Twitter, eBay, LinkedIn and about a dozen other technology giants file legal brief supporting Apple in its iPhone encryption row March 3, 2016 Seventeen household names in the tech sector have filed a legal brief with a court in California today, backing Apple in its dispute over iPhone encryption. Apple has recently been embroiled in a dispute with US authorities after the technology company refused to unlock the iPhone of one of the attackers involved in the fatal San Bernardino [...]
Business fights back against the BAFTAs and BRITs with PwC’s 30th annual PLC Awards March 3, 2016 You can take your BRITs, Oscars, BAFTAs and Golden Globes. The Capitalist spent this festival season partying with bosses and politicians at the PLC Awards. As last night's host, BBC's Kate Silverton, declared: "They've got nothing on us. We know how to party!" As it was the 30th anniversary of the awards ceremony, and London has [...]
Yahoo considering the sale of $1bn-$3bn worth of non-core assets, including patents and property, finance chief tells conference March 3, 2016 Internet giant Yahoo is considering selling off up to $3bn (£2.1bn) worth of non-core assets. Speaking at the Morgan Stanley Technology, Media and Telecom Conference today, Yahoo's finance chief Ken Goldman said that the company had appointed a committee to explore spinning off its core business and is considering a quick sale of some non-core assets, such as [...]
Trouble in paradise? Mayfair club 12 Hay Hill faces legal action from its own PR firm March 3, 2016 RUMOUR reaches The Capitalist that all is not well at one of Mayfair’s newest watering holes for London’s hedge fund set. According to our mole in the West End, 12 Hay Hill, a private members club that offers respite for lawyers, hedge fund bosses and City boys, may need a new PR firm as the [...]
EU referendum: Most UK businesses are not prepared for a Brexit, despite many worrying about what changes a vote to leave on 23 June would bring March 3, 2016 A worrying number of businesses could be thrown into panic post-23 June, as many have no plan of action ready for if Britain votes to leave the EU. A study published today by professional services firm Grant Thornton discovered that two-thirds (65 per cent) of businesses have done no preparation at all for a potential [...]
Canary Wharf homes are now a reality – get them while they’re hot March 3, 2016 When the first homes went on sale at 10 Park Place on the Canary Wharf estate, there were buyers queuing a day early for them. When developer Galliard launched Maine Tower nearby, around £140m of property sold out within four hours, the equivalent of £580,000 worth of sales every minute. Now, it’s Telford Homes’ turn [...]
Oil producers set time and place for second production freeze meeting – Nigeria’s oil minister March 3, 2016 The second meeting of the Organization of Petroleum Exporting Countries (Opec) and non-Opec producers are planning to meet in Russia on 20 March to continue talks on freezing oil output, according to Nigeria’s oil minister Emmanuel Kachikwu. At the first meeting in February, brokered by de facto Opec leader Saudi Arabia; Russia, Qatar and Venezuela agreed they would cap their [...]
Thanks to Landmark Place, you never have to leave the Square Mile March 3, 2016 Two new glass structures are set to join the banks, law firms and sky gardens that line the City’s riverside in the summer of 2018. Only this time, they’ll be housing wealthy residents who want to live on top of the financial district. A nine storey block will interconnect with an 11 storey block to [...]
EU referendum: City of London Corporation signs off on campaigning for the UK to remain in the EU March 3, 2016 The City of London Corporation has today signed off on supporting Britain remaining in the European Union, rejecting calls from Corporation members and other City leaders to remain neutral in the run-up to the EU referendum on 23 June. According to a statement issued this afternoon, the Corporation's main decision-making body, the Court of Common [...]
As large multinationals like Google are slammed for taking advantage of the tax system, the Office for Tax Simplification vows to untangle tax burden for smaller companies March 3, 2016 Government has today unveiled a slew of recommendations designed to simplify tax for small businesses, including better sharing of data across departments and rejigging filing dates. The Office for Tax Simplification (OTS), which published the recommendations aimed at companies with less than 10 employees, believes a tax system that applies the same set of rules [...]