High street recovery blown off course as footfall drops 6.1 per cent May 4, 2021 Wind and rain blew the high street recovery off course this week as footfall dropped 6.1 per cent, according to figures from retail insight company Springboard. The number of shoppers across all retail destinations fell by two per cent last week from the week before. Meanwhile, footfall rose by 2.8 per cent in shopping centres [...]
City Moves for 5 December – Who’s switching jobs at Rivercrowm, Cashflows and Cromwell? December 5, 2019 Today’s City Moves includes Rivercrowm, Cashflows and Cromwell Rivercrown Rivercrown has appointed Charles Archer to lead its debt investment management team, with responsibility for originating, underwriting, execution and loan asset management of real estate debt opportunities in the UK and Europe. Charles, who joins as a director, will oversee the European Credit Opportunities Vehicle — [...]
Citigroup appoints first female head of Middle East and North Africa operations December 8, 2020 Citigroup has appointed Elissar Farah Antonios as the first woman to head the bank’s Middle East and North Africa (MENA) operations. MENA is Citi’s fastest growing region in its emerging markets portfolio and contributes 30 per cent of the bank’s net income in Europe, the Middle East and Africa. Antonios joined Citigroup in 2005 as [...]
Square Mile lockdown: City firms plot staff’s return to work May 14, 2020 City banks and professional services firms are drawing up plans to send staff back to the office as the UK begins to ease its coronavirus lockdown. Earlier this week Prime Minister Boris Johnson announced that people who can work from home should continue to do so, as he laid out guidance to make workplaces “Covid-secure”. [...]
Law firm tries to muscle in on £1bn forex cartel claim November 6, 2019 US claimant law firm Hausfeld is trying to muscle in on a £1bn group action against a raft of banks who were found to have rigged the foreign exchange markets. The Competition Appeals Tribunal (CAT) heard today that Hausfeld is set to bring a claim by the end of November. The CAT was sitting for [...]
Some 1,200 HSBC staff to permanently work from home April 7, 2021 HSBC is moving more than 1,200 staff in the UK to permanent working from home contracts, marking yet another company making major changes to its working patterns post-pandemic. Around 70 per cent of the bank’s 1,800 call centre staff based across England, Wales and Scotland have volunteered to never return to the office, employment union [...]
Lawyers attack businessman at heart of £200m Royal Bank of Scotland claim April 17, 2018 In a High Court hearing today lawyers said that a businessman at the centre of a group involved in a £200m claim against the Royal Bank of Scotland (RBS) had been described as a fraudster in two previous court cases. Lawyers acting for former RBS shareholders instructed by Manx Capital Partners said that it was [...]
The City View: Sluggish UK economic growth, and Heathrow flying high April 11, 2022 Today Andy Silvester talks to City A.M.’s Economics and Markets reporter Jack Barnett. They go through lacklustre UK economic growth figures and why the cost-of-living crisis will hinder said growth; the latest inflation figures; the global economic recovery; and economic uncertainty to come. Andy also goes through the news: Heathrow has marked its highest number [...]
Barclays and Lloyds Banking Group reveal PPI balance sheet hit September 9, 2019 Two of Britain’s biggest banks warned of billion-pound costs from a rush of claims for mis-sold payment protection insurance (PPI) today. Barclays revealed after trading closed tonight that it was facing costs of up to £1.6bn following a bigger-than-expected stampede of complaints in the run-up to the 29 August deadline. Read more: How did banks [...]
Business confidence in London jumps to pre-pandemic levels April 30, 2021 Business confidence in London rose 20 points during April, to 32 per cent, its highest level since January 2020. Moreover, companies in the capital reported higher confidence in their own business prospects month-on-month, up 17 points at 31 per cent, according to the latest Business Barometer from Lloyds Bank Commercial Banking. When taken alongside their optimism in the economy, up 22 [...]