Apollo Global Management scraps partnership status to become a corporation May 2, 2019 Apollo Global Management has announced that it is scrapping its partnership status to become a corporation, following similar moves by private equity rivals Blackstone and KKR. The conversion, which is expected to become effective in the third quarter of this year, will see the investment company paying more corporate tax under a simplified structure, which [...]
From Bercow to Corbyn, Trump’s UK visit has exposed a nest of political hypocrites May 2, 2019 No sooner had the announcement been made that President Donald Trump would be making a state visit to the UK in June than a predictable flurry of criticism emerged from a group of the usual suspects. Leading this crowd of dissenters who have said that they will refuse to attend a state dinner with our [...]
US Federal Reserve opts to hold interest rates in strong labour market May 1, 2019 The US Federal Reserve said today it was not raising interest rates, citing a strong labour market with solid economic activity. The Fed said it would maintain its target rate at 2.25 to 2.5 per cent. It said the labour market remains strong and economic activity rose at a “solid rate”. It said job gains have [...]
US stocks rise as ‘productive’ China trade talk round ends May 1, 2019 US stocks have climbed higher after markets opened following the end of another round of trade talks between the United States and China that treasury secretary Steven Mnuchin called “productive”. Mnuchin flew to Beijing on Tuesday with US trade representative Robert Lighthizer to hold discussions with their Chinese counterparts. Mnuchin today tweeted: “Ambassador Lighthizer and [...]
British voters torn over President Donald Trump’s UK state visit in June April 29, 2019 With President Donald Trump’s state visit to the UK in June already provoking fights between politicians, a new poll shows voters are as split as their Westminster representatives. Read more: Corbyn snubs invite to state banquet for Trump Just under half of the UK (47 per cent) is opposed to Trump's visit in June, according [...]
US inflation cools in March, adding to pressures on Federal Reserve April 29, 2019 The US inflation rate fell in March, the latest official figures have revealed, in a development that will keep the pressure on the Federal Reserve to hold back from raising interest rates. Read more: Analysts expect outward looking Fed to keep rates on hold The core annual inflation rate fell to 1.6 per cent in [...]
Mnuchin says US-China trade deal could be sealed within two rounds of talks April 29, 2019 US treasury secretary Steven Mnuchin said today that he hopes the United States and China can reach a trade deal using two more rounds of talks. Read more: US trade deficit shrinks as exports to China surge Mnuchin told Fox Business Network that within the next two rounds of discussions it will become clear whether [...]
Atomic London wants to modernise the creative agency landscape and help solve marketing problems April 29, 2019 The big ad agencies are struggling. WPP’s challenges since Sir Martin Sorrell’s departure are well documented. Last week, it was reported that car rental company Hertz was suing its former marketing partner Accenture over a piece of shoddy web design. More broadly, brands are bringing their marketing in-house, denying revenue to agencies. For advertising executive [...]
Has the government’s £1bn artificial intelligence sector deal made any difference? April 26, 2019 One year on, has the government’s £1bn artificial intelligence (AI) sector deal made any difference? Dr Jeremy Silver, chief executive of Digital Catapult, says YES. A year after the announcement of the government’s sector deal, investment is at an all-time high. AI startups in the UK raised nearly £1.3bn in 2018, very nearly eclipsing the [...]
Oil prices fall after Trump’s showdown with Opec April 26, 2019 Oil fell today after President Donald Trump said he “called up” the Opec oil cartel to demand they bring down prices. Read more: Corbyn snubs state dinner invite during Trump's UK visit “Gasoline prices are coming down. I called up Opec, I said you’ve got to bring them down. You’ve got to bring them down,” Trump [...]