IBM hires ex-Thomas Cook boss Harriet Green to lead new data-focused business September 14, 2015 IBM has confirmed the appointment Harriet Green, former chief executive of Thomas Cook, to lead two new business divisions – the Internet of Things and Education Business. In a statement, the New York-based technology company said these units were being launched to “apply the company’s considerable strengths in Big Data, advanced analytics and cognitive [...]
HSBC latest to withdraw as nomad on Alternative Investment Market September 14, 2015 HSBC is the latest bank to leave Aim, the London stock exchange’s market for smaller growing companies. The bank has withdrawn its status as a nominated adviser (nomad), making it the latest major banking adviser to be leaving the Alternative Investment Market. HSBC hasn't had any clients on the market for over a year, and [...]
Santander UK doubles fees for 123 current account holders, blaming low interest rates and tough banking regulations September 14, 2015 Santander UK is more than doubling its fees on 123 current accounts, raising the yearly rate to £60. Three million customers are affected by the fee hike, which the Spanish banking giant is blaming on changes in banking regulations and low interest rates. Monthly fees will be raised to £5, more than twice today’s rate [...]
Metro Bank targets wealthy customers with new head of private banking Julie Barnsley September 14, 2015 High street challenger Metro Bank has announced a new head of private banking services, Julie Barnsley. The bank hopes to draw in wealthier clients with Barnsley’s appointment, and capitalise on the recent surge in demand for their private banking services, which now accounts for one fifth of the business. Read more: Financial challengers Zopa and Metro [...]
Sir Charles Dunstone’s Freston Road Investment to bring US pizza chain MoD to UK after Five Guys success September 14, 2015 Sir Charles Dunstone has moved from backing burger joints to pizza chains after striking a joint venture agreement to bring US restaurant chain MOD Pizza to Britain. MoD, which stands for Made on Demand, allows customers to pile as many toppings as they want on their artisan-style pizza base for the same fixed price. It [...]
Quindell share price falls after distressed companies investor Hedge fund Beach Point Capital Management beefs ups stake September 14, 2015 A US-based hedge fund has beefed up its stake in insurance group Quindell, which is being investigated by the Serious Fraud Office (SFO). Beach Point Capital Management now has a five per cent stake in Quindell, after buying more than 420,000 shares in the company on 10 September. Beach Point, whose clients include large public and corporate pension [...]
UK drug company Acacia Pharma plans £150m flotation on London Stock Exchange September 14, 2015 The UK's life sciences sector received yet another boost this morning, when Cambridge-based drug company Acacia Pharma announced its plan to float on the London Stock Exchange next month. The firm, which specialises in developing new treatments for debilitating conditions arising from surgery, intends to sell a 25 per cent stake of the company [...]
Alibaba hits back at Barron’s article which suggests share price could plunge 50 per cent September 14, 2015 Alibaba has struck back at mounting criticism of its stock's performance, taking aim at a recent Barron's cover story, which suggested its share price could drop by 50 per cent from current levels. The Barron's article describes China's struggling economy and rising competition in the e-commerce market as cause for concern and argued Alibaba's price-to-earnings ratio and [...]
Trinity Mirror share price jumps as it nears £200m deal to buy Local World September 14, 2015 Shares in Trinity Mirror jumped on Monday morning, after it confirmed reports it was close to completing a takeover of regional newspaper group Local World for £200m, in a deal that will add more than 100 titles to its media empire. Trinity Mirror’s stock was up seven per cent to 148.75p per share in mid-morning [...]
British retailer Next is the latest FTSE giant to invite companies to compete for its audit contract September 13, 2015 Recent regulatory changes have seen blue-chip companies enter an audit merry-go-round, with big names like Shell, British American Tobacco, Vodafone and RBS changing accountants. PwC, the market leader, is expected to lose out under the new rules, but chairman Ian Powell commented: “It’s obviously a challenge to the business, but actually our experience so far [...]