Who leaked the Panama papers? April 4, 2016 How do you leak 2.6 terabytes of data? That's 11.5m records, 4.8m emails and 2.1m PDFs – 40 years worth of data, about 214,000 offshore entities and numerous famous names and faces and how they secretly arranged their taxes. The Panama papers leak is the biggest in history – but how did it ever get leaked and who was [...]
Bands and singers pull out of an anti-EU music festival because they’re actually pro-EU April 4, 2016 NULL
Twitter’s share price jumps on Mastercard interest April 4, 2016 Shares in social media firm Twitter jumped by over nine per cent today on news that payments firm Mastercard would be interested in a tie-up with the company. "We see companies like Facebook and Twitter occupying a really good space in social media and we are always over in Silicon Valley talking to those companies," said Ann Cairns, president [...]
Bankers prepare for job losses as optimism falls to lows not seen since the Eurozone sovereign debt crisis April 4, 2016 British bankers are bracing themselves for the largest round of job cuts since the height of the Eurozone sovereign debt crisis as banks struggle to find their way back to profitability and optimism over future earnings shrinks. Bankers fear the axe is set to fall mostly on bloated back office operations, IT departments and in [...]
UK financial services executives back London to become world’s fintech hub April 4, 2016 UK-based financial services executives are backing London to become the world's fintech hub. Some 92 per cent of those surveyed by Robert Half Financial Services said the UK has the ability to become the field’s worldwide leader. Read more: These are the most influential people in UK fintech Six per cent of the 100 executives surveyed [...]
Panama papers: Reaction to the massive data leak from law firm Mossack Fonseca detailing how global elite protect their riches April 4, 2016 News that a number of world leaders, as well as other global public figures, have been linked to tax evasion and money laundering has been met with calls for a crackdown on secretive international financial systems. A leak of 11m documents from Panamian law firm Mossack Fonseca has revealed that the company has helped clients launder money, [...]
William Hill teams up with SkyBet to help fund £270m NYX acquisition of OpenBet April 4, 2016 Bookmaker William Hill has teamed up with rival SkyBet to invest in Canadian gaming supplier NYX, which has announced the acquisition of OpenBet for £270m. As part of the agreement, William Hill is investing £80m in the takeover and a further £10m in equity. SkyBet is contributing £20m. Read more: Jefferies downgrade continues William Hill's losing streak [...]
This brokerage has made Casino Royale Bond villain Le Chiffre its brand ambassador April 4, 2016 FX trader XTB knows its audience. The international brokerage has launched a new ad campaign, and who better to strike the right tone for a financial services firm than a criminal mastermind? XTB has announced it has recruited award-winning Hollywood actor Mads Mikkelsen as its new brand ambassador. Mikkelsen is no stranger to dirty dealing: he's probably best [...]
Panama papers scandal: Everything you’ve ever wanted to know about bearer shares (but were too afraid to ask) April 4, 2016 The International Consortium of Investigative Journalists (ICIJ) includes a reference in its Panama Papers report to bearer shares, describing them as one way to protect the anonymity of companies' owners, making it harder to ascertain the exact ownership of the companies. But what are bearer shares? And does the decline in the number shown in the ICIJ numbers [...]
Tilney Bestinvest to acquire fellow wealth management firm Towry from majority shareholder Palamon Capital for £600m April 4, 2016 Tilney Bestinvest has agreed a deal to acquire fellow UK wealth management firm Towry. The deal, subject to regulatory approval, would see Tilney Bestinvest acquire Towry from its majority shareholder Palamon Capital Partners for £600m. The combined company would have responsibility for more than £20bn of assets for affluent and high net worth clients. Read more: Wealth management M&A has hit [...]