KPMG UK chair steps down after telling staff to ‘stop moaning’ February 10, 2021 KPMG UK chairman Bill Michael is stepping aside amid a probe into alleged comments made during an online meeting with consultants. On Monday, the Financial Times first reported Michael told consultants to “stop moaning” about working conditions during the pandemic. He reportedly told staff to stop “playing the victim card”. The chairman apologised saying: “I [...]
BoE’s Bailey: EU demanding more of London than other partners February 10, 2021 The Bank of England Governor has hit out at the EU for expecting more of London than its other partners when it comes to a post-Brexit financial services agreement. In his Mansion House speech, Andrew Bailey said Brussels’ demands were far higher than when the bloc negotiated with Canada, the US, Australia and others. “The [...]
Man Down: Rihanna’s Fenty fashion line closes after two years February 10, 2021 Pop star Rihanna is closing her Fenty fashion line less than two years in production. Luxury goods group LVMH announced it was putting the brand “on hold” but pledged to concentrate on the “Fenty ecosystem” which includes Rihanna’s lingerie and beauty ranges. The singer and Louis Vuitton owner launched the brand in May 2019 and [...]
Tickr: We don’t want to be a socks and sandals, preachy investment platform February 10, 2021 Everyone has something to say about ESG or “impact” investing these days. It has become the go-to buzzword for corporate firms and investment platforms. But unlike platforms that have added socially responsible features, London-based Tickr launched with a sole purpose of “impact investing”. Founded in 2018, Tickr aims to demystify sustainable investing and only offers [...]
Twitter reports record revenues of $1.3bn but user growth slows February 9, 2021 Twitter has delivered record revenues in the fourth quarter despite a turbulent year for the social media giant. The San Francisco-based company reported total revenue of $1.29bn in the fourth quarter, up 28 per cent year-over-year, beating analyst estimates of $1.2bn. It brings total revenue for 2020 to $3.72bn. Financial chief Ned Segal said this had [...]
JD Sports eyes EU warehouse as boss warns Brexit ‘worse than feared’ February 9, 2021 JD Sports is set to open an EU-based distribution centre to cope with increased Brexit red tape and tariffs. The decision could see up to 1,000 jobs moved to the continent amid concerns over delays in shipping goods and red tape just a month after post-Brexit trade rules came into effect. Chairman Peter Cowgill told [...]
FTSE 100 closes flat while Wall Street rally loses steam February 9, 2021 The FTSE 100 closed flat on Tuesday afternoon while Wall Street retreated on the back off a record session yesterday. London’s blue-chip index closed 0.12 per cent higher as sterling rose to a near three-month high, largely because the dollar floundered as investors eyed a large stimulus package on the horizon. The FTSE 250 closed [...]
Cash is still king for the majority of UK investors February 9, 2021 Cautious Brits have continued to pile money into cash savings even as interest rates remain at record lows. Some 70 per cent of Brits have put their money into cash savings with a further 38 per cent putting more in over the next year, according to research commissioned by broker HYCM. It comes even after [...]
What is Clubhouse? The $1bn app loved by Elon Musk and Mark Zuckerberg February 9, 2021 Elon Musk knows how to send markets into a tizzy, with his tweets about bitcoin and dogecoin sending prices skyrocketing. Now invite-only audio app Clubhouse is the latest craze to feel the Elon effect. At the end of last month Musk made his first appearance on the audio app with Robinhood’s chief executive. The stream maxed [...]
Electronic trading surges with traders eyeing the impact of machine learning February 9, 2021 Professional traders are anticipating artificial intelligence and machine learning to be the most influential technology over the next three years. JP Morgan’s flagship survey reveals more than half of professional and institutional traders anticipate machine learning to lead technology. Currently a third of client traders predict mobile trading applications to be the most influential this [...]
