Latest news with #ChrisHayward
Yahoo
a day ago
- Business
- Yahoo
London Seeks More Chinese Listings as City Battles IPO Drought
(Bloomberg) -- London is seeking to attract more Chinese firms to list on its stock exchange as the city struggles with a shrinking equity market and a deal drought across Europe. Security Concerns Hit Some of the World's 'Most Livable Cities' JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown How E-Scooters Conquered (Most of) Europe NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports 'We need to get more IPOs happening in London,' Chris Hayward, policy chairman of the City of London Corp., said in an interview from Shanghai. 'We don't want to lose business across the Atlantic.' The authority for London's Square Mile financial district can provide opportunities for Chinese firms to secure customers and funding in the UK and drive them to list in the city via its connect scheme with Shanghai, Hayward said. The city can also encourage UK firms to raise capital and list on the Shanghai Stock Exchange, he said. China introduced its stock connect program with the UK in 2019, allowing listed companies to issue depository receipts on each other's exchanges. It later expanded the program to include Switzerland and Germany. Six years later, only a handful of Chinese firms, including Huatai Securities Co., have listed in London, raising a total $6.6 billion, and trading has been muted. Beijing and London vowed early this year to deepen economic and financial ties, promising efforts to boost the China-UK stock connect. 'You've got to proactively go out there and encourage listings on your exchange,' said Hayward, drawing lessons from Hong Kong's success in igniting a boom in initial public offerings in the first half of this year. Hayward, who was in Shanghai this week for China's annual financial Lujiazui forum, is traveling to Hong Kong later in the week for IPO discussions. Hong Kong's share-sale bonanza this year saw new listings and additional offerings fetch more than $27 billion as of early June. That eclipsed annual totals in the last three years, and is the most since records were reached in 2021, according to data compiled by Bloomberg. The London bourse, on the other hand, has had just four pending or trading IPOs this year, as its valuation discount to the rest of the world discourages firms. London, as a key offshore yuan center, has also worked with China's central bank to help promote the internationalization of its currency. London established a working group with the People's Bank of China in 2018 to monitor the yuan market in the UK capital. The authority has been pushing global asset managers in the city to issue new products in yuan to facilitate greater use of the currency, said Hayward. He downplayed the potential impact that UK's recent tax for wealthy non-domiciled residents and its immigration crackdown could have on London's appeal as a global financial center, while urging efforts to resolve the non-dom issue. 'I would encourage the government to continue to review this matter,' he said. 'It's important to us to try and keep wealth creators in this country.' Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? The US Has More Copper Than China But No Way to Refine All of It How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 days ago
- Business
- Bloomberg
London Seeks More Chinese Listings as City Battles IPO Drought
London is seeking to attract more Chinese firms to list on its stock exchange as the city struggles with a shrinking equity market and a deal drought across Europe. 'We need to get more IPOs happening in London,' Chris Hayward, policy chairman of the City of London Corp., said in an interview from Shanghai. 'We don't want to lose business across the Atlantic.'
Yahoo
01-06-2025
- General
- Yahoo
London's first public park reopens after upgrades
London's first public park has reopened after a decade largely spent as a building site for the construction of the Elizabeth line. Finsbury Circus Gardens has been the focus of a major transformation project by the City of London Corporation since 2023, with the Grade II listed site's lawn revitalised, seating improved and landscaping added. The largest open green space in the Square Mile has had 12 additional tree species, more than 13,000 plants and 6,000 bulbs added to its site to boost biodiversity. Chris Hayward, from the City of London Corporation, said the "tranquil" park was "revitalised and ready to be rediscovered". The gardens first became a public park known as "Moor Fields" in the 1600s. A formal layout was introduced by George Dance the Younger in 1815. For most of the past 10 years, Finsbury Circus Gardens has been closed to the public while it was used by Crossrail to build the nearby Liverpool Street Elizabeth line station. It was partially reopened on 6 May, with the official reopening due to take place on 4 June. Hayward said: "Our green spaces play a vital role in making the Square Mile a welcoming and attractive place to live, work, and visit – delivering on our vision for a more inclusive, innovative, and sustainable City." The corporation's natural environment board chairperson, James St John Davis, said the Square Mile's parks and gardens, which attract over 21 million visits a year "truly punch above their weight". He added: "They offer a vital escape from the bustle of daily life." Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram. Send your story ideas to Deer spring back into London park after four years City of London Corporation
BBC News
01-06-2025
- General
- BBC News
London's first public park Finsbury Circus Gardens reopens
London's first public park has reopened after a decade largely spent as a building site for the construction of the Elizabeth Circus Gardens has been the focus of a major transformation project by the City of London Corporation since 2023, with the Grade II listed site's lawn revitalised, seating improved and landscaping largest open green space in the Square Mile has had 12 additional tree species, more than 13,000 plants and 6,000 bulbs added to its site to boost Hayward, from the City of London Corporation, said the "tranquil" park was "revitalised and ready to be rediscovered". The gardens first became a public park known as "Moor Fields" in the 1600s. A formal layout was introduced by George Dance the Younger in most of the past 10 years, Finsbury Circus Gardens has been closed to the public while it was used by Crossrail to build the nearby Liverpool Street Elizabeth Line was partially reopened on 6 May, with the official reopening due to take place on 4 June. Hayward said: "Our green spaces play a vital role in making the Square Mile a welcoming and attractive place to live, work, and visit – delivering on our vision for a more inclusive, innovative, and sustainable City."The corporation's natural environment board chairperson, James St John Davis, said the Square Mile's parks and gardens, which attract over 21 million visits a year "truly punch above their weight". He added: "They offer a vital escape from the bustle of daily life."
Bloomberg
02-05-2025
- Business
- Bloomberg
In the City: London May Be Coming for Wall Street
London is closing the gap with New York for the title of world's top financial center, according to the latest Global Financial Centres Index. Is it a signal that the the UK's efforts to rejuvenate its banking and investment sectors post-Brexit are starting to pay off? On this week's In The City, host David Merritt sits down with Chris Hayward, Policy Chairman of the City of London Corp., who makes the argument it is.
