After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Cenkos pays FCA £0.5m fine in relation Quindell representations August 9, 2016 The Financial Conduct Authority (FCA) fined mid-cap stockbroker Cenkos this morning for making incorrect representations over insurance company Quindell's attempted admission to the stock exchange. Cenkos paid £530,500 in early settlement of the fine, which would have otherwise been £757,800. The size of the fine was in line with expectations, and Cenkos' share price increased by nearly five per cent [...]
Marriott-Starwood merger delayed by up to 60 days by Chinese competition authority August 9, 2016 China's ministry of commerce has extended its antitrust review of Marriott International's takeover of hotel giant Starwood Hotels & Resorts Worldwide by up to 60 days. The competition authority requested an additional review period, known as phase three, to investigate the merger, the companies said in a joint statement. If the tie-up of the two [...]
Why Legal & General’s share price is down when its profits are up August 9, 2016 Pensions and insurance giant Legal & General's shares are today the biggest fallers of the FTSE 100, despite the company revealing a boost to its pre-tax profits. Legal & General announced a profit before tax attributable to shareholders of £826m, an increase of 23 per cent. Despite this, shares are currently down 4.9 per cent at 207.5p. [charts-share-price [...]
Legal & General share price falls as company reveals wobbles with insurance despite growing profits overall August 9, 2016 Legal & General slumped to the bottom of the FTSE 100 this morning, despite reporting an increase in profits. The figures The financial services giant revealed a profit before tax attributable to shareholders for the first half of 2016 of £826m, up 23 per cent on 2015's £672m. However, hidden within that positive profit figure, insurance [...]
Rents continued to climb in July – but the rate of growth is slowing August 9, 2016 Rents kept climbing in July – but the rate of growth is cooling in the second half of the year. According to data from Homelet, rents agreed on new tenancies in the UK over the past three months increased by 2.3 per cent as compared to the same period last year – excluding London. Read [...]
City Moves for 9 August 2016 | Who’s switching jobs August 9, 2016 Metamako Metamako, a specialist in deterministic network devices for the world’s financial institutions, has appointed Kevin Covington as CEO. With a long career in the fintech industry, Kevin has many years’ experience of growing and developing financial technology companies. He was one of the creators of the concept of co-location. In his previous position as [...]
Inzura becomes the lastest company on the insurtech scene August 9, 2016 Inzura – a new digital insurance platform – is set to begin using smartphone data and photo recognition to calculate policies. It’s thought insurance companies will be able to take on less risk by fine-tuning policies. "We believe the smartphone will play a central role in the much-needed digitisation of insurance," said Richard Jelbert, chief executive of [...]
Uber just renewed its feud with London’s regulators August 8, 2016 Uber is turning to its customers to help it fight "bureaucratic" new rules imposed by Transport for London, including an English exam "harder than the test for British citizenship", renewing its feud with regulators in the capital. The billion-dollar company said the rules would "threaten the livelihood of thousands of drivers", reducing their numbers and thus increasing the [...]
Savills investment management launches €300m fund August 8, 2016 Savills investment management has launched a €300m fund on behalf of two Italian investors. The Mercury fund has been launched for CONAD, the largest independent retailer consortium in Italy, and the Italian insurance group Gruppo Cattolica Assicurazioni. The fund will allow three CONAD cooperatives to sell and lease back retail properties across central and northern Italy on long-term leases, [...]
Simples: Comparethemarket.com owner chooses banks to oversee stock meerkat float August 7, 2016 The owner of Comparethemarket.com has appointed two Wall Street banks to oversee its £2bn-plus London flotation plans. BGL Group is aiming to launch an initial public offering (IPO) in the first quarter of 2017, with JP Morgan and Morgan Stanley now working on the float. Read more: Meet the companies that have ignored London's EU [...]