GameStop fiasco: EU regulators to probe zero-commission stock trading February 23, 2021 Steven Maijoor, the chair of the European Securities and Markets Authority, confirmed today his regulatory body is looking into zero-commission trading. Addressing the Committee on Economic and Monetary Affairs of the European Parliament earlier today, Maijoor warned about the “gamification” of investing and stated that trading strategies designed to secure the price of a financial [...]
THG ramps up governance overhaul and begins search for independent chair October 26, 2021 UK e-commerce company THG said this morning it has appointed a consulting firm to begin a search for a new independent chair for the company, in its latest attempt to appease City investors with doubts about the governance and transparency of the business. Alongside its third quarter results this morning, the group announced it had [...]
Reddit appoints first chief financial officer amid IPO reports March 5, 2021 Reddit has appointed its first ever chief financial officer amid reports the company is considering a stock market float. The social media site, which has been at the centre of a recent retail trading frenzy, has tapped former Snap executive Drew Vollero to lead its finance team. Vollero, who was Snap’s first chief financial officer [...]
Boris Johnson under investigation for £15,000 Caribbean holiday by MP standards watchdog May 10, 2021 Boris Johnson is under investigation by Westminster’s parliamentary watchdog for his £15,000 Caribbean holiday to Mustique with his fiancee Carrie Symonds. The Parliamentary Commissioner for Standards Kathryn Stone announced today that it was looking at Johnson’s holiday over the 2019/20 New Year period, after an initial saga over who paid for the holiday. The probe [...]
Credit Suisse plunges to hefty loss as Archegos collapse takes its toll April 22, 2021 Credit Suisse today posted a hefty loss for the first quarter after suffering a multi-billion-pound hit from the collapse of US hedge fund Archegos. The lender reported a pre-tax loss of 757m Swiss francs (£593m), down from a 1.2bn franc profit last year but marginally ahead of analyst expectations. The figures were dragged down by [...]
Ed Warner: The metaverse, Web3 and what it means for football club valuations May 5, 2022 In this week’s column, Ed Warner delves into the metaverse’s possible ramifications for the business of sport and considers the latest twists in the Chelsea sale saga. It was the shoes that put me in my place. Queuing to enter the SportsPro Live jamboree at The Oval last week, I scanned the footwear of my [...]
Virgin Voyages to launch in UK for vaccinated passengers April 8, 2021 Virgin Voyages has today announced that it will finally launch its long-delayed debut cruises this summer – but only for fully vaccinated passengers. The firm, which only caters to adult passengers, will offer six trips in UK waters, starting from Portsmouth, from August. Passengers aboard the Scarlet Lady can opt for either a three or [...]
JD Sports mulls equity raise to fund acquisition spree January 26, 2021 JD Sports has confirmed it is considering tapping shareholders for extra cash to fund acquisitions, following reports that it is mulling a £400m equity raise. The retailer announced this morning that it is “exploring additional funding options” which could involve an equity placing. It said it is seeking to increase its “flexibility to invest in [...]
Saga shares plunge on warning of fresh travel struggles June 19, 2019 Shares in Saga have fallen more than ten per cent this morning after the insurance and travel group warned its tour operations were set to take a hit. Ahead of its annual meeting later today, Saga warned of fresh travel struggles due to a competitive market and political uncertainties. Read more: End of the Saga [...]
Government announces traffic light system to pave way for international travel April 9, 2021 The government has announced plans for a new traffic light system to pave the way for the return of international travel in a boon for sun-starved Brits. However, the travel industry is up in arms over plans to make those travelling to the least at-risk countries take costly PCR tests before their departure and return. [...]