Trinity Mirror share price jumps as it nears £200m deal to buy Local World September 14, 2015 Shares in Trinity Mirror jumped on Monday morning, after it confirmed reports it was close to completing a takeover of regional newspaper group Local World for £200m, in a deal that will add more than 100 titles to its media empire. Trinity Mirror’s stock was up seven per cent to 148.75p per share in mid-morning [...]
Labour’s lost it: Jeremy Corbyn’s new shadow chancellor John McDonnell wants to seize shares and impose 60 per cent tax rate September 14, 2015 Jeremy Corbyn’s Labour party last night signalled a dramatic lurch to the left with the appointment of radical socialist John McDonnell as its new shadow chancellor. McDonnell proposes the full public ownership of Britain’s banking system in order “to take control of our casino economy” and has described his interests as "fermenting [sic] the [...]
Federal Reserve’s US interest rates decision sets alarm bells ringing over global debt timebomb September 13, 2015 Global debt levels have hit dangerous heights, a top financial group has warned, leaving many countries vulnerable to a US rate hike which could come as early as this week. Recent swings in global stock markets are reflective of deep underlying problems in the global economy, the Bank of International Settlements (BIS) said yesterday. [...]
Venezuela’s “dear comrade” Jeremy Corbyn puts Labour’s moral authority at risk – The City View September 13, 2015 It's Saturday afternoon in a central London pub, and a newly victorious Jeremy Corbyn can be found leading supporters in a rousing rendition of The Red Flag. At the same time, just under 5,000 miles away, Venezuela’s opposition leader Leopoldo Lopez is beginning a 13 year prison sentence after a court of questionable legitimacy [...]
Challengers say Treasury talks are frustrating September 13, 2015 BOSSES at smaller banks have said that they were “disappointed” by recent meetings with Treasury officials. Bosses from 11 challenger banks – including Metro Bank, Aldermore and OneSavings Bank – sat down with Treasury officials on Friday to voice their concerns over a new bank tax set to go into effect next year. The tax [...]
Labour donor: Jeremy Corbyn can’t ignore business September 13, 2015 A top Labour donor has warned that Jeremy Corbyn must improve his relationship with the private sector if he is going to return his party to government. “If there is going to be a Labour government, it is going to be on the basis of support from both business and middle England,” John Mills, [...]
British retailer Next is the latest FTSE giant to invite companies to compete for its audit contract September 13, 2015 Recent regulatory changes have seen blue-chip companies enter an audit merry-go-round, with big names like Shell, British American Tobacco, Vodafone and RBS changing accountants. PwC, the market leader, is expected to lose out under the new rules, but chairman Ian Powell commented: “It’s obviously a challenge to the business, but actually our experience so far [...]
Mayfair Equity Partners leads race for Yo! Sushi in deal worth £100m September 13, 2015 THE RACE for Yo! Sushi is heating up after a new buyout firm run by former head of Lloyds’ private equity arm emerged as a frontrunner to buy the restaurant chain, in a deal valued at around £100m. Mayfair Equity Partners was founded earlier this year by Daniel Sasaki, who previously led Lloyds Banking Group’s [...]
Accountants defend their tax record September 13, 2015 As Big Four accountancy firm PwC publishes its annual report Madeline Ratcliffe talks to chairman Ian Powell. PWC, ONE of the world’s largest financial services companies, will today report their full year profits increased by six per cent, to £818m, reflecting a policy of growth and investment over the last eight years. The Big Four [...]
Chaotic markets could hit buoyant City hiring September 13, 2015 FURTHER losses on global stock markets could feed through to the jobs market by the end of the year, a professional recruitment firm has warned today. London’s professional jobs market was in fine fettle in August with 10,365 new financial services roles on offer, according to figures from Morgan McKinley, a climb of 30 per [...]
