Chinese currency transactions in London soar 30 per cent in second quarter September 26, 2018 Chinese currency transactions in London increased by more than 30 per cent this year, hitting £70bn in the second quarter. The capital retained its position as the largest renminbi (RMB) clearing centre outside of Greater China, according to a report by City of London Corporation and the People's Bank of China. Read more: China accuses US of [...]
Hollywood actor Ryan Reynolds partners with Richard Branson to stock gin brand on Virgin Atlantic September 25, 2018 A gin brand owned by Hollywood actor Ryan Reynolds will be stocked on Virgin Atlantic flights. Aviation Gin will not only be available at 35,000ft but will also be served in Virgin Atlantic Clubhouses. Read more: CYBG's £1.7bn takeover of Virgin Money approved by shareholders Londoners can get a taste of the spirit, which [...]
Gam investment director investigation sparked by whistleblower September 25, 2018 An investigation into former Gam Investments director Tim Haywood was sparked by concerns raised by a whistleblower. The Zurich-headquartered asset management firm launched an internal probe into Haywood's conduct in November last year, however the whistleblower went on to contact the Financial Conduct Authority four months later. Read more: Gam shares slide after Credit Suisse slash price target Haywood, [...]
Peso slides as Argentina’s central bank chief resigns September 25, 2018 The governor of Argentina's central bank has resigned amid the country's ongoing discussions with the International Monetary Fund (IMF), sending the peso tumbling. Luis Caputo stepped down for personal reasons, the bank said in a statement, after less than three months in the role and has been replaced by former economic policy secretary Guido Sandleris. [...]
Louis Dreyfus announces sudden exit of chief executive and head of finance September 25, 2018 Commodities giant Louis Dreyfus has announced the sudden resignation of both its chief executive and head of finance. Gonzalo Ramirez Martiarena has stepped down after three years as chief executive of the agricultural goods company in order to pursue other opportunities and will be replaced by chief strategy officer Ian McIntosh with immediate effect. Read [...]
UK private equity deals slump as Europe hits post-crisis high September 25, 2018 UK private equity deals slumped over the last three months while European buyouts hit a post-crisis high, according to new statistics. There were 46 buyouts of UK companies in the third quarter of this year, down on the previous three months, which was the most successful period for volume and value since 2007. Just €19bn (£17.01bn) of deals have been completed [...]
LSE Group appoints financial services veteran Marshall Bailey as LCH Group chairman September 25, 2018 London Stock Exchange Group has appointed financial services veteran Marshall Bailey as chairman of its clearing business LCH Group. The move, which is effective immediately, will see current LCH Group chairman Lex Hoogduin step down after three years in the role. Read more: Activist Hohn reduces stake in London Stock Exchange Group The business has become central to debates about the [...]
Michael Kors confirms $2bn Versace deal September 25, 2018 Michael Kors has acquired Italian luxury designer Versace for $2.12bn (£1.61bn), the US fashion brand confirmed today. Michael Kors Holdings will be renamed Capri Holdings, and Donatella Versace, sister of the late founder Gianni, will become a shareholder in the new company along with brother Santo Versace and daughter Allegra Versace. Read more: Fashion kingpin set to walk the runway with [...]
BBC weather forecaster Meteo Group acquired by Swiss private equity company TBG AG September 24, 2018 BBC weather forecaster Meteo Group has been bought by Swiss private equity company TBG AG. The agency has the largest private weather measurement network in Europe, and offers solutions for industries including shipping, transport, media, energy and insurance. Read more: Online retail to be Next's summertime saviour as hot weather boosts sales Year-to-date bookings grew by [...]
Nex Exchange to appoint Oliver Hemsley as CEO next year September 24, 2018 The founder of City stockbroker Numis Oliver Hemsley will take over as chief executive of Nex Exchange next year, the challenger stock exchange confirmed today. The investment is set to be completed by the second half of this financial year, and will see current chief executive Patrick Birley step down. Read more: Oliver Hemsley seals £20m deal to [...]
