Aberdeen Asset Management told to boost its minimum capital requirements September 12, 2016 Aberdeen Asset Management said today that it had been asked to up the minimum level of capital it holds for regulatory purposes by Britain's financial watchdog. The Financial Conducted Authority now wants the asset manager to increase its minimum financial cushion to about £475m, up from £435m previously. Analysts said this will not affect its capital adequacy "which [...]
Sadiq Khan visits Paris to secure business and tech startup collaboration with London August 25, 2016 London mayor Sadiq Khan has travelled to Paris in a bid to secure a partnership with the French capital in the aftermath of Brexit. Khan was invited to France by Anne Hidalgo, the Parisian mayor, for the anniversary of the liberation of the city from Nazi forces. City A.M. previously revealed City Hall was in talks [...]
London mayor Sadiq Khan has taken an axe to his plan to plant more than 2m trees by 2020 October 13, 2016 London mayor Sadiq Khan has quietly axed his own election pledge of planting 2m trees across the city in his first term in office. Khan made the vow as part of his plans to make London a more environmentally friendly with a package of measures including the pedestrianisation of Oxford Street. However, his deputy mayor for [...]
Norway’s sovereign wealth fund cuts the value of its UK property portfolio due to the Brexit vote August 17, 2016 Norway's sovereign wealth fund – the largest in the world – has cut five per cent off the value of its UK real estate portfolio due to the Brexit vote. Trond Grande, deputy chief executive of the 8,177bn kroner (£668bn) fund, said at a press conference in Oslo: "It's an extraordinary measure. "It was pointed out [...]
Marks & Spencer set to axe 500 jobs at head office in London September 3, 2016 Marks & Spencer is set to axe around 500 jobs at its head office in London. The cull of around 15 per cent of roles is expected to be announced next Thursday. Sky News first reported that more than half of the cuts will affect contractors. Read more: M&S pay row: New offer for workers – [...]
Christmas gift guide: All the luxury clothing and accessories gift ideas you’ll ever need December 2, 2016 We get it. You're busy. You're important. You have things to do, people to see. You don't have time for such fripperies as Christmas shopping. This year, instead of slogging around the shops anxiously trying to figure out what to buy for whom, just take our Christmas gift guide with you. Boom. Christmas shopping sorted. Don't [...]
Retail groups hail long-awaited introduction of the Night Tube August 17, 2016 Retail groups have welcomed the long-awaited introduction of the Night Tube to give business a boost and make London more attractive for visitors. The Night Tube is scheduled to get started Friday 19 August, after first being unveiled by Transport for London in September 2014. The New West End Company, which provides a voice for London's West [...]
Playing the long game: an interview with Chapel Down CEO Frazer Thompson and the UK Investor Show’s Nigel Wray October 16, 2017 Back in 2004, England was considered rather better at playing rugby than it was at producing wine, basking in the afterglow of the national team’s world cup win six months earlier. It was around this time that a mutual contact put Nigel Wray, the owner of Saracens rugby club, in touch with Frazer Thompson, a [...]
Canary Wharf Group is selling its stake in the Walkie Talkie – which could value it at £1.2bn March 16, 2017 Got a hankering to own one of the capital's most iconic (and controversial) landmarks? You could be in luck, after it emerged Canary Wharf Group, Morgan Stanley and others are planning to put a 50 per cent stake in the building on sale. City A.M. understands Canary Wharf Group has approached agents to sell its [...]
Marks & Spencer pay row: M&S makes new offer to workers – but campaigners say it isn’t enough September 2, 2016 Could this be the end of the long-running pay row between Marks & Sparks and its workers? Evidently not: the retailer today announced it had finished consulting with staff over pay, but campaigners don't think its conclusions are enough. In a statement today M&S said after a "thorough consultation" with its national employee representative group, it was offering [...]