UK sells off £750m stake in Eurostar in boost to George Osborne’s “long-term economic plan” March 3, 2015 The government is set to sell its stake in Eurostar for £757.1m as part of the coalition’s pledge to raise £20bn from asset sales by 2020. A consortium comprising Canadian pension fund Caisse de Depot et Placement du Quebec and British fund Hermes Infrastructure will buy the UK’s 40 per cent stake in the rail [...]
Dave King claims a victory in Rangers war with Sports Direct owner Mike Ashley March 3, 2015 South African businessman Dave King yesterday claimed he had recorded a “landslide victory” in his bid to wrest control of Rangers’ boardroom. Rangers has been the subject of an ongoing tug-of-war between former club director King and Sports Direct owner Mike Ashley. King – who owns 14.5 per cent of Rangers’ shares – has called [...]
Mario Draghi calling: Why the ECB’s QE may struggle to reach €1 trillion March 3, 2015 The European Central Bank’s (ECB) version of quantitative easing (QE), which was announced to much fanfare in January, involves the purchase of bonds from both institutions and individuals. ECB president Mario Draghi hopes that the proceeds of these sales will be used to buy other assets or to lend, thereby oiling the wheels of the [...]
Has Ukip just abandoned its immigration cap? Nigel Farage rejects “abitrary targets” March 3, 2015 Ukip leader Nigel Farage has said his party will reject "arbitrary targets" on immigration if it holds the balance of power ahead of a major speech on Wednesday. Farage reiterated Ukip's pledge to end what the party call Britain's "open borders" approach to immigration. In an article for the Daily Telegraph, Farage said Ukip will [...]
Mike Ashley hit with £7,500 fine for dual interest March 3, 2015 Mike Ashley was facing a less-than-hefty-fine of £7,500 from the Scottish Football Association for holding a dual interest in Glasgow Rangers. Ashley, who is reportedly worth £3.3bn, was found guilty of influencing management at Rangers after the appointments of chief Derek Llambias and finance director Barry Leach, both of whom are long-term acquaintances of Ashley. [...]
Boris Johnson isn’t going to Cannes property bash Mipim this year March 3, 2015 Boris Johnson won't attend property knees-up Mipim this year, for the first time during his tenure as mayor of London. Boris has traditionally been a vocal proponent of London's many development opportunities at the conference, for which 20,000 developers, investors, agents and civil servants descend on Cannes for a week of deal-making and revelry each [...]
2015 Forbes’ billionaires list: Bill Gates joined by Facebook’s Mark Zuckerberg, Uber’s Travis Kalanick and Snapchat’s Evan Spiegel March 2, 2015 While Forbes’ list of billionaires is topped by the usual suspects – Microsoft founder Bill Gates, business magnate Carlos Slim and investment guru Warren Buffett – young tech entrepreneurs are hot on their heels. Facebook founder Mark Zuckerberg joined the top 20 for the first time with an estimated fortune of $33.4bn (£21.7bn), placing him [...]
Mobile World Congress 2015: Facebook boss Mark Zuckerberg puts pressure on operators March 2, 2015 Facebook chief executive Mark Zuckerberg went to great lengths to rebuild bridges with global mobile operators in Barcelona last night in order to spur a project to bring free internet to the world’s poorest people. When the founder of the world’s largest social network first called on operators to support him in early 2014 his [...]
Star fund manager Neil Woodford says UK pharma still a good bet March 2, 2015 British science is in great shape according to Neil Woodford, one of the UK’s best known and most successful fund managers. Woodford, a long time investor in pharmaceuticals, said the industry remains an attractive place for those looking to make long- term returns on their investment as innovation and R&D productivity continues to gather pace, [...]
ECB meeting preview: What traders should expect from it March 2, 2015 Despite a range of economic indicators suggesting that the Eurozone economy has finally begun to turn a corner, markets had an uncertain start to the week. Although the currency bloc’s unemployment rate slipped to 11.2 per cent in January and a flash estimate of inflation came in at a better-than-expected -0.3 per cent in February, [...]