HSBC to cut corporate broking ties with Goldman Sachs ending longstanding relationship June 3, 2019 HSBC has cut broking ties with Goldman Sachs, bringing an end to the pair’s long relationship. The banking giant has told the US investment bank that its corporate broking relationship will come to an end, Sky News reported. It comes after a review led by the bank’s new chief financial officer Ewen Stevenson. Goldman Sachs [...]
Shares in Kcom jump as it backs £563m Macquarie takeover bid June 3, 2019 Shares in Hull-based broadband firm Kcom have jumped more than 12 per cent after it unveiled a £563m takeover bid from investment bank Macquarie. Kcom’s board had last month said it backed an offer of 97p per share from the trustees of the Universities Superannuation Scheme (USS) pension fund. Read more: Shares in telecoms firm Kcom [...]
Deloitte boosts UK partner promotions by more than 40 per cent June 3, 2019 Deloitte has promoted 78 to its partnership in the UK, an increase of more than 40 per cent on the previous year. Of the new UK partners, 32 (41 per cent) are women, up from 11 in 2018, taking the firm’s female partners to 223, 21 per cent of the partnership. Fifty four of the [...]
London fintech player Worldremit raises $175m in series D funding June 3, 2019 London fintech startup Worldremit has raised $175m (£138m) in a series D funding round led by TCV, Accel and Leapfrog Investments. The cash will fund Worldremit’s plans to grab a greater share of the world remittance market, which was worth $689bn last year. Read more: Fintech startup Worldremit poaches former Paddy Power chief as its new boss [...]
Invest in green energy, urges minister, as financial risks of climate change ‘too important to ignore’ June 3, 2019 Pensions minister Guy Opperman has urged fund managers to “do the right thing” and put money into renewables. Read more: Shell switches 700,000 customers to renewables as it rebrands First Utility Speaking in London, he said pension and investment managers must take their environmental responsibilities seriously to help fight global warming. Opperman said: “The financial [...]
Kremlin says it hopes US investor Michael Calvey will be freed June 3, 2019 The Kremlin said it hopes US investor Michael Calvey, who is under house arrest in Russia, will be freed and able to attend an economic forum in St Petersburg this week. Calvey, who founded private equity group Baring Vostok, was detained in Russia in February over embezzlement charges. The businessman has denied wrongdoing and alleges that [...]
Law firm DWF announces revenue bump in first results since listing June 3, 2019 Law firm DWF said today it grew revenue 15 per cent in 2019 in its first trading update since it went public in March. DWF became the first law firm to float on the main market of the London Stock Exchange, raising £95m in a listing that valued the business at £366m. The firm said [...]
Crackdown on junk food adverts ‘will damage’ broadcasters and advertisers June 3, 2019 The government’s plan to crack down on junk food TV advertising is an “irrelevant symbolic gesture” that will damage business for broadcasters and advertisers, a damning new report has warned. Media research firm Enders Analysis said plans to ban TV adverts for unhealthy food will not tackle the issue of childhood obesity and will cause [...]
John Myers: a radio giant June 3, 2019 When I heard that John Myers had died unexpectedly, I felt more than the usual range of regretful emotions. It’s a sad fact of life that friends pass away; and sometimes they do so suddenly. We are shocked and sad and full of memories, but there was something different about this one. I was shaken, [...]
Tatton Asset Management shares jump as firm reveals two contract wins June 3, 2019 Shares in Tatton Asset Management jumped this morning after the firm reported boosted profit and revealed its investment arm has secured two new contracts. Tatton’s shares are up 5.88 per cent after the company announced that adjusted operating profit was up 12.3 per cent to £7.3m in the financial year to the end of March, [...]