Apple Watch: This is what luxury watch stocks are doing after Apple’s smartwatch launch March 10, 2015 After the fanfare of the Apple Watch, stocks in the world’s traditional luxury watchmakers dipped lower as the historic industry faces up to the modern age. The Swiss watch industry, where the majority of luxury watches are made, exported 28.6m units in 2014, while analysts are predicting challenger Apple (in the watch arena at least) will [...]
Derek Llambias, Sandy Easdale and Barry Leach suspended from Rangers as new board launches investigation March 10, 2015 Rangers Football Club has suspended former executives Derek Llambias, Sandy Easdale and Barry Leach pending an investigation. The trio – who were respectively chief executive, chairman and finance director until they were ousted by 85 per cent of shareholders on Friday – have been told to stay away from the club. Dave King [...]
Rangers FC EGM result: Shareholders vote overwhlmingly in favour of board’s removal to bring in Dave King March 6, 2015 Rangers shareholders have voted overwhelmingly in favour of the removal of the football club's current board, handing victory in the long-running boardroom battle to shareholder Dave King. Chief executive Derek Llambias and finance director Barry Leach have been voted out with just under 85 per cent of shareholder support. They have been replaced by South [...]
Heron Tower police raid: The colourful world of Chelsea FC’s forex partner CWM FX March 6, 2015 Only one company in the Heron Tower has alluded to this week’s police raid. We ask who they are… Three days ago police raided offices in the Heron Tower, hauling 13 City workers out of the building and away for questioning. The event has sent shockwaves through the Square Mile; but aside from pub gossip [...]
Rangers FC shareholders vote on club’s future at EGM called by Dave King March 6, 2015 Rangers’ shareholders have voted on a resolution to oust the football club's board at a highly anticipated extraordinary general meeting (EGM) today. Dave King, the South African businessman who holds a 14.5 per cent stake in the club, called the EGM to gain control of the board and unseat its four members allied with Sports [...]
The non-bank of Facebook, AliBay, and AI: The future of global fintech March 5, 2015 The global fintech industry has seen some remarkable developments since we launched Level39 two years ago. But what of the future? I’d like to suggest two possibilities for what might happen, and challenge one that, contrary to some current thinking, I don’t think will. FACEBOOK: THE NON-BANK BANK More than any other social media platform, [...]
Rangers shares suspended as adviser quits March 4, 2015 FALLEN Scottish footballing giants Rangers yesterday saw trading in its shares on the Aim market suspended after the resignation of the club’s nominated adviser (nomad) WH Ireland. Unless the Championship club appoints a new nomad within a month Rangers International Football Club (RIFC) will be removed from the exchange. WH Ireland was RIFC’s fourth nomad [...]
Rangers shares suspended on London Stock Exchange following WH Ireland resignation March 4, 2015 The AIM market has suspended trading of shares in Rangers International Football Club (RIFC). The suspension follows the resignation of the club's nominated adviser (nomad) WH Ireland. Unless Rangers appoints a new nomad within a month the club will be removed from the AIM exchange. WH Ireland was RIFC's fourth nomad in two years. In [...]
Rangers seeks second tranche of Sports Direct loan – but warns it might not be approved March 4, 2015 Rangers is applying to draw down the second tranche of the Sports Direct loan to keep its head above water – but has warned that it might not receive the cash. The struggling football club was lent £10m by Sports Direct owner Mike Ashley at the start of the year for its urgent capital needs. [...]
Mike Ashley sidesteps MP grilling over USC redundancies March 4, 2015 Mike Ashley is sidestepping a meeting with Scottish MPs who want to grill him over the handling of USC's administration and his retail empire's use of zero-hour contracts. The Scottish Affairs Committee has called Ashley and other executives to appear before them as part of an investigation into how the high street chain collapsed, and [...]