Following the decision by a group of investors to quit the tobacco industry, should others follow suit? June 2, 2017 Q: Following the decision by a group of investors to quit the tobacco industry, should others follow suit? YES – Adam Tindall, chief executive of AMP Capital. Investors are increasingly – and quite rightly – being asked to justify their actions. Clients question whether investors should support an activity that, while commercially convenient and legal, [...]
Britons believe driverless future is on the way to our cities June 2, 2017 Britain’s transport authorities may be struggling with regulation of online taxi firms like Uber, but Britons themselves are ready to go a step further and embrace a driverless future, a new survey shows. Two-thirds of Britons believe that dedicated lanes on roads for driverless technology will be introduced as widespread self-driving cars become a reality, [...]
Exclusive interview: Theresa May says she’ll defend the City as she warns EU that nowhere else can do what it does June 1, 2017 Theresa May’s brand of conservatism doesn’t include a natural affection for global financial institutions. In almost every sense, she’s more Maidenhead than Moorgate. And yet surprisingly, she has a stronger connection to the City than any Prime Minister since John Major, having spent 20 years in and around the Square Mile first with the Bank [...]
Morgan Stanley bond trader banned by US regulators as Venezuela bond controversy heats up June 1, 2017 US regulators have banned a Morgan Stanley banker from markets after he hid millions of dollars of Venezuelan bond trades from his firm, as controversy mounts around the embattled regime’s efforts to raise finance. The Financial Industry Regulatory Authority (Finra) today banned former Morgan Stanley Smith Barney trader John Batista Bocchino for concealing approximately $190m [...]
It’s hip to be Square’s CFO: Meet Jack Dorsey’s right-hand woman, finance chief Sarah Friar June 1, 2017 Sarah Friar is the top Silicon Valley tech executive you’ve probably never heard of, but certainly should know about. “That fabulous CFO” as CNBC host Jim Cramer recently called her, was entrusted by Jack Dorsey to take his payments startup public and now takes on more than the traditional role of a finance chief at [...]
Moncler owner Eurazeo builds on consumer brands success to launch dedicated division investing up to €800m, headed by former Victoria’s Secret COO Jill Granoff June 1, 2017 French private equity giant Eurazeo, which owns fashion brands such as Moncler, Desigual and Farfetch, is to stamp its mark on the consumer brands sector by launching a dedicated division. The investment firm, which is listed in Paris, will transfer €600m to €800m from its own balance sheet for the new Eurazeo Brands initiative. It [...]
Hollywood movie company Film Finances considers London IPO June 1, 2017 A Hollywood film financier is said to be plotting a float on the London Stock Exchange. Los Angeles-headquartered Film Finances Inc could be making its way for a UK initial public offering (IPO) during the summer. Sky News reported that the flotation is being overseen by Liberum Capital and could value the firm at several [...]
Venezuelan bond raid: Nomura picks up $100m of government debt at a fraction of its face value June 1, 2017 Japanese investment bank Nomura bought $100m (£78m) of Venezuelan government bonds this week as part of the same deal that landed Goldman Sachs in political hot water. Nomura paid around $30m for the debt, according to overnight reports in the Wall Street Journal. The discount is similar to that paid by Goldman Sachs. The US [...]
Google’s new £1bn King’s Cross HQ: 11-storey building will boast a swimming pool, gym, games area and a rooftop cafe June 1, 2017 Google has submitted planning permission for its £1bn King’s Cross HQ that will boast jazzy features including swimming pools and sleep pods. Designed by Heatherwick Studio and Bjarke Ingels Group, construction on the 11-storey building will commence in 2018. Spread across more than 1m square feet of space, the campus will house 7,000 employees. This [...]
Ascential sells 11 B2B magazines including Drapers, Nursing Times and Construction News to Metropolis June 1, 2017 Business-to-business media company Ascential has announced the sale of 11 more magazines today. The FTSE 250-listed publisher has sold titles including fashion magazine Drapers, Nursing Times, Local Government Chronicle and Construction News to Metropolis International. Metropolis, which already owns Property Week, Packaging News, Laboratory News and UK Boarding Schools Guide, is paying £23.5m for the [...]