Preparing for a black swan event in the financial markets March 27, 2019 Global markets are more complex and interconnected than ever. Since the 2008 financial crisis, it’s become increasingly difficult to predict how the behaviour of market participants will affect the broader financial system. Meanwhile, increased automation and the use of high-frequency trading have contributed to flash crashes. We struggle to manage the rapid market movements that [...]
Saudi Aramco signs $70bn deal to buy majority stake in petrochemicals firm Sabic March 27, 2019 Saudi Aramco has signed an agreement to buy a 70 per cent stake in petrochemicals giant Saudi Basic Industries Corp (Sabic) for $70bn (£53bn), the company said today. The state oil firm has secured the purchase from Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), for an agreed price of 123.40 riyals per [...]
Theresa May vows to resign before further negotiations if her Brexit deal is passed March 27, 2019 Theresa May will quit as Prime Minister before the next stage of Brexit negotiations she told her party tonight in a last bid attempt to get MPs to back her deal. Speaking to Conservative MPs in a packed meeting in parliament, May said she was aware her party wanted “new leadership” for any trade negotiations [...]
Brands, don’t let your employees’ bad social media posts harm your reputation March 27, 2019 One of the many lessons of 2018 was how easily a worker’s social media activity can damage a brand’s reputation. I don’t just mean the deliberate attacks made by angry ex-employees, but the accidental disasters caused by well-meaning contributions to the marketing effort. HSBC experienced this in October, when Business Insider published a piece about [...]
Footwear chain Dune tables offer to save struggling retailer LK Bennett March 27, 2019 Footwear chain the Dune Group has tabled an offer for LK Bennett as the struggling fashion retailer’s administrators prepare to select a buyer. Dune, which operates 40 standalone stores and 175 concessions in the UK, was one of a handful of potential buyers to submit final bids earlier this week, Sky News reported. Read more: [...]
TfL leak reveals plans for the world’s longest and tallest bridge across the Thames March 27, 2019 Transport for London (TfL) wants its proposed Canary Wharf Thames crossing to be the tallest and longest vertical lifting bridge in the world. TfL's planned bridge is a 90m tall and 180m-wide vertical lift bridge that will connect Rotherhithe to Canary Wharf across the River Thames. The bridge will be fitted with concrete towers that will be 90m [...]
John Bercow blocks attempt to get round his Meaningful Vote ruling March 27, 2019 John Bercow has given Theresa May another headache after he blocked any attempt to use parliamentary procedures to get round his ruling that the government cannot bring an unchanged Brexit deal back before MPs. The Commons speaker ruled last week that he would only allow a third meaningful vote on May’s withdrawal plan if it [...]
Ousted Nissan chairman Carlos Ghosn had too much power, report finds March 27, 2019 Former Nissan chairman Carlos Ghosn had too much power and was able to hide his misconduct through an “opaque” management system, an explosive report has found. The independent report into Nissan’s governance, commissioned after Ghosn’s dramatic ousting, states the executive built up too much authority and created a “top-down” corporate culture that left employees powerless [...]
Barclays investment bank boss quits amid raft of leadership changes as chief executive Jes Staley takes greater control March 27, 2019 The head of Barclays’ investment bank has resigned amid a raft of leadership changes, which will see chief executive Jes Staley take greater control of the division. Tim Throsby has stepped down as head of the lender’s investment bank, which has come under attack from activist investor Ed Bramson recently. Read more: Barclays issues plea [...]
Rhod Sharp: 25 years of Up All Night March 27, 2019 As presenter of the Media Masters podcast, I have met some extraordinary journalists from print, television and radio. But one windswept day in Marblehead, Massachusetts, I met one man who every one of these people would refer to as a legend: Rhod Sharp. Tomorrow, Rhod will celebrate 25 years at the helm of Up All Night. [...]