30% Club founder Helena Morrissey warns plans to link bonuses to gender equality targets may backfire as Virgin Money boss Jayne-Anne Gadhia publishes women in finance review March 22, 2016 Proposals for bonuses to be tied to the number of senior women at financial institutions have been criticised by top City figures, who say the move threatens to deter women from working in the Square Mile. In a government-backed review out today, Virgin Money chief exec Jayne-Anne Gadhia recommends financial services firms “connect parts of [...]
Peg bonuses to gender targets: Bank boss reveals plan, but fellow City leaders warn it could backfire March 21, 2016 Proposals for bonuses to be tied to the number of senior women at financial institutions have been criticised by top City figures, who say the move threatens to deter women from working in the Square Mile. In a government-backed review out today, Virgin Money chief exec Jayne-Anne Gadhia recommends financial services firms “connect parts of the remuneration [...]
Financial advisers rile at plans to shift offshore tax notification burden November 23, 2016 Financial advisers will have to tell UK authorities about clients' complex offshore tax structures, according to new government proposals. Today's Autumn Statement contained plans to consult "on a new legal requirement for intermediaries arranging complex structures for clients holding money offshore to notify HM Revenue & Customs (HMRC) of the structures and the related client lists". Read more: Brexit [...]
London airport expansion: Londoners prefer Gatwick to Heathrow by 12-point margin according to latest YouGov poll March 7, 2016 Londoners are significantly more likely to support the expansion of Gatwick Airport than another runway at Heathrow Airport, according to a new poll out today. YouGov polled more than 1,000 adults last month, finding that 46 per cent preferred expanding Gatwick Airport. Thirty-four per cent wanted Heathrow to be expanded, instead. YouGov also found that Gatwick [...]
At the close: FTSE 100 index surges as banks’ share prices including Lloyds, RBS and Barclays rise February 25, 2016 The FTSE 100 index rocketed on Thursday as banking stocks surged, supported by the news that fourth quarter UK GDP was revised upwards to 0.5 per cent. The index closed 2.48 per cent higher at 6,012 points, led higher by Lloyds Banking Group and RSA Insurance Group. "European banks were the centre of market turmoil two [...]
Labour leader Jeremy Corbyn insists that Labour and British businesses are “natural allies” while slamming the City of London March 3, 2016 Labour leader Jeremy Corbyn has used his first major speech to a business audience since taking the reins of the Labour party last year to insist that his party and British businesses are "natural allies". "In the twenty-first century the role of government is to understand these connections and make policy to fit," Corbyn said in a speech at the [...]
Leaving the EU without a deal would bring significant tariff and regulatory barriers to trade, the CBI is set to warn at Mansion House March 2, 2017 The CBI has warned that leaving the EU without a deal and reverting to World Trade Organisation (WTO) rules would open a pandora’s box of economic consequences, hurting firms on both sides of the Channel. In a speech this evening to the Lord Mayor’s business and investment dinner at Mansion House, CBI president, Paul Drechsler, [...]
FTSE 100 index closes flat on last day of the month as supermarkets come into focus February 29, 2016 The FTSE 100 index closed slightly higher on the quiet last day of the month after the G20 disappointed over the weekend. The UK's blue-chip index closed 0.02 per cent higher at 6,097 points. "It was almost as if investors forgot about the leap day and no investments were planned on a quiet last day of the month," said [...]
Bank shares bounce after heavy losses, investors cheer reports of Deutsche’s emergency bond buyback plan February 10, 2016 Bank stocks have managed to recover some of their lost ground today, following massive sell offs at the start of the week sending shock waves through global equity markets. Royal Bank of Scotland has made the biggest recovery, soaring by four per cent as investors back track on yesterday’s losses. RBS was down by over [...]
City Moves for 24 March 2016 | Who’s switching jobs March 24, 2016 Close Brothers Asset Management Close Brothers Asset Management (CBAM) has appointed family lawyer Josephine Fay to its business development Team to strengthen its proposition for lawyers and their clients in the UK. She joins from Farrer & Co LLP. Josephine will be reporting into recently appointed Shirley Coe, director of the business development team, and [...]