Gender is secondary at Walmsley’s GSK September 23, 2016 If the patient isn't responding, change the medicine: that's been the crude, but long-running, summary of some investors' prescription for Britain's biggest pharmaceuticals group. So for GlaxoSmithKline (GSK) investors, the least important aspect of Emma Walmsley's appointment as its next chief executive is her gender. That doesn't make it unimportant, of course: as the global [...]
What should Hammond do to ensure steady management of the public finances? Not very much. September 20, 2016 Quietly, and without fuss, the Treasury has revealed that the first budget of Theresa May’s government will be unveiled on 23rd November. The confirmation of the Autumn Statement date was made just under two weeks ago – the chances are, you didn’t even notice. The memo was a passive and reserved show of defiance. Earlier [...]
Neil Woodford-backed P2P lender RateSetter reports loss as it seeks sustainable future September 19, 2016 Peer-to-peer (P2P) lender RateSetter, which is backed by fund manager Neil Woodford, has reported a revenue rise of nearly 50 per cent to £18.5m in its 2015/16 accounts. The figures The company said the results, which reported a £4.9m pre-tax loss compared with a profit of £476,000 the year before, are in line with expectations set [...]
London backed to retain world-beating status as city for opportunity after Brexit September 7, 2016 London has retained its status as the world’s greatest city for opportunity, and will hold on to the top spot if it seizes the chances presented by Brexit, according to an in-depth study published this morning. For the second year running, London beat the likes of New York, Beijing, Singapore and Tokyo, to top a global [...]
What does the future hold for mutant equity crowdfunding? September 1, 2016 For the first time since the industry emerged in 2011, according to Beauhurst data, the number of successful equity crowdfunding campaigns fell in the first half of this year. It is therefore an appropriate moment to reassess what the sector’s future may look like. Equity crowdfunding platforms have a simple business model: they enable companies to raise [...]
Royal Bank of Canada bumps up dividend as income increases August 24, 2016 Royal Bank of Canada (RBC) has today announced a boost to its income, along with a slightly sweeter dividend for its third quarter of its financial year. RBC revealed net income of CA$2.9bn (£1.7bn) for the three months to the end of July, an increase of 17 per cent on CA$2.5bn the year before. Meanwhile, diluted earnings per share were reported [...]
Ryan Lochte endorsement earnings under threat as tarnished sponsors could ask for millions back August 20, 2016 American swimmer Ryan Lochte arrived in Rio de Janeiro with ambitions to return home with a fresh set of Olympic medals and a raised profile to help finalise a one final payday as his career enters its twilight. In the end he got two out of three. Lochte has come back to the United States with a sixth gold [...]
City Moves for 18 August 2016 | Who’s switching jobs August 18, 2016 Red Deer Red Deer, a new London-based fintech company, has appointed Stefano Vaccino as chief product officer and Henry Price as chief commercial officer. Stefano joins Red Deer from Algomi, where he was chief product officer and a member of the executive team. At Red Deer he will oversee product strategy and manage the entire development prioritisation process. Henry joins Red [...]
MoneySupermarket.com chief executive checks out on a high with profits jump August 3, 2016 Profits have leapt at price comparison website MoneySupermarket.com in the first half of the year, but shares dropped at the open as its chief executive announced his intention to step down from the company. The results Profits before tax came in at £47.1m in the first six months of the year for the website, up [...]
Financial watchdog to set deadline for PPI complaints before the end of June 2019 August 2, 2016 The financial regulator today said it was moving forward with proposals for a payment protection insurance (PPI) complaints deadline, as it looks to draw a line under the costliest financial scandal ever to hit the UK's banks. The Financial Conduct Authority (FCA) last year proposed a deadline of spring 2018, however today the watchdog said a deadline [...]