Sirin Labs’ crazy £10k luxury super secure Solarin smartphone is about to launch in London April 25, 2016 A secretive startup backed by millions of dollars is about to launch a luxury smartphone promising ultimate privacy – and believes the UK is its target market. But anyone thinking of giving this new brand phone a whirl should get saving – it'll set you back around £10,000. The Israeli-founded but Switzerland-based Sirin Labs has unveiled plans for an imminent launch [...]
City Moves for 25 March 2016 | Who’s switching jobs April 25, 2016 FARMDROP Former Marks & Spencer head of logistics, Philip Eaves has joined online marketplace, Farmdrop as its first director of supply chain. The appointment coincides with a major product upgrade as the online marketplace launches one-hour slot, seven-day deliveries via its fleet of zero emission electric vans and Farmdroppers. Philip previously headed up logistical development [...]
Buyout firm Carlyle in talks with former Barclay’s CEO Bob Diamond for Africa arm bid April 24, 2016 Carlyle, the US buyout group, is in early stage talks with one of Bob Diamond’s investment vehicles over a bid for Barclays Africa. Diamond, who resigned as Barclays’ chief executive amid the Libor scandal, will use his New York-based investment vehicle, Atlas Merchant Capital, to jointly fundraise with Carlyle. Barclays announced last month it would [...]
Cross the arid Namibian desert on a self-driven safari April 22, 2016 It’s hard to imagine a landscape more dramatic than that of the largely uninhabited southern African desert nation Namibia. Dot its picturesque lands with a hefty assortment of big game and wildlife and you’ve got the right conditions for an epic holiday setting. A network of well-maintained (though often unpaved) roads means a visit to the [...]
Steel’s last stand: Government plans to attract bidders for Tata Steel’s UK operations with financial aid April 21, 2016 The government has announced a last-ditch package of rescue measures in a bid to attract potential buyers for Tata Steel's UK operations, including the Port Talbot steelworks. The plans, which amount to a “part-nationalisation” of the troubled steel industry, would see taxpayers take a 25 per cent stake in any rescue of Tata Steel’s [...]
Who’s next for a shareholder revolt? Weir’s pay packet policy looks like it could be next on the chopping block April 21, 2016 Weir could be the next big name to face the wrath of its investors, as a substantial group of shareholders look set to vote against boardroom pay plans. Weir is right to be worried – last week, BP chief executive Bob Dudley saw his $19.6m (£13.8m) pay shot down by shareholders, while early reports peg the number [...]
Martin Sorrell’s WPP leads marketing and communications global deals surge in first quarter of 2016 April 21, 2016 The value of deals activity in the marketing and communications sector grew by two-thirds in the first quarter of 2016. During the three months, 288 deals completed in the global market, up 32 per cent year on year, according to new research by Results International published today. The combined disclosed value of the deals was [...]
Here’s what to keep an eye on from European Central Bank (ECB) president Mario Draghi later today April 21, 2016 It’s decision time in Frankfurt once again. This afternoon, the European Central Bank (ECB) will announce its latest stance on interest rates and its bond-buying quantitative easing (QE) programme. It’s highly unlikely anything will change, but following last month’s awkward outing for president Mario Draghi, the style will arguably be more important than the substance. Here’s what [...]
Sky’s share price falls as churn rate picks up despite adding 177,000 new customers as it reports revenue growth April 21, 2016 Sky has reported strong growth for the third quarter as it experiences "good trading" across all its markets but its churn rate picked up, pushing its share price down over 4.4 per cent. The figures Sky reported revenues to have risen five per cent to £8.72bn over the nine months to the end of March. Operating [...]
AstraZeneca and HSBC chief executives next in line to face shareholder votes as report condemns boardroom pay practices as “broken” and “not fit for purpose” April 20, 2016 Boardroom pay practice is to be blasted as “not fit for purpose” tomorrow in an Investment Association report. It is published as AstraZeneca is the latest firm facing the prospect of a shareholder revolt over chief executive Pascal Soriot's £8.4m pay package. City A.M. has learned Royal London Asset Management (RLAM), which owns more than £500m, [...]