Director at Rolls-Royce largest shareholder leaves role on engineer’s board December 10, 2019 Rolls-Royce shares fell four per cent this morning after it announced an executive from its largest shareholder, activist investor Value Act Capital, has resigned from from the engineer’s board. Bradley Singer, a non-executive director for the last nearly four years, stepped down this morning. He is chief operating officer of Value Act. When he joined [...]
Amazon sues Pentagon over claims Trump to blame for failure to win $10bn defence contract December 9, 2019 Amazon has opened legal proceedings against the Pentagon, alleging that the online giant was denied a $10bn (£7.6bn) US defence contract due to US President Donald Trump’s personal vendetta against chief executive Jeff Bezos. In a court filing made public today, Amazon claimed that its failure to secure the contract was result of improper pressure [...]
North Korea brands Trump an ‘erratic old man’ December 9, 2019 A senior North Korean official has called US president Donald Trump a “heedless and erratic old man” as the rekindled war of words between the two countries heats up. In a statement carried on state media, ruling party vice chairman Kim Yong Chol described Trump as impatient and rebuked him over his rhetoric. Read more: [...]
Number of UK strikes up 45 per cent in last year December 9, 2019 The number of strikes in the UK rose 45 per cent last year, due in part to a growing number of protests over zero-hour contracts. According to data from law firm EMW, there were 96 cases of direct action across the public and private sectors in 2018/19, up from 66 in 2017/18. Read more: Rail [...]
New Octopus Renewables trust smashes target in £350m float December 6, 2019 Octopus Renewables’ new infrastructure trust smashed investor expectations this morning, successfully raising £100m more than its original target of £250m. The £350m launch makes the launch the second biggest initial public offering for an investment company this year. Read more: Octopus launches new renewables trust The net proceeds of the opening issue after costs will [...]
London fire commissioner Dany Cotton to leave four months early December 6, 2019 London’s fire commissioner Dany Cotton is to step down from her role sooner than planned, the London Fire Brigade announced today. Cotton will leave at the end of December as opposed to her original departure date of the end of April. It comes after criticism of Cotton from the families of victims who died in [...]
UK house prices bounce back with 2.1 per cent rise December 6, 2019 UK house prices were 2.1 per cent higher last month then they were a year ago at an average price of £234,625, according to the Halifax House Price Index. Prices also grow on a monthly basis, rising 1.0 per cent from October. Read more: UK house prices: Growth picks up in November It means an [...]
Debate: After the M&G property fund suspension, should illiquid assets be banned from funds? December 6, 2019 After the M&G property fund suspension, should illiquid assets be banned from funds? Yes says Ryan Hughes, head of active portfolios at AJ Bell. In simple terms, offering daily dealing in a fund when the underlying assets can’t be sold in the same timeframe is asking for trouble. Most of the time, it might not [...]
Brexit Party now odds-on for total defeat at General Election December 5, 2019 Bookmakers have said that the Brexit Party is odds-on to suffer total annihilation when the country goes to the polls next week, after Nigel Farage’s party was hit by a string of resignations. Betfair said odds of total defeat – not winning a single seat – had been set at 2/7. Read more: General election: [...]
CBI launches search for Carolyn Fairbairn’s successor December 4, 2019 The CBI has reportedly begun a search for its next boss, as its current director’s term draws to a close. The business lobbying giant has drafted in Russell Reynolds Associates to identify potential executives who could fill the role, according to Sky News. The broadcaster said that CBI staff were briefed that the search was [...]