#london-finance

#london-finance

The admission came as it emerged that Transport for London considered further extending the new line from Thamesmead to Abbey Wood, where passengers could interchange with the Elizabeth line only to rule it out on cost-benefit grounds. And in a separate development, City Hall staff were warned that job cuts were still on the agenda, despite London mayor Sir Sadiq Khan having received 155m more than expected in new Government grants.

An Oxford don in charge of mathematical finance told its reporters that almost all his students ended up working at quant trading firms, on salaries from 250,000 to 800,000. If you get offered a salary less than 250K, you're kind of the sad guy, he said, adding that nobody I know interviews for JPMorgan, Goldman Sachs not once do I hear anybody entertain any of these traditional investment banking jobs.

It has always been shocking that the cost of housing in London was left out of the Government's fair funding formula. If the rumours are true and ministers are listening, then I hope that means a brighter financial forecast. Reflecting the true cost of housing and the impact of daytime visitors in the capital would be a good start, but for now this is rumour.