Wework confirms it will withdraw IPO filing amid investor apathy September 30, 2019 Wework today confirmed it will withdraw its initial public offering (IPO) filing after it was forced to push back plans for its troubled float. Read more: Wework sells former CEO Adam Neumann’s $60m private jet The coworking firm last week announced that Adam Neumann would step down as chief executive following a frosty reception from [...]
Whitbread share price tumbles on Barclays downgrade September 30, 2019 Whitbread suffered a fall in its share price this morning after Barclays downgraded the UK’s biggest hospitality company. The Premier Inn owner’s share price has tumbled five per cent during trading today after its rating was cut by Barclays, which moved its recommendation from ‘Overweight’ to ‘Equal Weight’. Read more: Markets mixed on US-China trade [...]
Days of soaring London house prices ‘are long gone’, says UBS September 30, 2019 The capital’s real estate market has moved out of bubble-risk territory for the first time in four years amid cooling London house prices, according to a new UBS report. An end to London’s housing boom has pushed the capital down a UBS index that ranks the cities with the biggest real estate bubbles in the [...]
Asics blames hackers for pornography playing in its shop September 30, 2019 Sports shop Asics has blamed hackers after a screen above the entrance to it flagship store in Auckland played pornography for nine hours. The company said “an unknown person gained access to the screens above our Central Auckland store and some objectionable content was displayed on the screens. We would like to apologise to anyone [...]
Dame Inga Beale: I’m not surprised by Lloyd’s of London sexual harassment claims September 30, 2019 The controversial drinking culture at Lloyd’s of London is so entrenched that a former chief executive admits she does not know how to tackle it. Dame Inga Beale, who ran the historic institution for five years, spent much time trying to tackle behavioural problems among its staff. Read more: Nearly 500 Lloyd’s of London workers [...]
Revolut to hire 3,500 staff in global Visa expansion deal September 30, 2019 UK fintech Revolut is set to hire 3,500 new staff after striking a deal with card company Visa to expand into 24 new markets. The company plans to open in eight new countries, with the US, Japan, Canada and Singapore top priorities. Read more: Nik Storonsky on negative press, growing pains and what’s next It [...]
Chancellor Sajid Javid unveils £17bn no-deal Brexit cushion September 30, 2019 Sajid Javid will today unveil a package of spending pledges as the party goes on an election footing at its annual Conservative conference in Manchester. The chancellor will double down on Boris Johnson’s pledge to leave the EU with or without a deal on 31 October, promising a £16.6bn so-called no-deal Brexit guarantee to cushion [...]
Interview: City Football Group marketing chief Nuria Tarre on innovating at Manchester City and the future of the sports industry September 29, 2019 “My ultimate objective – day-to-day, the reason I wake up and enjoy doing the work that I do – is because I truly think we want to be there for the fans in an authentic way,” says Nuria Tarre, chief marketing officer of City Football Group. Since joining CFG in 2015 from her role running [...]
Protests ramp up as Hong Kong prepares for China’s national day September 29, 2019 Protests which have rocked Hong Kong for months intensified today as the city prepares for China’s national day this week. Police opened fire with tear gas canisters, rubber bullets and water cannon as protesters threw petrol bombs at authorities and into a government building. Protesters are demanding universal sufferage, and charges to be dropped against [...]
Ofgem looks at powers to block sales of energy customers September 29, 2019 Energy regulator Ofgem is considering plans which would allow it to block transactions between suppliers, as the industry worries that it is being left to pick up the pieces for failed companies. Rivals have picked the bones for left-over meat of some of more than a dozen energy suppliers that have gone bust in the [...]