Baird teams up with Brazilian bank BR Partners for European M&A expansion May 31, 2016 US investment bank Baird, is joining forces with Brazilian bank BR Partners in a so-called strategic alliance. The partnership is intended to increase the number of US and European mergers and acquisitions both in to and out of Brazil. According to Baird the UK and Europe need to diversify their M&A activity away from the [...]
Tech giants Facebook, Twitter, YouTube and Microsoft agree to police online hate speech May 31, 2016 Some of the biggest tech companies in the US have signed up to a European Union code of conduct to try and slow a rising tide of hate speech online. Social networks Facebook and Twitter, as well as Google's video hosting platform YouTube and software giant Microsoft, have promised the European Commission they'll try and remove hate speech within 24 hours [...]
Carl Icahn buys into Botox with Allergan stake, pushing up the share price as investors rush in after him May 31, 2016 Billionaire investor Carl Icahn has said he's picked up a "large position" in Botox-maker Allergan, though would not disclose the size of the stake. Icahn praised chief executive Brent Saunders, saying he is very supportive of Saunder's strategy, and confident he would enhance value to shareholders. News of Icahn's purchase pushed shares in Allergan up by 2.6 per cent [...]
Valeant’s keeping former chief executive Michael Pearson on as a consultant May 31, 2016 Michael Pearson, the former Valeant chief executive that was ousted from the company earlier this year, will remain on as a consultant, filings have today revealed. He will also pocket a $9m (£5m) severance payment. Pearson, who since he was appointed CEO in 2008 steered Valeant through a 1,000 per cent share price increase and subsequent collapse, [...]
Ireland-based Jazz Pharmaceuticals seals the deal with Celator for $1.5bn tie-up May 31, 2016 The big pharma consolidation wagon keeps on rolling… Ireland-based Jazz Pharmaceuticals has struck a deal to buy US firm Celator Pharmaceuticals in a cash deal valued at about $1.5bn (£1bn). The deal will give Jazz access to one of Celator's promising treatments for leukaemia but Celator is has yet to garner any revenue from the drug. Jazz is paying an eye-watering 72 per [...]
Before the bell: What you need to know before the US market open May 31, 2016 It's the last day of May, people are back at their desks after a long weekend in the UK and the US and markets in New York are pointing up. Here's what you need to know before the US market open at 14:30 London time. Ahead of the open the S&P is up by 0.04 [...]
The City Property Association has come out against Brexit after members backed staying in the EU May 31, 2016 The City Property Association (CPA) has come out in favour of the UK remaining in the European Union after two polls showed its members were "overwhelming" against Brexit. An online poll of its members last week found 75 per cent in favour of the Remain campaign. The CPA, which represents 170 companies operating in Central London, said [...]
Deloitte has added 80 new partners, 30 per cent of which are women May 31, 2016 Accountancy giant Deloitte has added 80 new partners, 24 of which are women, as the company pushes to improve its gender diversity. The new roles fall predominantly in London, with 56 of the partners working in the capital. It was recently revealed that women in London work 10 days more per year than the rest of the UK’s female [...]
Boards are still failing to fix culture in their organisations; though financial services is leading the way May 31, 2016 Defining corporate culture is still an issue at many companies, new research has revealed. Nearly one in three (31 per cent) of boards across the public and private sectors have not established or articulated what sort of corporate culture they want, according to the Chartered Institute of Internal Auditors. It was also found that even when companies [...]
Australia set to auction off bitcoin stash as Chinese demand propels the price higher May 30, 2016 Australia is going to sell off £7.5m worth of bitcoin it confiscated as “proceeds of crime” during 2015. The auction will be the first of its kind outside of the US. Separately, the price of bitcoin has jumped over the last few days after a surge in demand out of China. Read more: Ethereum's value is already up 1,100 [...]
