Electric cars expected to reach 21m globally by 2030 January 21, 2019 There will be an additional 21m electric vehicles on the road globally in the next decade, according to new analysis by audit firm Deloitte. In 2018 there were two million electric cars, with Deloitte predicting the number to rise to four million in 2020, 12m in 2025 and 21m by 2030. The report predicts battery [...]
London office transactions hit highest level since 2014 January 21, 2019 Central London office investment transactions in 2018 hit £17.6bn, a 10 per cent rise on 2017 and the highest level since 2014. According to real estate firm CBRE, there was £5bn of investment transactions in the fourth quarter of 2018, which marked a 16 per cent rise in investment volumes compared to the third quarter [...]
Former Superdry boss could call shareholder meeting to force return January 20, 2019 Former Superdry boss Julian Dunkerton has said he will call an extraordinary general meeting of the company’s shareholders in the next four weeks in a bid to return to the company. Dunkerton, who co-founded the business, has been campaigning to return to the company, after a string of profit warnings and a calamitous drop in [...]
Case alleging Libor-rigging launched against raft of major banks January 20, 2019 A string of major banks have been accused of rigging the Libor benchmark again, five years on from a major scandal. A class action has been filed in the US against banks such as the Royal Bank of Scotland, Barclays, Lloyds Banking Group, HSBC, UBS, Bank of America, Citi and Deutsche Bank. The action, which [...]
Prominent MP slams City watchdog over lack of action on allegations of interest swap mis-selling January 20, 2019 A prominent MP has blasted the head of the Financial Conduct Authority (FCA) Andrew Bailey over the watchdog’s response to alleged mis-selling by Clydesdale Bank. Conservative MP Kevin Hollinrake, head of the all party parliamentary group on fair business banking, said the FCA had failed to “press the case for justice and compensation” for thousands [...]
CYBG could face shareholder unrest over executive pay following Virgin Money deal January 20, 2019 Virgin Money’s new owner CYBG could face an investor backlash after a respected shareholder advisory group slammed its executive pay plans which it said are “not supported by compelling rationale”. The report by advisory group ISS said that following the acquisition of Virgin Money for £1.7bn last year, the company plans to nearly double variable [...]
Nearly half of business leaders now support a second Brexit referendum January 20, 2019 Nearly half of business leaders would support a second Brexit referendum following the defeat of Prime Minister Theresa May’s Brexit agreement in parliament. In a survey of 1,200 business leaders carried out between 17-19 January, 45 per cent said they would support a second referendum or a referendum on the withdrawal deal. Twenty nine per [...]
Flawed cyber insurance policies could lead to years of litigation January 17, 2019 The majority of cyber insurance policies on the market are riddled with flaws and may not pay out in the event of a data breach or hack, according to new research. A review by insurance governance company Mactavish of dozens of off-the-shelf cyber policies identified a litany of flaws. Mactavish chief executive Bruce Hepburn said: [...]
Hard Brexit risks ‘manageable’ says Irish central bank official January 17, 2019 The risks of a “cliff edge” Brexit to the stability of the Irish financial system are manageable and the majority of its “most significant” firms are already executing contingency plans, the Central Bank of Ireland deputy governor Ed Sibley said today. Sibley said: “I am satisfied that from a financial stability perspective the most material [...]
Paid tha Cost to Be da Boss: Snoop Dogg invests in Swedish fintech unicorn Klarna January 17, 2019 Rapper Snoop Dogg has invested in $2.5bn (£1.94bn) Swedish fintech company Klarna, it emerged today. The rapper, famed for hits such as Gin & Juice, From tha Chuuuch to da Palace and Ain't Nuthin but a G Thang, has more lately reinvented himself as an investor, playing a role in specialist cannabis venture capital firm [...]
