Stobart chief accused of fostering ‘bullying culture’, over actions in retaliation to controversial letter June 11, 2018 Chief executive Warwick Brady has waded in on the letter which saw over 20 unnamed executives write to the board of Stobart Group, requesting the resignation of its chairman. The letter in question called for Iain Ferguson to step down ahead of the company’s annual general meeting next month, as a result of reported unhappiness [...]
HSBC to invest up to $17bn in expansion and tech as it swings to ‘growth mode’ June 11, 2018 HSBC will invest as much as $17bn (£12.7bn) in expanding its network and adopting new technology as it puts a period of restructuring behind it, its chief executive announced today. The UK's largest bank by assets will invest between $15bn and $17bn "primarily in growth and technology", chief executive John Flint said in an announcement. [...]
Labour MPs urge investigation over ’embarrassing’ JezFest concert June 11, 2018 Labour MPs are demanding answers from the party HQ over the coming weekend's political and musical concert dubbed JezFest. The one-day Labour Live event will take place in Tottenham, north London, on 16 June. Musical acts include The Magic Numbers and Reverend and the Makers, alongside speeches by John McDonnell, Kate Osamor and activist Owen [...]
Google is misusing GDPR to gain more control and may provoke a backlash from its clients June 11, 2018 The implementation of the General Data Protection Regulation (GDPR) has driven numerous privacy policy updates and shifts in the way many businesses operate, including Google. But there are increasing concerns that some of the changes made by the tech giant aren’t just to meet compliance requirements, but instead are anti-competitive actions that expand its monopolistic [...]
Inmarsat share price soars more than 12 per cent after confirming Echostar takeover approach June 11, 2018 Shares in satellite giant Inmarsat have soared more than 12 per cent in early trading, after the company confirmed on Friday that it had received a takeover offer from Echostar. Last week, the group said it had received "a highly preliminary and indicative non-binding proposal from Echostar Corporation", which it then rejected. Inmarsat said the [...]
French beauty giant L’Oreal defeated in High Court scrap with US start-up June 11, 2018 Beauty behemoth L’Oreal lost a High Court case today to a Californian start-up that makes a hair product used by celebrities such as Kim Kardashian. Start-up Olaplex sued L’Oreal for infringing its patent for its Bond Multiplier hair lightening product. Olaplex’s product has been used on celebrities such as actor Drew Barrymore, singer Jennifer Lopez [...]
First look: London’s roadmap to becoming the world’s smartest city June 11, 2018 Mayor of London Sadiq Khan will today reveal more details around his plan to make London the world’s smartest city, as chief digital officer Theo Blackwell gives City A.M. the inside scoop. The Smarter London Together roadmap, which will be discussed in full tomorrow in collaboration with Transport for London (TfL), is proposing more than [...]
Pop-Up Padel comes to Canary Wharf for the second year running June 11, 2018 Canary Wharf might be best known for its busy commuters and corporate buildings, but for the next three weeks workers and visitors will be descending on the financial district for a game of pop-up padel. Better known as “squash in the sun”, the racket sport that combines elements of tennis, squash and badminton will be [...]
Ranked: London boroughs where the most homes were sold last year June 11, 2018 The proportion of homes sold in London was lower than any other part of England and Wales last year, according to analysis of Land Registry data by property group Knight Frank. In total, 3.2 per cent of all private London residential properties were sold in 2017, well below the average of 4.1 per cent for [...]
City watchdog Andrew Bailey defends controversial rules to clear way for Saudi Aramco London listing June 11, 2018 The top financial watchdog has split the City with controversial changes to listing rules which could allow Saudi Aramco to list in London, but Financial Conduct Authority (FCA) boss Andrew Bailey insists the reforms will raise standards. From July the regulator will create a new category with less strict requirements within its “premium” rules for [...]