Goldman Sachs boss David Solomon’s assistant charged with stealing $1.2m in rare fine wine January 17, 2018 While Goldman Sachs today announced its latest financial results, one of the US investment bank giant’s top bankers may have had other things on his mind as his former personal assistant was charged with stealing from his rare wine collection. Nicholas De-Meyer was named in an indictment unsealed today in a Manhattan court, according to [...]
Chris Tremlett: Regardless of how the situation has been handled, Ben Stokes has been sorely missed by England and his clearance to play is great news January 17, 2018 When the news of Ben Stokes being cleared to return to international duty flashed up on my phone this morning, my reaction was one from a cricketing perspective and what great news it is for England. Stokes was sorely missed during the Ashes and hopefully he will be ready to play when called upon for [...]
Asset manager consolidation continues as Franklin Templeton swallows up Edinburgh Partners January 17, 2018 The big fish of the asset management world are continuing to hunt down their smaller rivals, as Franklin Templeton Investments today announced it is set to buy Edinburgh Partners. The Scottish asset manager, which currently manages around $10bn (£7.2bn), is speculated by market sources to have sold for a value in the region of £200m. [...]
RBS-GRG memo “Just Hit Budget” told staff that clients need to “hang themselves” and “basket cases” can be “remunerative” January 17, 2018 RBS staff were advised by a colleague to “let [small business] customers hang themselves” in the wake of the financial crisis, according to an internal memo published yesterday. Employees at the bank’s now defunct restructuring unit GRG were encouraged to raise fees to a level that clients “normally cannot afford”, in order to “leaverage [sic] [...]
Bitcoin price (BTCUSD) drops below $10,000 as ethereum (ETH) and Ripple (XRP) follow suit January 17, 2018 Bitcoin dropped below $10,000 today having halved from its peak of nearly $20,000 as fears of a regulatory clampdown persisted. The cryptocurrency dropped to as low as $9,801, its lowest point since before December, according to Coindesk’s aggregate price index. Bitcoin’s market cap has shed tens of billions of dollars since Monday as the digital [...]
UK pay growth will accelerate and jobless rate will hit fresh lows, insists Bank of England’s Michael Saunders January 17, 2018 Michael Saunders, a member of the Bank of England’s monetary policy committee, has insisted that UK pay growth will accelerate this year as the labour market tightens. Though subdued, he predicted the rise in the size of UK pay-packets would also be likely to overshoot consensus estimates to rise to three per cent year-on-year in [...]
Crossrail hands over Soho Place site to Derwent London for retail revamp and new West End theatre over Tottenham Court Road station January 17, 2018 Crossrail has handed over a West End site to developer Derwent London for work to get underway to develop a major £260m project over Tottenham Court Road station encompassing offices, retail and a new theatre. Crossrail land and property director, Ian Lindsay, said: This is the first Crossrail site to be handed over for full [...]
Train drivers’ union Aslef says the RMT is blocking a four-day working week for Tube drivers January 17, 2018 Unions are divided over the prospect of a four-day working week for Tube drivers, with Aslef saying the Rail, Maritime and Transport (RMT) union has blocked the proposals. A trial agreed with London Underground had previously been held on the Jubilee Line for six months of four-day rosters, and train drivers’ union Aslef said many [...]
Mayor Sadiq Khan unveils London Licence to safeguard pay for the capital’s bus drivers when they switch firms | City A.M. January 17, 2018 Sadiq Khan today unveiled a new “Licence for London” to ensure bus drivers can switch companies at a pay grade equivalent to their level of service and experience. The mayor said the move will provide a fairer deal for the capital’s 25,000 bus drivers, bringing an end to the previous system where drivers moving from [...]
GKN rejects Melrose’s hostile £7.4bn bid January 17, 2018 GKN has rejected an increased £7.4bn offer from industrial turnaround specialist Melrose after the firm ramped up its hostile bid for the engineer. Melrose today raised its offer to 430.1p per share following a meeting with the company’s shareholders this week. The increased offer is based on a rise in Melrose’s own share price, which [...]