Rangers shareholder Kieran Prior urges chairman Dave King to fight Mike Ashley over Sports Direct retail deal February 6, 2016 Rangers shareholder Kieran Prior, a former Goldman Sachs trader with a reported IQ of 234, has urged club chairman Dave King to continue his legal battle with Mike Ashley's Sports Direct. Prior believes King should seek to terminate the Rangers Retail joint venture with Sports Direct in court as soon as possible, should the FTSE [...]
Rangers say goodbye to Mike Ashley: Club formally gives notice to end relationship with Sports Direct February 5, 2016 Rangers are looking to bring their tumultuous relationship with Sports Direct to a close by formally giving notice to the Mike Ashley-owned company to end their commercial partnership – yet the two companies could still be tied together until 2023. In a letter to supporters, club chairman Dave King said he had immediately written to Sports Direct [...]
Hound of Hounslow trader Navinder Singh Sarao allegedly “heavily engaged” in spoofing on day of “flash crash” February 4, 2016 Lawyers for the US government in an extradition case against a British trader nicknamed the "hound of Hounslow" have said that he was allegedly heavily invested in spoofing on the day of the flash crash. Navinder Singh Sarao, who appeared in Westminster Magistrates' Court today, has been accused of contributing to 2010's so-called flash crash. [...]
Metro Bank float may take the (dog) biscuit February 4, 2016 How much is a dog biscuit worth? A lot, if you believe the contents of documents sent to shareholders in Metro Bank ahead of its listing on the London Stock Exchange in March. Since its launch six years ago, the first new lender to hit UK high streets in more than a century has done a [...]
Academic paper says “flash crash” trader Navinder Singh Sarao not the cause of 2010’s sudden market drop January 28, 2016 A research paper published online earlier this week by three US-based academics claims that May 2010's "flash crash" had little or nothing to do with the actions of a British trader accused of contributing to the sudden market drop. The study, which is entitled The Flash Crash: A New Deconstruction, concludes that it is "highly unlikely" the crash [...]
Uber ordered to pay €1.2m by French court January 27, 2016 Uber has been ordered to pay out €1.2m (£900,000) by a court in France. The Paris high court ruled that Uber must pay the National Taxi Union, in relation to a ruling on the way Uber picks up passengers in the city, according to documents seen by AFP. The ruling dates back to 2014 and is being appealed [...]
Rangers: Blow for Mike Ashley and Sports Direct as club chairman Dave King is cleared of contempt of court January 22, 2016 Rangers chairman Dave King has been cleared of contempt of court at the High Court over his legal dealings with Sports Direct owner Mike Ashley. Mr Justice Peter Smith threw out the charge and said the fact it had been made was an abuse of the process. King had been accused of committing contempt for [...]
Google has paid Apple $1bn to keep its search on iPhones – and has generated over $36bn from Android January 22, 2016 Google is paying a pretty penny to remain the default search bar on Apple’s iPhones. The tech giant paid its rival $1bn in 2014 to keep its search engine on iOS products like iPhones and iPads, court records have shown. Apple was also reportedly raking in a 34 per cent slice of Google’s sales through iOS devices [...]
Blockchain payment revolution: How to ensure confidence in twenty-first century transactions January 22, 2016 We are on the threshold of a revolution in financial services which promises extraordinary leaps in efficiency for all kinds of transactions. And arguably the biggest obstacle to our society reaping the full benefit of this findustrial revolution is the issue of trust in transactions. When stock exchanges developed centuries ago, a handshake between (predominantly) [...]
Alexander Litvinenko death inquiry report finds Vladimir Putin and FSB boss Patrushev “probably” approved his murder January 21, 2016 The killing of Alexander Litvinenko was "probably" approved by Russian President Vladimir Putin and former director of Russian FSB, a report published this morning has claimed. The report, by UK judge Sir Robert Owen, found that Andrei Lugovoy and Dmitry Kovtun, who have previously denied killing him, were behind the man's death. But Owen said he was "sure" they were [...]