Visa Inc share price down as it agrees to buy former subsidiary Visa Europe for €21.2bn November 2, 2015 Visa Inc announced this morning it has reached a deal to buy its former subsidiary Visa Europe for as much as €21.2bn (£15bn). The consolidation of Visa Europe's 500 million card accounts, worth more than €1.5 trillion, will create a single global payments company. The upfront payment comprises of €11.5bn in cash and €5bn-worth of preferred stock (which pays fixed dividends, taking [...]
Quindell share price rises as it denies plans to sell off Nationwide Accident Repair stake November 20, 2014 Shares in beleaguered insurance services provider Quindell rose at much as eight per cent in early trading as it quashed rumours it had attempted to sell off its 25 per cent stake in Nationwide Accident Repair Services. The statement, issued to the stock market this morning, was in response to reports that Nationwide's broker, Westhouse, [...]
French stage fiery protest over Uber June 25, 2015 FRANCE’S interior minister called for a nationwide legal clampdown on Uber yesterday, siding with taxi drivers who blockaded major transport hubs in angry protests (see above) against the US online ridesharing service.
Pensions reform: Lump sums don’t mean Lamborghinis as Britain’s savers are still being prudent October 5, 2015 Pensioners were expected to be buying up Lamborghinis in droves this summer, after landmark pension freedoms came into effect in April. The new system allows people over 55 to take some – or even all – of their pension as a lump sum. It wipes away old restrictions which only let retirees have a [...]
Instant noodle ban overturned on Nestle’s Maggi but sales fall short August 14, 2015 AN INDIAN court has overturned the nationwide ban imposed on one of the country’s most popular instant noodle snacks, following an original decision to remove the product from shelves in June. The news will come as a relief to food giant Nestle, after the company’s half-year results indicated that sales figures were slightly below analysts’ [...]
Mike Ashley is the least popular director among Sports Direct shareholders September 9, 2015 Mike Ashley is the least popular director at Sports Direct among shareholders, according to votes taken at the retailer's AGM held yesterday. The multi-billion-pound business, which Ashley set up in 1982, comfortably passed all the requisite resolutions including the re-election of all its directors. But the numbers revealed by Sports Direct showed proportionately [...]
Sports Direct, Debenhams, Tesco and House of Fraser: What does Mike Ashley own and how much is he worth? November 25, 2015 It's been a busy year for Mike Ashley, who has been buying up retailers and football clubs left, right and centre. But what exactly does he own, and how much has it cost him? And what on earth do his Sports Direct shareholders make of all the investing? Sports Direct International Ashley owns 58 per [...]
HSBC and First Direct customers can finally use Apple Pay July 28, 2015 The mobile payment system launched in the UK in mid-July to great excitement, but not all banks supported it from the start. Although HSBC was supposed to be a launch partner, when the day came, customers were told the service had been delayed, and that the bank was “working hard” to get it running by [...]
Dame Colette Bowe on her plans for the Banking Standards Board December 7, 2015 Sitting in a small office around the corner from the Bank of England, former Ofcom chair Dame Colette Bowe says that her new job barely resembles her earlier days as a regulator. “We’re very different from being a regulator,” Bowe tells City A.M. “Regulators have statutory duties, as well as statutory powers. Regulators can say: [...]
Adventure capital: Investors pump £1bn into London’s tech sector in 2015 October 8, 2015 Investors have pumped a record £1bn into London’s thriving tech sector this year as the capital’s digital economy rockets, with experts predicting that the capital could soon be on course to challenge Silicon Valley. Data from London & Partners, the mayor’s investment company, shows that London’s technology companies have raked in three-quarters of the [...]