Laura Ashley scraps dividend after doubling losses to £4m February 20, 2020 Struggling retailer Laura Ashley will not pay an interim dividend after losses more than doubled in the first half of the year amid a “challenging” trading period. The figures Laura Ashley reported total group sales of £109.6m, down from £122.9m a year earlier, for the first half of the year. The decline in total revenue [...]
Coronavirus: Britons on Diamond Princess cruise to be flown home February 20, 2020 Britons stranded on the Diamond Princess cruise ship in Japan will be evacuated on Friday. There are 74 British nationals on the cruise, which was quarantined more than two weeks ago after a man who disembarked in Hong Kong was found to have the illness. The foreign secretary Dominic Raab confirmed that there will be [...]
EU imposes tougher AI and data rules to curb tech giants’ power February 19, 2020 The EU has today proposed a raft of new artificial intelligence (AI) rules to curb the power of US tech firms, forcing them to share their data with smaller rivals. The white paper, which is part of a wider digital programme released today by the European Commission, set out ways to limit the perceived dangers [...]
Metro Bank hands interim chief executive the top job February 19, 2020 Metro Bank has announced that interim chief executive Dan Frumkin will take the top job at the bank. Frumkin, who will be a paid a £740,000 salary, joined Metro Bank last September as chief transformation officer from The Bank of NT Butterfield & Son, based in Bermuda. He took the interim role when former boss [...]
Harry and Meghan face losing Sussex Royal brand February 19, 2020 Harry and Meghan are facing the loss of the Sussex Royal brand after giving up their royal duties to live in Canada. The use of the word ‘royal’ in the couple’s Sussex Royal brand is being reviewed after they said they were moving towards financial independence, according to Reuters reports. Last year the couple applied [...]
Coinbase becomes first crypto platform to receive Visa principal member status February 19, 2020 Cryptocurrency platform Coinbase has become the first crypto company to become a principal member of Visa. The new status will allow Coinbase to issue Visa payment cards as well as provide direct settlements. The San-Francisco headquartered platform brokers exchanges of digital currencies including bitcoin, ethereum and litecoin. It is licensed to provide flat currency-related services [...]
Crispin Odey’s firm lashes out at Anglo American’s bid for Sirius February 19, 2020 Crispin Odey’s investment firm has said it will vote against any Anglo American offer for Sirius Minerals that is not designated as “final”. In an email to the management of Sirius and Anglo American, Odey Asset Management said it does not believe that Anglo’s current offer represents fair value for Sirius shareholders. It said it [...]
OTB Ventures launches $100m fund for tech investment in Europe February 19, 2020 OTB Ventures has announced the launch of its early growth technology fund with $100m in commitments. The investment vehicle, which specialises in investments in tech companies in Central and Eastern Europe. It focuses on early stage, post-product, start-ups in region and is targeting investment in a total of 16 companies to comprise its portfolio by [...]
Franklin Templeton set to buy Legg Mason in $4.5bn deal February 18, 2020 Franklin Templeton is set to acquire rival asset manager Legg Mason in the latest sign of consolidation in the asset management industry. The investment manager announced that it had entered into an agreement to acquire Legg Mason for $50 per share in an all-cash transaction of $4.5bn. It will also assume $2bn of outstanding debt. [...]
New Cenkos appointment is second female chair of a UK stockbroker February 18, 2020 Cenkos has today announced the appointment of Lisa Gordon as its new chairman, the second female to be appointed as chair of a UK stockbroker. Gordon was the youngest woman to be made director of a listed company when she joined the board of media group Chrysalis at the age of 28. She is currently [...]
