Carl Icahn reveals AIG stake, calls for break up October 28, 2015 Activist investor Carl Icahn has revealed he owns a stake in AIG – and called for a break up of the the insurance giant. He called a split a "no-brainer" for increasing shareholder returns, and lamented AIG's "wait and see approach" to similar calls which have come from regulators. In an open letter to AIG chief Peter Hancock published on [...]
EU referendum: Why the Brexit debate is a spark of hope for Europe, German pragmatism and British opposition should combine to prevent incompetent and unaccountable leadership October 28, 2015 The Brussels elite, not to mention the Paris political coterie, is once again expressing weariness at British criticism of the European Union. The diverse objections of the different Eurosceptic groups in Britain, seem to them, to confirm incompatibility of the UK with the EU. If Europe à la carte were at the heart of the [...]
Equiniti prices at the bottom of IPO range and then shares fall on first day of trading. Ouch. October 27, 2015 First days can be tough, and it's no different on the London Stock Exchange. Payments provider Equiniti priced its shares at the bottom of the range, at £1.65 a share, when it floated today. But shares closed down on its first day of trading at £1.51, having dropped as low as £1.49 during the day. The [...]
Whatever chancellor George Osborne does next on tax credits he should set it out as clearly as possible October 27, 2015 The Conservative voter who berated energy minister Amber Rudd on Question Time became something of an overnight sensation. Michelle Dorrell was visibly upset as she said life would become very difficult for her and her family if the government was to proceed with its reductions in tax credits. But just a day or two later, [...]
Morrisons staff to sue after disgruntled colleague Andrew Skelton posted bank, salary and National Insurance details online October 27, 2015 Morrisons staff are planning to sue the supermarket after a data leak led to personal details of almost 100,000 employees being posted online by "a former colleague with a grudge". Bank, salary and National Insurance details were posted by Andrew Skelton, a senior internal auditor at Morrisons' Bradford head office, on data sharing websites after being disciplined [...]
Rugby World Cup 2015 odds: Australia rugby bosses have £140,000 bet on their team to beat New Zealand in final in order to cover Wallabies bonus payments October 27, 2015 No one can accuse Australian rugby of lacking in confidence. The Wallabies may not have arrived at this year's World Cup as favourites, but the Australian Rugby Union (ARU) backed their team with a massive $AUS 300,000 (£141,891) bet with a corporate bookmaker on them lifting the Web Ellis trophy. If Michael Cheika's team beat [...]
Sadiq Khan shows Jeremy Corbyn how to reach out to business October 27, 2015 On a national level, Labour’s relationship with the business community is under serious strain. The party’s plans for nationalisations, interventions and higher taxes has left many of the country’s employers and wealth creators wondering what ever happened to those on the left who recognised the benefits of a thriving private sector economy. Fortunately, hope is [...]
As it receives a mauling in the House of Lords, will tax credit cuts be this government’s poll tax? October 26, 2015 Tim Farron, leader of the Liberal Democrats, says Yes The Conservative Party’s cuts to tax credits are as misguided as their attempts to bring in the poll tax. This is effectively a tax rise targeted towards millions of the lowest paid people in our country. And remember, these people are doing the right thing – [...]
Insurer Axa brings Ireland business under scope of new UK boss Amanda Blanc October 26, 2015 Insurance company Axa has announced that it will bring its Ireland operations under the remit of Amanda Blanc when she becomes CEO of Axa Insurance, UK & Ireland, on 1 January 2016. Axa Ireland will continue to run as an independent entity, but will report into Blanc. Axa Ireland will be headed by Phil Bradley [...]
Move over bankers: Fintech workers have seen some of the fastest salary growth this year October 26, 2015 They may not yet be on a par with bankers, but the UK's tech workers shared a bonus pot of £3.25bn in 2015, while their basic salaries have grown five per cent over the last financial year. The average IT worker's bonus is £6,681, equivalent to 12 per cent of average salary, which is up [...]