What Italy’s political situation means for Brexit May 29, 2018 The chaotic political situation in Italy is putting the country's membership of the euro front and centre – and with it, the longer term question of the European Union. Over the weekend, unelected former IMF official Carlo Cottarelli — dubbed “Mr. Scissors” because of his support for austerity — was named interim Prime Minister. President [...]
Online wealth manager Moneyfarm raises £40m in round led by Allianz as FCA scrutiny fails to deter investment in robo-advice May 29, 2018 Digital wealth manager Moneyfarm has today grabbed £40m in a funding round led by the asset management arm of insurance giant Allianz. The funding round – which saw contributions from new parties Endeavor Catalyst and Italy's Fondazione di Sardegna, as well as existing investors United Ventures and Cabot Square Capital – is the largest to [...]
Marks & Spencer’s share price falls as FTSE100 demotion looms May 29, 2018 Pressure is piling on troubled retailer Marks & Spencer, which faces being demoted from the FTSE100 after the index closes today, as its share price tumbled this morning. Officials will reshuffle indices based on close of business market values today, ahead of an announcement tomorrow. As things stand, Mediclinic and G4S both look to be [...]
Dixons Carphone’s share price drops 20 per cent on profit warning May 29, 2018 Dixons Carphone's share price fell nearly 20 per cent this morning as the electronics giant warned profit will be 21 per cent lower this year than last year. In a trading update the retailer said pre-tax profits for 2017-18 would be £382m, down from £501m last year. The following year's profit is expected to be [...]
Smell the coffee: Pret A Manger sold after 10 years with Bridgepoint May 29, 2018 Sandwich chain Pret A Manger has been sold by its private equity owners for an undisclosed sum, with reports suggesting it could be as much as £1.5bn. JAB Holdings has snapped up the ubiquitous cafe from its owners Bridgepoint, who have been looking to offload it for some months. JAB is acquiring its stake in [...]
In-demand shared office firm IWG rejects offer from US investor Prime Opportunities May 29, 2018 Shared office space firm IWG has rejected an offer from Los Angeles-based property investor Prime Opportunities, just two weeks after it confirmed it had received offers from a trio of other firms. Prime Opportunities said that it had led a consortium which made a cash offer for the entire business, but that IWG had dismissed [...]
Takeda investors turn up the heat on execs with £46bn Shire takeover opposition May 29, 2018 Takeda's £46bn takeover of London-listed Shire "carries overly high risk", a bloc of investors in the Japanese pharma giant said today. The board Irish-headquartered Shire conditionally accepted an approach from Takeda at the fifth time of asking last month. If completed, the deal would be the largest overseas acquisition by a Japanese firm. Takeda's pursuit [...]
Uh-oh millennials: London is now the second-priciest city in the world for avocados May 29, 2018 The average price of goods overall has dropped in London since Brexit, but avocados will still set you back big time, according to a new study of global cities by wealth manager UBS. The UBS Prices and Earnings report compares the cost of living in 77 cities worldwide, and this year found that Zurich is [...]
The UK risks becoming ‘over-reliant’ on HS2 for national rail strategy, warns transport thinktank May 29, 2018 The UK risks becoming too reliant on HS2 to plug the gap in its national transport strategy, analysts have warned. Transport thinktank Greengauge 21 has said that in order to develop a truly "national" strategy, the UK needs to move away from the “hub-and-spoke” model centred on London to a network that links together upgraded [...]
Top tips for PAs booking business trips May 29, 2018 Getting things right first time is essential when booking a business trip for your boss. Thankfully, our handy guide makes the whole process a cinch. How To Make Booking Your Boss’s Business Trips A Breeze While booking holidays for ourselves is often an exciting and rewarding experience, booking business trips for the boss can often [...]