Angela Merkel and Alexis Tsipras talks light on substance – but at least they’re smiling again March 23, 2015 German Chancellor Angela Merkel struck a conciliatory tone with her Greek counterpart Alexis Tsipras during talks last night as the two sought to repair the countries’ torn political relations. However, no substantial policy agreements were made with Greece still facing the prospect of running out of cash if it is unable to propose a suitable [...]
Balls repeats history with attack on Tory sales tax record March 23, 2015 “VAT is the tax that every Tory government in the last 40 years has raised. But no Labour government has ever hiked up the main rate of VAT.” This is the hard-hitting claim that Ed Balls will level at the Conservatives today, echoing past elections when the unpopular tax was also used by Labour to [...]
David Cameron: I will not serve a third term as PM March 23, 2015 PRIME Minister David Cameron said yesterday he will not serve a third term as Prime Minister even if he is re-elected for a second term in May, and tipped Theresa May, George Osborne, or Boris Johnson to succeed him. Cameron said: “The third term is not something I’m contemplating.” Downing Street last night declined to [...]
Missed financial targets at RSA wipe a third off of Stephen Hester’s bonus March 23, 2015 RSA chief executive Stephen Hester has been granted 68 per cent of his potential bonus, with missed financial targets mostly responsible for the loss of nearly one third. Hester’s £939,000 bonus took his total remuneration for 2014 to £2.12m, according to the company’s annual report released yesterday. Hester became embroiled in several pay scandals as [...]
Vivendi rejects call for sale of Universal Music March 23, 2015 FRENCH media group Vivendi said it had rejected a US hedge fund’s call for the sale of its Universal Music unit, adding yesterday that most shareholders backed its strategy. P Schoenfeld Asset Management (PSAM) is weighing a challenge to the group’s strategy and dividend policy, as piloted by chairman Vincent Bollore, at the annual shareholder [...]
Heron Tower forex trader CWM FX drops website after provider Leverate pulls platform March 23, 2015 CWM FX has pulled the forex trading function from its website after platform provider Leverate Financial Services terminated its working agreement, City A.M. understands. Earlier this month CWM FX referred to a City of London police raid at Heron Tower (100 Bishopsgate) in which 13 people were arrested, and later released on bail. Further details [...]
Private equity owner HgCapital sells spread betting giant Sporting Index March 23, 2015 Sporting Index, which has around 80 per cent of the spread betting market, was yesterday sold to an unnamed private investor. Private equity owners HgCapital bought the company for £76m from Duke Street Capital in 2005 and had decided to put it up for sale following the 2014 World Cup. Yesterday it agreed the deal, [...]
Mclaren rolls into medical science March 23, 2015 MCLAREN Applied Technologies and the University of Oxford yesterday announced a three-year joint partnership aimed at improving the efficiency of patient care, using expertise honed by McLaren in Formula 1 racing. The agreement was signed by McLaren chief Ron Dennis (left) and Sir John Bell, Regius Professor of Medicine at Oxford (right).
Mario Draghi defends ECB policy decisions after QE rollout March 23, 2015 European Central Bank (ECB) chief Mario Draghi yesterday hit back at claims that new monetary policy measures would reduce the need for governments to undertake reforms, ultimately harming growth prospects. “Do you really think a high level of interest rates would form an incentive for a government to improve its education system, or judiciary, or [...]
Yanis Varoufakis cancels City Week speech to go to Athens March 23, 2015 Greek finance minister Yanis Varoufakis has pulled out of City Week, cancelling his plan to speak to City and global investors about Greece. Just last week his office was confirming that the high profile former professor would be giving a presentation, titled “Future of Europe: the Greek perspective” this afternoon. But instead he is [...]
