Sports Direct: What’s gone wrong for Mike Ashley? July 26, 2019 Even for an unpredictable retail tycoon like Mike Ashley, today’s strange turn of events is unprecedented. Sports Direct was set to release its full-year figures at 7am this morning, before suddenly postponing its statement and cancelling media interviews. Read more: Confusion reigns as Sports Direct delays annual results yet again With no explanation given as [...]
Philip Hammond rules out running for Treasury committee chair July 25, 2019 Former chancellor Philip Hammond has ruled out making a bid for the vacant position of chair of the Treasury select committee, City A.M. has learnt. On Thursday evening a source close to Hammond said the former chancellor was contemplating the move, saying: “He hasn’t ruled it out.” However, a spokesperson for Hammond poured cold water on the suggestion, [...]
Clearing house LCH drafts in Credit Agricole executive as new CEO July 25, 2019 Global clearing house LCH has drafted in a former top boss of Credit Agricole as its new chief executive. Isabelle Girolami is set to take on the role of chief executive in November, taking over from Martin Pluves as he begins a new role as head of the Fixed Income, Currency and Commodities Markets Standards [...]
Elon Musk’s Tesla loses more than $5bn in value as shares plummet July 25, 2019 Tesla’s valuation dropped by more than $5bn when markets opened this afternoon as investors reacted to the firm’s disappointing second-quarter results. Shares in Elon Musk’s firm plunged more than 13 per cent to just under $229 after figures for revenue and profit margin fell short of expectations. Read more: Tesla revenues fall short of expectations [...]
Comcast grows revenue and profit thanks to broadband boost July 25, 2019 Comcast has posted a rise in revenue and profit for the second quarter as an increase in broadband customers helped offset a decline in its TV business. The US media group posted revenue of $26.9bn (£21.5bn) in the three months to the end of June, up 24 per cent on the same period last year. [...]
The rise of the ASMR-tists: The online phenomenon touted as an antidote to anxiety and insomnia July 25, 2019 The slurp of a woman eating soup; the abrupt snip of scissors through hair; the crinkle of tinfoil being scrunched into a ball. For some people, these everyday sounds ignite a mysterious, near-ecstatic sensation known as Auto Sensory Meridian Response (ASMR). This reaction is characterised by a kind of low-level euphoria, similar to the prickly [...]
Metro Bank drafts in new non-exec director ahead of results July 24, 2019 Metro Bank has appointed a former senior Bank of Ireland boss to be its latest new independent non-executive director, as the troubled lender ramps up its management reshuffle following a tumultuous six months. Michael Torpey, a former senior executive at Bank of Ireland, is set to to join Metro Bank’s board in September, becoming the [...]
Struggling Deutsche Bank misses estimates as losses exceed €3bn July 24, 2019 The scale of troubles at Deutsche Bank were laid bare this morning after the German lender posted worse-than-expected losses over the last quarter. Read more: Metro Bank’s chair to step down Dented by costs from a major business overhaul, the embattled bank reported quarterly losses of €3.15bn (£2.7bn) over the three month period, missing its [...]
Passport-maker De La Rue under investigation by fraud squad over suspected corruption July 23, 2019 Passport and banknote-maker De La Rue said today it is under investigation by the Serious Fraud Office (SFO) over suspected corruption. De La Rue told the stock market this afternoon that the SFO had opened an investigation into the company and its associated persons in relation to suspected corruption in South Sudan. De La Rue’s [...]
Ranked: These are the UK’s worst broadband and mobile firms July 23, 2019 Plusnet has topped a list of highest number of complaints for a broadband provider for the second quarter in a row. The Sheffield-based telecoms firm received 31 complaints per 100,000 customers between January and March, according to figures published today by regulator Ofcom. Read more: Which telecoms companies have the worst customer service? Plusnet was [...]