Legal and General has reached a £140m deal to sell its investment platform Cofunds to Aegon August 11, 2016 Legal and General has reached a £140m deal to sell its investment platform, Cofunds, to Aegon. Subject to regulatory approval, the deal will mean Aegon becomes the UK's largest platform provider, with more than three million customers. L&G only bought the business in early 2013, snapping up a 75 per cent stake for £131m, but confirmed this [...]
City Moves for 11 August 2016 | Who’s switching jobs August 11, 2016 The Crown Estate UK real estate business, The Crown Estate, has appointed Robin Budenberg as chairman. Robin is a prominent figure from the UK finance sector and his appointment follows the retirement of Sir Stuart Hampson. He is currently London chairman of Centerview Partners and a non-executive director for Charity Bank and the Big Society Trust. Robin is the [...]
Cut Lloyds boss Antonio Horta-Osorio some slack: His “tryst” doesn’t make him worse at his job August 11, 2016 Not since Fred the Shred was at his most dastardly has a banking boss made the gossip pages of the tabloids. But this week Lloyds boss Antonio Horta-Osorio strolled into the headlines hand in-hand with Russell Group director general Dr Wendy Platt, after The Sun revealed an alleged tryst between the pair The paper’s report [...]
Cashing in: RMT boss Mick Cash’s “telephone-number” salary sparks outrage as Britain’s commuters face three-pronged strike attack August 11, 2016 The union boss at the centre of a three-pronged attack on Britain’s commuters and holidaymakers earned £137,344 last year, outraging MPs and grassroots campaigners. RMT general secretary Mick Cash received a near seven per cent increase in salary and pension in 2015, at £8,900, for leading Britain’s 15th largest trade union. By comparison, Len McCluskey, [...]
Government urged to implement new tax credit scheme for UK exporters for economy boost after Brexit vote August 10, 2016 The government is being urged to implement a tax credit scheme for UK exporters to boost British business and the economy after the Brexit vote. In an open letter, David Thomas, the executive chairman of the Council of British Chambers of Commerce in Europe (COBCOE), said: “This will cost the exchequer nothing on balance. “It can [...]
Hundreds of security passes suspended at Heathrow amid police fraud probe August 10, 2016 Hundreds of airside security passes have been suspended at Heathrow. The employees who have had their passes suspended work for Sodexo, which supplies airline lounge services at the transport hub. A spokesperson for the company said: “We can confirm that, as a precautionary measure, the airside passes of approximately 300 employees were suspended but as this [...]
Woof: US pet food firm Blue Buffalo shares up on tasty results August 10, 2016 Pet food company Blue Buffalo’s shares were up in after-hours trading after it reported a sales and earnings growth in the second quarter. Earnings before interest, taxation, depreciation and amortisation (Ebitda) came in at $68m, up 40.7 per cent. Read more: Pet insurance claims have gone barking mad Earnings per share (EPS), meanwhile, were up [...]
Fast food Shack’s growth can’t shake off investor concerns August 10, 2016 Shake Shack’s shares plummeted in after-hours trading on Wednesday despite the fast food company reporting expectation-beating results. The US company’s share price fell to just over $37 on Wednesday evening – down from more than $70 a year ago amid investor concerns over growth and valuation. Read more: Flipping good: Shake Shack shares up after [...]
Hillary Clinton makes jobs pledge and attacks Trump “temperament” August 10, 2016 Democrat Hillary Clinton today unveiled plans she said will help create an economy that works for everyone and not just those at the top, days after rival Donald Trump promised huge tax cuts. Speaking at a campaign rally in Des Moines, Iowa, Clinton said she would seek to pass the largest investment in job creation [...]
Can we get a witness? Ed Sheeran facing copyright suit over Marvin Gaye classic August 10, 2016 Ed Sheeran has been hit with a copyright suit in the US over claims his smash hit Thinking Out Loud rips off the Marvin Gaye classic Let's Get It On. The suit has been brought by descendants of the late Ed Townsend, who wrote the 1973 hit with Gaye and held the copyright. The lawsuit, filed yesterday US federal court [...]