The City’s towers rise up from ancient streets, and the contrast is sublime April 12, 2019 We can become desensitised to the rich history and incredible architectural tapestry that makes the City what it is. We can shuffle from Tube station to office to restaurant and home again, all without stopping as often as we should to take note of our surroundings and consider our immense good fortune that we work [...]
Melrose chief executive defends plans to close GKN factory near Birmingham April 11, 2019 The buyer of engineering group GKN has defended its plans to close one of the firm’s factories after MPs complained they undermine commitments made during the takeover process. Melrose chief executive Simon Peckham wrote to Rachel Reeves, who chairs the Business, Energy and Industrial Strategy Select Committee, saying his firm had “complied with both the [...]
New York budget carrier JetBlue to make London its first-ever European destination with flights from 2021 April 11, 2019 New York's flag carrier JetBlue will make London its first European destination when it offers flights to the city from 2021, the low-cost airline announced today. JetBlue, which is also Boston's largest airline, said the new routes to London will be served by Airbus A321LR and will mark the first-ever transatlantic service offered by the [...]
Nouriel Roubini interview (Part II): ‘Most crypto people are totally clueless’ April 11, 2019 When Nouriel Roubini talks, it’s worth a listen. Not known for his optimism, the well-known American economist bears the moniker ‘Dr Doom’. CFA Institute spoke to him about the prospects for global growth (see Part I). In Part II, we focus on cryptocurrencies. CFA Institute: Bitcoin and cryptocurrencies grew out of distrust for central bankers. [...]
European Council president Donald Tusk warns UK ‘not to waste’ Halloween Brexit extension April 11, 2019 European Council president Donald Tusk has warned the UK “not to waste” the extra time to find a way forward with Brexit after the EU agreed to extend Article 50 to Halloween. “Please don’t waste this time,” Tusk told a news conference following eight hours of EU leaders’ talks which culminated in a delay until [...]
Permira prepares to appoint bankers to oversee sale or US IPO of British footwear brand Dr Martens April 10, 2019 Private equity firm Permira is planning a sale or US flotation of iconic British footwear brand Dr Martens. Permira, which bought Dr Martens for £300m in 2014, is preparing to hire bankers to review potential options for the company, Sky News reported. Read more: Rathbones and Tilney owner Permira sniff around Speirs & Jeffery Bankers [...]
Topshop billionaire Sir Philip Green slammed over potential pensions row as US investor backs out April 10, 2019 Sir Philip Green’s troubles escalated this morning as an influential parliamentary chair hit out at the billionaire tycoon and news emerged of a top US backer pulling out of his retail empire. The Topshop owner has been accused of being up to “old tricks again” by Frank Field, chair of the Work and Pensions Select [...]
AT&T denies reports it is exploring sale of Game of Thrones producer HBO Europe April 10, 2019 US telecoms giant AT&T has denied reports it is exploring the sale of HBO’s European division in a bid to slash its $170bn (£130bn) debt pile. A Financial Times report stated executives have held internal discussions over the possible sale of HBO Europe, which produces hit TV series Game of Thrones, but have not yet held meetings with potential [...]
British American Tobacco calls in headhunters as chairman prepares to step down April 9, 2019 The chairman of British American Tobacco (BAT) is set to step down as changes to financial regulations mean he can no longer serve on the board. Richard Burrows, who has chaired the firm since 2009, is the latest victim of new City rules meaning directors can no longer be considered independent after nine years. Read [...]
Solarcentury closes in on potential sale worth up to £250m April 8, 2019 Solarcentury, one of the world’s biggest solar power firms, has appointed investment bank Evercore to oversee a potential sale worth as much as £250m. A source close to the firm confirmed this afternoon it was looking at potential buyers this week, with a view to a transaction later in 2019. Read more: Lightsource BP expands [...]