Editor’s Notes: A dose of rational optimism blew away the fog of Brexit March 22, 2019 After another week of Brexit-related chaos, I was determined to cheer myself up yesterday, and so set a course for the annual Adam Smith Institute lecture in the House of Lords. This year’s speaker was Steven Pinker, the Johnstone Professor of Psychology at Harvard – and a master optimist. If Pinker’s empirical case for the [...]
City Moves for 22 March – who’s switching jobs at Rabobank, Legal & General and Exterion Media? March 22, 2019 Who’s on the move? Rabobank Rabobank, the global food, beverage and agribusiness bank, has appointed Thomas Levin as senior coverage banker in its global corporate clients team, based in London. Thomas brings more than 13 years of experience in corporate and investment banking. He joins from Mizuho Bank where he was responsible for originating M&A [...]
Facebook admits millons of unencrypted passwords were accessible by employees March 21, 2019 Millions of unencrypted Facebook passwords were accessible by more than 20,000 employees, the social media giant has admitted. A data protection failure going back as far as 2012 saw up to 600m passwords stored in plain text, according to security researcher Brian Krebs. Read more: Facebook blames server problem for worst outage ever The company [...]
Institute of Directors concerned over future of UK corporate governance under new audit regulator March 21, 2019 The Institute of Directors has expressed concern over the future of corporate governance in the UK following the establishment of a new audit regulator. The influential business organisation said the proposed regulator that is set to replace the Financial Reporting Council (FRC), which is being abolished in the wake of a string of corporate scandals, [...]
Levi shares soar as jeans retailer makes stock market return March 21, 2019 Shares in jeans retailer Levi Strauss soared more than 30 per cent as it returned to the stock market today, giving the company a market value of $8.7bn. The denim brand, which has described itself as “the inventor of blue jeans”, started trading on the New York Stock Exchange this morning after it was taken [...]
Energy supplier owed £12m to customers when it went out of business March 21, 2019 Failed supplier Economy Energy owed nearly £12m to customers when it went out of business earlier this year, according to new documents. Filings with Companies House show the company was £67.6m in debt when it entered administration at the beginning of January. Read more: Ofgem bans E from buying customers from failed provider Economy Energy [...]
Deutsche Bank drops down investment bank table while Barclays gains ground March 21, 2019 Deutsche Bank has fallen below its US rivals in a ranking of investment banks in Europe, adding to the under-fire German lender’s woes. Citigroup and Goldman Sachs both jumped above Deutsche Bank in a ranking of the world’s investment banks at the end of last year. JP Morgan maintained the top spot in both the [...]
Boeing’s grounded 737 Max jets ‘set for extra cockpit safety alarms’ in wake of Ethiopia crash March 21, 2019 Boeing will reportedly install extra safety alarms in the cockpits of all its 737 Max planes after the model suffered its second fatal in five months earlier this month. The 737 Max range, Boeing’s new flagship plane designed to be a mainstay for decades to come, has been grounded by authorities across the globe after [...]
EU agrees to delay Brexit until 22 May if MPs back Theresa May’s deal March 21, 2019 The EU has said it will agree to a short delay to Brexit only if MPs back Theresa May's withdrawal deal next week. A leaked EU document read: "The European Council commits to agreeing to an extension until 22 May 2019, provided the WA is approved by the HoC next week. Given that The UK does [...]
Luxury rental property platform The Plum Guide to use £14m fundraise for rapid expansion March 21, 2019 High-end property rental platform The Plum Guide, which aims to eliminate disappointment from holiday bookings, has raised £14m in a Series B funding round led by Talis Capital as it prepares to launch in six more cities. The Plum Guide, which was set up in London in 2015, will be available in Barcelona, Berlin, Copenhagen, [...]