Star fund manager Neil Woodford eyes 10 per cent returns with new fund backing start-ups February 6, 2015 Star fund manager Neil Woodford is launching an investment fund focused on start-ups and early-stage businesses with high growth potential. The Woodford Patient Capital Trust, which will target annual returns of 10 per cent "over the longer term," is seeking to raise £200m from an initial public offering (IPO) in April. Interestingly, the fund will [...]
Yanis Varoufakis vs Wolfgang Schauble: Debt stand-off intensifies as Germany refuses to back down on Greek austerity programme February 5, 2015 A tense meeting of the Greek and German finance ministers laid bare a still-considerable schism between the two Eurozone states yesterday, with little or no progress made over how to resolve Greece’s debt crisis. Neither Yanis Varoufakis nor Wolfgang Schauble gave away any ground during an uncomfortable press conference, with Varoufakis strongly criticising the austerity [...]
Boris Bike sponsorship deal: Santander reportedly in line to beat Coca-Cola as Barclays replacement February 5, 2015 Santander UK is reportedly on the cusp of signing a £50m deal which would see it replace Barclays as the main sponsor of London's Boris Bike scheme. The deal would see Santander UK pay up to £7.5m annually for seven years, putting its red-and-white branding in the place of the blue hues currently offered by Barclays. [...]
Yanis Varoufakis urges Germany to support bridging loan and warns of Greek Nazism February 5, 2015 Greece's rock star economist Yanis Varoufakis has met with German finance minister Wolfgang Schaeuble to discuss the future of Greece and the Eurozone. Varoufakis was under intense pressure today after the European Central Bank scrapped its acceptance of Greece's debt as collateral for fresh cash. In a press conference following their meeting, it soon became [...]
Rangers boss admits he must pick Mike Ashley’s players on loan from Newcastle February 5, 2015 Mike Ashley may only have an 8.96 per cent stake in Rangers, yet it appears his influence on the club extends all the way down to what happens on the pitch. On Monday, five players arrived at Ibrox on loan from Newcastle United, the Premier League club owned by Ashley. Rangers boss [...]
Rude awakening for Greek hopes as ECB refuses to accept debt as funding collateral February 4, 2015 The new Greek government was left with a bloody nose last night after Eurozone central bankers abruptly scrapped their acceptance of the ailing Mediterranean country’s debt as collateral for funding. Syriza – Greece’s radical left-wing anti-austerity party – has spent this week sending its leaders on a charm offensive across Europe, confidently expecting to negotiate a [...]
Yanis Varoufakis expresses surprise at free market endorsement. Here’s why Adam Smith Institute agrees with Syriza February 4, 2015 The world's most interesting finance minister has expressed his surprise at being backed one of Britain's leading free-market think-tanks. Yanis Varoufakis, the man appointed by Greece's radical left wing party Syriza to sort out the country's debt crisis, tweeted "we live in a strange world" after reading comments from the Adam Smith Institute (ASI) published [...]
Boris Johnson’s Crossrail for Bikes gets green light from Transport for London February 4, 2015 Boris Johnson's ambitious Crossrail for Bikes scheme has been given the green light by Transport for London, after it was updated to reduce knock-on traffic delays. Four new cycle superhighways running throughout London have got the go-ahead and work will begin on the project within the next month. The scheme will cost £160m to [...]
Syriza facing biggest test since election as Yanis Varoufakis meets ECB chief Mario Draghi February 3, 2015 Greece’s maverick new finance minister faces his biggest challenge today as he heads to Frankfurt for potentially make-or-break negotiations with European Central Bank (ECB) chief Mario Draghi. Yanis Varoufakis is expected to try to shore up Greece’s near term finances by requesting a ceiling on Greece’s short-term borrowing to be lifted. However, some observers believe [...]
Lay off the personal attacks on Ed Miliband, Chuka Umunna urges February 3, 2015 Shadow Business Secretary Chuka Umunna pleaded with business leaders to lay off from making personal attacks on Labour leader Ed Miliband as the row between his party and business threatened to spiral out of control. Umunna said recent comments by the Boots chief Stefano Pessina, and then by Stuart Rose, the former chairman of [...]