From semaphore to algorithms, market misconduct is an age-old challenge February 25, 2020 Misconduct issues in the financial markets can be charted back well over 200 years. Analyse each case, and the same behavioural patterns recur time and time again. An early example comes from 1814 when a conspiracy was formed between Charles de Berenger, Sir Thomas Cochrane, and six others to profit from the publication of false [...]
The TfL junk food ad ban was clearly a recipe for failure February 25, 2020 Today marks a year since Transport for London (TfL) introduced a ban on junk food advertising anywhere on its network. But what impact has it had? And what are the lessons for London’s policymakers? One year on, there is little evidence that the ban has achieved much beyond generating a few headlines. In fact, it [...]
Small and medium-sized businesses confident about growth prospects this year February 25, 2020 Small and medium-sized enterprises (SMEs) are optimistic about the year ahead, projecting average revenue growth of 6.3 per cent according to research published today. The survey from Barclaycard and YouGov found SMEs in the UK predicted average revenue growth of 6.3 per cent over the next 12 months, with London businesses expecting growth of 6.5 [...]
HP doubles down on share buybacks as it defends against Xerox February 24, 2020 HP said today it would step up efforts to slash costs and buy back stock, as it seeks investor support to defend against a $35bn (£27bn) takeover offer from US printer maker Xerox. The announcement came after Xerox raised its cash-and-stock bid for HP earlier this month by $2 to $24 per share, ahead of [...]
Intuit to buy Credit Karma for $7.1bn February 24, 2020 Intuit said today it would buy privately held personal finance portal Credit Karma in a cash-and-stock deal for about $7.1bn (£5.5bn) as the Turbotax maker seeks to expand further into consumer finance. Credit Karma was valued at about $4bn based on its last funding round in March 2018, led by private equity firm Silver Lake. [...]
Nissan Europe chairman casts fresh doubt on future of Sunderland plant February 24, 2020 The future of Nissan’s Sunderland factory remains in doubt amid the ongoing trade negotiations between the UK and the European Union, the car-maker’s European chairman said today. Britain has until the end of the year to reach a free-trade agreement with the EU. If it fails, a 10 per cent tariff would be applied to [...]
Ted Baker set to sell London HQ amid accounting crisis February 24, 2020 Beleaguered clothes retailer Ted Baker is close to selling its “Ugly Brown Building” headquarters in London in a move that could bolster its balance sheet amid an accounting crisis. Ted Baker is in talks with the British Airways’ pension scheme, which owns a nearby building, to sell a big stake in the office in north [...]
Bank of England’s Andy Haldane suggests overhaul of corporate governance laws February 24, 2020 The chief economist of the Bank of England has suggested Britain should make “legislative change” to shift corporate governance rules away from a sole focus on shareholders to instead consider consumers, workers and social goals. Andy Haldane also said Britain needs a “rethink” about its banking sector, suggesting that regional, development and infrastructure banks could [...]
Sadiq Khan budget: Uncertainty over Met’s special operations funding February 24, 2020 Sadiq Khan will spend an extra £227.6m on the Metropolitan Police in 2020-21, however its specialist operations branch may face future funding uncertainty. Khan’s £18.5bn 2020-21 budget was approved by the London Assembly today. He plans to increase day-to-day spending for the The Mayor’s Office for Policing And Crime (MOPAC) to £3.89bn, which includes funding [...]
Only five car battery tech patents filed from the UK in 2019, says BDO February 24, 2020 A record number of patents were filed in 2018/2019 as countries race to develop electric car batteries – but data suggests the UK is falling behind when it comes to the automotive technology. Advisory firm BDO has found 3,400 battery patents were filed in this period, a 57 per cent increase on the year before [...]