Bad debt Britain: Credit insurer claims hit highest level since the financial crisis March 16, 2018 Credit insurers are being hit with the highest level of bad debt claims for nine years, a clear indication UK businesses are facing the most challenging trading environment since the financial crisis. More than £4m is being paid out each week, the most since 2009, according to figures released today by the Association of British [...]
Citigroup boss Michael Corbat paid 369 more times than average employee at the bank last year March 15, 2018 Citigroup boss Michael Corbat was paid 369 times more than the average employee at the bank in 2017, regulatory filings revealed today. Corbat, the bank’s president, was paid $17.8m (£12.77m) last year compared to the median pay of all Citi employees which was $48,249. He also received a 48 per cent pay rise in 2017, [...]
No country for rugby men? How tiki-taka philosophy put Spain on the cusp of Rugby World Cup glory March 15, 2018 Former flanker turned Hollywood star Javier Bardem once described playing rugby in Spain as “like being a bullfighter in Japan”. Despite its proximity to the relative European rugby powerhouses of France and Italy, the sight of a cauliflower-eared back rower in the land of Real Madrid and Barcelona would be as incongruous as a traditionally-clothed [...]
Snapchat shares fall after Desperado singer Rihanna blasts app over domestic violence advert March 15, 2018 Shares in tech company Snapchat fell more than four per cent today after singer Rihanna blasted the app on social media. The Bajan popstar, 30, hit out at Snapchat after it featured an advert that made fun of her 2009 assault by her then boyfriend, US singer Chris Brown. Rihanna said on Instagram: “SNAPCHAT I [...]
Munich Re eyes up the skyscraper plot by the City’s Leadenhall Market March 15, 2018 Munich Re, the largest reinsurer in the world, is in talks with Brookfield Property Partners about acquiring the One Leadenhall plot. The site on the corner of Gracechurch Street and Leadenhall Street sits adjacent to Lloyd’s of London. The plot has approval for a 36-storey tower. The skyscraper, which is designed by Foster and Partners, [...]
Experian to acquire London fintech startup Clearscore in £275m deal March 15, 2018 Experian, the world’s biggest credit data company, has bought London-based fintech company Clearscore in a £275m deal. The credit checking firm’s CEO Brian Cassin said the deal was “another important step in our strategy to extend the services we provide to UK consumers”. Clearscore launched in July 2015 and now offers over 6m UK customers [...]
Helios Towers pulls £2bn London IPO as it considers merger options March 15, 2018 Helios Towers, an African telecoms tower company, cancelled its plans to float on the London Stock Exchange this morning. Though Helios gave no reasons for pulling the initial public offering (IPO), saying it had received “considerable institutional investor interest”, a source told City A.M. that the business was exploring merger opportunities. Eaton Towers, a similar [...]
The Skripal case has woken up the bloody difficult woman in Theresa May – and it might just save her leadership March 15, 2018 As a Prime Minister, Theresa May has many weak points. Her inability to keep a lid on tensions within the Conservative party is well documented, for example, while her robotic manner means she has failed to shed her “Maybot” image, earned during last year’s disastrous general election campaign. As a home secretary, she was far [...]
The US has just announced fresh sanctions against Russia March 15, 2018 The US Treasury has unveiled sweeping sanctions against Russia, citing “malign Russian cyber activity, including their attempted interference in the US elections”, as well as the attack on a former spy in Salisbury. In total five entities and 19 individuals, who were named as subjects of an indictment in February, are being slapped with a [...]
HSBC’s women are paid 60 per cent less than men March 15, 2018 HSBC’s female staff in the UK are paid 60 per cent less than men, according to gender pay gap data which reveal one of the biggest differences among the big banks who have reported so far. The 60 per cent mean pay gap for hourly pay increased from 59 per cent in 2017, although for [...]