Barclay brothers receive offers over £1bn for Ritz Hotel March 4, 2020 Sir Frederick Barclay, the billionaire co-owner of the Ritz, has received bids for the 114-year-old hotel exceeding £1bn, according to reports. Press Association said that Frederick Barclay, who owns the Mayfair hotel with his brother David, will not accept a lower offer. The twin brothers, who bought the Grade II listed property for £75m in [...]
Worst investment return in history? Bloomberg bows out of Presidential race March 4, 2020 Billionaire Michael Bloomberg has suspended his presidential campaign after spending more than $500m on advertisements. Bloomberg, one of the world’s richest men, dropped out after failing to win any of the key Super Tuesday Democratic primary states yesterday. He did, however, claim victory in the territory of American Samoa. Instead, it was former Vice President [...]
Volkswagen signs three year electric vehicle home charging partnership with Centrica March 4, 2020 Volkswagen has agreed a three-year partnership with energy supplier Centrica to roll out electric vehicle home charging hardware across the UK. The deal comes after Volkswagen’s commitment to introduce 80 electric and plug-in hybrid models by 2025, with estimated sales of up to 3m a year by that date. In the summer the firm will [...]
PM backs Priti Patel following fresh allegations March 4, 2020 Prime Minister Boris Johnson has said he is “sticking by” home secretary Priti Patel, in the wake of fresh allegations of bullying. Speaking during Prime Minister’s Questions today, Johnson said any claims would “of course” be investigated. But he praised Patel as an “outstanding” home secretary who was “delivering change”. She is currently facing the [...]
Virgin Atlantic CEO takes 20 per cent pay cut on coronavirus fears March 4, 2020 Virgin Atlantic chief executive Shai Weiss will take a 20 per cent pay cut between April and June as the world’s airlines continue to be battered by the coronavirus outbreak. The rest of the executive team have agreed to a 15 per cent decrease as the Sir Richard Branson-backed airline battles the slump in demand [...]
Deloitte London employee tests positive for coronavirus March 4, 2020 Deloitte London employee tests positive for coronavirus
FCA admits seven funds breached ‘trash ratio’ March 4, 2020 The Financial Conduct Authority (FCA) has revealed the extent to which UK fund managers breached European rules designed to limit liquidity issues behind high-profile scandals. Regulators across Europe have scrutinised how closely fund managers adhere to Ucits fund rules that limit holdings in unquoted securities to 10 per cent of their portfolio. Responding to a [...]
Londoners can step it up to tackle the homelessness crisis March 4, 2020 Sleeping on a cold, wet pavement is not a fate anyone should have to face in the fifth wealthiest country in the world. And yet, 4,266 of our fellow citizens were recorded doing just that on a given night last autumn, according to government figures published last Thursday. Each person counted is living through the [...]
Linklaters cancels annual partner conference as coronavirus hits Europe March 4, 2020 Magic Circle law firm Linklaters has cancelled its annual partner conference in Berlin due to the spread of the coronavirus through Europe. A spokesperson for the firm said today that the annual gathering its 480 partners scheduled for the end of April would now be held virtually. “We have cancelled our annual partner meeting in [...]
Ant Financial takes minority stake in fintech unicorn Klarna March 4, 2020 The highest valued fintech company in the world, Ant Financial, has taken a minority stake in payments platform Klarna. The “buy now pay later” specialist confirmed that Alipay owner Ant Financial had bought a less than one per cent stake, but refused to disclose how much it is worth. Ant Financial is part of the [...]
