Investors in Neil Woodford’s frozen flagship fund get first payout January 28, 2020 Hundreds of thousands of investors trapped in the flagship fund of disgraced stockpicker Neil Woodford are facing steep losses, as details emerge of the first payout since the fund was gated in June. Initial payments of between 46.3p and 58.9p per share will be made to investors, administrator Link Fund Solutions said in an update [...]
With 100 days to go, can Sadiq Khan lose the 2020 London mayoral election? January 28, 2020 Even Sadiq Khan’s biggest critics would acknowledge his skill in working a crowd. The mayor of London glides from person to person, selfie to selfie, handshake to handshake. At a time when politicians are not exactly enjoying public favour, he seems to have plenty of Londoners firmly on his side. The response toward Khan by [...]
Mike Ashley in talks to sell Newcastle United for £340m January 26, 2020 Retail tycoon Mike Ashley is in talks to sell Newcastle United football club to a consortium including Saudi Arabia’s sovereign wealth fund for £340m. The billionaire owner of Sports Direct – recently renamed Frasers Group – bought Newcastle United in 2007 but is now in talks with a group led by British financier Amanda Staveley [...]
Build it better: How the office of the future can help save the planet January 23, 2020 Climate change is the headline topic in Davos this week, where business leaders and politicians have gathered for the World Economic Forum. Activist Greta Thunberg told the gathered elite that their inaction over the climate was “fuelling the flames by the hour”. While many may dismiss her warnings (President Donald Trump earlier urged leaders to [...]
Liquidity concerns mount as investors pull £1bn from Mark Barnett’s Invesco funds January 22, 2020 Investors pulled at least £1bn from Invesco funds managed by Mark Barnett in the final quarter of 2019 amid mounting concerns over liquidity following the collapse of Neil Woodford’s investment empire. Estimates from financial data provider Morningstar suggest the three funds managed by Barnett — Invesco Income, High Income, and UK Strategic Income — suffered [...]
Sajid Javid denies ‘no alignment’ with EU plan will hit manufacturers January 21, 2020 Sajid Javid has denied the government’s policy of “no alignment” with European Union rules will damage the manufacturing industry. The chancellor was asked whether comments made over the weekend that some firms would not benefit from Brexit meant he was prepared to sacrifice some UK manufacturers. He said: “No, not at all. We look forward [...]
Move over, ‘Davos Man’, climate is the big issue this year January 21, 2020 It’s that time of the year again: policymakers, politicians, bankers, activists, journalists, and a swathe of cameras are descending upon the snowy peaks of Davos for the World Economic Forum (WEF). Once branded the playground for the elite, epitomised by the stereotypical champagne swashing “Davos Man”, this year the gathering ostensibly seems to be morphing [...]
In the impeachment saga, Trump Derangement Syndrome is destroying the Democrats January 20, 2020 In politics, as in life, hatred can get in the way. And the base of the Democratic party, even more than its leadership, hates Donald Trump beyond reason. Over the impeachment saga, hatred is killing them. There are, of course, myriad reasons — some of which I share — to despise the President. Trump’s ugly braggadocio, [...]
Chancellor Sajid Javid warns business ‘there will be no alignment’ with EU on regulations January 18, 2020 The Chancellor has warned businesses that “there will not be alignment” with the EU on regulations following Brexit. Sajid Javid said firms will have to “adjust” to new regulations. The automotive and pharmaceutical industries were among those that warned the government last year of the damage that not aligning with the EU could do. Javid [...]
Mike Ashley’s Frasers Group to close six Jack Wills stores January 16, 2020 High street fashion brand Jack Wills has announced it will shut six stores, blaming “unhelpful” landlords for the closures. Mike Ashley’s Frasers Group, which bought the fashion retailer out of administration for £12.8m last year, today said shops in Bournemouth, Camberley, Cheltenham, Soho, Turo and Witney will close within the next month. Ashley’s retail empire, [...]