Kanye West sues Lloyd’s of London insurers including Lancashire for $10m over cancelled tour August 2, 2017 We ain’t saying he’s a gold digger, but US rapper Kanye West has just filed a $10m (£7.6m) lawsuit against Lloyd’s of London insurers in a dispute over 21 cancelled tour dates last year. The pop star and his tour company, Very Good Touring, claim insurers may not pay out because the cancellations were as [...]
Move over Crossrail: Watch Hyperloop One hit record 200mph in latest test of Elon Musk’s crazy transport system of the future August 2, 2017 Hyperloop, the crazy transportation of the future that wants to whizz you hundreds of miles within minutes, has just shown exactly how fast it can go. The pod and tunnel system has gone faster than ever before, hitting 192mph in fresh tests over in Nevada in the US by Hyperloop One – that’s nearly three [...]
Mondelez chief executive Irene Rosenfeld, the woman blamed for shutting down Cadbury factories in the UK, has stepped down August 2, 2017 Irene Rosenfeld, the former Kraft boss who became a figure of hate after its takeover of Cadbury’s in 2010, has stepped down from her position as chief executive of Mondelez. In a filing with the US Securities and Exchange Commission today, the company said Rosenfeld will be replaced by Dirk Van de Put, currently the [...]
Revealed: The most-traded investments in July reflect a commodities recovery August 2, 2017 Investment and trading platform Interactive Investor has revealed its top most-traded for the month of July. The rankings reflected a recovery in commodities price, the ever-present poplarity of tech stocks, and strong demand for Lloyds. Top by a mile Most traded large cap shares Lloyds AstraZeneca Glaxosmithkline BP BT Despite missing analyst expectations in its [...]
Funerals provider Dignity sees profits and revenue increase for first half but warns on “aggressive” competition August 2, 2017 Pre-tax profits rose in the six months to 30 June at funeral provider Dignity, as the number of deaths rose. The figures Revenue was up seven per cent to £169.8m in the first half. In the same period, the total number of deaths in the UK rose two per cent to 308,000. The group said [...]
Brics are the new battleground for the global inequality fight August 2, 2017 With all eyes on the revolving cast of characters heading in and out of the White House, and on the latest developments in the ongoing Brexit saga, it’s important to remember that the rest of the world continues to get on with life. This week, for example, trade ministers of the Brics (Brazil, Russia, India, [...]
Bitcoin cash: Bitcoin splits in two as a hard fork creates a second cryptocurrency called bitcoin cash August 1, 2017 Bitcoin traded lower today after the cryptocurrency started to split in two following a long-running rift in its community of developers and miners. The digital currency was trading 2.76 per cent lower at $2,726.09 at the time of publishing after falling more than five per cent earlier in the day, according to CoinMarketCap. Meanwhile, futures [...]
Shadow chancellor John McDonnell confirms Bank of England would stay independent under Labour government as he calls for higher pay from governor Mark Carney August 1, 2017 Shadow chancellor John McDonnell has reiterated his stance that a Labour government would not strip the Bank of England of its independence as he called for governor Mark Carney to increase his pay offer to striking workers. Speaking to City A.M. at a picket line by striking workers outside the Bank, McDonnell said: “The Bank [...]
Direct Line share price jumps after making its first ever growth promises August 1, 2017 Britain’s largest motor insurer Direct Line is for the first time backing itself for the longer-term after today beating expectations on half-year earnings. Shares in the FTSE 100 firm jumped over five per cent as shareholders were rewarded with a 39 per cent dividend increase. Meanwhile, the insurer made a commitment to hike shareholder payouts [...]
Halal service HalalEat looks to gobble up a slice of the food delivery boom August 1, 2017 HalalEat, the London-based food delivery startup, has today launched a crowdfunding campaign to fund its plan to expand nationwide. The company, founded in 2015, currently delivers food in East London and has limited coverage in Birmingham, Luton, Kingston and Portsmouth. HalalEat’s equity raising campaign on Seedrs reached 40 per cent of its £100,000 goal in [...]