Permanent job numbers increased for first time in over a year following general election February 7, 2020 Improved market confidence has led to the first back-to-back increase in permanent jobs for over a year. According to KPMG and REC’s new jobs report, recruiters signalled a further rise in permanent staff appointments in January following the general election. The appointments rose in the North and South of England but fell in London and [...]
Uber meets estimates but rising costs eat into profit February 6, 2020 Uber continued to draw more customers in the fourth quarter but high costs at Uber Eats means it continues to lose money. The company’s fourth quarter revenue met Wall Street’s estimates, rising 36.9 per cent to $4.07bn (£3.15bn). It was in line with analyst expectations of $4.06bn. It was aided by an increase of monthly [...]
Activist investor Elliott builds up $2.5bn stake in Softbank February 6, 2020 Activist hedge fund Elliott Management has reportedly built a $2.5bn (£1.93bn) stake in Softbank. The activist investor is discussing ways it could boost the value of the Japanese conglomerate, according to Reuters reports. One of the issues reportedly being discussed is how SoftBank can improve the decision-making process at its Vision Fund and the possibility [...]
Antler secures fresh investment from Schroders February 6, 2020 Company builder Antler have taken their total raised to $75m, after closing investment from Schroders and FinTech Collective. Antler has raised the $75m in the last six months, with the latest tranche led by British investment management company Schroders, as well as Johan Andresen’s vehicle Ferd. The investors join an existing group that includes Facebook [...]
City grandee Peter Cruddas in line for a peerage February 6, 2020 Peter Cruddas will reportedly be granted a peerage as Boris Johnson adds to the Brexit-supporting Conservatives in the House of Lords. Cruddas, who is the co-founder and chief executive of CMC Markets, is on a list of nominees that will be considered by the House of Lords Appointments Commission, according to Sky News. The appointment [...]
Peter Hargreaves sells £500m worth of shares February 6, 2020 Co-founder of Hargreaves Lansdown, Peter Hargreaves, has announced he will sell £500m worth of shares in the investment platform via an accelerated bookbuild offering. The purpose of the offering is to enable Hargreaves to diversify his assets. “I have decided to sell some of my shares in Hargreaves Lansdown. This is part of a process [...]
Sadiq Khan urged to end ‘culture of cronyism’ February 6, 2020 Sadiq Khan has been accused of presiding over a ‘culture of cronyism’ in City Hall after his night czar was paid an extra £1,000 for taking part in a drag act to mark the 2019 borough of culture celebration. The mayor gives £1.3m to the winner of London’s borough of culture which in 2019 was [...]
Euronext follows London with consultation on shorter trading hours February 6, 2020 Euronext has joined other stock exchanges in launching a consultation into market trading hours. The Pan-European stock exchange said: “In each of our six markets, we will not only consult our direct members, but also upstream buy side and retail associations and the operators of post trade processes, clearing and settlement”. Commenting on the announcement, [...]
Coronavirus kills Wuhan whistleblower doctor February 6, 2020 The Chinese whistleblower doctor who warned the public of a Sars-like virus in December has died from the coronavirus. Dr Li Wenliang had noticed seven cases of a virus that were similar to the Sars epidemic in 2003, which killed 774 people. In December the opthalmologist warned other doctors about the virus urging them to [...]
UK fund markets buoyed by ‘Boris bounce’ February 6, 2020 The UK fund market has benefited from the ‘Boris bounce’, ending the year with December inflows of £3.6bn. The net retail sales for the month were more than double the November figure and the biggest monthly inflow since January 2018, according to the latest figures published by the Investment Association (IA). On an individual fund [...]
