Standard Chartered would do better being more upfront December 16, 2013 BEFORE and during the financial crisis, which rocked so many banks to their foundations, Standard Chartered could seemingly do nothing wrong. While their rivals dodged in and around write-downs, rescue rights issues and increased impairment charges, the stock of both chief executive Peter Sands and his ebullient finance director Richard Meddings rose sky-high. So highly [...]
Aldermore raises another £40m ahead of expected London float December 16, 2013 CHALLENGER bank Aldermore yesterday sold a £40m stake to two hedge funds, worth roughly nine per cent of the lender. Lansdowne Partners paid £10m, valuing its stake at around two per cent. The fund is a major investor in the financial services sector, with around $10bn (£6.1bn) in assets under management. Meanwhile Sky News reported another [...]
What the other papers say this morning – 13 December 2013 December 12, 2013 FINANCIAL TIMES Bitcoin start-up fundraises $25m A Silicon Valley company that allows speculators and merchants to trade Bitcoin has raised $25m (£15.3m) in venture capital funding in the largest investment so far in a virtual currency business. As a result of the deal, San Francisco-based Coinbase will have two of the most prominent venture capitalists [...]
5 revolutionary technologies that will change the world forever December 10, 2013 Many of today's leading intellectuals tell us the days of discovery are over and the best we can hope for are incremental improvements. Here is just a small sample of what the world is offering that may make them think twice: In vitro meat In 2013, stem cells were taken from a cow and grown [...]
We must not ignore the economic evidence on immigration’s benefits December 10, 2013 CONCERNS about immigration continue to gather strength. A recent poll by Survation for Sky News found that 67 per cent think the coalition’s attempt to reduce net migration to 100,000 per year does not go far enough. More than a quarter feel that immigration in the last decade brought no positive benefit to the UK. [...]
Sir Stuart Rose hits out at UK work culture December 8, 2013 OCADO chair Sir Stuart Rose yesterday hit out at people who complain immigrants are taking too many UK jobs, saying they should stop complaining and accept any work on offer. “I believe that if I was out of work tomorrow morning that I could find a job by tomorrow afternoon and it is up to [...]
Cath Kidston to float at £250m in new year December 6, 2013 Cath Kidston is to be put on the market for more than £250m next year, reports Sky News' City editor, Mark Kleinman. The successful retailer, known for its floral, spotty and generally colourful homeware, is considering a new year sale that could see its eponymous founder net at least £50m. The store has confirmed that [...]
Firstgroup set to appoint new chairman December 5, 2013 FIRSTGROUP is set to hire Aviva chairman John McFarlane to take the same role at the transport group, replacing Martin Gilbert. FirstGroup is expected to make an announcement today, according to Sky News. Gilbert said he would step down following First’s fundraising in May. He’s been at the firm since its 1995 foundation.
Blockbuster shutdown sees 1,200 jobs axed December 5, 2013 More than 1,200 jobs are to be lost as Blockbuster shuts up shop, reports Sky News. No buyer has been found for the high street store's 153 shops, meaning administrator Moorfields is to close it down by the end of the year. 62 Blockbusters are set to close over the next few days with job [...]
As passenger numbers grow is EasyJet about to beat Ryanair in the battle for the skies? December 5, 2013 EasyJet has posted an increase in its passenger numbers for the month of November to 4,255,978. This represents a rise of 3.4 per cent on the same period last year. November's increase in passengers marks further good news for the low-cost airline in stark contrast to Irish competitor Ryanair, which has struggled in recent months. [...]