Neil Woodford and partner received £20m dividends amid crisis October 28, 2019 Former star stockpicker Neil Woodford and his business partner Craig Newman reportedly raked in dividends close to £20m in the last financial year as the crisis that would lead to the closure of their investment firm escalated. The figure, which covers the year to March 2019, is based on analysis by the Financial Times. Read [...]
HSBC weighs down FTSE 100 as election vote looms October 28, 2019 Britain’s FTSE 100 index has opened down this morning ahead of a crucial vote in the Commons on the government’s motion to hold a general election on 12 December. The blue-chip index dropped 0.39 per cent in early trading. Opposition parties have indicated they won’t support the government in the vote, which is scheduled for [...]
‘Part of the criticism we face is justified’, says FCA head October 24, 2019 The head of the Financial Conduct Authority (FCA) will say that some criticism of the watchdog is justified in a speech given in the City this evening, and that consumers need to be better warned about the risks related to investment. Speaking at the Lord Mayor’s City Banquet at Mansion House, Andrew Bailey is expected [...]
Short sellers take a bite out of Beyond Meat as shares slump October 24, 2019 Short sellers have sunk their teeth into Beyond Meat as shares in the plant-based meat substitute company come off the gas following its hugely successful US listing earlier this year. Shares in Beyond Meat had surged past $200 in July, having debuted at $25 in May, but have gone steadily downhill since then. Now short [...]
Twitter shares plunge after revenue hit by advertising bugs and weaker demand October 24, 2019 Twitter has posted worse-than-expected profit and revenue figures for the third quarter, which the company blamed on advertising bugs and unusually low demand over the summer. Shares in the social media platform tumbled over 18 per cent following the announcement. Read more: Twitter founder Jack Dorsey has account hacked as series of racist messages posted [...]
Comcast profit beats estimates after boost from broadband and Sky deal October 24, 2019 Media and communications company Comcast has beaten Wall Street estimates for third-quarter profit, which were boosted by its acquisition of Sky last year. Comcast reported an 11 per cent rise in net profit for the third quarter, ahead of analysts’ expectations, driven by a rise in broadband customer numbers. Read more: BBC ‘may not be [...]
Fate of Brexit 50p coins in doubt as extension becomes more likely October 24, 2019 The future of a batch of commemorative Brexit 50p coins emblazoned with 31 October has been thrown into doubt as it becomes increasingly unlikely that Britain will leave the European Union before that date. Chancellor Sajid Javid had asked for three million of the coins to be in circulation and ready for 31 October, with [...]
AJ Bell reports growth in customers and assets under administration October 24, 2019 AJ Bell has reported strong growth in customer numbers and assets under administration (AUA) for its first full year of trading since listing. In a trading update issued this morning, the investment platform said customer numbers had increased 17 per cent during the year to 30 September, hitting 232,066, while total AUA rose 13 per [...]
Schroders to take charge of Woodford Patient Capital Trust October 24, 2019 Schroders will take charge of the embattled Woodford Patient Capital Trust (WPCT) after former star stockpicker Neil Woodford’s abrupt departure last week. Shares in WPCT surged over 28 per cent in morning trading following the news. Read more: DEBATE: Can Neil Woodford’s reputation ever recover? Woodford’s fall from grace was cemented last week when he [...]
Watchdog goes green with new stewardship code October 24, 2019 Fund managers have been called upon to think green by a new code that calls for investment firms to focus on “sustainable benefits for the economy, the environment and society”. Climate change has appeared as a key governance concern in the Financial Reporting Council (FRC) framework for the first time, as the watchdog tries to [...]
