Arsene Wenger defends timing of his resignation but Arsenal manager says announcement was not his decision April 25, 2018 Arsenal manager Arsene Wenger insists he was happy with the timing of his resignation, despite admitting it had not been his decision to announce it last week. Wenger was asked today why he was stepping down and why he had chosen to go public with the news just days before tomorrow night’s Europa League semi-final [...]
Facebook shrugs off Cambridge Analytica scandal to beat market expectations in first quarter results April 25, 2018 Facebook has beaten analyst expectation on revenue and profit in its first quarter results. The social media colossus brushed past the Cambridge Analytica scandal to deliver revenue of nearly $12bn (£8.6bn), up 49 per cent on the same quarter last year and ahead of the analyst expectation of $11.42bn. Earnings per share were $1.69 a [...]
US President Donald Trump “to visit UK in July” April 25, 2018 US President Donald Trump is to make his first official visit the UK this July, the UK government is poised to confirm. Update: This has now been confirmed – more details are here According to Sky News, Trump’s trip has been scheduled for mid-July and will be announced in the next day or two. Earlier [...]
Nex and CME’s advisers to land bumper £110m payout for negotiating £3.9bn takeover April 25, 2018 Advisers who worked on the £3.9bn takeover of trading tech company Nex Group by CME Group, the world’s largest futures exchange, are set to land a combined payout of almost £110m. Nex’s financial and corporate brokers, lawyers and public relations (PR) advisers will get a combined £45m, filings today showed, while CME’s will get £63.3m. [...]
Activist investor Bramson ups stake in Barclays April 25, 2018 Activist investor Edward Bramson has boosted his stake in Barclays ahead of the bank’s quarterly results on Thursday. Bramson has increased his share in the bank from 5.16 per cent to 5.41 per cent via his investment vehicle Sherbourne, according to a stock exchange filing. The bank is set to release its results for the [...]
Philip Hammond grilled by Labour MPs Wes Streeting and John Mann over Lycamobile in explosive Treasury committee hearing April 25, 2018 The UK is “in the foothills of discussions” about financial services being included in the final Brexit deal – but the chancellor did not commit to it being included in October’s agreement. Speaking at the Treasury Select Committee this afternoon, Philip Hammond said he was “ambitious to make progress” – but he declined to comment [...]
Persimmon in close shave as almost half of shareholders refuse to permit pay report which awarded boss £110m April 25, 2018 Homebuilding giant Persimmon just about managed to keep its house in order today, narrowly avoiding a full-blown shareholder revolt at its AGM. The housebuilder had been in hot water over a long-term incentive plan (LTIP), approved by shareholders in 2012, which awarded its boss Jeff Fairburn a massive £110m bonus. Although Fairburn has agreed to [...]
Arsenal v Atletico Madrid: Arsene Wenger’s long and storied history of European disappointments – and his last shot at redemption April 25, 2018 While Arsene Wenger’s first match as Arsenal manager is officially listed as a 2-0 win against Blackburn at Ewood Park on 12 October 1996, it is almost forgotten that the Frenchman effectively took charge two games earlier. During half-time of a Uefa Cup fixture at Borussia Moenchengladbach, an impatient Wenger left his seat alongside David [...]
Boss’s £110m bonus package “tarnishes Persimmon’s name” says riled major shareholder Aberdeen Standard, as AGM results “too close to call” April 25, 2018 One of housebuilder Persimmon’s top-ten shareholders has blasted the “excessive” pay of its boss Jeff Fairburn for “tarnishing” the company’s name, at its annual general meeting (AGM) earlier today. Euan Stirling, head of stewardship at Aberdeen Standard Investments which owns 2.3 per cent of Persimmon, explained that his firm had voted down Persimmon’s pay report [...]
Credit Suisse profits surge as bosses hail cost-cutting drive April 25, 2018 Profits at Credit Suisse surged in the first quarter to deliver the Swiss bank’s strongest quarter in almost three years, beating analyst expectations. The figures Pre-tax income rose by 57 per cent year-on-year to hit SFr1.1bn (£800m), according to an update published today, while profits rose by 36 per cent adjusting for one-off charges – [...]