John McDonnell: ‘No one needs to be a billionaire’ November 19, 2019 Shadow chancellor John McDonnell is set to take aim at billionaires today, describing their wealth as “obscene” as Labour releases research showing almost a third of Britain’s billionaires have donated money to the Tories. McDonnell is expected to say he wants to “rewrite the rules of our economy” in a speech in central London later [...]
City Moves: Who is switching jobs in the Square Mile this week? March 17, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. IoD appoints new chair The Institute of Directors (IoD) has appointed a new chair after a thorough search process, who will step into the role next Monday. Patrick Macdonald is set to take [...]
Goldman-backed Neyber finalises sale to Salary Finance March 10, 2020 The Goldman-Sachs backed lender Neyber has finalised its sale to rival Salary Finance. The deal came after weeks of talks after BDO was appointed as an administrator. The takeover by Salary Finance creates a workplace lender with more than 500 corporate clients, including BT, the NHS and Virgin Active. Among the combined client base will [...]
Sky poised to sign streaming deal with Disney January 26, 2020 Sky is said to be close to signing a deal with Disney to bring the US giant’s new streaming service to its pay-TV platform. The two companies are finalising a multi-year tie-up that could shut out rivals Virgin Media and BT, the Sunday Telegraph reported. Disney Plus is expected to launch on Sky alongside its [...]
Johnson prepares to scrap Huawei from UK 5G network July 5, 2020 Prime Minister Boris Johnson is set to draw up plans this month to start phasing out Huawei from the UK’s 5G infrastructure in a major U-turn following pressure from security agencies. A security review from the National Cyber Security Centre (NCSC), a branch of GCHQ, is understood to have revised assurances that risks posed by [...]
UK advertising exports jump to record-breaking £7.9bn March 16, 2020 International trade in British advertising services jumped 15 per cent year on year to hit a record £7.9bn in 2018, new figures have revealed. The sharp growth was significantly ahead of overall UK service exports, which rose by roughly two per cent, while the UK’s balance of payments surplus for advertising was Europe’s largest. The [...]
MWC to offer refunds after conference scrapped due to coronavirus March 25, 2020 Mobile World Congress (MWC) will offer refunds to anyone who paid to attend the conference in a move that could “lay down the gauntlet” for other events cancelled due to coronavirus. Organiser GSMA scrapped the telecoms extravaganza in February following a string of high-profile withdrawals, saying health concerns made it “impossible” for the event to [...]
Nokia replaces chief executive as 5G strategy fails to win over investors March 2, 2020 Nokia today announced plans to replace its chief executive as the Finnish telecoms firm battles escalating 5G costs and fierce competition from rivals. Rajeev Suri will step down as president and chief executive after more than a decade in the role, and will be replaced by Pekka Lundmark. Lundmark, who currently leads Finnish energy company [...]
HPE boss warns of Huawei cyberattacks June 11, 2020 Hewlett Packard Enterprise’s (HPE) managing director has warned of “data loss, privacy breaches and cyberattacks” if the government proceeds with Huawei technology in its 5G rollout. Speaking to City AM, Marc Waters said: “Securing the future of the UK’s mobile networks is a vital issue. Data loss, privacy breaches, and cyberattacks on individuals, organizations and [...]
Goldman-backed telecoms firm on brink of £200m Talktalk deal January 16, 2020 Goldman Sachs-backed telecoms firm City Fibre could seal its £200m takeover of a Talktalk division as soon as this weekend. The deal, which was first reported in August, was put on hold in November when Jeremy Corbyn’s Labour party vowed to nationalise BT’s broadband infrastructure arm and provide free broadband if they won the December [...]