For centuries the London Metal Exchange has been the home of global benchmark prices for the world’s key industrial metals. But how the LME handled nickel trading in March has put its status as a City of London institution in doubt. Questions are being raised about its structure, ownership and future as lawsuits pile up and market experts forecast a mass exodus of LME members down the road. Bloomberg reporter Jack Farchy joins to unpack the long-term consequences for the exchange. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Boris Johnson’s government is imploding. His attempt to stop the rebellion in his party by quickly installing senior Tories as chancellor and health secretary has clearly not worked. In this week's In The City, Bloomberg Westminster reporter Alex Wickham paints a dire picture for Downing street and looks ahead to what kind of chancellor Nadhim Zahawi will be--depending on how long he'll be able to stick around. Plus, Senior Executive Editor for Economics and Government Stephanie Flanders and Bloomberg Opinion columnist Marcus Ashworth join to discuss what the political turmoil could mean for the UK economy. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Easy access to financial markets has made London a prime spot to wash dirty money, with Britain’s National Crime Agency estimating annual figures run into the hundreds of billions. But the war in Ukraine is forcing the government to rethink its accommodation of the world's richest. However, even with additional powers imposed by the Economic Crime Act, loopholes mean some can circumvent sanctions. Calling into question: is dirty money too ingrained into the City to clean out? David Merritt speaks to Stephanie Baker, senior writer at Bloomberg, and Caroline Knowles, professor of sociology at Goldsmiths, University of London, and author of Serious Money: Walking Plutocratic London about the City's super rich and how they're shaping London in their own image. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Earlier this year, the UK government laid out plans to become a “global hub” for the crypto industry. City minister John Glen said in a speech in April that the government was determined to show “the UK is open for business and open for crypto businesses.” But crypto oversight remains a puzzle to regulators worldwide--including the UK--and according to crypto players like former Chancellor of the Exchequer Philip Hammond the UK has "missed a trick" on digital asset trading. Hammond, who is now a senior adviser to Copper.co, a London-based crypto custodian and trading services provider, tells David Merritt and Francine Lacqua it isn't too late for London to catch-up to the EU on setting clear regulation, but it's getting dangerously close.Plus: Bloomberg crytpo reporter Emily Nicolle on how the UK currently views crypto and how crypto companies currently view the UK, and reporter Charlie Wells on the addiction specialists offering treatments for compulsive crypto traders. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Tina Brown, former Vanity Fair editor and the author of "The Palace Papers," tells David Merritt that London has recaptured its joy, unlike, say, New York which is still suffering a "kind of clinical depression."In this extended conversation, they also discuss the national identity crisis brewing in Britain and the "dropped shoe" moment awaiting if the cost-of-living crisis and the Queen's passing happen at the same time.But Brown is bullish: the monarchy isn't going anywhere. And although Prince Andrew "hasn't exactly enhanced the gravitas of the crown," Prince Harry may be the bigger problem for the thousand-year-old institution. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Stocks, bonds and everything in between were hit hard this week as stubbornly high inflation ignited fears around aggressive monetary policy. The market moves, for some, resurfaced buried memories of the global financial crisis more than a decade ago. But for others--like the chief economist of UBS Global Wealth Management, Paul Donovan- it was a reminder that the market "is not listening to what is going on in the economy and instead getting caught up in its own narrative."Speaking to David Merritt and Francine Lacqua, Donovan offers a City view on the market selloff, and he debates the cause of inflation with Markets Live blogger Lorcan Roche Kelly.Plus: Bloomberg Opinion columnist Marcus Ashworth gives historical context by sharing the story of his first day in the dealing room on Black Monday back in 1987. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

David Merritt and Francine Lacqua speak to Soren Jessen, owner of One Lombard Street, the Square Mile’s first Michelin starred restaurant, and Bloomberg food writer Bill Knott, about the City's restaurant culture and whether it is catching up to its European neighbors.Plus: Francine and Bloomberg's Oliver Crook go to lunch at City institution Sweetings, which describes itself as the oldest fish and oyster restaurant in London.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The sale of Chelsea FC to US investor Todd Boehly has been approved by the UK government, bringing a close to Russian billionaire Roman Abramovich’s near 20-year ownership of the storied London club. That means that next season more than half of England’s top 20 teams will for the first time be backed by US money.So this week In The City, David Merritt and Francine Lacqua speak with Roger Mitchell, founder of sports consulting firm Albachiara, about how American money will soon change European football, and why the revival of the super league is inevitable. Plus, Bloomberg reporter David Hellier and his son Ethan tell the fans' side of the story. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

David Merritt and Francine Lacqua speak to reporter Joe Mayes about Bloomberg's Levelling Up scorecard, and why the data shows that despite the government's pledge to reduce regional inequalities--London is still ahead.Plus, Nigel Wilson, chief executive of one of Britain's biggest financial services companies Legal & General tells us why he's an advocate for levelling up--and why it's a smart investment strategy. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Is London having another moment? Shaken by Brexit, decimated by the pandemic, threatened by new ways of working and a worsening cost-of-living crisis, London remains Europe’s (and arguably the world’s) beating heart for finance and for culture. In the wake of turmoil, the City of London is reinventing itself. Every week on In The City, Bloomberg’s Francine Lacqua and David Merritt go behind the scenes in the Square Mile and the wider metropolis, uncovering the stories and speaking to the people that matter. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.