UK corporate debt soars to all-time high after years of low interest rates July 2, 2018 The debt of the UK’s public listed companies (PLCs) has hit an all-time high after years of low interest rates and continued pressure to return money to shareholders. The Link Asset Services UK PLC debt monitor shows UK listed company debt of £390.7bn, up 69 per cent from the debt low point of 2010-11, an [...]
Stobart Group calls for shareholders to vote down former boss Tinkler’s director appointment July 2, 2018 The Stobart Group has called for its shareholders to vote down former chief executive officer (CEO) Andrew Tinkler’s proposal to become a director of the company. Stobart said today in a regulatory release that Tinkler had served notice on the company on 28 June that he intends to propose himself as a director at the [...]
Shire share price jumps after Takeda rebels defeated at annual general meeting June 28, 2018 Shire’s share price rose by more than two per cent this morning following the defeat today of a group of rebel investors at Japanese pharma giant Takeda’s annual general meeting. Read more: Takeda shareholder group aims to block $62bn Shire deal The group, who are trying to block Takeda’s forthcoming $62bn (£47.3bn) acquisition of Shire, [...]
Bank of England warns on cryptocurrency risks June 28, 2018 The head of the Prudential Regulatory Authority (PRA) Sam Woods wrote to chief executive officers (CEOs) of financial institutions today to warn of the risks of cryptocurrencies. The regulator, which is part of the Bank of England, warned that cryptocurrencies showed high price volatility and also raised concerns about vulnerability to fraud and manipulation as [...]
Banks to be subjected to ‘cyber stress tests’ to see if they could withstand a major hacking attack June 27, 2018 Financial services companies will be subject to “cyber stress tests” to establish if they could recover in the event of a major breach, the Bank of England said today. The bank is establishing new standards for how long a bank’s ability to deliver key services such as providing payments and insuring against and dispersing risk [...]
KPMG says audits for scandal-hit Malaysian 1MDB fund not ‘true and fair’ assessment June 26, 2018 Big four accountant KPMG has told under-fire Malaysian state fund 1MDB that its audits for three years do not provide an accurate picture and should not be relied upon. The fund is at the centre of a massive political and financial scandal and currently faces money laundering investigations in six countries including the US. It [...]
These are the top 10 best-paying companies in the UK June 26, 2018 Facebook has come top of a new list of the best-paying companies in the UK. New data from job site Glassdoor identified Facebook as the best-paying company in the UK on a list dominated by tech firms and banks. According to Glassdoor the median total compensation at Facebook is £90,000 with median base pay at [...]
Law firm Knights aims to raise £50m in largest-ever legal float June 26, 2018 Regional law firm Knights has said today it plans to raise £50m in its London float later this month in what will be the largest legal listing to date. The offer price has been set at 135p per ordinary share which will result in a market capitalisation of approximately £103.5m. The firm will received gross [...]
Wimbledon to serve up highlights packages using IBM artificial intelligence technology June 26, 2018 The Wimbledon tennis tournament, which starts next week, will use artificial intelligence (AI) technology to help compile its highlights packages this year. The All England Lawn Tennis Club and technology partner IBM said the Watson AI platform had been taught to recognise players’ emotions, which it would combine with an analysis of crowd noise, players’ [...]
Shareholders back Standard Life Aberdeen’s £2bn insurance business sell-off June 25, 2018 Standard Life Aberdeen shareholders overwhelmingly backed the £2bn sale of its insurance business to Phoenix today. At its general meeting today 99.26 per cent of voters backed the deal which will see Phoenix acquire Standard Life Assurance Limited (SLAL), the company’s insurance arm. Read more: Lloyds sells off last of its holding in Standard Life [...]
