Flash crash trader sentenced to one year’s house arrest January 28, 2020 British trader Navinder Sarao who was responsible for the so-called flash crash in 2010 has been sentenced to one year home incarceration. Sarao was arrested in 2015 and pleaded guilty to illegally manipulating the stock markets. The sentence, which was handed down by a Chicago court yesterday, was thrown into doubt after lawyers said it [...]
Foreign Office warns against ‘all but essential travel’ to China January 28, 2020 The Foreign Office has warned against “all but essential travel” amid the coronavirus outbreak which has spread across the globe. The death toll rose to over 100 today, with the number of confirmed cases doubling to nearly 5,000. Foreign secretary Dominic Raab said: “Due to the increasing travel restrictions and the public health situation, we [...]
Addison Lee secures rescue deal as banks take over January 28, 2020 Addison Lee has secured a rescue deal as its banks struck a deal to take control yesterday. The struggling cab firm’s lenders have agreed to inject £45m of cash into the business, according to The Telegraph. It wipes out US private equity firm Carlyle’s investment which bought the taxi operator for £300m in 2013. The [...]
SAP’s new leadership raises guidance following strong results January 28, 2020 SAP raised its guidance today following a strong set of quarterly results under its new leadership duo. The technology firm has raised its revenue and profit outlook. SAP forecasts that operating profit will reach €8.9bn to €9.3bn in 2020. Revenues are expected to gain 6-8 per cent to €29.2bn (£24.7bn) to €29.7bn (£25.16bn). It is [...]
CMA sets out the issues in Amazon’s Deliveroo investment January 28, 2020 The Competition and Markets Authority (CMA) has today laid out plans for the next stage of its investigation into the Amazon and Deliveroo tie-up. The regulator has set out the key areas it plans to assess. It includes whether the deal could damage competition in the online restaurant food delivery market and the emerging market [...]
Financial services firms tap into diversity data to improve workforce January 28, 2020 Progressive financial services firms are increasingly using diversity data to drive their agenda. Firms are rethinking their approach to data to deliver improvements to their workforce, according to research from New Financial. The think tank found that boards are raising their data requirements in response to external pressures. Legislation requires employers with 250 or more [...]
UK confirms 73 people have tested negative for coronavirus January 27, 2020 A total of 73 people have tested negative for coronavirus in the UK as the death toll in China rises to 81. The Department of Health and Social Care (DHSC) announced today that there had been no coronavirus cases in the UK or of UK citizens abroad, and the risk to the public is low. [...]
Entrepreneur tax relief to be scaled back in Budget January 27, 2020 The government will reportedly scale back a tax break for entrepreneurs amid concerns it is overly generous to the wealthy. A senior cabinet minister told The Financial Times that the Chancellor Sajid Javid is drawing up plans to curb the tax break. The Conservatives’ general election manifesto outlined plans to review and reform the relief. [...]
Unlimited visa offer to attract top scientists and researchers January 26, 2020 An unlimited fast-track visa scheme to attract the world’s top scientists and researchers will open in the UK next month. The “Global Talent” route will replace the Exceptional Talent visa. There will be no cap on the number of people able to come to the UK. The UK Research and Innovation (UKRI) body will join [...]
Goldman Sachs introduces gender quota for floats January 26, 2020 Goldman Sachs will not take a company public unless there is at least one “diverse” candidate on the board. Speaking at Davos last Thursday, the bank’s chief executive David Solomon said: “From a governance perspective, diversity on boards is a very, very important issue.” The push for diversity will be focused primarily on women. Solomon [...]
