A story in various media outlets suggests Muyeba Chikonde, Zambia’s High Commissioner to the United Kingdom, has foolishly accepted the Freedom of the City of London. The unsavoury character of some of those given the Freedom of the City has been noted in one of our previous posts, so Muyeba Chikonde now finds himself in the company of paedophiles and disgraced politicians. The coverage we’ve seen in the Zambian media suggests the story is based on a press release issued by the Zambian High Commission in the United Kingdom. However Google search results label some of this coverage ‘satire’. While getting the Freedom of the City of London is a joke, we think it likely Chikonde really did receive this ‘award’ on Monday 10 December 2018.Read more "Muyeba Chikonde’s Freedom of the City of London ‘Award’ Is A Joke"
It is rather rich of Charles Bowman to speak about the ‘democratic process’ in Nigeria when he and most of his colleagues in the City of London are ‘elected’ on undemocratic business votes and treat the actual residents of the local authority they administer with complete disdain; all the while gallivanting around the world promoting the interests of the finance industry and ultra-high net worth individuals at the expense of local people in the City of London and billions more around the globe. We’ve already made it clear we don’t trust Charles Bowman and we think anyone who does must be deluded. Shortly before Bowman headed off to Nigeria even the Financial Times was pouring cold water on his Business of Trust agenda.Read more "Trust: The Foreign Office Hums It & Charles Bowman Fakes It"
City Matters reported that the livery company who booked a contentious Guildhall event for the far-Right Italian senator Armando Siri was the Worshipful Company of Management Consultants. Is this really ‘an outside body’ as The Guardian reported the City of London council claiming, or is it a cat’s paw? When it suits the City of London this and other livery companies are linked to it, which justifies the discounts they enjoy, effectively subsidies for events such as the far-Right lunch with Armando Siri. But when the City of London wants to shrug off responsibility these ‘linked’ and ‘connected’ organisations metamorphose into outside bodies – as is clear from the City’s statement quoted by The Guardian. We’d like Hugh Morris – and other City of London councillors – to state definitively if they want the City to treat the Worshipful Company of Management Consultants as an ‘outside body’ and to charge it the full market rate when it hires rooms from the council. If this and other livery companies are not City linked and connected, then they shouldn’t be getting discounts. We’re also keen to hear what Morris has to say about the Armando Siri event hosted by a livery company he belongs to.Read more "Hugh Morris, The Livery Lodges & The City of London’s Opacity"
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"