EU threatens the US with tariff reprisals on Levis, bourbon, peanut butter, cranberries and orange juice as WTO members China and Russia issue warning March 7, 2018 The EU has warned Donald Trump that it will launch tough new levies on US exports of bourbon, peanut butter and motorbikes if he pushes forward with plans to impose steel and aluminium tariffs. Meanwhile 18 WTO members, including China and Russia, have expressed grave concerns about the impact of a potential trade war. The [...]
Woodford-backed Atom Bank grabs £149m as Spanish bank BBVA ups its stake March 7, 2018 Challenger bank Atom, which counts rapper Will.i.am as a board adviser, has today grabbed £149m in its latest capital raising. Atom, which has previously secured backing from investors including Neil Woodford and Toscafund, has already brought in £1.3bn in deposits and lent £1.2bn in residential mortgages and business loans. BBVA, which invested £85.4m and has [...]
Tinder is carrying out a huge company-wide review to close the gender pay gap March 7, 2018 Dating app Tinder said today it will be carrying out a comprehensive review of its compensation structure to assess any pay discrepancy and tackle the gender pay gap. The firm said that it was “determined to play a bigger role in the fight for gender parity in the workforce”, so had commissioned a global consulting [...]
WeWork could move into Debenhams on Oxford Street as retailers seek solutions for excess space March 7, 2018 Debenhams is in talks to rent out space in its Oxford Street flagship store to co-working space provider WeWork, it has emerged. The retailer has put out feelers to find occupants for excess space in its large stores, according to Bloomberg. WeWork has become London’s biggest occupier of office space after rapid expansion in the [...]
Legal & General share price inches up as profits are boosted because the rise in life expectancy is slowing down March 7, 2018 Legal & General today unveiled better-than-expected profits for 2017, and said its dividend would increase by seven per cent. The figures Operating profit rose 32 per cent to £2.1bn from £1.56bn in 2016, while pre-tax profit also increased by 32 per cent to hit £2.1bn, compared with £1.58bn in the previous year. Earnings per share [...]
Paddy Power Betfair clears expectations with revenue jump but braces for Australia regulatory hurdles March 7, 2018 Double-digit revenue growth has strengthened Paddy Power Betfair’s balance sheet ahead of more regulation, the group said this morning. The figures Revenue jumped 13 per cent to over £1.7bn in 2017. Earnings before interest tax depreciation and amortisation (EBITDA) hit £473m, an increase of 18 per cent. With earnings per share up 20 per cent, [...]
Hong Kong Horse Racing Betting Tips: Garlic can leave punters shouting Yeah at Happy Valley March 7, 2018 HONG Kong’s Class 5 events are the equivalent of lowly handicaps in the UK. These races are for horses that are either getting too old – invariably becoming too unpredictable – or are just not very good anymore. The opening contest at Happy Valley is such a race. At first glance, it looks like a [...]
Cybersecurity firm hailed as one of UK’s most successful start-ups edges closer to unicorn status March 7, 2018 A cybersecurity firm that has been lauded as one of the UK’s most successful start ups is close to achieving “unicorn status” four and half years after its launch. Cambridge-based Darktrace, which was set up by a mix of mathematicians and government intelligence experts, started off at a value of £15 through the investment of [...]
DEBATE: Should the government block the Melrose takeover bid for UK engineering giant GKN? March 7, 2018 Should the government block the Melrose takeover bid for UK engineering giant GKN? Jack Dromey, shadow pensions minister and MP for Birmingham Erdington, says YES. The proposed hostile takeover of GKN by Melrose puts a British engineering giant in severe danger of being dismembered and broken up. GKN is a world-class success story, the pride [...]
World’s first passive startup fund from SyndicateRoom which relies on algos has fully invested its £4.5m total March 7, 2018 The world’s first passive Enterprise Investment Scheme (EIS) fund has fully invested its £4.5m total. The innovative Fund Twenty8, run by investment platform SyndicateRoom, is designed to offer retail investors a low-fee portfolio-based approach to startup investing. Fund Twenty8 relies on algorithms to invest its capital in opportunities which are proving popular with high-net-worth and [...]