City AM awards: Business of the Year nominees announced September 7, 2014 I have great pleasure in introducing the first of our shortlists for the annual City A.M. awards. As ever, the awards have attracted nominations from all sorts of diverse businesses and people who have done great things during the course of the past year, a year of recovery in the UK. We have taken on [...]
And the nominees are… September 7, 2014 TOMORROW: ACCOUNTANCY FIRM OF THE YEAR ALDI The German discounter has taken the British high street by storm. Aldi now has a 4.6 per cent share of the UK market, up more than one third in a year due to consumers choosing its quality and low prices over the more established retailers. It has even [...]
Shares slide after US judge blames BP and paves way for £11bn fines September 4, 2014 OIL GIANT BP has been described by a US judge as “grossly negligent” for its role in the oil spill in the Gulf of Mexico four years ago, in a ruling that could add $18bn (£11bn) in fines to the more than $42bn in charges taken so far for the worst offshore disaster in US [...]
The Wedgwood collection is a key piece of our commercial heritage – let’s keep it together September 4, 2014 We have three months to save a vital piece of Britain’s commercial heritage. The Art Fund, an independent charity which helps buy art for the nation, has already raised a heroic £13m. It is now seeking a final £2.74m in donations by 30 November to keep the Wedgwood collection together in its Staffordshire home. Waterford [...]
BNY Mellon hit as Argentina revokes licence August 26, 2014 Bank of New York Mellon was yesterday hit by a double whammy after Argentina stripped its licence to operate in the country. And it was revealed that George Soros had launched legal proceedings in London against it. Argentina’s Congress is due tomorrow to discuss a law that would replace BNY Mellon as intermediary for payments [...]
Ball boys and Marcos Giron test Ralph Lauren’s Polo tech shirt to monitor heart rate and biometrics at US Open August 26, 2014 There’s a lot of talk about wearables – clothes combining smart technology- but much of it is still in the hypothetical or early beta stages. Ralph Lauren could be the first big fashion brand out of the stalls when it comes to getting wearable tech on to people’s backs. The designer known for preppy polos [...]
Julian Assange timeline: From Wikileaks’ cable-leaker to Ecuadorian embassy refugee August 18, 2014 October 2006 – Assange sets up Wikileaks as a platform for anonymous whistleblowers. February 2010 – Wikileaks publishes a leaked cable relating to the Icesave scandal – the first classified documents supplied by Chelsea (formerly Bradley) Manning. April 2010 – Wikileaks reveals a video called Collateral Murder, showing two US military teams [...]
Steve Ballmer buys the LA Clippers for $2bn August 12, 2014 Steve Ballmer has wrapped up the $2bn sale of the Los Angeles Clippers. The stellar US basketball team is now in the hands of the former Microsoft chief executive, as confirmed by a National Basketball Association (NBA) statement. The NBA's release was short: The transaction in which Steve Ballmer purchased the Los Angeles Clippers closed today [...]
Don’t take my technician: Court throws out $324.5m settlement for tech firm collusion August 9, 2014 A judge has rejected a $324.5m settlement offered by four Silicon Valley tech firms in a lawsuit brought against them by tech workers, who say that the companies colluded to not poach each other's employees. More than 64,000 of the workers have come together to take Apple, Google, Adobe and Intel to court. [...]
Drax share price slides after it loses appeal on state subsidy August 8, 2014 Power producer Drax’s share price plummeted yesterday after it lost an appeal against the government’s decision to exclude one of its units from a new green subsidy framework. The FTSE 250 firm, which operates the UK’s largest coal-fired power plant, expected to be eligible for early contracts for difference (CfD) mechanisms so that it could [...]