Hooray: Higher than average temperatures are coming to London this week February 20, 2017 February’s weather has been a bit all over the place to say the least – from heavy snow in northern parts of the country to Spring-like weather in London earlier on this week, which coincided with the Snow Moon. Londoners will be happy to know that today is the warmest day of the year so [...]
TP Icap told to go back to the drawing board by investors over executive pay plans February 19, 2017 TP Icap's investors have rebuffed an executive pay plan which could have lead to senior executives taking home tens of millions. The newly-merged broker's reward plans would have paid up to £85m in shares over a three-year period, although the scheme would have only started paying out once almost £400m in shareholder value had been made. Although [...]
Now German government officials are meeting with PSA and GM over Opel February 17, 2017 German government representatives have met with bosses at General Motors and Peugeot and called talks between the two carmakers over a potential takeover "advanced". The French company PSA has proposed a takeover of General Motors' European Opel operations, including Vauxhall. "I can confirm that there have been talks with GM and Peugeot", the spokeswoman for the German economy [...]
Boris Johnson just accused Tony Blair of insulting the intelligence of the electorate in his Brexit speech February 17, 2017 Never one to knowingly let an opportunity for a rant to pass him by, foreign secretary Boris Johnson has reacted angrily after Tony Blair called for Britons to "rise up" against Brexit. In an interview with Sky News, Boris – whose ministrations have, admittedly, become increasingly measured since he was appointed to his role after the [...]
First time buyers, close your eyes – in 1996, you could buy a house in Hackney for £75,000 February 17, 2017 House prices in the London borough of Hackney have rocketed 700 per cent in the last 20 years. It may seem hard to believe now, but in 1996 the average house price in Hackney was just £75,569. Now, the average price is £606,269 – a jump of 702 per cent. Read more: This tiny house [...]
Wolfgang Tillmans 2017 at Tate Modern review: a celebration of banality with little to give February 17, 2017 This collection of 14 years’ worth of work by Turner Prize-winning photographer Wolfgang Tillmans is a globetrotting celebration of banality, the output of an artist who long ago started believing his own hype. Pictures are scattered throughout the space, some metres high and framed, others postcard-sized and sellotaped to the wall, each one designed to [...]
As loss-making Snapchat sets its valuation at up to $22.2bn, would you have to be mad to invest in its IPO? February 17, 2017 Chris Beauchamp, a senior market analyst at IG, says Yes. As the latest tech IPO to come to market, Snap, the parent company of Snapchat, offers the usual combination of coolness, hype and dubious fundamentals. The IG grey market in Snap continues to suggest that the stock will see a pop on the first day [...]
Industry calls for corporate governance clampdown for private firms to avoid BHS-style scandals February 17, 2017 Business groups are urging the government to strengthen corporate governance rules for privately-run firms, or risk a repeat of high-profile scandals like last year's collapse of BHS. The UK's private companies are currently not held to the same set of standards as the country's listed companies. The Department for Business, Energy and Industrial Strategy is [...]
Business secretary Greg Clark heads for Paris talks with French government and PSA over possible GM deal February 16, 2017 Business secretary Greg Clark has travelled to Paris for talks with the French government and PSA over the french company's prospective takeover General Motors’ European Opel operations, including Vauxhall. Clark is to meet with French industry minister Christophe Sirigue and PSA just hours after Unite’s Len McCluskey said he was seeking “urgent talks” with PSA. The union leader [...]
Asset manager Fidelity urges ministers to get tough on executive pay committees February 16, 2017 Fidelity International wants ministers to back a proposal for boardroom pay committee chairs to be forced out if a large minority of shareholders do not back remuneration plans. The suggestion is included in the asset manager’s submission to the government’s consultation on corporate governance reform. Read more: Fund managers plan executive pay crackdown to avert government intervention [...]