Facebook to toughen up rules on political ads in countries with major elections January 16, 2019 Social media giant Facebook has said it will toughen up existing rules on political advertising in all countries facing major elections this year, following scrutiny surrounding ads on its platform during previous events. The firm said today that it will also expand some of its tools for curbing election inference, with Nigeria, India, Ukraine and the [...]
Climate change and cyber threats among biggest risks in 2019, World Economic Forum warns January 16, 2019 Climate change and evolving cyber threats are among the biggest risks in 2019, the World Economic Forum (WEF) has warned. But the organisation said geopolitical tensions, such as the US-China trade dispute, were hindering the fight against climate change and could impact global growth in the coming year. The WEF’s global risks report – ahead [...]
Goldman Sachs shares soar after bank defies market turbulence to beat revenue forecasts January 16, 2019 Goldman Sachs shares have soared after the US bank defied market conditions to deliver stronger-than-expected earnings in the fourth quarter. The bank posted revenue of $8.1bn (£6.3bn) in the three months to the end of December, higher than forecasts of $7.5bn and slightly up on the same period in 2017. Shares in the New York-based [...]
Patisserie Valerie reveals balance sheet was significantly manipulated in ‘devastating’ fraud January 16, 2019 Patisserie Valerie posted a bombshell update to the market this afternoon, admitting that its balance sheet was “significantly” manipulated and thousands of false entries were made into the high street baker’s books before a shock £40m black hole was discovered last year. The troubled firm has appointed RSM as auditors and KPMG has been hired to [...]
WPP mergers fall amid restructuring plan despite increase in deals across sector January 16, 2019 Advertising giant WPP saw its M&A activity halve last year, despite a rise in the total number of deals among marketing communication firms. WPP completed 15 deals in 2018, down from 30 the year before, according to research by Results International. Read more: Brexit, ad fraud and #MeToo – what does the future year hold for [...]
Personality traits of self-made millionaires: What really makes them tick? January 16, 2019 Many people want to get rich, as demonstrated by the countless “get rich quick” guides out there. What's extraordinary is how these guides are often written by people who are not rich, nor have they carried out research into the subject. In order to write my book, The Wealth Elite, I conducted 45 in-depth interviews, primarily with individuals who [...]
Blackrock investigates hoax letter to chief executives over climate change January 16, 2019 Blackrock is investigating a hoax letter published this morning, claiming to be from chief executive Larry Fink, that warned companies that the world’s largest investment firm would divest unless they took action against climate change. The letter, which was posted on a spoof Blackrock website as the company reported its financial results, said the investor [...]
Sears chairman wins auction for troubled department store chain with $5.2bn bid January 16, 2019 The chairman of bankrupt US department store chain Sears has won an auction for the retailer with a bid of $5.2bn (£4bn). Read more: Bidders table competing offers for struggling HMV Eddie Lampert prevailed in the auction today after weeks of back-and-forth negotiations. Lampert’s bid, made through his hedge fund, ESL Investments, will keep up to [...]
Offers on the table for HMV, say administrators January 16, 2019 Rescue offers have been made for beleaguered retailer HMV, its administrators confirmed today. Big Four accountancy firm KPMG, which had set a deadline of Tuesday this week for interested parties, said today that several offers have been put on the table for the 97-year-old chain. However, the identity of the bidders is not yet known. Will [...]
Jeremy Corbyn urges MPs to bring down May’s ‘zombie government’ in no confidence vote January 16, 2019 Jeremy Corbyn has urged MPs to trigger a general election as he attacked Theresa May’s “zombie government” for being unable to secure a Brexit deal. The Labour leader hit out at the Conservative’s record in power as he moved a motion of no confidence against the government in the Commons. Corbyn claimed the electorate should [...]