Prosieben buys online dating site Eharmony October 29, 2018 German broadcaster Prosieben has acquired US online dating website Eharmony in the first major deal since it launched an e-commerce partnership with investment firm General Atlantic. The deal will complement Prosieben’s own dating site Parship Elite, which is the leading online matchmaking platform in Germany. Prosieben bought Eharmony through its Nucom division, which is 24.9 per cent [...]
Gordon Dadds agrees Ince merger to create UK’s largest listed law firm October 29, 2018 Gordon Dadds has agreed a merger with Ince to create the UK’s largest listed law firm. Following the merger, which was revealed by City AM last month, the firm will have a combined revenue of more than £110m, with 100 partners and offices in nine countries. The business, which will be renamed Ince Gordon Dadds, [...]
Sir Ken Olisa hires lawyers to sue Institute of Directors October 28, 2018 Sir Ken Olisa has threatened to sue the Institute of Directors (IoD) for defamation following his acrimonious resignation as deputy chairman earlier this year. Olisa, who is the first black Lord-Lieutenant of Greater London, intends to take legal action in a bid to clear his name over allegations that he was aware of racist statements made by [...]
Oil giants BP and Shell expect pumped up profits after barrel price rise October 28, 2018 Oil and gas giants Shell and BP are expected to report boosted profitability this week after oil prices breached $85 (£66.2) dollars per barrel in the third quarter. On Tuesday BP is expected to reveal a jump in profits from £2.82bn to an estimated £2.9bn according to S&P Capital IQ, while on Thursday Royal Dutch [...]
Arcadia concessions to be hit by Debenhams store cuts in latest blow to Sir Philip Green October 28, 2018 Hundreds of Arcadia concession stores are under threat after Debenhams revealed proposals to close 50 branches as part of a cost-cutting bid, in another blow for retail tycoon Sir Philip Green. It comes after Topshop boss Green was named in parliament by Lord Peter Hain as the businessman that blocked The Telegraph reporting on allegations of sexual harassment and [...]
Emerging market meltdown threatens UK financial system, says Financial Conduct Authority boss Andrew Bailey October 28, 2018 A meltdown in emerging markets could threaten the UK’s financial system, the head of the Financial Conduct Authority said. Andrew Bailey, chief executive of the City watchdog, warned that a crash in emerging economies with “debt-sustainability issues” is a risk as the post-crisis period of low interest rates concludes. The warning came as emerging market stocks fell for the [...]
Deutsche Boerse steps up clearing battle with London October 25, 2018 Deutsche Boerse has stepped up its challenge to the Square Mile by expanding its clearing house partnership, as rival cities bid to replace London as Europe’s financial capital after Brexit. The London Stock Exchange Group’s LCH is currently Europe’s hub for clearing euro-denominated derivatives – used by firms to balance risk – and has become [...]
Standard Chartered opposes animal testing as it tightens environmental policies October 25, 2018 Standard Chartered will no longer finance clients who test cosmetic products on animals, it said today as it announced a raft of tightened environmental and social policies. The emerging markets-focused bank will also avoid financing plantation or livestock ranches that degrade High Carbon Stock forests, peatlands or legally protected areas, or operations that grow, process [...]
Small firms must prepare for no-deal Brexit, City governing body warns October 25, 2018 Small firms must speed up plans for a no-deal Brexit, the Square Mile’s governing body has warned, as negotiations with the EU faltered with five months to go until Britain’s leave date. There is no guarantee that a withdrawal agreement will be reached, the City of London Corporation (CLC) said today, and small and medium [...]
Twitter shares soar on boosted revenue despite slump in active users as social media giant combats suspicious accounts October 25, 2018 Shares in Twitter soared today as the social media giant reported boosted revenues despite a slump in active users in the third quarter. Revenue for the period beat Wall Street expectations at $758m (£587.58m) – an increase of 29 per cent year-on-year – with advertising revenue totalling $650m, sending shares soaring by more than 15 per cent. However, [...]
