Until the City of London is democratically reformed with the abolition of business votes and a reduction in the number of its councillors to a level commensurate with its residential electorate, its political system will provide an attractive target for those inclined to manipulate voting systems and seeking an easy route to power and influence. We will continue to keep an eye on upcoming City of London elections. Later this year Matthew Richardson is scheduled to step down as Billingsgate alderman. An election in that ward might well be of wider interest than the alderman contests we’ve reported in recent posts.Read more "Sue Langley, Aldermen & The City of London’s Rotten Political System"
Excitement over Russian flotations peaked a decade ago. When Russian owners realised they could gain higher valuations by listing assets globally, it provided a rush of business. Sixty-seven of the Russian IPOs from 2005 to 2014 came to the London market, leaving New York behind. The City will gain comfort that Russian revenues had already tailed off — the US pounced after most of the fees had been paid. But Washington, not London, has decided how it must handle Russian financing. The Deripaska affair leaves the UK’s financial capital looking neither powerful nor principled.Read more "City of London ‘Neither Powerful Nor Principled’ According To The Financial Times"