Euro clearing: London Stock Exchange CEO Xavier Rolet says new rules will cost investors €20bn October 17, 2017 New supervision rules on euro clearing proposed by the European Central Bank (ECB) will cost investors €20bn (£17.8bn), the chief executive of the London Stock Exchange has said. Xavier Rolet told a conference organised by the EU securities watchdog this morning that new clearing rules will cause the market to fragment. Reuters reported that he [...]
Revolution Bars rejects Slug and Lettuce owner Stonegate’s takeover bid October 17, 2017 Shareholders in Revolution Bars have voted against a takeover bid from Slug and Lettuce owner Stonegate Pub Company. Shares in Revolution dropped over 11 per cent to 166p following the decision to reject the 203p per share offer. Over half of the votes cast opposed the bid, with 53.8 per cent against and 46.3 per [...]
Uber’s top policy chief in Europe Christopher Burghardt has quit amid London licence row October 17, 2017 One of Uber’s top policy chiefs in Europe has quit amid turmoil for the tech company over its London licence. Christopher Burghardt, Uber’s head of policy and communications for Europe. Middle East and Africa since the end of last year, is departing just weeks after another top executive. Jo Bertram, the woman who established Uber [...]
Monzo’s introducing new ATM fees: Here’s how much you’ll pay using your card abroad | City A.M. October 17, 2017 Monzo has revealed how much customers will now have to pay to withdraw cash when abroad. The digital challenger bank earlier this year said it would have to bring free withdrawals to an end because it was costing it too much. After speaking to its users, the new fee will be set at three per [...]
Pearson share price (PSON) rises as profit is seen coming in at the top end of forecasts October 17, 2017 Shares in troubled publisher Pearson rose six per cent today after the company released some long-awaited good news. The education firm now expects its full-year operating profit to be in the upper half of its forecast range. Pearson said it aims to make adjusted operating profit of between £576m and £606m from previous guidance of [...]
Snap Inc and NBC are going to make scripted shows together for Snapchat in original content push October 17, 2017 Snap is getting further into creating its own content and is just the latest tech company to do so, partnering with US media giant NBCUniversal. They will work together to produce scripted shows for the messaging app Snapchat, the two announced early this morning. Snap has already dipped its toes in the waters of TV-style [...]
Time to treat Google and Facebook as the media giants they really are October 17, 2017 The boss of WPP, Sir Martin Sorrell, has views on a wide range of topics, from the global economy, to Brexit, to the advertising world. One of his views is that Facebook and Google are media companies, and should be seen as such. And in this, he is absolutely right. Read more: Dow Jones newswire [...]
The progressives are cheating in the argument against Donald Trump’s tax cuts October 17, 2017 Has anyone noticed how “tax cuts for the rich” has become a moniker for all and every income tax cut? When the Conservatives dropped the top rate of income tax from 50p to 45p, that was predictably lambasted as a tax cut for the rich. George Osborne’s promise to raise the starting threshold for the [...]
Legal & General agrees purrfect Buddies deal to capitalise on pet emotions October 16, 2017 Insurance giant Legal & General is set to capitalise on Britain’s love for pets after agreeing on a deal to buy family-owned pet insurer Buddies. L&G will tomorrow announce a deal to bolt Buddies – founded by married couple Marianne Metaxas and Avi Levine in 2000 – to its existing pet insurance offering. The insurer [...]
Netflix share price rises after subscriber expectation beat October 16, 2017 Netflix today revealed it had wooed more new subscribers than expected over the last three months. In an announcement after the bell, the US video-streaming giant added 4.45m new customers in the third quarter, ahead of analyst expectations of 3.69m. Shares in the Nasdaq-listed firm rose over 1.5 per cent in after-hours trading. Netflix said [...]