More shareholders raise concerns that Richemont offer “undervalues” yoox Net-a-Porter February 19, 2018 Shareholders in luxury online retailer Yoox Net-a-Porter (YNAP) have raised concerns that a proposed takeover bid undervalues the business. Ciccio Azzollini, chief executive of Italian investment firm 3IP and a YNAP investor told City A.M. that an offer by Montblanc owner Richemont of €38 per share is too low. The bid values YNAP at €5bn [...]
LSE’s chairman bruiser Donald Brydon bruised but unbowed, another corporate Saga and N+1 Singer’s silence December 15, 2017 There are few more obvious boardroom caricatures than that of the trigger-happy chairman, so it hasn’t been difficult to cast Donald Brydon in the role of executive assassin. Next week, the effort to oust him from the London Stock Exchange Group (LSEG) will reach its damp squib of a denouement. To Sir Christopher Hohn, boss [...]
What is social selling and how can you use it to build your client relationships? November 27, 2017 “I don’t connect with clients on social media.” That’s the response many investment advisers give when I ask what they're doing around social. It can feel uncomfortable to risk messing up and getting it wrong, and finance is an industry where compliance rules abound. Yet my advice is to focus on what can go right [...]
The trials and tribulations of tapping new tech November 7, 2017 "Neither Redbox nor Netflix are even on the radar screen in terms of competition.” Those are the words of Jim Keyes, the former chief executive of video rental giant Blockbuster back in 2008. Just five years after Keyes made that statement, Blockbuster went bust, swallowed whole by the mighty online streaming service that is Netflix. [...]
BT pension deficit could reduce by £4.4bn as expectations of an interest rate hike mount October 23, 2017 BT’s troublesome pension black hole is set to reduce by billions of pounds as expectations of an interest rate rise mount, analysts said today. Previously, consensus opinion has been that BT’s retirement deficit would swell from £8.7bn to around £11bn. But in a report by RBC Capital Markets, analysts said BT’s shortfall could halve to [...]
London Stock Exchange chief executive Xavier Rolet backs FCA review of listing rules that could pave way for Saudi Aramco IPO August 3, 2017 London Stock Exchange boss Xavier Rolet today defended the Financial Conduct Authority (FCA) review of listings rules that could pave the way for a Saudi Aramco mega-float. The Institute of Directors this week joined the Investment Association and Royal London Asset Management in speaking out against the proposals, which would ease rules for state-owned companies [...]
Big UK banks slip down in global ranking, but Metro and the challengers make ground July 3, 2017 Big UK banks are suffering compared with international rivals, according to a ranking of the world’s 1,000 largest lenders out today. HSBC remains Britain’s biggest bank in the global ranking, coming in ninth for the second year in a row. However, the lender – which topped the 2008 ranking – suffered its worst result in [...]
British Airways faces escalating bill over IT nightmare as questions build for cost-cutting chief executive Alex Cruz May 29, 2017 British Airways is facing a sky-high bill for its global IT meltdown that resulted in hundreds of flights cancelled over the bank holiday weekend. A power failure on Saturday resulted in mass flight cancellations across London Heathrow and Gatwick airports, causing chaos for 75,000 passengers. Read more: Global IT meltdown prompts British Airways Heathrow, Gatwick [...]
Federal Reserve meeting: What the experts expect Janet Yellen to do on US interest rates March 14, 2017 The Federal Reserve is almost universally expected to raise interest rates at its Wednesday meeting, in only the third rise since the financial crisis. Policymakers have laid the ground for a rate rise for markets. Janet Yellen, chair of the Federal Open Market Committee, recently said a hike would be "appropriate soon." The Federal Reserve [...]
Shell divestment drive continues with the sale of its Canadian oil sands assets March 9, 2017 Shell is progressing with its $30bn divestment plan quite nicely as it today agreed to sell most of its Canadian oil sands assets for $8.5bn (£7bn). The Anglo-Dutch oil giant will sell its existing and undeveloped interests to Canadian Natural and cut its share in the Athabasca Oil Sands Project from 60 to 10 per cent. "This significant divestment [...]