The plot thickens: Now Bill Gross sues Pimco for “hundreds of millions of dollars” October 8, 2015 Recently-departed Pimco boss Bill Gross has filed a lawsuit against the company he founded and its parent company, Allianz, for at least $200m (£130.6m), accusing them of pushing him out. In a filling submitted to a California State court, Gross accuses "a cabal" of Pimco bosses of "plot[ting] to drive [him] out of Pimco in order to take, without compensation, [...]
Etsy share price falls as Amazon comes over all hipster and launches Amazon Handmade October 8, 2015 Amazon has just done the corporate equivalent of growing a beard and getting a tattoo sleeve, after it announced the launch of Handmade at Amazon, an online marketplace for "genuinely handmade items". Sound familiar? That's because it's already been done – by Etsy, the US e-commerce site which launched a $3.5bn (£2.3bn) IPO in April. [...]
Bank of England holds interest rates at 0.5 per cent as inflation forecasts are pushed back October 8, 2015 Rate-setter Ian McCafferty failed to persuade any of his colleagues to join him in voting to lift official interest rates from their record lows this month as the Bank of England’s monetary policy committee (MPC) pushed back its inflation forecast. The MPC – which voted eight to one to hold rates – changed its tone [...]
Tate & Lyle share price falls as is reiterates not-so-sweet profit forecast October 8, 2015 Shares in Tate & Lyle fell two per cent to 568p this morning, after it said it expects full-year profits to be in line with the rather sour expectations it set out in May. In a trading update this morning, the company said guidance for the full year remained unchanged. In May it said it expected profits to [...]
London IPOs fell sharply in the third quarter as election nerves hit markets October 7, 2015 The number of initial public offerings (IPOs) fell sharply in the third quarter as uncertainty in the run-up to the General Election in May prompted many businesses to shelve plans until later in the year. Only six flotations raising £184m took place in London over the past three months, including hostel owner Safestay, which [...]
Five skills you’ll need for your 100-year career October 7, 2015 You better not be getting too attached to your current job as it is probably facing extinction. And I don’t just mean your job title: 9-5 timetables, roles and responsibilities, linear career plans and incremental promotions will all soon be as outdated as a handwritten CV. Education guru Rohit Talwar has painted a brave new world in [...]
Volkswagen emissions scandal: VW appoints new chairman Hans Dieter Poetsch October 7, 2015 Embattled car manufacturer Volkswagen has wasted no time appointing a new chairman Hans Dieter Poetsch, previously chairman of the company's financial services arm, is the man with the unenviable task of helping to steer the company through the next few months. Poetsch replaces Ferdinand Piech, who stepped down in April after a power struggle with [...]
Acton, Earls Court, Old Oak Common and Nine Elms: These are London’s next 10 housebuilding hotspots October 7, 2015 The capital's supply of homes for sale – both new-builds and people putting their previously-loved properties on the market – continues to be pathetically low. But as the government attempts to increase the number of homes being built in the capital, parts of London are about to experience mini housebuilding revolutions. Knight Frank's Global Development Report highlights the areas where the biggest [...]
Megabrew deal goes flat again: SABMiller share price loses gains as it rejects another AB Inbev offer October 7, 2015 Brewing giant SABMiller just doesn't want to mix its drinks. The company has rejected a new offer from rival AB Inbev. In a statement this afternoon, the company said the deal, worth £42.15 per share, "substantially undervalues [the company], its unique and unmatched footprint, and its standalone prospects". Calm down… The merger, dubbed "Megabrew", would [...]
