Five reasons the Anglosphere is more than just a romantic vision – but has real geopolitical teeth December 15, 2016 The Anglosphere, a concept that can trace its lineage back to Winston Churchill’s A History of the English Speaking Peoples, has received renewed interest in the wake of the Brexit referendum. The idea of the Anglosphere has been advanced in recent times by a number of historians, such as Andrew Roberts (A History of the [...]
As Trump packs his cabinet with leading executives, are business people any good at politics? December 15, 2016 Sam Bowman, executive director of the Adam Smith Institute, says Yes. Well, it’d be hard to do worse than the politicians. And Trump’s appointments make some sense. Exxon’s Rex Tillerson, in particular, is experienced at negotiating with the leaders of tinpot kleptocracies – a useful skill in a secretary of state. Mitt Romney’s business success [...]
Punch Taverns takeover: Heineken and pub entrepreneur Alan McIntosh in bidding war December 15, 2016 Punch Taverns is in the midst of a takeover tussle between Heineken and Alan McIntosh, an entrepreneur who was one of the pub company’s founders. Shares in Punch soared as news of the two approaches emerged, ending the day nearly 38 per cent up at 177p. Yesterday morning, City A.M. revealed that McIntosh has tabled [...]
Brexit negotiations are not a zero sum game – here’s why December 15, 2016 Concern for the UK’s banking industry has spread across the country, marking an awkward (but amusing) shift in sentiment among people who were previously keen to trash the sector. Yesterday, the left-leaning Guardian newspaper splashed its front page on worries that “banks need urgent deal on EU to save jobs”, while last week one of the [...]
Central Line closed during rush hour after reports of man with a knife December 14, 2016 The Central Line was closed during rush hour this evening after reports of a "man with a knife" on Bank station. Armed police carried out a search after closing down Bank and Liverpool Street stations. The two stations reopened just after 7pm. Commuters were evacuated causing travel chaos with one calling the ordeal "terrifying". Just been [...]
BI announces its best performing champagne for 2016 December 14, 2016 One of the world's leading fine wine merchants and traders has announced its top performing champagne of 2016. BI, formerly Bordeaux Index, said this year's best champagne on its LiveTrade platform was the 2007 Louis Roederer Cristal, with sales up 53 per cent since it was added to the live, two-way buying and selling platform [...]
Lingerie brand Bluebella secures £1m through crowdfunding for US expansion December 14, 2016 The British brand which created the official Fifty Shades of Grey lingerie has raised £1m – double its original target – in a crowdfunding campaign. Bluebella turned to its fans for help funding an expansion to the US, and reached a grand total of £1,088,700 by the time the campaign ended. Founder Emily Bendell said: [...]
US Federal Reserve raises interest rates to target rate of 0.5 to 0.75 per cent, with “gradual increases” to come in 2017 December 14, 2016 The US Federal Reserve has raised interest rates and set the scene for a further tightening of monetary policy throughout 2017. Rate-setting body the Federal Open Market Committee (FOMC) raised the target range for its federal funds rate to 0.5 to 0.75 per cent. The median expectation of FOMC members for tightening showed three further increases [...]
Brussels regulator sets out hurdles for London Stock Exchange merger December 14, 2016 The London Stock Exchange and Deutsche Boerse last night confirmed receipt of a statement of objections to their merger from the Brussels regulator. The European Commission is understood to have narrowed its focus on to concerns around derivatives clearing. In anticipation of these concerns, the London Stock Exchange said in September that it was exploring [...]
Rupert Murdoch’s 21st Century Fox set to make firm offer for Sky as early as tomorrow December 14, 2016 Rupert Murdoch’s 21st Century Fox is set to lodge a firm offer for Sky as early as tomorrow morning, City A.M. understands. Fox is not expected to stray from the £10.75-per-share value that it had previously agreed to informally with Sky. Read more: More pressure on Murdoch's Fox-Sky deal as pensions lobby group wades in [...]