Unilever has finally sold its spreads business December 15, 2017 Shares in Unilever finished 1.3 per cent higher after it said it had finally sold its global spreads business for €6.8bn (£5.1bn). The company said it had agreed a deal with KKR to buy the business, which includes Flora, I Can’t Believe It’s Not Butter and Stork. KKR are thought to have beat CVC Capital [...]
What a LED-down: Luceco shares drop 46 per cent after accounting error December 15, 2017 Luceco was the biggest faller on the main market today after it revealed an accounting error. The LED maker’s financial controller has resigned after it emerged that a weak margin had not been identified, due to a miscalculation of the group’s value. Read more: This diamond producer’s share price has dropped more than 35 per [...]
Pound sterling tumbles against the dollar and the euro as Jean-Claude Juncker warns on Brexit talks (GBPUSD GBPEUR) December 15, 2017 The pound fell against both the dollar and the euro in lunchtime trading, after European Commission president Jean-Claude Juncker warned the next round of Brexit talks will be “harder”. Sterling was down 0.9 per cent against the euro, at €1.1298, and 0.8 per cent against the dollar, at $1.3327, despite European leaders giving the green [...]
GMO Internet to pay employees in Bitcoin as it prepares to enter mining business December 15, 2017 Company perks can come in strange forms in the world of tech. But beer Fridays, office dogs and football tables all look pretty tame compared to one Japanese company’s offer to pay its staff in Bitcoin. GMO Internet, which has a Bitcoin trading and exchange business, will pay participating employees up to 100,000 yen, or [...]
Greenwich councillors say Trump not “welcome” in Royal Borough during UK state visit December 15, 2017 If Donald Trump had been hoping to visit the O2 or the Royal Naval College any time soon, he’s out of luck. The US President has been effectively barred from the Royal Borough of Greenwich ahead of his planned state visit to the UK next year. Greenwich’s Labour council called on the government to back [...]
Proceed with caution: EU leaders give thumbs-up to second phase of Brexit talks December 15, 2017 EU leaders have given the green light for the second phase of Brexit talks to begin, the president of the European Council said today. Donald Tusk congratulated Theresa May as he announced on Twitter that leaders had agreed to move on to the next stage, which are expected to focus on trade and the all-important [...]
London Overground Night Tube service arrives today: Here’s what you need to know about the new 24-hour service, including route map and timings | City A.M. December 15, 2017 You may have heard the Night Tube is expanding once more, and branching out to the London Overground this week. From tonight, new 24 hour services will get underway each Friday and Saturday between Dalston Junction and New Cross Gate. Here’s what you need to know about the rollout, including whether more Night Tube services [...]
Russian navy could cut cables between US and NATO nations including the UK December 15, 2017 Russian submarines could cut off communications cables between the US and the UK, a defence chief has warned. Sir Stuart Peach, chief of the British defence staff, said that Russian ships have been spotted close to Atlantic cables which are essential for international commerce and the internet. A report by think tank Policy Exchange estimated [...]
Chairman and remuneration committee head resign from FTSE 100 housebuilder Persimmon over huge payouts December 15, 2017 The chairman of Persimmon is to resign, a day after City A.M. revealed that the housebuilder is set to hand over huge payments to its senior team. Nicholas Wrigley has said he will leave the company once a successor has been found. Senior independent director Jonathan Davie, who chaired the remuneration committee, also resigned yesterday. [...]
London office bonanza as City deals drive record take-up December 15, 2017 Businesses continued to flock to the capital in last month, leasing a staggering 1m sq ft of new office space, according to new figures – boosted by the highest take-up in the City since 2004. Data by CBRE showed the amount of office space leased in central London rose 36 per cent in November compared [...]