Government launches review into Britain’s financial rules ahead of Brexit July 19, 2019 The City’s financial rules are set to be reviewed by the government ahead of Britain’s departure from the EU. While there are no plans to change the format of the current financial watchdogs, the government has launched a review into how regulation within the financial sector could be changed post-Brexit. Read more: Jeremy Hunt misses [...]
Homebase closes in on Bathstore takeover July 19, 2019 Homebase is set to buy struggling retailer Bathstore after the UK’s largest bathroom specialist fell into administration three weeks ago. Administrators BDO have since been looking for a buyer to save the flagging chain, and now Homebase are close to agreeing a deal, according to The Telegraph. Read more: Homebase named UK’s worst retail website [...]
Shareholders rebel at Homeserve over ex-director payouts July 19, 2019 Shareholders dealt home repairs company Homeserve a bloody nose today as 30 per cent voted against the directors’ pay report. Read more: Homeserve maintains strong outlook as investors toast success across the pond Advisory firm Institutional Shareholder Services (ISS) had recommended Homeserve shareholders vote against the remuneration report – which lays out directors’ pay – [...]
Israeli security firm NSO denies Whatsapp spyware can hack data from Google Cloud, iCloud and Facebook July 19, 2019 Israeli cyber security company NSO has denied telling customers that its Whatsapp-hacking spyware is capable of hacking people’s data from the servers of Apple, Google, Facebook, Amazon and Microsoft. NSO’s smartphone malware, named Pegasus, has been used by governments for a number of years to spy on specific individuals and how they use their smartphones, [...]
Judge dismisses Credit Suisse claims in £239m banking bonus row July 19, 2019 A UK court has dismissed an attempt from Credit Suisse to recoup £239m that it paid as a one-off tax on bonuses, closing the curtains on a decade-long tussle that was sparked by the financial crisis. Read more: Dixons Carphone executives delay bonuses The Swiss multinational bank has lost a legal battle with HMRC over [...]
Blackrock profit drop misses expectations July 19, 2019 Blackrock disappointed Wall Street expectations this afternoon after posting a worse-than-expected fall in quarterly profits. The world’s largest asset manager reported net income of $6.41 per share, or $1bn (£800m), falling from $6.62 per share in the same quarter last year and missing Refinitiv estimates of $6.50 per share. Read more: Outgoing RBS boss Ross [...]
Rothschild snaps up stake in Redburn as industry pressures drive consolidation July 19, 2019 Rothschild has snapped up a minority stake in equity research house Redburn, in the latest sign of industry consolidation amid regulatory pressures from EU legislation. The deal, which was struck for an undisclosed sum of money, will help Rothschild broaden its range of services and boost Redburn’s expansion plans, the two firms said earlier this [...]
Sadiq Khan slammed for London rental cap proposals July 19, 2019 Mayor of London Sadiq Khan has been blasted as “economically illiterate” after announcing plans to cap rents on homes in the capital. Read more: Sadiq Khan rejects Tulip tower planning application Khan today called for the government to give him powers to limit the amount rents can rise in London, which has seen rental prices [...]
CMA warns train passengers face higher prices if Abellio takes on East Midlands franchise July 19, 2019 The UK’s competition watchdog raised concerns today about higher ticket fares on two routes it is probing as part of an investigation into Abellio’s acquisition of the East Midlands franchise. Abellio’s ownership of Greater Anglia means it would operate a monopoly on the Norwich to Ely and Thetford to Ely routes as it would then [...]
Focus on St John’s Wood: Super-prime rentals are hot property in this US enclave July 19, 2019 With its secluded streets, proximity to the West End and legendary status in the worlds of both sport and music as the home of Lord’s and Abbey Road, St John’s Wood has long been a desirable address. PG Wodehouse made it the home of Bertie Wooster’s best pal, aristocrat Bingo Little, in his Jeeves series; [...]