ICG shares rocket as it announces a 2017 record private debt fundraise of €5.2bn November 14, 2017 Specialist asset manager Intermediate Capital Group (ICG) saw its shares rocket today as it revealed it has raised €5.2bn (£4.7bn) for its latest private debt fund, the largest of its kind in 2017. The fundraising, which gathered €4.2bn of new commitments for the London-listed firm, took place over just five months. It means that ICG [...]
Bitcoin gets watchdog warning: FCA urges caution by highlighting dangers of cryptocurrency contracts for difference November 14, 2017 The UK’s top financial regulator today warned Britons of the dangers of investing in cryptocurrency contracts for difference (CFDs). The Financial Conduct Authority (FCA) issued a statement calling the investments “extremely high-risk, speculative products”. CFDs allow investors to bet for or against the price of a raft of financial and non-financial products. Using leverage, they [...]
Brent crude prices are below $63 as the IEA says oil market could tip out of balance on rising non-Opec output November 14, 2017 Brent crude oil prices dipped below $63 a barrel today as the International Energy Agency (IEA) revised its oil demand forecast down due to mild early winter temperatures and rising production from some countries. The Paris-based IEA revised demand growth down by 100,000 barrels per day (bpd) for both 2017 and 2018, for an increase [...]
“Apocalypse, tragedy, catastrophe” – Italian media reacts with fury to World Cup qualification failure as Gianluigi Buffon retires November 14, 2017 Legendary Italian keeper Gianluigi Buffon said he was “sorry for all Italian football” as he announced his retirement from the international game in the aftermath of Italy’s failure to reach next summer’s World Cup. Buffon’s pronouncement was a typically grandiose example of a dramatic national reaction to Italy’s failure to overcome a 1-0 aggregate loss [...]
SSE teams up with Thames Water to lay fibre broadband in London’s Victorian sewer network November 14, 2017 A leading broadband provider believes it has hit the ideas jackpot in the battle to boost Britain’s broadband internet: it wants to lay fibre optic cables in London’s vast sewer network. Energy giant SSE, which has an established broadband infrastructure offering, has teamed up with Thames Water. It plans to tuck fibre cabling 10 metres [...]
Bitcoin awareness is on the rise, but nearly a third of people think it will collapse in the next six months November 14, 2017 Although public awareness of bitcoin is now at an all time high, confidence in the cryptocurrency is still low as new research has suggested nearly a third of people think it will collapse in the next six months. Bitcoin’s price, which is famous for its volatility, climbed to record highs of more than $7,000 in [...]
Credit Suisse fined $135m for New York forex investigation November 14, 2017 New York regulators have slapped Swiss bank Credit Suisse with a $135m (£103m) fine after finding it engaged in misconduct in its foreign exchange trading business. Credit Suisse shared information with other banks which may have allowed coordinated trading and “manipulation of exchange rates”, the Department of Financial Services (DFS) in New York said in [...]
Ford, Vauxhall, Honda among car giants to issue stark warning over hard Brexi November 14, 2017 Some of the world’s biggest car-makers have warned that a hard Brexit would put significant pressure on their UK operations, urging the government to agree a standstill transitional period amid fears that time is running out. Ahead of an industry hearing before the Business, Innovation, Enterprise and Skills (Beis) committee this afternoon, MPs have published [...]
Goodbye, Charles Darwin: Here’s when the old £10 note will no longer be legal tender November 14, 2017 After the introduction of the jazzy new plastic tenner, the Bank of England has revealed the date the old, paper version will stop being legal tender. This morning the Bank said one minute before midnight on 1 March is the date on which the old £10 note, featuring Charles Darwin, will have its legal tender [...]
Definitely no regrets: Karmarama’s Jon Wilkins talks the highs and lows of a year under Accenture November 14, 2017 When Accenture acquired Karmarama nearly a year ago, it was big news: management consultancy tanks were parked on AdLand’s lawn. A year on, and advertising has had it rough. From WPP to Publicis groupe, the big ad networks have battled disappointing revenues, the finger of blame pointed in all directions – from Brexit to Google. [...]