Findel says it has backing of major shareholder in blow to Ashley bid April 1, 2019 Online shopping specialist Findel claimed today that it had the support of its second largest shareholder, as it looks to see off a takeover bid from Sports Direct. In the latest blow to retail tycoon Mike Ashley, the British home shopping company published a letter of support from Schroders, which controls an 18.85 per cent [...]
Still doubting the benefits of free markets? Just look at Ethiopia April 1, 2019 “It's a zero-sum game,” says Gordon Gekko in Oliver Stone’s 1987 film, Wall Street. “Somebody wins, somebody loses.” This sentiment relies on the idea is that there is a fixed amount of wealth to go round. It is nonsense – yet many, perhaps unthinkingly, believe it. Read more: Editor's Notes: The future of capitalism deserves more [...]
Top banks to field MEP candidates across the UK to protect the City’s interests April 1, 2019 Top banks to field MEP candidates across the UK to protect the City's interests The prospect of British voters being asked to participate in next month's European Parliament elections has triggered an audacious move by some of the UK's biggest banks to field candidates in a bid to protect the Square Mile's interests, City A.M. [...]
John McDonnell’s Marxist ideas for financing would be a disastrous experiment March 31, 2019 While the Brexit process pushes the British constitution to its limits, the Labour party continues to develop and promote policy proposals that, if implemented, would make the UK’s torturous departure from the European Union look like a modest tweak to our political operating system. While all of Westminster focuses on the near collapse of functioning [...]
Barclays raise concerns over Bramson’s shareholding with Bank of England and US Fed March 31, 2019 Barclays has raised concerns with the Bank of England and the US Federal Reserve over activist investor Ed Bramson’s shareholding. The US-based investor has ensured his holding is hedged by time-limited derivatives, limiting his exposure to a fall in the company’s share price as he pushes for a seat on the board next month. Read more: [...]
Hedge funds take out £86m bets against British Gas owner Centrica March 31, 2019 Hedge funds are taking out record bets against British Gas owner Centrica as the energy sector faces challenges from Ofgem’s price cap. The cap, which increases from tomorrow, has put pressure on suppliers’ margins. Read more: UK must decarbonise heating, Centrica boss says Disclosed so-called short positions in the Big Six energy supplier have risen [...]
Zuckerberg: Governments must help Facebook and other web giants regulate harmful content March 31, 2019 Mark Zuckerberg has called on regulators and governments to take a “more active role” in controlling content on the internet. Writing in the Washington Post, Facebook’s founder said firms like his could not be expected to shoulder all the responsibility for moderating harmful content. Read more: Access to Facebook Live to be restricted in wake [...]
Jeff Bezos investigator accuses Saudi government of hacking Amazon chief’s phone March 31, 2019 An investigator hired by Jeff Bezos has said Saudi Arabia hacked the Amazon chief's phone and gleaned private data from it. Bezos, one of the world's richest men who owns the Washington Post newspaper, hired Gavin de Becker to find out how his private messages regarding an extra-marital affair had been leaked to US tabloid the National [...]
Babcock could appoint Rolls-Royce director Cairnie as first woman chair within weeks March 31, 2019 Defence giant Babcock is planning to appoint a female director at Rolls-Royce as its next chair, according to reports. Ruth Cairnie, a non-executive director on the engine maker’s board and former executive at oil giant Shell, could be named the contractor’s chair within weeks. Read more: Defence giant Babcock's chairman to step down after decade [...]
Philip Day steps back from race to buy collapsed high street shoe store LK Bennett March 31, 2019 Philip Day, the billionaire owner of retailer Edinburgh Woolen Mill, has removed himself from the competition to buy collapsed shoe seller LK Bennett. The retail tycoon had lodged a bid with administrators at EY, joining Sports Direct boss Mike Ashley, as well as Chinese fashion entrepreneur Rebecca Feng and former LK Bennett chief executive Darren [...]