Bet your bottom dollar: UK bookies are up after a US court ruling slapped down PASPA May 14, 2018 Shares in the UK’s gambling firms are soaring after a US court ruling struck down a decades-long restriction on sports betting. The US Supreme Court today ruled in favour of the state of New Jersey, effectively killing the Professional and Amateur Sports Protection Act (PASPA). US states can now establish their own regulated sports betting, [...]
Carillion hid true level of debt and used late payment to prop up its ‘failing’ business say MPs May 14, 2018 Collapsed outsourcer Carillion hid its debt and used late payment to its suppliers to prop up its balance sheet, MPs have said today. Ahead of the launch of the final report into Carillion’s collapse on Wednesday, the work and pensions and business, energy & industrial strategy (BEIS) committees are today publishing evidence from bank Santander [...]
Property of the Week: Isle House in the Docklands is a detached period home with gardens and rivers views – but you can walk to work May 11, 2018 Anyone house hunting around Canary Wharf won’t find many, well, houses. Residences within walking distance of the financial district tend to be sky-high apartments nestled in shiny glass towers. That’s what makes this detached, Grade II Listed house in Coldharbour such a rarity. With its own gardens backing on to the Thames, it’s closer to [...]
Avast software business cuts its IPO price as it floats at £2.4bn May 10, 2018 Software firm Avast this morning confirmed it has set the price for its London initial public offering (IPO) at 250p per share – the bottom of its original guidance range. Avast initially guided that it could float for between 250p and 320p per share, which would have given it a maximum market value of more [...]
Oliver Holbourn, the head of UKFI which manages the government’s stake in RBS, is set to join the bank as head of strategy May 5, 2018 Royal Bank of Scotland (RBS) is set to get a new head of strategy, as it recruits the man who has spend the last several years managing the government’s stake in the bank. Oliver Holbourn, who was formerly chief executive of UK Financial Investments (UKFI), is in talks with RBS about taking the senior role, [...]
Local elections 2018 results live: Conservatives fend off Labour in London but Jeremy Corbyn makes gains elsewhere as Ukip collapses May 4, 2018 The Conservatives have maintained their control of Wandsworth, Westminster and Kensington & Chelsea councils, three of the main battle grounds in the local elections, marking a significant defeat for Labour. The Tories have also won control of Barnet, which had no overall control previously. Hillingdon, another council that had been in Labour’s sights, stayed blue. Jeremy [...]
Giro d’Italia 2018: Could a Comcast takeover spell the end for Team Sky’s sponsorship? May 4, 2018 This Friday, Chris Froome embarks on his mission to win the Giro d’Italia and achieve his third successive Grand Tour victory with Team Sky, majority owned by Sky Plc. Sky Plc, meanwhile, is in the middle of a bidding war between owner 21st Century Fox and Comcast with a takeover seemingly imminent for a reported [...]
As Instagram launches a dedicated @design channel, London designers and crafters talk about the platform’s vast influence May 3, 2018 We speak to five designers and crafters about how the social media platform has changed the way they do business and influenced their work Jono Smart Jono Smart @jonosmart, 84.5k followers Instagram is part of daily life, for sure. I joined when I started my studio three years ago. I wasn’t a full time potter [...]
Wizz Air’s Brexit contingency plans take off as it secures UK licence May 3, 2018 Wizz Air today confirmed it has been granted a UK air operator’s certificate and operating licence to safeguard its flights post-Brexit. The Hungarian airline said it has always been committed to the UK and its continued expansion will mean more investment and jobs in the UK as it looks to consolidate its position further. Last [...]
Inmarsat slammed by Royal London as shareholders revolt over sky-high exec pay packets May 2, 2018 Exec pay at UK satellite firm Inmarsat has been slammed for being “too closely geared towards short-term awards” as shareholders today revolted and voted down multi-million awards to the firm’s top brass. Some 58.49 per cent voted against Inmarsat’s remuneration report at its annual general meeting (AGM). Chief executive Rupert Pearce took over £1.9m in [...]