Mobile shopping platform Rezolve secures bumper deal with Samsung September 30, 2019 Mobile shopping platform Rezolve has secured a deal with Samsung to make its technology available on the South Korean firm’s smartphones. The London-based tech startup said its product will be embedded directly into Samsung’s Bixby Vision software and will be available in the US later this year. Read more: Samsung prepares to release new foldable [...]
Whitbread share price tumbles on Barclays downgrade September 30, 2019 Whitbread suffered a fall in its share price this morning after Barclays downgraded the UK’s biggest hospitality company. The Premier Inn owner’s share price has tumbled five per cent during trading today after its rating was cut by Barclays, which moved its recommendation from ‘Overweight’ to ‘Equal Weight’. Read more: Markets mixed on US-China trade [...]
Activist investors circling Metro Bank September 29, 2019 Activist investors are eyeing up Metro Bank after a failed bond offering and contemplating taking a stake or buying up parts of the business that could be profitable. Read more: Metro Bank shares plummet to record low after scrapping of bond issue US raider Elliott Advisors is one of a group of investors circling the [...]
Thomas Cook boss says ‘blame the lenders’ after holiday giant’s collapse September 29, 2019 The last ever boss of collapsed holiday giant Thomas Cook has laid the blame for the 178-year-old firm’s failure firmly at the door of its lenders. Former chief executive Peter Fankhauser said if bondholders and a syndicate of banks – including Barclays, Morgan Stanley, Lloyds and Royal Bank of Scotland – had taken action to [...]
Senior official for Brexit planning and head of the Border Delivery Group set to quit September 28, 2019 The director general for EU exit implementation is set to quit his role just weeks before the UK is due to leave the European Union. Matthew Coats will step down from his post as one of the UK’s most senior ranking officials for Brexit planning in the latest upheaval of the civil service, according to [...]
City Moves for 26 September – Who’s switching jobs at Aldermore, TORI Global and FDM Group? September 26, 2019 Today’s City Moves includes Aldermore, TORI Global and FDM Group. Aldermore Claire Cordell has been appointed chief financial officer (CFO) and an executive director of specialist bank Aldermore. Claire joined Aldermore in 2014 having oreviously held senior finance roles at RSA Insurance and Credit Suisse, and currently works as the company’s director of finance. Claire [...]
Are UK supermarkets ready for Brexit? September 25, 2019 “One can say very clearly what the direction will be: higher prices, less choice, and poorer quality, because all of those dimensions have been improved by these open trading relationships that we’ve had over the last 40 years […] Brexit, almost in whatever version it is, will introduce friction, it will introduce barriers. That makes [...]
Metro Bank shares crash to record low after it scraps £250m bond issue September 24, 2019 Shares in Metro Bank closed over 35 per cent down at a fresh record low after the lender cancelled a crucial £250m bond issue designed to bolster its balance sheets to meet regulatory demands. The challenger bank’s shares opened down as much as 17 per cent before trimming losses slightly, but then crashed again in [...]
Metro Bank share price sinks after investors snub £250m bond offering September 24, 2019 Metro Bank’s shares fell almost ten per cent in early trading after the struggling lender was forced to ditch a £250m bond offering yesterday after a lack of demand from investors. The challenger bank’s shares fell as much as 12 per cent in morning trading, but then trimmed its losses to 6.8 per cent. Read [...]
Thomas Cook collapse: Assets under the hammer as liquidators move in September 23, 2019 Collapsed airline Thomas Cook will be sold as a whole or in parts after it went into liquidation this morning, the firm’s second largest shareholder has said. Neset Kockar, boss of Turkish holiday group Anex Tour, owned a near-eight per cent stake in the travel giant when it went under. Read more: Tui share price soars [...]