Adventure time: Why every explorer wears a mechanical wrist watch March 2, 2020 There’s an old motoring adage that goes, “win on Sunday, sell on Monday.” In other words, as cripplingly expensive and vainglorious as motorsport can be, prove yourself successful on a race weekend (not to mention thrillingly glamorous) and you have no better billboard for the sporty road-goers populating your forecourt. It’s why Enzo Ferrari begrudgingly [...]
Coronavirus live: OECD warning weighs down FTSE 100 recovery March 2, 2020 The OECD’s warning that the coronavirus outbreak could halve global growth in 2020 weighed down the FTSE 100 today, sending it back into the red before recovering marginally. Traders had initially sent London’s blue-chip index up 2.7 per cent this morning on the back of central banks saying they were ready to intervene to protest [...]
Goldman Sachs and Citigroup halt foreign business trips over coronavirus March 2, 2020 US banking giants Goldman Sachs and Citigroup have expanded their restrictions on business trips by staff in response to the coronavirus epidemic. Citigroup’s restrictions will now cover all international business trips “until further notice”, the bank said. Previously, it had only restricted travel to a select number of countries that had reported outbreaks of the [...]
Streaming firm Dazn looks to shake up sports market with UK launch March 2, 2020 Streaming platform Dazn is set to expand to more than 200 countries, including the UK, as it looks to break the stranglehold of traditional broadcasters over sports rights. London-based Dazn, dubbed the “Netflix of sports”, currently operates in nine countries but has yet to break into the UK market, which is dominated by Sky and [...]
Deal-makers bullish on M&A prospects for the year March 2, 2020 Deal-makers are more bullish about prospects for M&A and capital raising this year than they were at the start of 2019. According to figures from Refinitiv, 47 per cent of deal-makers anticipate M&A volume growth, with an average predicted growth of 4.7 per cent. Asian dealers are more bullish than their American and EMEA counterparts, [...]
Chancellor Rishi Sunak tells EU: Stick to June timeline for City equivalence decision March 2, 2020 UK chancellor Rishi Sunak has told the European Union to stick to a June deadline to work out which parts of Britain’s financial system will be deemed equivalent after Brexit. British banks, trading platforms and insurers are hoping to be granted access to EU markets under a so-called equivalence system, under which the bloc would [...]
Possible lifeline for Sirius as shareholder Jupiter backs Anglo American deal March 2, 2020 Embattled Sirius Minerals could be saved as a key investor pledged to back the controversial Anglo American rescue deal a day before shareholders vote. Jupiter Fund Management, which has a 7.8 per cent stake in the troubled project, will tomorrow back the £405m deal, according to Sky News. Last month the boss of Sirius urging [...]
US manufacturing sector slows as coronavirus looms March 2, 2020 The US manufacturing sector slowed in February, a survey has shown, as new orders fell and coronavirus hung over factories. The Institute for Supply Management (ISM)’s index of factory activity fell to 50.1 last month from 50.9 in January. The reading was below expectations and only just above the 50 figure that denotes expansion. “Demand [...]
Jack ‘Neutron’ Welch, chief executive of General Electric, dies age 84 March 2, 2020 Jack Welch, the architect of General Electric’s (GE) rise to becoming at one time the most valuable company in the US, has died aged 84, the firm has announced. Over the course of his two decades as chief executive of the industrial giant, Welch grew the firm’s market value from $12bn to $410bn, expanding General [...]
Twitter shares jump as Elliott makes move to oust founder Jack Dorsey March 2, 2020 Shares in Twitter rose more than eight per cent in early trading in New York this afternoon after it emerged an activist investor has launched a bid to oust founder Jack Dorsey. Elliott Management has built up a stake in the social media firm and has nominated four directors to its board. The New York-based [...]
