Asset management group Ashmore to open Ireland office ahead of Brexit September 7, 2018 Asset management firm Ashmore is establishing an Irish subsidiary as part of its Brexit contingency planning. The emerging markets investment manager, which is headquartered in London, will open the office in order to continue serving clients after Britain leaves the European Union. Read more: John Laing Group share price jumps amid profit surge The new [...]
City exec leaves CFO role to pursue career in music September 6, 2018 City executive Philip Keller is swapping the boardroom for the orchestra as he leaves his CFO role at Intermediate Capital Group (ICG) to pursue a passion for conducting. Keller will go back to university next year to train as an orchestra conductor after more than a decade at asset management firm ICG. Read more: City [...]
Luxury retailer Anine Bing closes $15m series A led by Felix Capital, Index Ventures and Greycroft Partners September 6, 2018 Luxury womenswear brand Anine Bing has closed a $15m series A financing round led by London-based venture capital firms Felix Capital and Index Ventures and LA's Greycroft Partners. The retailer plans to use the funding to double its business between 2019 and 2020, and has aggressively accelerated sales and traffic. Read more: Challenger banking app Monese lands $60m funding round Over the last [...]
Bitcoin takes fresh dive in two-day cryptocurrency crash September 6, 2018 The value of bitcoin has continued to slide today after a crash sparked by yesterday's rumours that Goldman Sachs has scrapped plans for a cryptocurrency trading desk. Bitcoin value slumped 15 per cent over two days to $6,405 (£4,950) after the investment bank reportedly cancelled plans to open the new desk. Read more: Goldman Sachs reportedly ditches [...]
UK equity funds out of favour due to Brexit as outflows hit £315m September 6, 2018 The UK is "firmly out of favour" with equity fund investors as outflows hit £315m in July. Outflows have totalled £3.5bn so far this year over ongoing Brexit uncertainty, data published by the Investment Association today shows. Read more: Sterling jumps on report Germany and UK could offer key Brexit concessions Funds in the UK were [...]
Retirement housebuilder McCarthy & Stone blames profits drop on government ground rent policy September 6, 2018 Retirement housebuilder McCarthy & Stone expects profits to slump amid a slowdown in the sector and uncertainty surrounding government policy. Read more: Largest UK housebuilder Barratt Developments hits record pre-tax profits The figures Operating profit for the year ended 31 August is expected to be between £65m and £73m, a drop from the 2017 figure of £96m, [...]
Bovis Homes shares up after profits boost in half year results September 6, 2018 Shares in Bovis Homes were up more than five per cent this morning after the housebuilder reported a strong first-half performance. Read more: Largest UK housebuilder Barratt Developments hits record pre-tax profits The figures Profit before tax jumped 41 per cent to £60.2m this year, up from £42.7m in the first half of 2017. The Kent-based company generated revenue of [...]
Ryanair pilots vote to back deal over working conditions September 6, 2018 Ryanair pilots in Ireland have voted to accept the airline's deal over working conditions. The agreement follows five days of industrial action by pilots represented by the trade union Forsa, and was proposed after 22 hours of talks. Read more: Ryanair shares take flight after trade union agreement Around 100 of the 350 Ryanair pilots based in [...]
Investment management firm Pimco hires ex-Blackstone vice chair John Studzinski September 5, 2018 US investment management firm Pimco has hired top deal maker John Studzinski to advise the company's most important clients. Former Blackstone vice-chairman Studzinski will be based in New York as managing director and vice chairman, reporting to chief executive Emmanuel Roman. Read more: Man Group poaches Sanlam Four's strategic bond fund and team Before joining Californian-headquartered Pimco, which was founded by [...]
