In the City

Did you know you can buy a multi-million pound house via WhatsApp? Well, you probably can't. But some Londoners can. And if they want to, they call the Secret Agent. He's a top buying agent for the city's ultra-rich and he joins David Merritt and Francine Lacqua this week for an inside look on the buying and selling of London's most expensive homes. Plus, an update for the rest of us with London bureau chief Neil Callanan who says houses in England are at their least affordable level ever--a sign of a market that might be vulnerable. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The Tory leadership contest is inching closer to its end, but while rhetoric on the campaign trail has been primarily focused on economics, it's a type of campaign economics, not the governing kind, according to Simon French, chief economist at Panmure Gordon. He joins host Francine Lacqua for a critical look at Liz Truss and Rishi Sunak's visions for tax and spending, and suggests the best candidate is the one willing to pivot to governing economics, a switch he says Sunak is more likely to make. Plus, a taste of optimism at the end of the episode as Simon shares his outlook for UK assets. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

London paid a record price to dodge a blackout in July. But the city might not be able to dodge blackouts come winter. Javier Blas, Bloomberg Opinion columnist covering energy and commodities, tells host Francine Lacqua that if this winter is even slightly colder than normal, it's going to be difficult for the UK to keep the lights on. They discuss the reasons for the energy crisis and explore how bad it's likely to get. Plus, Bloomberg’s Rachel Morison details the government's energy plan and what Liz Truss or Rishi Sunak might do in Number 10.You can get the latest on the the energy and commodities markets from Javier and journalists stationed around the world by subscribing to Bloomberg's new newsletter, ELEMENTS. Sign up: http://bloomberg.com/account/newsletters/energy Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

London's stock market is facing the quietest period for listings since the financial crisis. British companies are instead flocking to the deeper pockets found in New York and Europe. In this episode of In The City, Francine Lacqua speaks to Mark Austin, the latest person charged with sprucing up the UK’s listing rules, about his plan to help London maintain its position as one of the world's leading financial centers. Plus, Bloomberg editor Kat Van Hoof explains why a big chunk of the IPO market share disappeared from London post-Brexit and why government efforts to attract more startups haven't paid off yet. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The tide is turning in the UK jobs market. Earlier this year, a shortage of skilled workers meant employees had the upper hand. But with more indicators pointing toward a recession, inflation on the rise and the cost of living crisis starting to bite, we ask is the UK job market succumbing to economic reality?David Merritt speaks to James Reed, Chairman and CEO of Reed UK, Britain's largest recruitment company, who says the rate at which vacancies have been increasing has slowed down. He also explains why the company's data doesn't paint such a bleak picture. Plus, Tom Metcalf, who heads Bloomberg's finance coverage in London, discusses the outlook for City jobs.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The winner of the conservative party leadership race is not yet decided--and yet there is already a loser: The Bank of England. The central bank has caught a lot of heat from the contest to become Britain's next prime minister. Tensions are brewing over political influence in central banking and financial regulation. This week, David Merritt unpacks those tensions with Bloomberg senior reporter Phil Aldrick and Bloomberg Television's Lizzy Burden. They discuss the history of the bank's independence, the threat it's currently facing, and whether the man at the helm of the bank, Andrew Bailey, is savvy enough to tackle the challenges. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The end of lockdown restrictions had the UK travel industry breathing a sigh of relief. But even after being given the green light, hopeful travelers were left grounded at airports across the country. And that smell? Not freshly cooked paella... but the pile of uncollected luggage festering at Heathrow's Terminal 2. With cancellations, delays, lost baggage and strikes likely to last all summer, David and Francine explore how Britain's unique brand of travel chaos is affecting the business person's attitude toward travel. Has the ease and reliability of remote working rendered work trips obsolete?The hosts divide and conquer this episode, as Francine's been whisked away for a business trip to Rome, and had her own helping of disruption. She speaks to Paul Charles, chief executive officer of The PC agency and former director of communications of Virgin Atlantic, to find out what's behind all this turmoil. Plus, Martin Ferguson, vice president of communications and public affairs at American Express Global Business Travel, tells David why he thinks business travel is here to stay and what the next leader of the Conservative party needs to do to end the turbulence. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

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.