Hong Kong media tycoon denied bail in landmark security law case February 23, 2021 A Hong Kong court denied media tycoon Jimmy Lai bail on Tuesday due to the risk of him committing further offences. The case is being closely watched as it shows how Hong Kong’s independent judiciary resolves conflicts between the security law drafted in Beijing. Guilty until proven innocent New legislation puts the duty on the [...]
Crypto selloff sends Bitcoin tumbling below $50,000 February 23, 2021 Bitcoin tumbled this morning as investors ditched cryptocurrencies amid nervousness over sky-high valuations. Bitcoin suffered its biggest daily drop in a month to fall as low as $45,000 before recovering to just over $48,500. Ethereum is also down more than 18 per cent to $1,512. It follows Monday’s crash which saw Bitcoin plunge from $58,000 [...]
Phoenix Group buys Standard Life name February 23, 2021 Standard Life Aberdeen has sold the historic Standard Life name to insurance group Phoenix for an undisclosed sum. The firms have agreed Phoenix will buy the Standard Life name over the course of the year, in what both parties claim is a “simplification” of the partnership. Employees who work on the Standard Life brand are [...]
HSBC results: Shift to Asia, office space slashed, dividend returns February 23, 2021 HSBC today said it plans to nearly halve its office space globally as part of a radical overhaul that will see the lender shift its focus to Asia. The bank will pump roughly $6bn (£4.3bn) into the region over the next five years, focusing mainly on its wealth management business in greater China as well [...]
G4S backs auction winner Allied Universal in £3.8bn takeover bid, as Gardaworld bows out February 23, 2021 Private security and outsourcing firm G4S this morning recommended shareholders to vote for Allied Universal's final offer valuing it at £3.8bn, a day after a rare auction battle with Canada's GardaWorld.
Mercedes-AMG A45 S review: the hottest hatchback February 23, 2021 The 421hp Mercedes-AMG A45 S is a five-door hatchback that outpaces some supercars. Tim Pitt spends a week driving it.
Saudi prince to sell £195m stake in London skyscraper February 23, 2021 A Saudi prince is close to selling his stake in a City skyscraper to an American investor for around £195m. Prince Abdul Aziz bin Fahd owns 25 per cent of Salesforce Tower in Bishopsgate. The tower has attracted interest from New York-based investment firm Madison International Realty. The 46-storey tower took four years to complete [...]
Cruise liner firm Carnival plans $1bn stock sale to stay afloat February 23, 2021 Cruise operator Carnival today announced that it would sell $1bn (£700m) worth of its stock through a public offering. The firm said that it would place 40.5m shares at $25.10 per share, a slight discount on yesterday’s closing price of $25.97. The offering, which is being run by Goldman Sachs, closes tomorrow. Carnival said that [...]
Facebook reverses Australia news ban after law changes February 23, 2021 Facebook has backed down in its feud with Australia after negotiating changes to a new law that will force tech firms to pay publishers for news. The social media giant last week blocked access to news in the country in protest at the upcoming legislation, drawing widespread criticism. But following talks between the government and [...]
Holiday Inn owner IHG swings to annual loss as Covid takes hold February 23, 2021 InterContinental Hotels Group declared 2020 as the most challenging year in its history on Tuesday as the company slumped to an annual loss. IHG, whose brands include the Crowne Plaza, Regent and Hualuxe hotel chains, reported a group operating loss of $153m for the year ending 31 December. This compares with a profit of $630m [...]
