Facebook’s Mark Zuckerberg breaks his silence on Cambridge Analytica: “We made mistakes” March 21, 2018 Mark Zuckerberg has broken his silence over Facebook’s data scandal with Cambridge Analytica, saying the company “made mistakes”. The social media giant’s boss had been notably absent since allegations were made that data firm Cambridge Analytica mined millions of Facebook users’ personal data over the weekend. Today, in a Facebook post, Zuckerberg said: We have [...]
US fintech investor Motive Partners chooses Canary Wharf as its European base March 21, 2018 US growth investor Motive Partners has chosen Canary Wharf as a home for its new European hub. The firm, which focuses on fintech investments and has already made two deals, said it was “essential” to have a base in London due to its status as a fintech capital. “You can’t claim to be an important [...]
Shares in tech firm Micro Focus (MCRO) slump as it warns on faster revenue decline than expected and chief executive steps down March 19, 2018 Shares in UK tech firm Micro Focus slumped this morning after it warned that revenues had been falling faster than it had expected in January, and its chief executive was stepping down with immediate effect. Chris Hsu submitted his resignation “in order to spend more time with his family and pursue another opportunity”. Stephen Murdoch, [...]
Cambridge Analytica: Data scandal leads to call for Facebook CEO Mark Zuckerberg to be grilled by MPs March 19, 2018 The chair of a parliamentary committee has demanded that Mark Zuckerberg “stop hiding behind his Facebook page” and come before MPs to respond to allegations of data misuse by the UK-headquartered political research outfit Cambridge Analytica. Damian Collins, chair of the Digital, Culture, Media and Sport (DCMS) Committee, hit out amid revelations that a company [...]
Divorce and financial planning March 16, 2018 Going through a divorce is a stressful transition but there are some important considerations which can be taken into account early in the separation process in order to minimise complications down the line. The process will probably be overseen by a family lawyer but, given the complexity of any given person’s finances, consulting a financial [...]
GKN backs Airbus warning against Melrose takeover saying short-term business model is “inappropriate” for investors March 15, 2018 GKN has responded to Airbus’ concern over an £8.1bn approach from Melrose, reiterating its “firmly held belief” that Melrose is not an appropriate owner for the firm. Airbus, one of GKN’s most significant customers, had become the latest party to express concern over Melrose’s proposed £8.1bn hostile takeover of the engineering company, saying it would [...]
Broker TP Icap is in talks with European regulators to potentially shift from London post-Brexit, as shares sink on weak results March 13, 2018 TP Icap, the world’s largest interdealer broker, has revealed today that it is in talks with a number of European financial regulators about moving its “EU trading hub” from London post-Brexit. The firm, which matches buyers and sellers in financial, energy and commodities markets, promised in its full-year results that it would “do what is [...]
Darktrace’s bright future: The CEO behind the company tipped to be the UK’s next tech unicorn March 12, 2018 In the heart of London, in the middle of the Strand, the office of Darktrace sits almost like a fortress; a sea of calm in the chaos and uncertainty that reigns in every global city. From here, maths whizzes and former intelligence officers have helped build a product sought after by multi-billion pound companies keen [...]
GKN boss Anne Stevens evades questions on whether job numbers will grow as MPs grill GKN and Melrose execs March 6, 2018 Top executives at beleaguered engineering giant GKN refused to confirm whether the firm would create more jobs if Melrose failed in its £7.4bn hostile bid. When grilled by a committee of MPs, GKN’s chief executive Anne Stevens said she expected the company to keep growing. Yet Stevens declined to directly confirm whether she saw Melrose [...]
Last Week in the City: Trump threatens trade war March 2, 2018 This week US President Donald Trump threatened a trade war, a number of famous high street names, including Toys R Us and Maplin, got into serious trading trouble and upbeat assessments of the US economy from central bankers helped the US dollar to rally, reversing its recent trend. The FTSE 100 fell 0.2 per cent [...]