UK banking sector coughs up £40bn as tax burden mounts October 30, 2019 Banks in the UK stumped up almost £40bn for the Treasury coffers in the last year as the tax burden facing lenders mounted. Taxes borne by the banking sector have soared by 50 per cent over the past five years, according to a report out today from trade body UK Finance and accountancy giant PwC. [...]
Mothercare shares surge after UK business enters administration November 6, 2019 Shares in Mothercare have soared this morning after the maternity and baby retailer’s UK business entered administration. Mothercare’s share price surged more than 36 per cent this morning, to 13p, after management firmed up administration plans and revealed further details on the company’s turnaround proposals. Read more: Mothercare shuts up shop in UK Last night [...]
How will Blockchain revolutionise financial services? April 22, 2020 In a recent PwC report, it was estimated that distributed ledger technology could reduce financial services infrastructure cost between US$15 billion and $20 billion per annum by 2022. This would positively impact both business and consumer banking in many unexpected ways. To truly understand the magnitude of the problem Blockchain can solve, one should look [...]
City Moves for 17 December – Who’s switching jobs at MIRA, Future Finance and Roxi December 17, 2019 Today’s City Moves includes MIRA, Future Finance and Roxi MIRA Macquarie Infrastructure and Real Assets (MIRA) has announced the appointment of Anna Elmfeldt as managing director and head of Nordics. In her new role Anna will be responsible for identifying new investment opportunities in the Nordics for MIRA’s suite of infrastructure and real asset funds. [...]
Saracens’ relegation from the Premiership is a sad moment for English rugby and salary cap rules must change as a result January 23, 2020 Saracens are being relegated and, putting the specifics aside for a moment, I think that is a sad state of affairs for English rugby. Former chairman Nigel Wray has apologised for his actions in failing to comply with the Premiership salary cap, but I have sympathy for him. In many ways what he did – [...]
World’s wealthiest investors forecast a turbulent 2020 November 12, 2019 The world’s super rich are bracing themselves for a rocky year ahead, with many high net worth investors holding cash in their portfolios as a result. Almost four in five wealthy investors think that markets are heading towards a period of higher volatility. Read more: Billionaire boom slows down as uncertainty takes a toll Wealthy [...]
Crypto AM shines its Spotlight on EdenBase & its ‘Cognitive Revolution’ January 5, 2021 I haven’t until now stepped in to write an introduction but in this moment find myself compelled to. When two of our brightest come together to forge a brand new venture it deserves our attention. Eric Van der Kleij, original creator of London’s much lauded Level 39 in Canary Wharf, has joined Daniel Doll-Steinberg, co-Founder [...]
Citi chief political analyst Tina Fordham moves to new boutique law firm Avonhurst October 31, 2019 Investment bank Citi’s chief global political analyst Tina Fordham is moving to new boutique law firm Avonhurst as a partner and head of global political strategy, the firm announced today. The hire is an unusual one as law firms have not traditionally advised their clients on political risk. Speaking to City A.M. Fordham said: “It [...]
Baker Mckenzie boss ‘propositioned’ junior lawyer at 3am after night of drinking December 2, 2019 Former Baker Mckenzie London managing partner Gary Senior propositioned a junior lawyer at 3am after asking her to stay behind in his hotel room, a tribunal heard today. The incident took place in 2012 but was hushed up by the firm, with Senior keeping his job and the junior lawyer (Person A) leaving with a [...]
The UK should be confident in its business future January 21, 2020 With the UK just days away from leaving the EU, one might think it would be a major talking point at the World Economic Forum in Davos. However — and perhaps refreshingly — conversations are largely focused on other geopolitical issues, those fundamental to our future global society, like inequality, societal divisions, and the climate [...]