Trump gives Saudi purge the thumbs up – days after saying Aramco should list in the US November 7, 2017 Donald Trump might be in Asia, but he’s still watching events in Saudi Arabia as they unfold – and has given the state his backing. Over the weekend, Saudi police arrested 11 princes and dozens of officials and businessmen, under the direction of crown prince Mohammed bin Salman and his father King Salman. Billionaire businessman [...]
PR consolidates role as brand storyteller and defender of reputation (study) November 7, 2017 The UK’s Public Relations and Communications Association (PRCA) recently unveiled its survey of practitioners into the digital skills in the market and clients’ attitudes to digital services. It’s no surprise to learn that digital services are in flux, but what is interesting is where that investment is focused. I’m a member of the PRCA, the [...]
Primark owner Associated British Foods (ABF) share price dips as it reports jump in revenue and profit November 7, 2017 Primark’s parent company has reported a jump in profit and revenue in the 52 weeks to 16 September The figures Associated British Food’s (ABF) group revenue was up 15 per cent to £15.4bn, while adjusted operating profit rose 22 per cent to £1.36bn. Primark sales were up 19 per cent year-on-year, rising from £5.95bn to [...]
Imperial Brands announces push on next generation products after volumes of cigarettes decline November 7, 2017 Tobacco company Imperial Brands increased profitability in the year to 30 September, despite a decline in volumes of tobacco products sold. The figures Total tobacco volume was down 4.1 per cent, though the group’s ‘growth brands’, which include Davidoff and Winston, grew 5.5 per cent. Revenue was up 9.5 per cent to £30.2bn on a [...]
Digital challenger bank Monzo raises £71m as Micheal Moritz, Stripe and Goodwater Capital boost valuation November 7, 2017 Digital challenger bank Monzo has raised millions more investment in its biggest funding round to date, more than doubling its valuation. The startup has landed £71m from several new and existing investors which values it at £280m amid a funding boom for fintech in the UK. Renowned Silicon Valley investor Michael Moritz has backed Monzo [...]
DEBATE: Can we close the loopholes that make the Paradise Papers kind of tax behaviour legal? November 7, 2017 Can we close the loopholes that make the Paradise Papers kind of tax behaviour legal? Alex Cobham, chief executive of the Tax Justice Network, says YES. Why do we tolerate financial secrecy? Companies and individuals obviously want know who they are doing business with. Markets work less efficiently when we allow anonymous ownership. Corruption is [...]
Sink, swim, or build a lifeboat: Tips for surviving Open Banking November 7, 2017 Open Banking, which comes into place January 2018, is a landmark development for the banking industry. It will force banks to open up their Advanced Programming Interface (API). This may sound like a dry compliance point, but the reality is far from it. With customer permission, competitors will be able to access banks’ enormous – [...]
We must lay the ethical groundwork for artificial intelligence now, before it’s too late November 7, 2017 Artificial intelligence (AI) is having an identity crisis. More specifically, the concept of AI is often wrongly portrayed as a thing, a noun, a sentiment being – which it is not. The danger of overhyping and objectifying AI is that we misunderstand the valuable opportunity that presents itself, fail to fully educate the global population, [...]
British prodigy Lando Norris, 17, handed Formula One chance by McLaren November 6, 2017 British teenager Lando Norris has been backed to prove his status as “one of the very best up and coming single-seater drivers in the world” after being named as McLaren’s test and reserve driver for 2018. Norris, who turns 18 on Monday, replaces fellow countryman and former world champion Jenson Button in the role and [...]
Brent oil price hits two-year high after Saudi corruption purge November 6, 2017 The price of Brent crude surged to its highest point since mid-2015 today after the Saudi Arabian crown prince purged the ranks of the country’s elite. The price of North Sea benchmark Brent crude oil futures rose by well over three per cent to hit $64.44 per barrel. Meanwhile West Texas Intermediate (WTI) hit highs [...]