The UK drove a recovery in European private equity activity this year as UK buyout value doubled, according to CMBOR December 13, 2017 European private equity activity saw a rebound this year, thanks to a bull-run in the UK where the value of buyout deals almost doubled. The total amount spent by private equity firms on new buyouts in Europe hit €90.2bn (£79.4bn), up 50 per cent from last year and on a par with pre-Brexit referendum levels, [...]
Facebook says no more than 200 UK viewers saw Russia’s Brexit ads December 13, 2017 Facebook has found just three adverts posted by Russian accounts in its attempt to investigate potential meddling by the country in last year’s Brexit vote. The Electoral Commission had asked the social media giant to look into any interference with the referendum last year. In a letter to the commission, Facebook said the trio of [...]
Newcastle nearing takeover after positive talks between Mike Ashley and Amanda Staveley December 13, 2017 Newcastle are nearing a takeover by financier Amanda Staveley and her investment firm PCP Capital Partners after receiving a £300m offer for the Premier League club. Controversial owner Mike Ashley, keen to sell the club, held talks with Staveley at a London curry house last week that are believed to have reached an amicable conclusion [...]
Taxman “rubbing its hands with glee” over bitcoin December 13, 2017 Interest in bitcoin has continued to boom despite concerns that the bubble could burst at any moment, and regulators are struggling to keep up. Today, news emerged that South Korea was considering taxing capital gains from cryptocurrency trading, prompting questions of how bitcoin could be taxed in the UK. “Any moves to introduce CGT [capital [...]
Sadiq Khan promises to lobby for City access to Single Market in his economic strategy December 13, 2017 Sadiq Khan launched his strategy for growing London’s business today, promising to lobby for Single Market access on behalf of City firms. Khan has pledged to protect office spaces in London, and intends to improve the capital’s digital infrastructure, focusing on areas where there is no internet connection. He has also committed to lobby the [...]
Aldermore appoints experienced banker Pat Butler as chair to lead under new owners Firstrand December 13, 2017 Aldermore has appointed experienced bank director Pat Butler as the chairman to lead the challenger bank’s board under new owner Firstrand. Butler will join as a non-executive director in the new year before becoming chairman when South Africa’s Firstrand completes its acquisition. A former consultant at McKinsey, Butler currently serves on the boards of Bank [...]
Blackrock latest massive investor to back London Stock Exchange chairman ahead of shareholder vote December 13, 2017 Blackrock has become the latest giant investor to back the London Stock Exchange (LSE) chairman ahead of a shareholder vote on his future next week. Shareholders will vote on Tuesday on a resolution brought by activist investor Sir Chris Hohn which would remove chairman Donald Brydon. Hohn accuses Brydon of arbitrarily removing former chief executive [...]
Chapel Down raises £18.5m to plant more vineyards, grow beer business and consolidate December 13, 2017 Chapel Down has raised a further £18.5m to put English wine on the map, literally. The pioneering brand of English wine, which is now served at Downing Street, announced today that it would invest in new vineyards with the money. It will also put more money into its emerging beers business, which Chapel Down boss [...]
Tory rebels urged not to block EU Withdrawal Bill as Theresa May says Grieve amendment would threaten “orderly” Brexit December 13, 2017 Update: Theresa May has told Tory rebels she will not support their calls for Dominic Grieve’s amendment to the EU Withdrawal Bill, claiming it threatens an “orderly” Brexit. During her weekly Q&A session, May was called on by backbencher Anna Soubry to accept an amendment put forward by former attorney general Grieve that would give [...]
Bank of England plans to remove “gendered language” from all banking regulation December 13, 2017 The Bank of England plans to remove “gendered language” from its regulation of managers in the banking and finance sectors. The Bank’s Prudential Regulation Authority (PRA) will change the Senior Managers and Certification Regime (SM&CR), the rules governing who bankers, insurers, and other finance managers behave, according to a consultation document published today. The regulation [...]