Metro Bank to revoke private jet access for new chair after year of turmoil March 1, 2020 Metro Bank will not allow its new leadership to take private jet flights, as it takes its reshuffle at the top as an opportunity to reduce costs. The previous arrangement for founder Vernon Hill to expense private jet flights to the company was “specific to him” and unlikely to be repeated, the Telegraph first reported. [...]
No sign of post-election bounce as private sector activity continues to flatline March 1, 2020 Activity in the private sector fell again in the quarter to February, new figures have shown. Research by the CBI published today demonstrated the 16th consecutive quarter of falling business volumes in the UK. However, it pointed to variation across different sectors and some cause for business optimism. The report, based on a survey of [...]
German car industry facing difficult times ahead March 1, 2020 The German car industry will face significant challenges over the coming months, according to a new report. The IFO Business Climate survey saw the demand index fall to minus 11.8 for February, down from minus 2.1 in January. The survey revealed a difficult picture across the industry with export expectations falling minus 15.4 in February [...]
City Pages: Behind the scenes at Facebook, the secret lives of extremists and a Silicon Valley memoir March 1, 2020 Facebook: The Inside Story by Steven Levy Review by Emily Nicolle In the past four years, Facebook founder Mark Zuckerberg’s world has been turned upside down. From a simple social media platform he created while studying at Harvard university first blossomed a networking supersite, that later became a regulatory and ethical data minefield which holds [...]
Whitehall looks to clamp down on business grant fraud March 1, 2020 Whitehall is planning a review into how business grants are awarded to combat fraudulent claims. The review is set to look at the way grants funding is awarded and the rising instances of “grant fraud”, which some estimate to be worth in excess of £2bn. The Department for Business, Energy and Industrial Strategy (BEIS) has [...]
Switzerland files criminal complaint over alleged use of crypto tech for US spying March 1, 2020 The Swiss government has filed a criminal complaint over the US Central Intelligence Agency (CIA) allegedly using a Swiss crypto company as a front to spy on foreign governments. The complaint is against unnamed persons for alleged breaches of the law governing export controls, Reuters reports. Swiss company Crypto AG was secretly owned by US [...]
Tuning in: Has the City undervalued the podcast craze? March 1, 2020 With podcasts steadily shoring up their position as a mainstay of the modern media landscape, canny distributors have been biding their time. But now Aim-listed podcast platform Audioboom seems ready to cash in on the booming popularity of on-demand listening. Last month the Nicky Candy-backed audio firm, which distributes podcasts including nerdy QI favourite No [...]
Bank of England three times passed press conference scandal company March 1, 2020 The Bank of England scrutinised a company three times before it was subsequently found to have provided early access to the Bank’s press conferences to paying clients. Threadneedle Street carried out diligence on Encoded Media three times between 2008 – when it first hired the firm as a technology partner – and 2019. Encoded’s status [...]
Sky closes in on bumper £300m Six Nations broadcasting deal March 1, 2020 Sky is said to be closing in on a £300m deal for the broadcast rights to the Six Nations in a controversial move that could wipe the rugby tournament from terrestrial TV. The tender process for the new broadcasting contract is set to close when this year’s tournament wraps up on 14 March, with Sky [...]
New John Lewis boss to launch strategic review March 1, 2020 Struggling department store chain John Lewis is expected to launch a strategic review in a bid to rescue the business as it announces its full-year results later this week. Former Ofcom boss Sharon White, who took over as chairman of John Lewis and Waitrose last month, and newly appointed strategy and commercial development director Nina [...]
