Maplin job losses continue as administrators fail to find a buyer March 22, 2018 Maplin's administrators have announced further job losses this morning after failing to find a buyer for the business. The retail chain, which employs more than 2,000 people, was put into administration at the end of February. PwC has been handling the process, and today said a further 66 redundancies had been made at Maplin's head [...]
Russian ambassador: UK is in breach of Vienna Convention for blocking access to Skripals March 22, 2018 The Russian ambassador to the UK has implied the British authorities may have been behind the attack on Sergei Skripal and his daughter Yulia, adding the country is in breach of the Vienna Convention for blocking access to “our compatriot”. Speaking from London this afternoon, Alexander Yakovenko claimed it was suspicious that the UK had [...]
De La Rue (DLAR) share price falls after it loses out on contract for new British passport post-Brexit and mulls appeal March 22, 2018 De La Rue this morning confirmed it had missed out on the contract to design the new post-Brexit British passport in 2019 and said it was mulling its options, including whether to appeal. De La Rue’s chief executive Martin Sutherland told the BBC’s Today programme the company was “being undercut by a French competitor”, saying [...]
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 [...]