US firm Wiley buys London-based tech education company Mthree for £98m January 6, 2020 London-based tech education firm Mthree has been bought by US multinational John Wiley and Sons, in a deal worth $129m (£98m). Mthree trains up students and professionals looking to go into technology careers, and boasts a revenue of more than $50m. Read more: The top tech predictions for 2020 The company was sold by private [...]
Why more and more fund managers are turning to shareholder activism January 6, 2020 According to Greta Thunberg, “the danger is when politicians and CEOs are making it look like real action is happening, when in fact almost nothing is being done.” She may find some unlikely bedfellows in the Square Mile. Active fund managers have endured a torrid time of late. The Woodford saga and M&G’s decision to [...]
We can make this the decade of purpose-driven capitalism January 6, 2020 As we enter the 2020s, capitalism is suffering a crisis of confidence. Populists around the world are putting a simple spin on globalisation as against the interests of ordinary people. By contrasting the growth in developed economies with a simultaneous squeeze on living standards, they argue that the link has been severed between a profitable [...]
UK hotel insolvencies hit five-year high in 2019 January 6, 2020 UK hotel insolvencies hit their highest levels in five years in 2019, rising 60 per cent year on year to hit 144. According to accountants UHY Hacker Young, the slowing UK economy is to blame for the rise, as businesses have been forced to cut back on conferences and corporate away days, a key source [...]
London Chamber of Commerce appoints Richard Burge as new chief executive January 5, 2020 The London Chamber of Commerce and Industry (LCCI) has appointed international affairs specialist Richard Burge as its new chief executive officer. Burge has joined LCCI from his most recent position as senior adviser on Diplomatic Engagement for the City of London Corporation. Read more: London Chamber of Commerce warns dramatic rethink needed for London traffic [...]
British Museum cools on BP ahead of Arctic exhibition January 5, 2020 Oil giant BP will not be a sponsor for the British Museum’s upcoming ‘Arctic: culture and climate’ exhibition, in a decision that is likely to be seen as a victory for climate activists. The institution has come under increasing criticism for its links to the fossil fuel firm, which has sponsored blockbuster exhibitions at the [...]
What is an asset class? January 2, 2020 Today, diversification and alternative returns are our top portfolio concerns. Why? Because low interest rates may have driven valuations of stocks, bonds, and other asset classes to unsustainable heights, so we’re forever on the lookout for uncorrelated assets to incorporate into our portfolios. And of course, product providers are all too happy to accommodate us, [...]
Google to end ‘double Irish’ tax scheme January 1, 2020 Google will stop using an intellectual property licensing scheme that let it delay paying US taxes, marking a major change in international tax practices. “We’re now simplifying our corporate structure and will license our IP (intellectual property) from the US, not Bermuda,” a spokesman said in a statement. Read more: France fines Google over anti-competitive [...]
UK stocks 2020: Which shares are City A.M. staff backing in the new year? December 30, 2019 The UK stock market looks set to end the year on a high after the Tories’ election win and progress in US-China trade talks alleviated the uncertainty that has weighed on markets for months. But the road ahead is far from clear, with the looming Brexit date of 31st January and various upcoming trade negotiations [...]
Softbank board loses dissenting voice as Uniqlo founder leaves December 27, 2019 The founder of clothes company Uniqlo will resign from the board of Softbank after 18 months in the job. Tadashi Yanai, who is chief executive of Uniqlo, will leave the Softbank independent board member post at the end of the month to focus on his fashion business. Read more: Softbank ‘tightening governance’ at firms it [...]