The Tide is London’s answer to the Manhattan High Line July 5, 2019 Taking place alongside this weekend’s Pride celebrations is Turning Tides, a brand new art, music and film festival on Greenwich Peninsula. LGBTQ collective Sink the Pink kick things off tonight, performing to crowds outside the O2 Arena amid inflated water droplets by LA-based artist Geronimo. Turning Tides Festival celebrates the opening of the first kilometre [...]
Shareholders vote to back Coupe in Sainsbury’s showdown July 4, 2019 Under-fire Sainsbury’s boss Mike Coupe was lambasted by shareholders at a tense investor showdown earlier today, as the supermarket chain faced a set of tough questions following a torrid 12 months. Disgruntled shareholders slammed Coupe and the board at the firm’s annual general meeting (AGM) over its falling share price, which has plunged by almost [...]
Is this market losing its marbles? July 4, 2019 | City Talk The chart that caught the eye of the Schroders Multi-Asset Investment team this month shows that the relationship between the ISM Manufacturing Purchasing Managers’ Index (PMI) and the S&P 500 index has broken down. The PMI is based on a survey of purchasing managers from more than 300 manufacturing firms. It is a widely followed [...]
Syria-bound oil tanker seized by British troops July 4, 2019 Royal Marines this morning boarded a tanker thought to be carrying Iranian oil to Syria through the Strait of Gibraltar. The boarding, which is believed to be the first under EU sanctions on Syria, happened in the early morning. Read more: Rouhani says Iran will ramp up uranium enrichment from Sunday “We have detained the [...]
Deloitte fined £6.5m for role in Serco tagging scandal July 4, 2019 Big-Four auditor Deloitte was today fined £6.5m and “severely reprimanded” for its role in Serco’s electronic tag scandal. The Financial Reporting Council fine was reduced to £4.2m after the auditor admitted misconduct in connection to the scandal Serco yesterday agreed a deferred prosecution agreement with the Serious Fraud Office over three offences of fraud and [...]
Fintech champions face an uphill climb if they want to expand into America July 4, 2019 When did you last pay with a cheque? I’d be willing to bet that many of you don’t even know where your cheque book is, and if you do, that it’s probably gathering dust. If you’re living and working in a UK city, you’re totally accustomed to new ways of banking – from Apple Pay [...]
London Pride 2019: Where is the parade and when does it start? July 3, 2019 There is less than a week to go until London Pride 2019, when the capital is set to host a parade that is bigger and brighter than any that have gone before it. Last year around 1m people attended the event as people from London and beyond participated in the capital’s biggest LGBT+ celebration. But [...]
Deutsche Bank restructuring to cost ‘up to €5.6bn’ July 3, 2019 The cost of a radical shake-up at Deutsche Bank could reportedly total €5.6bn (£5bn), as the German lender presses ahead with a sweeping turnaround plan that is likely to hit its investment banking division. A vast overhaul of the business is likely to cost several billion euros, sources told Reuters and the FT, as it [...]
Unite Group buys Liberty Living in £1.4bn student housing move July 3, 2019 Student housing giant Unite has agreed to snap up rival provider Liberty Living in a £1.4bn deal. Read more: Singapore buyer swoops up £180m student property portfolio The two companies confirmed today the cash-and-shares deal, which will create a firm which will control more than 70,000 beds across the UK. Liberty’s sole shareholder, the Canada [...]
Watchdog threatens retail ban on crypto trades July 3, 2019 The Financial Conduct Authority this morning proposed a ban on selling derivatives based on bitcoin to retail customers. The watchdog said that crypto assets, including bitcoin, have extremely volatile prices. Read more: UK regulator warns tech companies over cryptocurrency projects It thinks such products are “ill suited to retail consumers who cannot reliably assess the [...]