Tech giants set to spend £25bn on advertising this year December 2, 2019 Eight tech titans including Google, Facebook and Amazon dominate the global advertising industry and will spend £25bn on advertising this year, according to new research. Google parent company Alphabet, Facebook, Amazon, Ebay, Netflix, IAC, Uber and Booking.com spent over £20bn on advertising in 2018, and are set to account for five per cent of global [...]
Private equity firm Cerberus mulls Addison Lee bid December 2, 2019 US private equity firm Cerberus is reportedly among those considering a bid for Addison Lee as the minicab company’s owner tries to secure a quick sale. Read more: Addison Lee lenders ‘circle’ taxi giant as sale effort continues Cerberus Capital Management submitted a bid for the minicab firm ahead of a recent deadline for offers, [...]
BBC election coverage draws 10,000 complaints in two weeks December 2, 2019 The BBC received more than 10,000 complaints of bias in its political coverage in a single fortnight as the General Election campaign ramped up, new figures show. The broadcaster received at least 10,209 complaints related to political coverage between 11 and 24 November, according to its latest complaints log. Read more: General election 2019: Council [...]
Civitas Social Housing raises interim dividend as profit jumps December 2, 2019 Civitas Social Housing has raised its interim dividend after reporting increases in pre-tax profit and revenue for the first half as the value of its portfolio continued to climb. Profit before tax rose 65 per cent to £17.4m during the six months to 30 September at the real estate investment trust, while revenue rose 45 [...]
Eurozone manufacturing PMI: Factories shrink for 10th successive month December 2, 2019 Eurozone manufacturing activity contracted for a 10th straight month in November, but factories in the bloc fared slightly better than expected as optimism rose. IHS Markit’s final manufacturing Purchasing Managers’ Index (PMI) rose to 46.9 for November, better than expected but still below the 50-point threshold indicating contraction. Read more: UK manufacturing sector continues to [...]
Russia’s Sberbank moves into driverless cars with joint venture November 28, 2019 Sberbank, Russia’s largest lender, is moving into driverless cars with a new investment in AI transport startup Cognitive Technologies. Read more: Uber partly to blame for driverless car death, says US watchdog The state-owned bank will take a 30 per cent stake in a new company, Cognitive Pilot, while Cognitive Technologies will take a 70 [...]
Premier hit by outflows ahead of merger with Miton November 28, 2019 Premier swung to net outflows in a “difficult year” as it finalised its merger with Miton, with Brexit uncertainty weighing on the asset manager. In its last results before the merger takes effect, Premier revealed that its assets under management (AUM) slipped from £6.9bn to £6.6bn for the year ending 30 September. Read more: Rathbone [...]
Finance chief becomes latest executive to leave Deliveroo November 28, 2019 Deliveroo’s chief financial officer has become the latest executive to leave the fast-growing food delivery company. Raif Jacobs, who joined Deliveroo in 2018, left the company in early October, according to a spokesperson. Read more: Deliveroo losses deepen in expansion drive Deliveroo has been hit by a string of executive departures this year following an [...]
Rathbone Brothers buy Barclays Wealth personal injury business November 28, 2019 Rathbone Brothers has said it will buy the personal injury and court of protection business of Barclays Wealth. The wealth and investment manager will acquire the business, which comprises £500m funds under management on behalf of around 600 clients, for an undisclosed sum. Read more: Rathbone Brothers’ shares fall as it warns on tighter profit [...]
Portfolios of biggest asset managers ‘misaligned’ with climate targets November 27, 2019 The world’s largest asset managers – responsible for a collective $37 trillion (£29 trillion) – are failing to invest in a manner that supports the goals set out in international targets on climate change, according to research released today. The investment portfolios of the 15 biggest asset managers are “misaligned” with the goals of the [...]
