Woodford’s stalwart fund, the Woodford Equity Income Fund, suffers after a nightmare fortnight August 6, 2017 Renowned investor Neil Woodford will be hoping this week holds fewer hidden surprises than the last fortnight, as some of the largest companies in his portfolio have seen their share prices plummet. The business which held the largest position in Woodford’s Equity Income Fund portfolio, drug company AstraZeneca, suffered as its shares plunged towards the [...]
City watchdog, the Financial Conduct Authority (FCA), readies to launch a crackdown on peer-to-peer lending and crowdfuding August 6, 2017 The Financial Conduct Authority (FCA) is readying to launch a review of peer-to-peer (P2P) lending, with the aim of standardising practice between platforms to protect investors. The FCA has been working on understanding issues in the P2P market after it put out a call for input last year, which found that it was difficult for [...]
Brexit: Second referendum”impossible” says ex-EU chief Romano Prodi as government said to eye £36bn “divorce bill” August 6, 2017 A former head of the European Commission has said a second referendum on Britain’s membership of the union is almost impossible. Romano Prodi, the former Prime Minister of Italy who led the commission between 1999 and 2004, said there will have to be “historic compromise” for Britain and the EU to come to an agreement, [...]
Relief for bookies as Hammond blocks review into fixed odds betting terminals to save treasury funds | City A.M. August 5, 2017 Philip Hammond has blocked a review into fixed odds betting terminals (FOBTs) which could have resulted in millions draining out of the treasury’s pocket. FOBTs allow players to bet as much as £100 every two seconds, and account for much of the in-store income of bookmakers. But concerns over gambling addictions and hefty losses had [...]
Wandsworth council seizes more than 100 oBikes for “blocking pavements” August 5, 2017 Bike sharing company oBike faced yet more disagreements with London local authorities today, this time after Wandsworth council seized more than 100 of the fleet of bikes. In a blog post put on the Wandsworth council website last night, the council said it had removed 130 bikes since oBike launched in London in July. It [...]
Landing cards to be scrapped under Home Office plans to modernise border control August 5, 2017 Non-european travellers will no longer have to fill in landing cards when arriving in the UK under new proposals announced by the Home Office today. The paper-based system, which has been in use for nearly half a century, is expected to be scrapped in the autumn. Read more: Ryanair boss warns of “no holidays” in [...]
Forget shirt sales, it’s Neymar’s star brand that will help Paris Saint-Germain pay off world record £200m fee | City A.M. August 5, 2017 Few transfers in history have ever generated as much chatter, news articles or social media posts as Neymar’s world-record £200m move to Paris Saint-Germain. Such an unprecedentedly large fee and the headlines it captures raises questions of whether Paris Saint-Germain have bought Neymar for his brand as much as his ability. The Qatari-owned club has [...]
TfL launches London walking challenge to encourage more people to navigate the capital on foot August 5, 2017 Transport for London (TfL) is challenging Londoners to get off the tube or out of their Uber and tackle the capital on foot. To celebrate 10 years since the “Legible London” street signs, the blue information boards which show maps of the surrounding area, walkers are being asked to have a go at visiting as [...]
Brewdog is creating a new craft beer bar which will block Trump’s US Mexico border wall August 4, 2017 It’s the craft brewer which made its name through ridiculous publicity stunts. Now Brewdog seems to be seeking the ultimate prize: being criticised in a Donald Trump tweet. The rebellious company, which funded its growth with equity crowdfunding rounds it called “Equity for Punks” (and a little help from private equity), has said it will [...]
Trivago revenue and profits rise as brand awareness grows globally | City A.M. August 4, 2017 Hotel comparison website Trivago grew revenues by 67 per cent in the first half. The group said awareness of its brand had helped drive growth across the world after a push on TV advertising featuring the popular “Trivago girl”. The figures Total revenue for the period reached €565.9m (£512m) compared to €338.3m last year. Adjusted [...]