After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Centrica buys Danish group Neas for £170m April 21, 2016 British Gas parent company Centrica has struck a deal to buy Danish group Neas Energy for DKK1.6bn (£170m) . The deal will give Centrica the opportunity to "expand its route to market services in Europe, and to continue to utilise and build its knowledge of European energy markets in order to benefit from trading and optimisation activity", the energy giant said [...]
Anglo American’s share price climbs as boss Mark Cutifani claims turnaround is making “solid progress” – but will it be enough to stop a shareholder revolt? April 21, 2016 Anglo American boss Mark Cutifani has sought to assure shareholders that the firm is making progress with its turnaround plan – but will it be enough to convince shareholders that he deserves his multi-million pound pay packet? The troubled miner this morning revealed a 10 per cent drop in diamond production to 6.9m carats for the three months to [...]
City Moves for 21 April 2016 | Who’s switching jobs April 21, 2016 Lincoln International Lincoln International, the global mid-market investment bank, has announced that Tomas Freyman has joined the firm’s London office as a managing director specialising in valuations. Tomas will be part of the firm’s global valuations and opinions group and will work closely with Ron Kahn, who co-heads that group and is based in Chicago. [...]
Banking exports will pass £100bn in next decade, but government’s £1 trillion target still some way off April 21, 2016 The government will spectacularly miss its target to increase the value of UK exports to £1 trillion by the end of the decade, a new report has said, as the City of London looks set to continue punching above its weight on the global stage. In a report launched today, Barclays said that the value [...]
Nearly 60,000 companies hit by National Living Wage already in “significant financial distress”, insolvency firm warns April 20, 2016 The National Living Wage (NLW) risks tipping thousands of vulnerable companies over the edge as they struggle to absorb higher staff costs, one of the UK’s leading insolvency firms has warned. More than 1.8m workers were given a pay rise on 1 April after a new minimum wage came into force, requiring employers to pay at least £7.20 per [...]
Who went to Britain Stronger In Europe’s exclusive (and secretive) Knightsbridge fundraiser? April 20, 2016 Financial big guns flocked to a lavish dinner tonight to raise funds for the coiffers of campaigners who are fighting to keep Britain in the European Union. Lord Peter Mandelson, alongside Britain Stronger In Europe chairman and former Marks & Spencer exec Stuart Rose were among a number of notable attendees to join the event at an exclusive Knightsbridge hotel, City A.M. [...]
No way in for the Inns: Barristers rise up against Cycle Superhighway street closure, saying it would put revenues from Hollywood film companies at risk April 20, 2016 Another day another planning battle – this time between the City of London Corporation and the Inns of Court. The Inns' top barristers and residents are on a war path after the one of the Corporation's sub-committee voted to shut down one of the main roads leading into their buildings to traffic – a move they claim will "create a [...]
AstraZeneca and HSBC chief executives next in line to face shareholder votes as report condemns boardroom pay practices as “broken” and “not fit for purpose” April 20, 2016 Boardroom pay practice is to be blasted as “not fit for purpose” tomorrow in an Investment Association report. It is published as AstraZeneca is the latest firm facing the prospect of a shareholder revolt over chief executive Pascal Soriot's £8.4m pay package. City A.M. has learned Royal London Asset Management (RLAM), which owns more than £500m, [...]
The best new Android handsets 2016, from LG, Huawei and HTC April 20, 2016 Here's the lowdown on which Android phone to pick up right now this very second… Go. HTC 10 The HTC 10 isn’t the thinnest or lightest Android on the market. But it’s a loveable little chunkster with reassuringly expensive heft and a rounded and outrageously chamfered backside that fits nicely in the palm. It’s an [...]
Cabinet Office is making threats to silence pro-Brexit businesses ahead of June referendum, claims Vote Leave campaign director Dominic Cummings April 20, 2016 UK businesses are being prevented from coming out in support of a British exit from the European Union due to threats from Downing Street and the Cabinet Office, it was claimed today by Vote Leave’s campaign director Dominic Cummings. The allegations were made by Cummings during a three-hour grilling by the influential Treasury select committee, chaired by MP Andrew Tyrie. [...]