Muddy Waters: Shortsellers are targeting Neil Woodford investments after Burford Capital August 8, 2019 The head of Muddy Waters has warned that shortsellers are attacking Neil Woodford investments a day after he shorted Burford Capital, burning almost £1.8bn off the value of the company. “Shortsellers do definitely look for where Neil Woodford is invested, especially when he’s invested outside of large cap value,” said Carson Block. Read more: Burford [...]
Uncertainty hits UK jobs market as hiring wanes August 8, 2019 Hiring remained subdued last month, as ongoing political and economy uncertainty continued to cast a cloud over the UK’s job market. Permanent staff appointments tumbled for the fifth consecutive month in July. Read more: US employment reaches new high The rate of growth in starting salaries awarded to newly placed permanent staff also slumped to [...]
‘Enough is enough’ says police chief, after Leyton machete attack August 8, 2019 A police officer is in critical condition after being stabbed with a machete multiple times during a “frenzied, unprovoked and shocking attack” in east London late last night. The injured officer managed to defend himself with a Taser, but not before being stabbed in the head and body “a number of times”, police said. He [...]
City Moves for 8 August – Who’s switching jobs at 11:FS, AlbionVC and Databricks? August 8, 2019 Today’s City Moves includes 11:FS, AlbionVC and Databricks. 11:FS 11:FS, the challenger firm defining and building digitally native financial services through technology, product and design expertise, has announced that Shaun Meadows has joined the firm as chairman. In the newly created role, Shaun will work with the 11:FS board to review company objectives, examine performance [...]
City grandee Bob Wigley sued over collapse of Yellow Pages-owner Hibu August 7, 2019 City grandee Bob Wigley has been named in a multi-million dollar lawsuit relating to his time as chairman of Yellow Pages-owner Hibu and the company’s collapse in 2013. The lawsuit, which was filed last week in the US, accuses Wigley and other directors and officers of the former FTSE 100 firm of deliberately crashing the [...]
British Airways’ IT glitch rounds off a terrible week for the airline August 7, 2019 British Airways has tonight fixed the IT glitch that led to hundreds of cancelled flights earlier today, but industry experts say the damage to its reputation has already been done. About 117 flights were cancelled at Heathrow and 10 at Gatwick, with hundreds more delayed, leading to frustrated and stranded passengers. Read more: British Airways [...]
Rail firms could seek costs after government scraps franchise bidding August 7, 2019 Two train firms could seek to recover costs from the government after it scrapped the bidding process for one of the UK’s largest rail franchises. The Department for Transport (DfT) insists there is no recourse for the rail firms as they enter into the bidding process at their own risk. Read more: Scrapped: Government cancels [...]
Commuters braced for another rail fare hike August 7, 2019 Commuters are braced for a three per cent rail fare hike next week, despite a slump in the punctuality of trains. The rail industry is expected to announce next Wednesday that rail fares will increase by about three per cent, pegged to the Retail Price Index (RPI). Read more: MPs call on government to scrap [...]
Ineos on the hunt for new auditor after dropping PwC in wake of tax fallout August 7, 2019 UK energy giant Ineos is reportedly dropping PricewaterhouseCoopers (PwC) as its auditor amid speculation of a major tax row between the two sides. Ineos, which is owned by British billionaire Jim Ratcliffe, is on the hunt for a new accountancy group to replace the big four beancounter, according to Sky News. Read more: Ineos plans [...]
Standard Life Aberdeen profits down despite asset increase August 7, 2019 Standard Life Aberdeen has seen a modest increase in assets under management and a slow in outflows but this has failed to stop its profits from dropping in the first half. The figures The asset manager reported adjusted pre-tax profits of £280m for the first half of the year, down from £311m for the same [...]