Office market booms as Tfl passenger numbers climb again January 28, 2022 Take up of Central London office space soared at the end of last year, in a major boost for the City’s revival this winter. Tenants took up 3.2m sq ft of London office space in the final quarter, exclusive data from real estate firm CBRE revealed. This was the strongest take-up since the end of [...]
EU mulls metaverse regulation as businesses jump into virtual reality February 8, 2022 As key players in fashion, tech and finance develop virtual reality metaverses EU authorities are considering new rules to protect consumers.
City Moves: Who’s switching jobs in the Square Mile this week? March 4, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. MCA The Management Consultancies Association (MCA), a trade association, has announced that an EY veteran will be its next president. Yunus Ozler, EY UK&I energy and resources consulting leader and partner, who currently sits on the MCA [...]
‘Blunt, unsociable and very smart’: Meet new City minister Andrew Griffith September 16, 2022 Andrew Griffith’s rapid ascent in the Tory party has spurred admiration and frustration among his fellow MPs. The new City minister was elected to parliament less than three years ago, but has now held ministerial positions in two major departments and as Number 10 policy chief under Boris Johnson. Griffith’s burgeoning political career is inexorably [...]
UK’s audit watchdog set to reclaim control over licensing of major accountancy firms April 12, 2022 The UK’s audit watchdog is preparing to strengthen its powers to sanction Britain’s major accountancy firms. The Financial Reporting Council (FRC) is readying itself to take back control over the registration of the UK’s auditing firms, sources told the Financial Times. In doing so, the FRC would be given new powers to strip licenses from [...]
Investors warn Big Four of AGM rebellions over climate accounting November 2, 2021 An investor group managing around $4.5tn worth of assets have issued a warning to the top four auditing giants to start including climate risk into their audits, or risk rebellions at AGMs, according to reports. In a letter seen by Reuters, which first reported the news, the investors told the Big Four auditors that unless [...]
CEOs: Cyber attacks biggest threat to growth in financial servcies July 14, 2021 Financial services CEOs rank cyber attacks as the greatest threat to the industry’s future growth prospects. According to a PwC survey, 56 per cent of top executives questioned ranked cybercrime as the main challenge to sector, with the pandemic and over-regulation seen as less of a threat, at 51 per cent and 50 per cent, [...]
Boardroom bloody noses: Activist activity surges as FTSE firms feel the heat over pay and director votes December 13, 2021 There were plenty of bloody noses around FTSE boardrooms this year, with new data out today showing a surge in investor activism rattling remuneration committees over pay awards and spooking directors trying to get re-elected to their posts. Investors in FTSE 350 companies are increasingly more activist, with a 29 per cent surge in shareholder [...]
British Steel: Jingye brings in PwC and McKinsey to close £50m deal January 19, 2020 Prospective British Steel buyer Jingye has called in PwC and McKinsey to help finalise the company’s plans to close the deal. The Chinese dealmaker needs to finalise its £50m takeover of the insolvent British Steel by the end of next month. Consultants from PwC and McKinsey have now been brought in to ease concerns about [...]
Letters: Making an entrance June 8, 2022 [Re: Apple launches buy-now-pay later offering, yesterday] The fact that Apple has officially entered the buy-now pay-later space brings an appetite for ecommerce to the forefront. From a surge in online shopping to an increase in edtech, owing to physical restrictions, the pandemic has accelerated the already burgeoning space of e-commerce. As a result, the [...]