Tulip tower: Developers will meet to consider appeal after Khan halts project July 16, 2019 Backers of the proposed Tulip tower will meet this week to consider an appeal against Sadiq Khan’s decision to reject their planning application, City A.M. understands. US-based developers the Tulip Project said they were “disappointed” the mayor stopped the project at the final hurdle. They maintained the tower would “generate immediate and longer-term socio-economic benefits [...]
Short sellers circle Kier Group as contractor’s turmoil continues July 15, 2019 Five hedge funds have raised their bets against Kier Group in the last month to make the troubled contractor the most-shorted stock on the market. Funds including Blackrock, Marshall Wace and Kuvari Partners hold a combined 10.9 per cent of Kier’s stock, according to regulatory filings. Read more: ‘In a dark place’: Kier shares plummet [...]
Sadiq Khan rejects Tulip tower planning application July 15, 2019 London mayor Sadiq Khan rejected plans for the controversial Tulip tower this afternoon, dashing supporters’ hopes that the Square Mile would become home to the second-tallest skyscraper in western Europe. The 305-metre building, named for its distinctive viewing platform at the top, was planned as a visitor attraction in the heart of the City, next to [...]
Symantec shares plummet as Broadcom deal talks ‘break down’ July 15, 2019 Symantec shares have plummeted in pre market trading after reports negotiations over a possible takeover by chip-making giant Broadcom had broken down. The US-listed firm’s stock fell 14 per cent before markets opened this afternoon. Symantec shares had surged earlier this month after it emerged Broadcom was close to acquiring the security software company. But [...]
Data breach reports soar since GDPR, as firms fear mammoth watchdog fines July 15, 2019 The number of whistleblower reports to the information commissioner over data breaches have jumped 175 per cent since GDPR came in, according to research. People have become more vigilant about the handling of personal data, and more likely to report potential breaches, since the regulations were introduced in May 2018 according to law firm RPC. [...]
Revolut ‘to appoint Martin Gilbert as chairman in next few weeks’ July 14, 2019 Revolut is reportedly gearing up to appoint Martin Gilbert as its first ever chairman in a bid to strengthen governance and improve investor sentiment ahead of an upcoming fundraising. Gilbert, a former co-chief executive of Standard Life Aberdeen (SLA), was first confirmed as an adviser to chief Nikolay Storonsky in March. Read more: Revolut fights [...]
Auditors ‘should have unlimited access’ to avoid another Carillion July 14, 2019 Companies could reduce the risk of Carillion-style corporate collapses by giving internal auditors “unrestricted access” to the workings of their business, according to an industry group. Furthermore, firms should let auditors attend all executive committee meetings, according to the Chartered Institute of Internal Auditors (IIA). Read more: Should the audit and consultancy arms of the [...]
Yellow vest protesters descend on Paris after Bastille Day parade July 14, 2019 Paris’ Champs Elysees avenue was set upon by so-called yellow vest protesters this afternoon, hours after it played host to the traditional Bastille Day military parade. Police fired tear gas to disperse hundreds of protesters, who were trying to block the historic boulevard after it reopened to traffic on the French national holiday. Protesters hurled [...]
Stagecoach chiefs take home top bonuses despite travel giant’s poor fortunes July 14, 2019 Stagecoach bosses took home maximum bonuses last year, despite the firm’s plummeting share price and loss of the East Coast main line rail contract. Read more: Stagecoach profits rise despite UK rail franchise loss Chief executive Martin Griffiths was paid £848,000 on top of his normal salary, bringing his total pay to £1.8m. Finance boss [...]
Grayling slammed for ‘trainwreck’ HS2 payout to Heathrow Airport July 14, 2019 Transport secretary Chris Grayling has again come under fire after giving Heathrow airport £9m to prepare for High Speed 2, despite uncertainty over the railway will go ahead. The Department for Transport (DfT) has preemptively committed to handing Britain’s biggest airport the money as compensation for knocking down a rail depot at Old Oak Common [...]
