UK investment firm Man Group has just become the first foreigner to set up a quantitative hedge fund in China December 11, 2017 Man Group, the City-headquartered investment firm, has just launched its first hedge fund in China. The fund will follow a quantitative investment strategy, meaning it will choose where to place money by relying on algorithms or systematic programming. Man’s foray to the east will be the first time that a foreign firm has ever set [...]
Live: Theresa May confirms Brexit divorce bill will be £35-£39bn, says transition period will be agreed early next year December 11, 2017 Theresa May has confirmed the UK will pay the EU somewhere between £35bn and £39bn to leave the bloc – but said that money would be taken “off the table” if a trade deal is not agreed. The Prime Minister has also said she believes a transition, or implementation period, will be agreed early next [...]
Ineos is shutting down its huge Forties pipeline to fix a crack December 11, 2017 One of the oldest and largest pipeline systems in the North Sea will be shut down due to a cracked pipe. The Forties pipeline system (FPS) carries about 40 per cent of North Sea oil and gas. Ineos, which completed its $250m (£187m) acquisition of the FPS from BP at the end of October, said [...]
HSBC, JP Morgan and American Express back cyber startup Menlo Security in $40m series C | City A.M. December 11, 2017 A cyber security startup has won backing from several top financial institutions amid the growing threat of hacking and data breaches. HSBC, JP Morgan and American Express’s venture arm are among investors in a $40m series C funding round for Menlo Security, a Silicon Valley startup which provides protection against malware. Ericsson Ventures also participated, [...]
Deltic Group posts a loss but refurbishment and sales pushes increase admissions December 11, 2017 Bar and club operator Deltic Group reported a loss for the year to February this year, but regained some ground during quieter periods with its drinks offers. The results predate Deltic’s aggressive move into M&A this year, when it faced off Stonegate in a bidding war for Revolution Bars and eventually bought a stake in [...]
Could these European stock market sectors offer the most value in 2018? December 11, 2017 | City Talk This European stock market outlook is taken from a series of Schroders investment outlooks for 2018. Go to Insights for the full selection. Our central view is that inflation will pick up over the medium term and therefore a value skew is likely to be appropriate for investors in European equities. By value, we mean [...]
SFO lives to fight another day as Amber Rudd announces new economic crime centre to combat City fraud December 11, 2017 The Serious Fraud Office (SFO) has dodged Tory plans to close it down, but will be subject to direct orders from the National Crime Agency (NCA). The announcement comes as home secretary Amber Rudd said that financial crime “can ruin people’s lives” and announced a framework to crack down on money laundering. She commented: “Today [...]
Brexit secretary David Davis admits you don’t have to be clever to do his job as he’s forced to clarify Irish border comments December 11, 2017 Brexit secretary David Davis has said his job doesn’t require intelligence or knowledge, while clarifying comments he made yesterday that appeared to undermine the strength of the critical agreement reached on Friday. “What’s the requirement of my job?” he asked LBC’s Nick Ferrari this morning. “I don’t have to be very clever. I don’t have [...]
Champions League last 16 draw: Chelsea v Barcelona, Tottenham v Juventus, Man Utd v Sevilla, Man City v Basel, Liverpool v Porto, Arsenal v Ostersunds December 11, 2017 Chelsea will play Barcelona in the last 16 of the Champions League after they were handed the toughest draw of the five English teams. Tottenham face last year’s runners-up Juventus, Manchester United meet Sevilla, Manchester City will play Basel and Liverpool have been drawn against Porto. In the Europa League, Arsenal are to meet Swedish [...]
Bitcoin futures price (XBT) soars above $18,000 on Cboe market debut December 11, 2017 Bitcoin’s futures market debut went off with a bang late last night with the cryptocurrency surging more than 20 per cent and crashing the exchange’s website. Chicago’s Cboe Global Markets’ website went down twice due to heavy traffic as the price of the January bitcoin contract rose from an opening price of around $15,000 to [...]