Lord Mayor to tell Mansion House: City miscreants are guilty of theft June 9, 2015 Lord Mayor Alan Yarrow will demand that the City’s bad eggs are made to pay for their misbehaviour, during a hard-hitting speech at tonight’s Mansion House dinner. “I have little sympathy for those who put themselves before their clients – using their firms to feather their own beds,” the Lord Mayor will say, arguing [...]
Tsipras to meet Merkel as new reforms are rejected June 9, 2015 GREEK Prime Minister Alexis Tsipras was yesterday dealt a blow in his quest to secure a cash-for-reforms deal with the country’s creditors, as EU officials said the latest set of submitted proposals were not sufficient. He will attempt to garner political support today from German Chancellor Angela Merkel and French President Francois Hollande on the [...]
HSBC’s domicile just got serious – Bottom Line June 9, 2015 A month ago, HSBC’s plan to consider leaving the UK seemed to be going nowhere – it generated a lot of heat, but little light. The consensus was that the giant bank was a cry baby, throwing its toys out of the pram over taxes and charges it didn’t like. It would soon tire of [...]
HP loses more from Autonomy June 9, 2015 TECHNOLOGY firm Hewlett-Packard agreed yesterday to pay a $100m (£65m) class-action settlement over the ill-fated acquisition of UK software company Autonomy. The cash will compensate Dutch pension fund PGGM and others. HP acquired Autonomy in 2011 for $11bn but was forced to write down its value by $8.8bn only a year later. PGGM said HP’s [...]
Easyjet trials drones for plane checks June 9, 2015 EasyJet is trialling drones which scan a plane’s body to spot problems faster than manual inspection. Each pre-programmed drone will be fitted with high-res 4k cameras and a set of sensors. EasyJet says it plans to roll out the system within 12 months.
Zac Goldsmith joins the contest to be the next mayor of London June 9, 2015 TORY MP Zac Goldsmith entered the race for City Hall yesterday, saying that he decided to run after being approached by “people from across the political spectrum.” Goldsmith, who was first elected as the MP for Richmond Park in 2010, told the Evening Standard that he could get the best deal for the capital. “London [...]
Mansion House speech: George Osborne says budget surplus will be a legal mandate June 9, 2015 Chancellor of the Exchequer George Osborne will use a major speech in the City tonight to introduce a new law requiring future governments to run an overall budget surplus. “The result of this recent British election, and the comprehensive rejection of those who argued for more borrowing and more spending, gives our nation the [...]
London Groucho Club to open a media watering hole in New York June 9, 2015 Soho’s best-known members-only establishment, the Groucho Club, is to open its second outpost in New York after being sold by owner Graphite Capital to the club’s management team. Groucho chief executive Matt Hobbs also said plans for a third club were underway. The management buyout was backed by Alcuin Capital Partners, Isfield Investments and a [...]
Sorrell’s pay is safe as investor revolt fizzles June 9, 2015 SIR MARTIN Sorrell could breathe a sigh of relief yesterday after WPP’s annual meeting (AGM) turned out to be a far more cordial event than it has been in recent years. Opposition to his 2014 remuneration package, which has risen 43 per cent on last year to £43m, totalled just 22 per cent (including 2.7 [...]
Vice founder hints at IPO despite admitting he is not enthusiastic June 9, 2015 VICE co-founder and chief executive Shane Smith hinted at a possible public offering of the burgeoning media outlet, but said he was personally against the idea. Smith, who was speaking at the WPP shareholder meeting yesterday, alluded to the possibility of a flotation when asked by Sir Martin Sorrell if Vice was “going to go [...]
