Audit firm Grant Thornton appoints new boss after controversial exit of Sacha Romanovitch November 19, 2018 The UK’s fifth-largest audit firm Grant Thornton has appointed restructuring partner Dave Dunckley as its new chief executive, following the ousting of previous boss Sacha Romanovitch. Romanovitch, the first female boss of a large UK accounting firm, was ousted after an anonymous memo said to represent 15 partners was sent to the press criticising her [...]
Business secretary says extending Brexit transition period is an option November 19, 2018 Business secretary Greg Clark said today that extending the UK’s transition out of the EU to 2022 was an “option”. Speaking to the BBC, Clark said there could be a parliamentary vote on extending the transition period out of the EU. Yesterday the EU’s lead Brexit negotiator Michel Barnier proposed extending the UK’s transition out [...]
Broker and online trading platform AJ Bell to launch £500m float in London next month November 19, 2018 Online investment platform and broker AJ Bell today confirmed plans to float in London next month in a listing that could value the company at up to £500m. The float gives major shareholders Invesco Perpetual and chief executive Andy Bell an opportunity to sell down their stakes in the business while widening AJ Bell’s shareholder [...]
City veterans launch new corporate finance boutique November 19, 2018 A former board member of investment bank Zeus Capital is today launching a corporate finance boutique alongside a senior executive from Nex Exchange. The new firm, Guild Financial Advisory, will advise companies on initial public offerings (IPOs), fund raising, deals and corporate governance. Its chief executive Ross Andrews previously spent eight years with Zeus where he [...]
UK to build two communications satellites in deal worth in excess of €200m November 19, 2018 European satellites giant Eutelsat Communications has signed a deal worth in excess of €200m (£177.9m) to build two new satellites in the UK, business secretary Greg Clark announced today. The deal between Eutelsat and Airbus Defence and Space will see components and major parts for two new communications satellites assembled in the UK before final [...]
Competition and Markets Authority launches probe into bond market November 18, 2018 The UK’s competition watchdog has launched an investigation into a suspected financial services cartel in the bond market. The Competition and Markets Authority (CMA) said on Friday that it had launched a probe into alleged anti-competitive activity under Chapter One of the Competition Act 1998, which addresses price fixing and attempts to control markets. The [...]
Morgan Stanley banker drops out of RBS finance chief race November 15, 2018 Morgan Stanley investment banker William Chalmers has pulled out of the race to take the chief financial officer job at the Royal Bank of Scotland. Chalmers had been in the running to replace Ewen Stevenson as the bank’s CFO, but has now withdrawn from the race, it is understood. Sky News reported Chalmers had come [...]
Donald Tusk says UK would be welcome to remain in EU if Brexit deal not reached November 15, 2018 European Council president Donald Tusk has said that the UK would be welcome to remain in the EU if a deal could not be reached. The former Polish prime minister told reporters in Brussels today that: “The EU is prepared for a final deal with the United Kingdom in November. “We are also prepared for a [...]
Facebook blasted by Soros foundation for ‘smear campaign’ November 15, 2018 Social media giant Facebook has reportedly severed ties with a public relations firm that allegedly linked its left wing critics to US billionaire George Soros. A story in the New York Times revealed that Facebook had employed Definers, a Republican PR firm, to discredit activist protestors, in part by linking them to Soros. The Open [...]
Dubai-based airline Emirates hit by 50 per cent profit drop as fuel costs bite November 15, 2018 Dubai-headquartered airline Emirates suffered its lowest half-year profit in a decade as it warned “the next six months will be tough". Emirates today said its profit plunged 53 per cent to 1.1bn United Arab Emirates dirhams (£240m) while revenue climbed 10 per cent to 54.4bn United Arab Emirates dirhams (£48.3bn). It said its results were [...]
