Neil Woodford backs Provident Financial: Star fund manager throws his weight behind lender. And he had to February 28, 2018 A brace of better-than-expected announcements provided Provident Financial’s shareholders with a much-needed lift boost yesterday. Markets were craving news on two separate investigations by the Financial Conduct Authority. Fines and redress totalling £190m was £100m less than many had feared. Meanwhile, a £300m rights issue was well below the £500m reported over the weekend. A [...]
British Paralympic Association launches new UK classification code February 28, 2018 British Paralympic chiefs have responded to concerns about possible manipulation of the system by launching a new classification code for UK athletes. After consulting with over 390 stakeholders in UK sports, the British Paralympic Association has issued a new code which it says will provide clearer guidelines over classification. Athletes will also be better equipped [...]
Pious attacks on the finance sector are socially destructive February 28, 2018 Attacks on the financial sector are commonplace. The Pope, the Archbishop of Canterbury, and Jeremy Corbyn have all been critical of modern finance while demanding a financial sector that serves the “real economy”. Of course, religion and finance have always been uncomfortable bedfellows, and the extreme left now has a clear preference for a centrally [...]
British businesses must seize this chance to tap into Asian potential February 28, 2018 The Brexit vote has amplified the incentives for UK companies to look further afield than established EU economies – and not a moment to soon. The level of trade with Asia is currently lagging. The EU remains by far the UK’s largest trading partner – China, Asia’s largest market, is only fifth. The “golden era” [...]
Venture capital firm Kindred Capital scoops £80m in one of Europe’s largest ever seed fundraises February 28, 2018 A new venture capital firm, populated by old hands, has today closed one of Europe’s largest ever seed funds with £80m. Kindred Capital’s debut fund is also pioneering an “Equitable Venture” model new to Europe, in which every entrepreneur backed also gets a stake in the fund. This means that, rather than Kindred taking such [...]
A groundbreaking trial will inject zero-carbon hydrogen into the UK’s natural gas network February 28, 2018 A first-of-its-kind energy trial launched in the UK yesterday will explore the potential for reducing carbon dioxide (CO2) emissions by as much as 6m tonnes a year by using more hydrogen to heat homes. The HyDeploy project, which aims to blend up to 20 per cent hydrogen into the normal gas supply, is being led [...]
The London Stock Exchange has been named British company of the year by a prominent UK-Israel trade group February 27, 2018 A prominent UK-Israel business group has awarded the London Stock Exchange Group (LSE) its “British company of the year” award. UK Israel Business, which supports bilateral trade between the two countries, recognised the LSE at a central London dinner last night attended by more than 400 business people. The chief executive of UK Israel Business, [...]
Battle of the Sixes: Thomas Bjorn and Catriona Matthew to form first ever mixed match-play team at GolfSixes event February 27, 2018 Ryder Cup skipper Thomas Bjorn and Solheim Cup counterpart Catriona Matthew have been named as the first mixed team ever to be entered in a professional match play tournament. Bjorn and Matthew are set to comprise one of four wild card teams competing in the second edition of the GolfSixes event at Centurion Club, St [...]
An influential advisory group has just told Melrose shareholders to oppose its hostile bid for GKN February 27, 2018 Turnaround group Melrose Industries has stumbled across another potential hurdle to buying out engineering giant GKN, as an influential advisory group today advised shareholders to oppose the its hostile bid. Shareholder consultancy Pensions & Investment Research Consultants (Pirc) told investors in FTSE 250-listed Melrose that there were “various issues” surrounding the proposed takeover that “cannot [...]
Trevor Steven: Why Diego Simeone is my choice to succeed Arsene Wenger as Arsenal manager February 27, 2018 Sunday’s comprehensive defeat to Manchester City in the Carabao Cup final has left the Europa League as the only straw for Arsene Wenger to clutch at in the hope of staying in charge of Arsenal beyond the summer. But while winning that trophy – their only realistic hope of returning to the Champions League – [...]