Amber Rudd joins City firm Teneo to offer “strategic advice” February 4, 2020 Former home secretary Amber Rudd today announced she will be joining City PR giant Teneo Blue Rubicon, offering the firm’s clients “strategic advice”, after stepping down as a member of parliament before the December election. Rudd campaigned for ‘Stronger In’ during the EU referendum, where she worked closely with new Teneo colleague Sir Craig Oliver, [...]
Goldman Sachs partner caught up in 1MDB scandal barred from banking industry February 4, 2020 The Goldman Sachs partner who was put on leave over the 1MDB scandal has now left the bank and has been permanently barred from the banking industry. The Federal Reserve said it is permanently barring Andrea Vella from the industry for his “role in Goldman’s financing of a defrauded Malaysian sovereign wealth fund.” “The [...]
Vanguard to bypass banks with new forex algorithms February 4, 2020 Asset manager Vanguard is reportedly set to bypass banks and start using computer-run algorithms to trade FX directly with other funds. The head of FX trading at Vanguard, Andy Maack, told Reuters that the fund was in talks with several forex platforms about launching algorithms to seek out and trade with other asset managers. Trading [...]
Irish regulator launches probe into Google and Tinder February 4, 2020 The Irish data regulator has opened inquiries into the way Google and Tinder handle users’ data. The Irish Data Protection Commission (DPC) said it had received complaints relating to both companies from individuals across the European Union. Match Group, which owns the online dating platform Tinder, will be investigated for the “ongoing processing of users’ [...]
Lending to customers by challenger banks reached record high last year, study finds February 3, 2020 Lending to customers by UK challenger banks has more than doubled in the last five years to a record high of £115bn. A number of challenger banks were set up in the wake of the credit crunch to fill the gap left in the market by high street banks. However research by advisory firm BDO [...]
Police evacuate Soho over suspected World War 2 bomb February 3, 2020 The Metropolitan Police have evacuated an area in Soho as they assess whether an old World War 2 bomb has been uncovered. They were called to Dean Street after reports of an unexploded ordnance at 1.48pm today. The London Fire Brigade is also on the scene. The Met said: Officers continue to work in Soho [...]
Advent International teams up with rival private equity firms to plot takeover of Pepco February 3, 2020 Private equity firm Advent International is reported to be working with Hellman & Friedman and Mid Europa Partners on a bid for Pepco Group. A takeover could value Pepco at more than €4.5bn (£3.8bn), Sky News reported. Steinhoff International is looking to sell Pepco, which includes retailer Poundland. Advent offloaded Poundland to Warburg Pincus for [...]
Searchlight Capital acquires majority stake in GRP February 3, 2020 Searchlight Capital Partners has announced it will take a majority stake in Global Risk Partners (GRP). GRP founders Peter Cullum CBE and David Margrett, as well as founding investor Penta Capital, will all retain minority stakes. Searchlight paid an undisclosed fee for a majority stake but it is understand that the deal values GRP at [...]
Education secretary urges parents to rethink apprenticeships February 3, 2020 Gavin Williamson has urged parents to move on from “outdated” stereotypes of apprenticeships. A new survey by the parent website Mumsnet found that too many parents are unaware of the range of opportunities apprenticeships can offer. According to the research published today, over 60 per cent of parents of children aged 13-18 surveyed said they [...]
Nissan plans to increase UK market share in Brexit contingency plan February 2, 2020 Nissan has drawn up a contingency plan to pull out of Europe if Brexit leads to tariffs on car exports, but will double down on the UK. The Financial Times reported that according to two people involved in the plan, drawn up last year, Nissan would close its Barcelona van facility and stop manufacturing in [...]
