London Stock Exchange mulls £300m Covid rescue fund January 23, 2021 The London Stock Exchange is plotting a £300m listed investment vehicle aimed at offering much-needed support to companies hit hard by the pandemic. David Schwimmer, LSE chief executive, has led talks with top City figures and Treasury figures about establishing an investment trust that would list on the index. It is understood the vehicle, dubbed [...]
Two rail lines closed in 1960s to receive £800m investment boost January 23, 2021 Two railway lines closed to passengers more than 50 years ago will be brought back to life with almost £800m of funding from the government. East West Rail, which will eventually connect Oxford and Cambridge, has been granted £760m to reopen for the first time since 1968. Ministers have also pledged £34m to accelerate plans [...]
Morgan Stanley boss James Gorman pockets $33m pay packet January 23, 2021 Morgan Stanley will pay chief executive James Gorman $33m (£24m) as the US investment bank hailed a “record year” in 2020. The bumper pay packet is a 22 per cent increase on Gorman’s $27m remuneration in 2019, according to a regulatory filing published yesterday. Morgan Stanley directors said the decision was based on the firm’s [...]
Striking a chord: How music rights firms serenaded the stock market January 23, 2021 Anyone who has the misfortune to monitor news updates on the London Stock Exchange will know the name Hipgnosis. Less than a month into 2021, the gauchely-named company has already issued nine wordy announcements. They are not, however, the usual trading updates or dry regulatory disclosures. Instead, Hipgnosis has been on a relentless acquisition spree [...]
Ministers to discuss hotel quarantine for UK arrivals January 23, 2021 Travellers returning to the UK could be forced to spend 10 days in quarantine in a hotel under plans being drawn up by the government. Ministers will meet on Monday to discuss tightening rules at UK borders amid fears about new mutant strains of the virus, according to media reports. The hotels would be staffed [...]
Netflix pays £3.2m in UK corporation tax as it ramps up British-made shows January 22, 2021 Netflix pays £3.2m in UK corporation tax as it ramps up British-made shows
No Time to Die: James Bond film release pushed back for third time January 22, 2021 The release of the latest James Bond film has been pushed back for a third time as a result of the coronavirus pandemic. No Time to Die had already been pushed back twice, and will now not hit screens until 8 October, the film’s producers announced today. The Bond blockbuster was originally due to be [...]
Screenshot: Is it time for a music streaming reshuffle? January 22, 2021 This week **Media Moment of the Week: Elon Musk’s personal keyboard warrior **Music streaming royalties strike a bum note **The BBC screw turns again Media Moment of the Week Elon Musk is no stranger to social media spats. His indiscretions on Twitter have moved stock markets, led to a highly-publicised defamation suit and landed him [...]
Intel to probe results hack as chip demand lifts revenue January 22, 2021 Intel is investigating reports that financially sensitive information was stolen from its website last night in a hack that forced the chipmaker to release its quarterly results early. Chief financial officer George Davis told the Financial Times that a graphic in its financial report had been stolen by a hacker. “Once we became aware of [...]
Art Fund unveils new grants as museums fight for survival January 22, 2021 Creative charity Art Fund has announced a further tranche of emergency funding for UK museums amid concerns the latest lockdown could put venues out of business. The charity today said it was committing an extra £750,000 in grants, taking its total Covid-19 response fund to £2.25m. Recipients of the latest support include the Cinema Museum [...]
