Esure and Direct Line founder Sir Peter Wood to flog chunk of Gocompare stock to pursue property investment interests October 18, 2017 Sir Peter Wood, the insurance tycoon founder of Direct Line and Esure, today revealed plans to dump a multi-million slug of Gocompare shares on the market in order to fund his London and US property interests. In an after-market announcement, Wood said he will place 21.3m shares on the market. With Gocompare’s stock trading at [...]
Saudi Aramco refutes claims IPO to be shelved as the Investment Association objects to the bending of London listing rules October 15, 2017 Saudi Aramco has refuted reports that its planned float is set to be shelved. The group was addressing claims in the Financial Times over the weekend that the oil giant was considering shelving plans for an international listing in favour of a private share sale to the world’s biggest sovereign wealth funds and institutional investors. [...]
Prominent investor group the International Corporate Governance Network (ICGN) adds forceful objection to FCA’s Saudi Aramco listing plans October 12, 2017 A prominent investor group has strongly objected to controversial plans to allow sovereign companies such as Saudi Aramco lower transparency requirements to list in London, with a consultation by the City watchdog closing tomorrow. Under the plans put forward in July by the Financial Conduct Authority (FCA), state-owned companies such as Aramco will qualify for [...]
Fintechs can now apply for Financial Conduct Authority approval for accessing data from top banks as Open Banking moves a step closer October 12, 2017 Fintech startups are a step closer to getting their hands on customer data from some of the biggest high street banks in another move towards Open Banking. Firms wanting to take advantage of account information being made available under rules outlined by the competition authority last year can apply to the Financial Conduct Authority from [...]
Just Eat’s Hungryhouse takeover is nearly good to go as competition watchdog gives provisional clearance October 12, 2017 The competition watchdog has provisionally paved the way for Just Eat to gobble up Hungryhouse, saying the merger does not raise concerns. Shares in Just Eat rose nearly five per cent in morning trading as investors chewed over the good news. Just Eat paid £200m for Hungryhouse, which it bought from Delivery Hero, back in [...]
Electric shock – finding the winners and losers of the electric revolution October 11, 2017 The electric car – as a concept – is almost as old as the internal combustion engine (ICE). The first electric vehicle (EV) is credited, somewhat contentiously, to Scottish chemist Robert Anderson as far back as 1837. Thomas Edison is even rumoured to have explored a cheap electric car with Henry Ford as early as [...]
Wood Group completes £2.2bn takeover of Amec Foster Wheeler | City A.M. October 9, 2017 Wood Group has completed its merger with Amec Foster Wheeler, the FTSE-250-listed oilfield services firm announced today. The £2.2bn takeover had been held up by the Competition and Markets Authority, but the regulator waved the deal through in September after Amec Foster Wheeler agreed to sell some North Sea assets. The integration of the two [...]
Wood Group completes £2.2bn takeover of Amec Foster Wheeler October 9, 2017 Wood Group has completed its merger with Amec Foster Wheeler, the FTSE-250-listed oilfield services firm announced today. The £2.2bn takeover had been held up by the Competition and Markets Authority, but the regulator waved the deal through in September after Amec Foster Wheeler agreed to sell some North Sea assets. The integration of the two [...]
Monarch dethroned: Rival budget airlines’ shares take off as firm collapses and Greybull gets set to lose £170m October 3, 2017 Monarch collapsed into administration yesterday, affecting the journeys of 860,000 passengers in the largest UK airline failure in history. The failure of the Luton-based company led to transport secretary Chris Grayling ordering the “country’s biggest ever peacetime repatriation” to fly back 110,000 passengers stranded abroad. The rescue operation will cost around £60m, the Civil Aviation [...]
HSBC has an innovative new app, Beta, taking on challenger fintech startups and rivals ahead of Open Banking and PSD2 September 28, 2017 HSBC is seeking to get ahead of rivals and fend off growing challengers with the launch of a new banking app. The banking giant will play up its position as a trusted high street bank and make the most of millions of customers with the roll out of the financial management app Beta. Read more: [...]