Donald Trump’s former campaign chairman Paul Manafort sentenced to a further three and half years in prison March 13, 2019 Donald Trump’s former campaign chairman Paul Manafort has been sentenced to a further three and half years in prison after pleading guilty to two counts of conspiracy. Manafort was handed a sentence of six years and one month after admitting to two charges related to money laundering, illegal foreign lobbying in Ukraine and attempted witness [...]
Canada bans Boeing crash jet, piling more pressure on ‘dogmatic’ US authorities to follow suit March 13, 2019 Boeing’s misery deepened yet further today as Canadian authorities joined others around the globe in banning its latest jet model from their airspace. The move heaps yet more pressure on US regulators to ban Boeing’s new 737 Max range after it suffered its second fatal crash in five months on Sunday. Read more: Boeing's Ethiopian [...]
Everyman’s growing chain of cinemas underpins rocketing revenue growth March 13, 2019 A raft of new cinemas helped Everyman Media Group grow revenue 27 per cent to £52m last year, as it prepares to open a further seven venues this year. Read more: Everyman cinemas on track amid expansion plan Earnings before interest, tax, depreciation and amortisation rose 38 per cent year on year to £9.2m, the [...]
End of an era: Martin Gilbert’s legacy as he steps down from Standard Life Aberdeen chief executive role March 13, 2019 City veteran Martin Gilbert stepped down as joint chief executive of Standard Life Aberdeen this morning as the investment firm ditched the management structure put in place following the 2017 merger of Standard Life and Aberdeen Asset Management. The move brings to an end Gilbert's 36-year reign as chief executive of Aberdeen Asset Management, and Standard [...]
Mike Ashley’s Sports Direct accuses Debenhams of ‘deliberately misleading’ the market March 13, 2019 Mike Ashley’s Sports Direct has accused the Debenhams board of “deliberately misleading” the market as the retail tycoon continues to pile the pressure on the struggling high street firm. Sports Direct, which owns a 30 per cent stake in Debenhams, has written to the Financial Conduct Authority (FCA) with concerns that recent trading updates have misled investors [...]
Spring Statement: Hammond warns against no deal as UK slashes 2019 growth forecast March 13, 2019 The UK chancellor Philip Hammond slashed the 2019 growth forecast in his Spring Statement and said future spending and economic wellbeing are dependent on an orderly Brexit. Hammond announced that the Office for Budget Responsibility (OBR) had cut the country’s 2019 growth forecast to 1.2 per cent, down from the 1.6 per cent predicted in [...]
All at sea: To save the maritime sector from a no-deal Brexit we must extend Article 50 March 13, 2019 As the representative body for the UK’s maritime sector, we find ourselves yet again having to respond to parliament failing to provide the certainty and clarity that our country needs. It really is worth restating that we are just 16 days away from the UK’s scheduled departure from the European Union. Read more: Brexit vote [...]
Brookfield buys 62 per cent of Oaktree Capital in $4.7bn deal March 13, 2019 Canadian firm Brookfield Asset Management has agreed to buy 62 per cent of US alternative asset management company Oaktree Capital for an estimated $4.7bn (£3.56bn). The combined companies will have around $475bn of assets under management and $2.5bn of annual fee related revenue, creating one of the world’s biggest alternative asset managers. Read more: Oaktree Capital [...]
No gas boilers in new British homes after 2025, chancellor pledges March 13, 2019 New British homes will soon be built without gas boilers as the government tries to tackle emissions. The new future homes standard will ban fossil fuel heating systems in all new houses from 2025, the chancellor said today. Read more: Spring Statement: UK slashes 2019 growth forecast The measure will help homes reach “world-leading levels [...]
Boeing’s Ethiopian Airlines crash fallout: Everything you need to know March 13, 2019 The world's biggest plane manufacturer is up against the ropes. After the second fatal crash of one of a new Boeing plane model over the weekend, fingers are being pointed and whole continents have banned it from entering their airspace. As the fallout for businesses and consumers across the globe continues to ramp up, City A.M. brings you [...]