After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
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 [...]
Moneysupermarket.com expects 10 per cent growth in revenues for first half of 2016 July 14, 2016 Price comparison website Moneysupermarket.com said it expects to report solid results for the six months to 30 June, with revenues set to rise by 10 per cent. The online firm is expecting revenue to hit £157.6m for the first half, £142.1m of which will come from the main Moneysupermarket website. Consumer advice site Moneysavingexpert, which was bought [...]
City Moves for 14 July 2016 | Who’s switching jobs July 14, 2016 Funding Circle Lending platform Funding Circle has appointed Jeremy Bennett as its new global chief financial officer. Jeremy has more than three decades of experience within financial services, working for Credit Suisse, before becoming CEO of Nomura in Europe, Middle East and Africa and CEO of Nomura International. During the financial crisis, he acted [...]
Austin Reed’s creditors set to shed large sums after high street retailer’s collapse July 10, 2016 Austin Reed's creditors face big losses due to the collapse of the high street store, accounts from the administrators have revealed. Documents filed in Companies House by the administrators for Austin Reed, Alix Partners, show the company's unsecured creditors will be given £600,000 between them after the collapse of the chain. Read more: Austin Reed employees found out [...]
Unintended consequences: Tinkering with Solvency II July 8, 2016 Tinkering with things is in the nature of regulators. Inevitably, however, well-intentioned tinkering often delivers unintended consequences. Today, the unintended consequences of tinkering are emerging in London’s international specialty insurance market, notably following Solvency II, which specifies the amount of capital that insurance companies must hold to reduce the risk of insolvency. While the impact of the EU referendum [...]