Capco investment boss to quit as Earl’s Court de-merger speculation mounts June 19, 2019 The investment chief at Capital & Counties (Capco) revealed plans to step down this morning, sparking fresh speculation over the future of the property giant’s struggling Earl’s Court development. Managing director and chief investment officer Gary Yardley is leaving the company at the end of this month, as the firm prepares for a potential split [...]
Nissan and Renault workers left with ‘nothing to do’ after Ghosn arrest June 19, 2019 Employees at Nissan and Renault’s joint ventures are without work as the alliance struggles after Carlos Ghosn’s arrest. The disgraced former chief executive and chairman left after Japanese prosecutors charged him with under-reporting his salary. Read more: Nissan forecasts worst earnings in 11 years amid Carlos Ghosn saga Departments overseeing some of the carmakers’ joint [...]
Lloyds Bank boss defends pay and pension perks as MPs accuse him of greed June 19, 2019 Lloyds Bank boss Antonio Horta-Osorio has defended his pay packet and pension perks in a grilling by MPs. Horta-Osorio, who as Britain’s best-paid boss took home £6.3m last year, insisted his pay packet was in line with the market rate for major bank chief executives. Remuneration committee chairman Stuart Sinclair told MPs the bank’s boss [...]
Acacia takes aim at biggest shareholder Barrick June 19, 2019 Acacia Mining hit out at its main shareholder Barrick Gold this morning, as a takeover offer from Barrick looms. The London and Tanzania-based miner said it “strongly disagrees” with a “number” of statements made by Barrick last night. Read more: Acacia shareholder Odey will vote against Barrick bid if it stays unchanged The firm was [...]
Hong Kong’s richest man Li Ka-shing to pay tuition fees for class of Chinese students June 19, 2019 Hong Kong’s richest man Li Ka-shing has promised to pay tuition fees for a class of Chinese university students. His charitable foundation will fund Shantou University’s 2019 incoming class for up to five years. Li’s pledge will cost 100m Chinese yuan (£11.5m) a year. The 90-year old is worth $30.04bn (£23.8bn) according to Forbes. The [...]
London property market drags down UK house prices June 19, 2019 UK house prices were dragged down by subdued demand in London last month, as buyer caution continued to linger in the capital during April. London witnessed the lowest annual growth out of any region, with prices falling by 1.2 per cent over the year to April 2019, up from a fall of 2.5 per cent [...]
Blackstone boss donates £150m to Oxford University for AI research June 19, 2019 Blackstone chief executive Stephen Schwarzman has donated £150m to the University of Oxford for the creation of a department to study the ethics of artificial intelligence. The gift is the largest single donation to the university since the Renaissance. Read more: Small businesses to be given artificial intelligence boost The Stephan A. Schwarzman Centre for [...]
Tory leadership hopefuls face new vote after TV clash June 19, 2019 The five remaining candidates in the Tory leadership race face another round of voting today, as MPs react to their performances in last night’s TV debate. Yesterday former Brexit secretary Dominic Raab was knocked out of the contest after he failed to secure the necessary 33 votes from MPs. The candidates now face a third [...]
Oil prices rise as Trump says he is set to meet with the Chinese President Xi June 18, 2019 Oil prices rose by nearly two per cent this afternoon as markets were buoyed by hopes of an ease in US-China tensions. Markets turned upwards after US President Donald Trump said he was expecting to hold an “extended” meeting with his Chinese counterpart Xi Jingping later this month at a meeting of the Group of [...]
Eoin Morgan makes a mockery of a bad back to smash astonishing century in World Cup win over Afghanistan June 18, 2019 Eoin Morgan was supposed to have a bad back. When England’s captain followed Jason Roy off the pitch, walking gingerly alongside the physio during Friday’s match against West Indies in Southampton, it looked like the favourites could be about to receive a hammer blow to their Cricket World Cup chances. When the news was relayed [...]