Ukip leader Diane James stands down after just 18 days October 4, 2016 Ukip leader Diane James has stepped down as the party's leader after just 18 days at the helm. Ukip sources have told City A.M. that James had "cited her husband's ill health", while others said she had been reluctant to stand for leader from the beginning. The news was first reported by the Sun newspaper. Read more: Nigel [...]
Krispy Kreme sold to US parent as UK floatation plans deserted October 4, 2016 US doughnut chain Krispy Kreme is buying the UK business from its private-equity owner. Earlier in the week Krispy Kreme UK abandoned its planned £200m London initial public offering after a bid from its US parent. No financial details were disclosed but it’s thought the price tag is in the region of the planned IPO, [...]
Bill Gates tops US rich-list as Trump plunges October 4, 2016 Microsoft founder Bill Gates has retained his position as the richest person in the US for the 23rd year running. The latest Forbes ranking of the richest Americans put the tech entreprenuer top with a net worth of $81bn (£62bn). Meanwhile, US presidential hopeful Donald Trump took a hit, with his personal fortunre dropping around $800m, [...]
SVG Capital to sell half of its assets in bid to fend off hostile takeover October 4, 2016 SVG Capital has agreed to sell half of its assets to two private equity firms and wind itself down, in a complex bid to fend off a hostile takeover by US rival HarbourVest. The FTSE-250 firm has been scrambling to find alternatives to HarbourVest's £1bn bid announced last month, which it believes undervalued itself and its assets. SVG said [...]
China M&A frenzy around the world set to continue according to Freshfields October 4, 2016 CHINA'S vast appetite for overseas acquisitions is laid bare in new M&A monitor by law firm Freshfields Bruckhaus Deringer. The law firm found that China leads outbound M&A with 173 signed deals valued at $128.7bn, including a number of massive acquisitions in the first half of 2016 such as ChemChina’s $43bn bid for Swiss agrichemicals [...]
Jeremy Hunt’s anti-foreigner agenda will devastate the NHS October 4, 2016 In the bizarre post-Brexit chaos, there are now increasing voices arguing that in order to curb immigration from the EU we should be willing to give up access to the Single Market. We should be clear that both of these developments would be disastrous for the City, negative for the economy as a whole and a catastrophe [...]
Sadiq Khan’s plan for one new East London road crossing just isn’t enough October 4, 2016 After years of lobbying for more fixed river crossings east of Tower Bridge, Sadiq Khan’s announcement yesterday that the Silvertown tunnel, along with a DLR extension from Gallions Reach towards Thamesmead and a cycle bridge between Rotherhithe and Canary Wharf, will get the go-ahead is hugely welcome news for London. But he must not stop [...]
The biggest announcements from Google’s Pixel event October 4, 2016 After some hefty leaks last week, Google has just officially unveiled a new collection of devices with Google Assistant — the tech giant's artificial intelligence engine — at their core. Pixel Chief among Google's announcements was the reveal of its new phone, called Pixel. The iPhone rivalling handset is available in two sizes, Pixel and Pixel XL, with the former sporting a 5-inch 1080p screen and [...]