Comparethemarket owner prepares for listing that could value the company at over £2bn July 10, 2016 The owner of comparison site Comparethemarket is exploring a listing that could value to company at more than £2bn. An exact date for the listing has not been confirmed, but it is thought to be taking place in the first quarter of 2017. Read more: Cost of average car insurance soars to record high BGL group, the online financial [...]
London sponsorship firm Sports Revolution signed up for Real Madrid and Barcelona basketball league July 8, 2016 London-based digital marketing agency Sports Revolution has expanded its international operations after agreeing a partnership with Euroleague, the pan-European basketball league. Sports Revolution will be responsible for implementing the sponsorship from Greek food brand Chipita which is sold over Euroleague's key markets including Russia, Greece,Turkey and Serbia where crowds over 20,000 people watch games live. Football clubs [...]
Uber Technologies has raised $1.15bn from a high-yield loan July 8, 2016 Uber Technologies has raised over a billion dollars to add to its arsenal in its bid to extend its operations across the world. The taxi-hailing app has finalised a $1.15bn (£889m) high-yield loan. The unleveraged loan, which is Uber's first, takes the total amount raised in debt and equity to more than $15bn and helps its [...]
New Women’s Business Council chief Cilla Snowball says more needs to be done for female empowerment in UK firms July 8, 2016 Female representation on FTSE100 boards has risen from 12.5 per cent to 26 per cent in a year according to a report released yesterday. The latest Female FTSE Board Report by Cranfield University, City University London and Queen Mary University London also shows that, overall, the percentage of women on all FTSE boards has increased since [...]
Brexit vote prompts hiring freeze and unemployment fears July 8, 2016 Hiring has crashed in the weeks after the referendum according to two separate studies of employers, raising fears unemployment could be set to rise over the summer. The closely-watched jobs report from the recruitment and employment confederation recorded the first fall in permanent hiring for four years in June as firms refused to take on [...]
Brexit vote pushes confidence down at fastest pace in two decades July 8, 2016 One of the most closely-watched barometers of consumer confidence has suffered its sharpest monthly decline in more than two decades as the Brexit shock kicks in and households prepare to tighten the purse strings. The GfK consumer confidence index sank further into negative territory – scores which indicate more people feel the economy will get worse than better – between June [...]
The former boss of Barings Bank has said he cannot recall Andrea Leadsom, despite the energy minister claiming to have played a central role in the aftermath of its collapse July 7, 2016 The former chief executive of Barings Bank has questioned Tory leadership contender Andrea Leadsom's claims of working at the centre of attempts to halt a financial crisis in the aftermath of the bank's collapse. Leadsom, who will face home secretary Theresa May in a battle to become the next Prime Minister, has regularly referred to her [...]
Barclays, Clydesdale, HSBC, Lloyds, Santander and Nationwide Building Society all downgraded by Standard & Poor’s over Brexit fears July 7, 2016 Six UK banks have been downgraded by Standard & Poor's (S&P) over concerns about risks arising out of the recent vote to leave the EU. Barclays, Clydesdale, HSBC, Lloyds, Santander UK and Nationwide Building Society have all seen their outlooks revised to negative by the ratings agency. S&P also revised its outlook on the Royal Bank of Scotland [...]
Four ex-Barclays bankers sentenced for roles in Libor rate-rigging scandal July 7, 2016 Four ex-Barclays bankers have today been given prison sentences totalling 17 years between them for their roles in the Libor-rigging scandal. Former bankers Jay Merchant, 45, Alex Pabon, 38, and Jonathan Mathew, 35, were sentenced to six and a half years, two years and nine months and four years respectively after having been found guilty of conspiracy to defraud. [...]
Energy minister Andrea Leadsom has vowed to banish pessimism as questions continue over her time in the City July 7, 2016 Supporters of energy minister Andrea Leadsom have staged a march on parliament after the energy minister promised to “banish the pessimists” on Brexit. Leadsom backers walked for half a mile between her speech at Millbank Tower and Houses of Parliament. Along the way, they chanted in support of the energy minister. https://twitter.com/jimwaterson/status/750979473277943808 https://twitter.com/MichaelPDeacon/status/750977498998079488 The march came [...]