CPPIB becomes world’s first pension fund to issue green bonds June 12, 2018 Green bonds will be issued by a pension fund in a world first for the sector. The Canada Pension Plan Investment Board (CPPIB) will become the first pension fund to increase its holdings in renewables and energy efficient buildings. CPPIB, which handles a total of $356.1bn assets, says the sale will put more than C$3bn [...]
Mind Gym flexes muscles with £140m London listing June 10, 2018 Training firm Mind Gym is planning to flex its market muscles through a £140m listing on London Stock Exchange arm AIM. The company, which is owned by Octavius Black, an Eton peer of former Prime Minister David Cameron, has brought in Liberum Capital to handle the listing. City A.M understands that an announcement on the [...]
Sir Martin Sorrell mulls over taking legal action against WSJ claims June 10, 2018 Advertising guru Sir Martin Sorrell is considering legal action against the Wall Street Journal (WSJ) after a report claimed to expose details of WPP's investigation into his conduct. City A.M. understands that Sorrell has consulted lawyers following the American media organisation's publication of information relating to his departure from the world's largest advertising firm in [...]
Whitbread open to sale of Costa or Premier Inn as it weighs up coffee chain demerger June 7, 2018 Multinational hospitality titan Whitbread may be open to selling off either Costa Coffee or hotel chain Premier Inn as it decides on plans to demerge its coffee business. Back in April, the company told investors it had plans to demerge Costa into a separate listed company within two years to give shareholders "an investment in [...]
Oxford Street pedestrianisation plans scrapped by Westminster Council June 7, 2018 Plans for pedestrianisation of Oxford Street have effectively been scrapped by Westminster Council this evening. In a letter sent round to residents, Westminster council leader Nickie Aiken said there was a "strong democratic mandate" that the scheme was not backed by residents. "As a result, Westminster City Council has taken the pedestrianisation of Oxford Street [...]
Co-operative Bank boss Liam Coleman to step down after five years at the lender June 7, 2018 The boss of Co-operative Bank Liam Coleman is to step down after five years at the bank. A statement from the board today said that Coleman made the decision after successfully completing the lender's recapitalisation process last year. The board said it was "mindful" of the need to manage a timely and orderly succession, telling [...]
Lush stores take down posters following backlash to controversial SpyCops campaign June 3, 2018 Staff working in Lush stores across the UK have been forced to take down posters for its controversial SpyCops campaign after a public backlash. The campaign, which was launched on Friday, said undercover police officers, some of whom had relationships with activists, had been "paid to lie." Angry shoppers took to social media to voice [...]
Chinese firm launches $5bn London nuclear energy industry fundraising roadshow June 1, 2018 Energy investment firm Ocean Nuclear today announced the launch of a $5bn (£3.8bn) nuclear energy industry fundraising roadshow in London. The Chinese company has negotiated nuclear infrastructure projects in more than 20 countries and will use 144 meetings at the roadshow to raise money for the programmes. Ocean Nuclear has backing from firms including Silk [...]
TSB faces fresh data crisis as MP claims bank may have broken GDPR laws June 1, 2018 Bank TSB may have broken new General Data Protection Regulations (GDPR) laws after a botched mail out to customers, an MP said today. John Mann, who is part of the parliamentary committee investigating the recent TSB IT meltdown said that the bank could be facing a backlash from the information commissioner after customers were sent [...]
Toscafund arm acquires stake in London wealth manager Plurimi May 29, 2018 A fund backed by City 'Rottweiler' Martin Hughes has today taken a significant minority stake in London-based independent wealth manager Plurimi Wealth. The acquisition of the stake is the first investment made by Tosca Private Investments Fund (TPIF), an arm of Toscafund Asset Management. TPIF is a specialist vehicle that will target small/mid-market private equity [...]
