Poundland-owner Pepco’s boss says sale ‘almost inevitable’ February 5, 2020 The chief executive of Poundland-owner Pepco Group said it is “almost inevitable” the company will be sold, as the retailer updated the market on its strong Christmas trading last year. Pepco Group boss Andy Bond said it is likely that its owner Steinhoff will sell the firm, adding he is “genuinely open minded” on the [...]
Cyber firm Callsign set to unveil bumper JP Morgan backing February 4, 2020 London-based identity fraud firm Callsign is said to be on the verge of unveiling fresh funding worth tens of millions of dollars from Wall Street giant JP Morgan. Callsign, which uses AI to verify the identity of users, is signing off on a deal with JP Morgan Asset Management, which manages $2 trillion (£1.5 trillion) [...]
Government’s AI adviser calls for crackdown on social media targeting February 4, 2020 Social media users are being left in the dark about the way major platforms target information at them, the government’s artificial intelligence (AI) adviser has warned. A report published today by the Centre for Data Ethics and Innovation (CDEI) called for tighter regulation of online targeting systems, which use personal information about users to decide [...]
Advent International teams up with rival private equity firms to plot takeover of Pepco February 3, 2020 Private equity firm Advent International is reported to be working with Hellman & Friedman and Mid Europa Partners on a bid for Pepco Group. A takeover could value Pepco at more than €4.5bn (£3.8bn), Sky News reported. Steinhoff International is looking to sell Pepco, which includes retailer Poundland. Advent offloaded Poundland to Warburg Pincus for [...]
Recording shows Iran immediately knew it had shot down plane, says Ukrainian president February 3, 2020 A leaked audio recording of a pilot talking to Tehran’s control tower shows that Iran immediately knew it had shot down a Ukranian airliner last month, Ukranian President Volodymyr Zelenskiy said. On a leaked recording played on Ukranian television late yesterday, the pilot of another plane can be heard saying he saw “the light of [...]
Johnson says Australian model on the cards for UK–EU trade deal February 2, 2020 Boris Johnson will today fire the starting gun on trade negotiations with the European Union, with the government floating the idea of a looser Australian-style deal if a more comprehensive arrangement cannot be agreed. In a speech today the prime minister will say the UK is aiming to negotiate a Canada-style free trade deal, “but [...]
Nissan plans to increase UK market share in Brexit contingency plan February 2, 2020 Nissan has drawn up a contingency plan to pull out of Europe if Brexit leads to tariffs on car exports, but will double down on the UK. The Financial Times reported that according to two people involved in the plan, drawn up last year, Nissan would close its Barcelona van facility and stop manufacturing in [...]
Sky urges Ofcom to take action against public service broadcasters February 2, 2020 Sky has urged the broadcasting regulator to take action against ITV and Channel 5, saying the channels benefit from too much “government support”. Ofcom, the communications regulator, allows public service broadcasters – the BBC, ITV, Channel 4 and Channel 5 – certain benefits in return for them making programmes that benefit the public. However, paid-for [...]
Report to slam FTSE boards as ‘complacent’ on ethnic diversity goal February 2, 2020 Britain’s biggest public companies will this week be accused of complacency over a target to appoint a non-white director by the end of 2021. The Parker Review, led by City grandee Sir John Parker, outlined the target in 2016. In a progress report set to be published on Tuesday, Parker will slam FTSE firms for [...]
New RBS boss Alison Rose to be based solely in London February 2, 2020 New Royal Bank of Scotland chief executive Alison Rose is to be based solely in London, even though the state-owned lender is headquartered in Edinburgh. Rose’s employment contrast lists RBS’s office on Bishopsgate as her sole place of work, the Sunday Times reported. Her predecessor, Ross McEwan, had a contract for London and Edinburgh. Rose, [...]