Palantir founder hits out at claims unicorn startup is struggling May 8, 2016 A founder of one of the world's most highly valued startups has hit back at claims the company is struggling with the loss of clients and staff. Joe Lonsdale, a founder of the secretive startup Palantir along with PayPal pioneer Peter Thiel and others, which boasts the Bank of England as one of its clients, said it was [...]
Standard Life snaps up Axa’s Elevate May 4, 2016 Standard Life has today agreed to buy Elevate, Axa's wrap platform aimed at investors. The move will see Standard Life gain over 150,000 customers and £9.8bn worth of assets under administration. Standard Life will be purchasing the platform through subsidiary Standard Life Savings, using cash to acquire the entire share capital of Elevate, which is the trading name for Axa Portfolio [...]
Ardian raises $10.8bn to invest in secondary private equity funds and says “market has come of age” April 19, 2016 The second-hand private equity market has "come of age", Ardian declared as it announced new funding worth $10.8bn (£7.5bn). The private equity firm, which until 2013 was Axa Private Equity and is now largely employee-owned, said it has raised $27.4bn for secondary investment in the last five years. Ardian today announced it had fundraised $10.8bn for secondary [...]
HSBC’s chief executive Stuart Gulliver standing down in two years, with Axa’s Henri de Castries hotly tipped as new chairman April 17, 2016 Stuart Gulliver, the chief executive of banking giant HSBC, looks set to stand down from his role in two years. The bank revealed in a letter to its shareholders last month that the new group chairman, who will be joining once current chairman Douglas Flint steps down, will be heading up the search for a new [...]
Developers behind 22 Bishopsgate skyscraper win “rights to light” battle April 5, 2016 The developers behind City skyscraper 22 Bishopsgate have won a controversial battle with neighbouring landlords over the scheme blocking their "rights to light" after City planners used special powers to override opposition. Members of the City of London Corporation Planning & Transportation committee this morning voted overwhelmingly in favour of temporarily acquiring the site under a Section 237 agreement, so [...]
Flood Re: What you need to know about the reinsurance scheme that launched today April 4, 2016 It's something of a catch 22 – those who are most in need of a good home insurance policy are often those least able to afford it, thanks to insurers needing to raise premiums to adequately reflect the risk they expose themselves to, or simply refusing to cover some areas at all. That's precisely why government-backed [...]
Premier Foods boss should keep bidders hungry April 1, 2016 Rival international bidders, restive shareholders and conflicting pension deficit assumptions: like all chefs, Gavin Darby is juggling an eclectic mix of ingredients. His company, Premier Foods, home to Mr Kipling, Bisto and Sharwoods, looks tastier than it has for years. A fresh offer from McCormick of the US, worth 65p-a-share, has rightly prompted Darby and his [...]
Earning a crust: With Centrica, Rolls Royce, BHP Billiton and others cutting their dividend, where should investors look for income? March 31, 2016 As central banks have pushed down interest rates, income has become ever harder to find. While returns on cash savings have remained low, dividend-yielding stocks have looked like a source of stability. But now, trouble in the global economy is forcing reliable dividend payers such as Centrica and Rolls Royce to slash their payouts. Companies [...]
Axa chief executive and chairman Henri de Castries steps down as role is split in two March 21, 2016 Axa chairman and chief executive Henri de Castries will retire on 1 September, after 27 years at the group and nearly 17 years at the helm. He is being replaced by two people: Thomas Buberl will take over as chief executive while Denis Duverne will become chairman. The decision to split the role was agreed unanimously at a special meeting [...]
Budget 2016: Here are the reactions to Osborne’s announcements on sugar tax, corporation tax, Insurance Premium Tax, Isas, education and growth prospects March 16, 2016 George Osborne has just announced some Budget surprises – a sugar tax, longer school days – as well as an increase in sin taxes on tobacco, alterations to ISAs and savings, and corporation taxes. Here's what analysts are already saying about the chancellor's latest agenda on… Personal allowance David Kilshaw, private clients services partner, EY [...]