Brands pull adverts from Youtube following allegations of child abuse content February 22, 2019 Nestle, Disney, AT&T, Hasbro and the creator of Fortnite have all reportedly pulled advertisements from Youtube following allegations of child abuse content being on the platform. A spokesperson for Nestle said that the food and drink conglomerate has decided to “pause advertising on Youtube globally” following the discovery that “an extremely low volume” of their [...]
Why Lloyds Banking Group pleased its City fan club February 22, 2019 | City Talk Our head of markets explains why the City reacted positively to these results despite a profits miss. Despite missing expectations at a pre-tax profit level, Lloyds Banking Group (LSE:LLOY) is not only in rude health but also has a clear vision on where next to take the business. The bank describes its own model as [...]
Ed Bramson’s Barclays board bid suffers double blow as investment banking unit outperforms European rivals February 22, 2019 Barclays executives doubled down on efforts to scupper activist investor Ed Bramson’s bid to join the board yesterday, armed with better-than-expected results in its investment banking unit. In a further blow for Bramson, who has called for Barclays to scale back its investment bank, one of his key allies in the City, Aviva, said his [...]
Germany’s top court cancels Volkswagen dieselgate hearing February 22, 2019 Germany’s top court has cancelled a much-anticipated hearing over Volkswagen’s diesel emissions scandal, just days before it was set to place. The Federal Court of Justice cancelled a planned hearing for 27 February after the plaintiff withdrew their complaint against the manufacturer. But in a rare move it still gave its opinion, knocking down the firm's [...]
UBS boss vows to protect dividend after €4.5bn fine in French tax fraud trial even if appeal fails February 22, 2019 UBS chief executive Sergio Ermotti has vowed to protect its dividends after being hit by a €4.5bn fine in a French tax fraud trial. Speaking to investors earlier today, Ermotti said the Swiss banking giant would prioritise protecting shareholder dividends if it fails to get out of the huge fine imposed by a French court [...]
Jardine Lloyd Thompson Hong Kong chief executive to retire February 22, 2019 The chief executive of British insurance firm Jardine Lloyd Thompson’s Hong Kong business will step down this year. The company, which is headquartered in London, confirmed today that Kurt Schreiber will retire in July. Read more: Jardine Matheson briefly loses $41bn in value following mystery trade Schreiber took on the chief executive role in Hong [...]
Chickens come home to roost for Mike Coupe as Sainsbury-Asda deal dies February 22, 2019 | City Talk Mike Coupe was a happy chappy back in April. Notably he was caught on camera humming the lyrics to the gold digger's song – 'we're in the money' etc, after announcing a supermarket mega merger like no other. This week however the companies' complete lack of understanding of the Competition and Markets Authority has come [...]
Barclays Bank chairman Sir Gerry Grimstone to step down later this month February 22, 2019 The chairman of Barclays’ investment arm Sir Gerry Grimstone will step down at the end of the month, the bank said today. Grimstone, chairman of Barclays Bank PLC – the group’s non-ring-fenced investment banking wing – has been a member of the bank’s board since 2016 and will also step down as a non-executive director. [...]
HMV Tunbridge Wells becomes seventh store to reopen after closure threats February 22, 2019 New HMV owner Doug Putman reopened another of the chain’s stores earmarked for closure this morning. In the seventh reopening since 27 closures were announced earlier this month, HMV Tunbridge Wells is pulling up its shutters after Putman secured his latest rental renegotiation deal. The Canadian entrepreneur has been looking to strike deals with landlords [...]
‘Lose, lose, lose’: Ireland reveals emergency laws in case of no-deal Brexit February 22, 2019 Ireland has revealed a package of emergency laws in case of a no-deal Brexit, warning that if no agreement is reached it would result in a "lose, lose, lose" for the UK, the European Union and Ireland. Dublin plans to push the new laws through parliament within the next few weeks amid the increasing threat [...]