Apple set to break $100bn quarterly sales record as tech boom continues January 27, 2021 Apple’s bullish run shows no signs of slowing down, with the tech giant expected to join an exclusive club of companies to have earned revenue of more than $100bn (£730m) in a single quarter. Analysts have predicted quarterly revenue of $102.6bn for the iPhone maker, which would mark year-on-year growth of 12 per cent — [...]
Melvin Capital closes Gamestop short position amid Reddit feud January 27, 2021 The hedge fund targeted by Reddit investors Melvin Capital reportedly closed out its short position in Gamestop on Tuesday. The bricks-and-mortar retailer was targeted by an army of Reddit investors from the forum “Wall Street Bets” which boasts more than 2m subscribers. Manager of the fund Gabe Plotkin told CNBC it had closed out its [...]
EU opens up to US clearing houses in blow to City of London January 27, 2021 Brussels will allow US clearing houses operate throughout the EU in what could be a blow to the City of London’s largest clearing agencies. The European Commission announced today that it had decided that the US’ financial regulator’s rules was equivalent to the EU’s around clearing houses. This means the EU will now allow Wall [...]
City Moves for 27 January: Who is switching jobs in the Square Mile this week? January 27, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Lombard Odier IM bolsters institutional sales team Lombard Odier Investment Managers (LOIM) has bolstered its UK and Ireland institutional sales team with two new hires. Chris Vogtherr and Claudia Ziebart joined the investment [...]
Contactless payments could be raised to £100 following Brexit agreement January 27, 2021 The limit for contactless card payments could more than double under new proposals being considered by the regulator now the UK has left the EU. The limit for contactless payments was raised from £30 to £45 last April at the start of the pandemic but could not be raised further due to a limit [...]
Sadiq Khan accuses government of imposing ‘new era of austerity at worst possible time’ January 27, 2021 The Mayor of London has today warned that major cuts are inevitable unless the government adequately funds the capital. Khan has vowed to build a better city in the aftermath of the pandemic but argues that he is being forced to do so “with one arm tied behind my back”. Speaking at a Budget Plenary [...]
Boots owner WBA appoints former Amazon director as new CEO January 27, 2021 The owner of Boots will strengthen its team in March with the appointment of a business powerhouse as the new CEO and adding a new executive chairman to its board. Previously chief operating officer of Starbucks Rosalind Brewer will join Walgreens Boots Alliance (WBA) as chief executive officer. Brewer, a former Amazon director, was the [...]
Government to investigate Glencore over Chad wastewater spill January 27, 2021 The UK government will investigate a complaint against mining giant Glencore over a wastewater spill in Chad in 2018. According to three human rights groups, which brought the complaint, the FTSE 100 firm “failed to conduct appropriate environmental and human rights due diligence in relation to wastewater leaks and an alleged oil spill at the [...]
Mobile networks to tackle rural not-spots with mast building plan January 27, 2021 Mobile networks O2, Vodafone and Three are teaming up to build hundreds of new masts as part of a push to tackle so-called signal not-spots in rural areas. The companies will build and share 222 mobile masts in an effort to improve 4G coverage across the UK. In total 124 sites will be built in [...]
Fear, Anxiety, Doubt – FUD January 27, 2021 Crypto at a Glance Beware FUD! Last week’s barrage of mistruth reportedly claimed a major victim in software company NexTech AR Solutions, which sold off all 130 of its Bitcoins (worth roughly $4 million), citing reports of a possible “double spend” on the blockchain. The supposed double spend has now been shown to be nothing [...]
