Mike Ashley moves to oust Rangers chief Graham Wallace after taking £4.3m stake October 8, 2014 Retail tycoon Mike Ashley has bought five per cent of Scottish football club Glasgow Rangers as part of a move to oust the chief executive and a director from the board. Ashley, who owns Newcastle United and has made a series of investments in recent weeks including buying shares in Tesco and Debenhams, took the [...]
Sainsburys, Asda, House of Fraser, Shop Direct and 15 more businesses will let customers pay via mobile with Zapp October 8, 2014 Sainsbury’s, Asda and House of Fraser are just some of the country’s biggest shops that will soon let customers pay for items using just a mobile phone via Zapp. The mobile technology, already supported in the apps of UK banks such as HSBC, Nationwide and Santander, will be supported by more than 15 high street [...]
EC to decide on EDF’s £16bn Hinkley Point nuclear plant project today October 8, 2014 The European Commission is to decide today whether controversial plans to build a government-backed nuclear power plant in Somerset will go ahead. Proposals for the £16bn Hinkley Point plant, which will be built by French energy giant EDF, are being examined by the EC to establish whether the deal constitutes illegal aid. If [...]
HSBC boss Alan Thomson quits and bankers mutiny over jail threat October 7, 2014 Top bankers are quitting the industry in protest at new rules which mean senior staff in failed banks could face jail unless they prove themselves innocent, with one HSBC boss leaving and another threatening to go yesterday. Their actions prompted a swathe of bankers and lawyers to warn that plans to reverse the burden of [...]
Daniel Stewart Securities’ Champagne Odyssey Christmas party invites sent on same day as suspension of shares statement October 7, 2014 It was a busy day for Daniel Stewart Securities yesterday. A hectic morning at the City-based investment bank involved sending out invitations to its lavish Christmas party – dubbed A Champagne Odyssey to be held at Brown’s on Old Jewry. Three hours later the bank, founded in 1989, was rushing out a statement regarding its [...]
London’s firms fume over poor mobile service October 7, 2014 Coventry, Manchester and Birmingham are beating the capital for mobile network performance, with faster data speeds and fewer dropped calls, leaving London trailing in fifth place according to new research published today. The data, from leading mobile analytics firm RootMetrics, will disappoint businesses that rely on robust mobile networks in London to power commerce and [...]
Glencore knocked back but not giving up October 7, 2014 Multinational mining company Glencore has said that it is no longer actively considering a £100bn merger with larger rival Rio Tinto, despite talks between its bosses. In a statement yesterday afternoon, however, Glencore kept the door open for a future offer – even hinting that this could come within the six-month waiting period imposed by [...]
British MEPs confident that Lord Hill will win finance brief in EU October 7, 2014 LORD Hill is unlikely to be stripped of his banking union brief despite reports to the contrary, a senior UK member of the European parliament told City A.M. last night. Following a day of uncertainty for Hill, the UK’s new man in the EU, British MEPs are confident that he has done enough to secure [...]
IAG and Carnival share prices hit as deadly Ebola virus arrives in Europe October 7, 2014 News that the deadly Ebola virus has reached Europe gave UK travel companies a rocky ride yesterday, with share prices falling across the board. Some of the biggest losers on the news that a nurse in Spain had been infected on EU soil were British Airways parent group IAG and cruise operator Carnival. Both companies [...]
Clegg: Lib Dem policy on airport expansion makes no sense to me October 7, 2014 LIBERAL Democrat leader Nick Clegg has admitted that his party’s decision not to back airport expansion in the south of England doesn’t make sense. His comments came after the decision, reached after a vote at the party’s annual conference in Glasgow, received fierce criticism from business groups, which wrote it off as damaging. John Cridland, [...]