Twitter may be worth a third of what Musk paid for it last year, figures show June 1, 2023 Twitter may now be worth one third of what Elon Musk paid for the social media platform just seven months ago, figures show. Financial services company Fidelity has reduced the market value of its equity stake in Twitter for a third time, now putting it at $6.55m (£5.28m). That is down from the nearly $20m [...]
Durex-maker Reckitt shakes up top level with new hire June 1, 2023 Durex-maker Reckitt has shaken up its top level management announcing the appointment of new presidents of its health and nutrition divisions. The new hires come two months after the cleaning-products-to-sexual-health company welcomed the appointment of Kris Licht as head of global business – with Licht taking over the role later this year. Patrick Sly, who is [...]
TEAM: AIM-listed asset manager in acquisition spree with £850m now under control June 1, 2023 TEAM, the Jersey-based asset manager, has announced two acquisitions today bringing its total funds under control to more than £850m It agreed to buy Thornton Associates, based in the Isle of Man, for up to £2.5m and that the acquisition was a “natural fit” for its existing assets in Jersey. Thornton serves around 180 clients, [...]
Explainer: Who is to blame for the decline of British universities? June 1, 2023 It’s not a great time to be a university in the UK. First came Brexit, with its impact on European students who now prefer destinations like the Netherlands, which are much cheaper and still provide top-notch education. Then came the pandemic, with remote lectures and enraged students asking for their money back. Now, the government [...]
IEA: Renewable energy to ramp up by a third this year, driven by supply security fears and Chinese growth June 1, 2023 The world's renewable energy capacity will jump a third this year, revealed the International Energy Agency.
Ex-JP Morgan executive wrote Epstein ‘should not be a client’ in 2011 email June 1, 2023 A former JP Morgan Chase executive wrote in a 2011 email that the late financier and sex offender Jeffrey Epstein should not be a client of the bank, according to a transcript of a deposition of chief executive Jamie Dimon seen by Reuters. Dimon said in the deposition he was not aware of the email at [...]
Could JP Morgan boss Jamie Dimon run for President of the United States? Billionaire investor Bill Ackman thinks so June 1, 2023 Billionaire investor Bill Ackman has argued that JP Morgan boss Jamie Dimon should run for president after comments earlier this week suggesting Wall Street’s longest-serving bank boss would consider running. In a tweet, Ackman said “we need an exemplary business, financial, and global leader to manage through what is likely to be a critically important [...]
FCA urges Woodford’s burnt investors to ‘seriously consider’ £235m redress deal June 1, 2023 The Financial Conduct Authority has urged Neil Woodford’s burnt investors to “seriously consider the offer on the table” after it struck a redress deal with the fund’s administrator earlier this year.
Prospective buyers hit with fresh blow as mortgage approvals continue to fall June 1, 2023 Prospective buyers continue to suffer setbacks as fresh data reveals that mortgage approvals fell during April. Net mortgage approvals for house purchases fell from 51,500 in March to 48,700 in April, figures from the Bank of England show, with experts predicting that the figure could fall further following the central bank’s decision to hike interest [...]
‘Antiquated technology’ scuppering fraud threat response at over three quarters of retail banks June 1, 2023 Retail banks worldwide are struggling to upgrade their defences against fraud despite the increasing threat of financial crime. According to data collected for BioCatch, 78 per cent of financial firms worldwide are concerned about their ability to respond to emerging fraud threats quickly and effectively. The report revealed how lenders feel impelled to boost defences [...]
