Editor’s Notes: Nobody has a clue what’s going to happen November 16, 2018 Westminster has entered a period of chaos, marked by the usual signs of political turmoil: marquees outside parliament for camera crews, protesters desperately trying to get in shot and MPs from all sides of the debate milling around trying to get on the air. In the City, frantic movements in sterling and a sizeable hit [...]
Max Verstappen’s rivalry with Esteban Ocon dates back almost a decade and their latest spat could be the first of many in Formula One November 15, 2018 When Max Verstappen shoved Esteban Ocon on Sunday in the weighing area at the Brazilian Grand Prix, fans were given a glimpse of what could be Formula One’s next big rivalry. The pair came to blows after the race because Verstappen was furious at being denied victory by a collision with Ocon, who was attempting [...]
Showdown: Barclays boss set to meet troublesome activist investor November 11, 2018 Ever since the activist investor Edward Bramson revealed his 5 per cent stake in Barclays in March of this year, the two sides have danced around each other. The bank's chief executive, Jes Staley, aspires to lead an investment banking powerhouse. Bramson, on the other hand, wants that operation scaled back – favouring, in its [...]
Pepsico bid for British crisp brand Pipers shows more US companies hungry for UK assets November 6, 2018 Pepsico swooped on premium British crisp brand Pipers today adding to a bumper year for US acquisitions of UK firms, with deals already hitting a record $87bn (£66.4bn). The value of acquisitions has surged by a whopping $57bn since last year, according to figures compiled by Dealogic. The record figure does not include the undisclosed [...]
IWG boss mulling £2.2bn break-up of serviced office space business November 3, 2018 The world’s largest serviced office space provider is mulling a £2.2bn split which could result in swathes of the company’s international portfolio being sold off, according to Sky News. Mark Dixon, who runs IWG and founded the company under its original Regus brand, is said to be weighing up plans to split the firm into two [...]
Stephen Haddrill steps down as FRC audit watchdog boss amid probe November 2, 2018 Stephen Haddrill, chief executive of the Financial Reporting Council (FRC), is stepping down amid a government probe into the watchdog’s operations. Haddrill has led the FRC, which monitors and regulates the audit sector, since 2009. The news comes in the wake of mounting pressure on the FRC, which has come under examination following several recent scandals within the UK’s [...]
Debenhams to reveal huge losses and job cuts in latest sign of retail bloodbath October 24, 2018 The scale of troubles facing beleaguered high street giant Debenhams unfolded this evening, with reports that the department store chain is set to reveal its biggest loss in its 240-year history tomorrow morning. Sky News reported today that Debenhams is set to post statutory annual losses nearing the £500m mark in its statement tomorrow, with plans to [...]
Jes Staley seeks to brush off Bramson challenge but Barclays still faces the headwinds October 24, 2018 Barclays CEO Jes Staley struck a bullish tone yesterday, insisting his investment banking division was on the up. Third quarter profits jumped to £1.5bn, up from £1.1bn a year ago. If this puts a spring in Staley's step, there are plenty of items in his in-tray to pull him back down to earth – not [...]
Moulton to strike Finncap merger with Cavendish October 23, 2018 City broker Finncap is gearing up for a merger with Cavendish Corporate Finance later this week, according to Sky News reports this evening. Veteran venture capitalist Jon Moulton, who bought Finncap eight years ago, is rumoured to be setting up the deal that would combine the two businesses, with plans to list the company on [...]
Disney moves to pacify EU regulators with concessions on $71bn Fox deal October 15, 2018 Walt Disney has made commitments it hopes will please European regulators, allowing its acquisition of Twenty-First Century Fox to go ahead. The concessions, filed Friday with the European Commission, will be considered by EU antitrust authorities, before a decision is reached by 6 November. Read more: Fox and Disney to sell minority Sky stake to Comcast [...]