BP drills closer to home than Tesco for new CEO October 4, 2019 If the benchmark for CEO succession planning is to have a slate of credible internal candidates ready to take the helm when a veteran boss retires, this week’s news suggests that BP deserves plaudits and Tesco brickbats. In reality, the situation at the two companies is more nuanced, but both the impending departures of Bob [...]
CMA puts brakes on Amazon’s Deliveroo investment July 5, 2019 The UK’s competitions watchdog will examine Amazon’s investment in Deliveroo, it said this morning, putting the brakes on the multi-million pound deal. The internet retail giant took a stake in Deliveroo in May, leading a $575m (£450m) funding round. It did not reveal the exact size of the stake. Read more: Amazon leads £450m Deliveroo [...]
UK coronavirus: Brighton GP practice closes after positive test February 10, 2020 A GP practice in Brighton has closed after a member of staff tested positive for coronavirus, it is reported. The County Oak medical centre in Brighton closed this afternoon, urging patients to contact the NHS 111 phone service with any health concerns. It came as the government upgraded coronavirus to a “serious and imminent” threat [...]
City bigwig Michael Spencer blasts ‘politically motivated’ regulators July 28, 2019 City grandee Michael Spencer has launched a scathing attack on “politically motivated” regulators after his firm successfully challenged a €15m (£13.5m) fine over the Libor rate-rigging scandal. The former Tory party treasurer urged banks to stand up to regulators after his brokerage firm Icap won its court battle against the European Commission earlier this month. [...]
Economies in free fall as hopes fade for a V-shaped recovery April 28, 2020 Amongst the arguments about a lack of protective clothing for health workers and whether governments were too slow to react to the spread of Covid-19, the latest figures show that the pandemic is gradually coming under control. The rate of growth in new infections and fatalities around the world is slowing and the curves are [...]
Let London take back control of its finances June 18, 2019 As many a City A.M. reader will know, London is different from the rest of the UK in a variety of ways – and not just in terms of how it votes, its cultural mix, or its size and complexity. There is also the amount of tax that London’s citizens and businesses pay. Recent figures [...]
Some inconvenient truths about income November 22, 2019 “Chin up. Be positive. It’ll all work out.” We are always being encouraged to look on the bright side, but too much optimism can be dangerous. Take the simple matter of how much we expect to earn from our savings and investments. Far too many people around the globe take a “glass half full” approach [...]
Brexit dogma is a one-way ticket to extinction for London’s Tories June 11, 2019 As 11 candidates prepare to enter the race to succeed Theresa May as Conservative party leader and Prime Minister, London Tories have their own identity crisis to worry about. They just chalked up a new electoral record: 7.8 per cent of the vote, fifth place citywide, and zero MEPs returned to the European parliament. Ex-Tory [...]
Munich Re eyes up the skyscraper plot by the City’s Leadenhall Market March 15, 2018 Munich Re, the largest reinsurer in the world, is in talks with Brookfield Property Partners about acquiring the One Leadenhall plot. The site on the corner of Gracechurch Street and Leadenhall Street sits adjacent to Lloyd’s of London. The plot has approval for a 36-storey tower. The skyscraper, which is designed by Foster and Partners, [...]
Londoners face the biggest rise in council tax bills as rates set to rise from April March 5, 2019 Council tax bills across England are set to rise by an average of 4.5 per cent from April, with the steepest hike coming in London, new research suggests. From the start of the financial year in April, households across Britain will see an average increase of £75.60 in the yearly Band D council tax bill, [...]