Standard Chartered hikes profits despite US-China trade war impact August 1, 2019 Standard Chartered boosted profits in the first six months of 2019, but warned of the impact of the US-China trade war on global market sentiment. Read more: MPs turn up the heat on Standard Chartered boss in pension pay row The figures Underlying profit before tax increased 11 per cent year on year to $2.6bn [...]
Softbank launches new $108bn Vision Fund for AI investment July 26, 2019 Softbank has unveiled its second mammoth Vision Fund, which it said will have $108bn (£87bn) to invest in AI-focused tech firms. Read more: Softbank earns $11bn for selling some of its huge Alibaba stake Softbank said it has received backing from a string of companies including Apple, Foxconn, Microsoft and Standard Chartered, while the Japanese [...]
Clearing house LCH drafts in Credit Agricole executive as new CEO July 25, 2019 Global clearing house LCH has drafted in a former top boss of Credit Agricole as its new chief executive. Isabelle Girolami is set to take on the role of chief executive in November, taking over from Martin Pluves as he begins a new role as head of the Fixed Income, Currency and Commodities Markets Standards [...]
MPs turn up the heat on Standard Chartered boss over pension pay row July 22, 2019 Standard Chartered’s under-fire boss is facing mounting pressure from politicians following a major fallout with shareholders over his controversial pay packet. Chief executive Bill Winters has come under fire today from public figures over a pension pay row that has rocked the firm’s relationship with its investors over recent weeks. Read more: Judge dismisses Credit [...]
Shareholders rebel at Homeserve over ex-director payouts July 19, 2019 Shareholders dealt home repairs company Homeserve a bloody nose today as 30 per cent voted against the directors’ pay report. Read more: Homeserve maintains strong outlook as investors toast success across the pond Advisory firm Institutional Shareholder Services (ISS) had recommended Homeserve shareholders vote against the remuneration report – which lays out directors’ pay – [...]
Auditors ‘should have unlimited access’ to avoid another Carillion July 14, 2019 Companies could reduce the risk of Carillion-style corporate collapses by giving internal auditors “unrestricted access” to the workings of their business, according to an industry group. Furthermore, firms should let auditors attend all executive committee meetings, according to the Chartered Institute of Internal Auditors (IIA). Read more: Should the audit and consultancy arms of the [...]
Dubai port owner DP World snaps up Topaz Energy in $1bn deal July 1, 2019 Port operator DP World has bought Topaz Energy and Marine for $1bn (£789m) from Standard Chartered and Renaissance Services. The Dubai-based firm, which is the world’s largest port operator, today confirmed it has secured the takeover subject to regulatory approval. Read more: Dubai port owner DP World holds steady as home market shrinks Topaz provides [...]
Facebook launches cryptocurrency with backing of Uber, Visa and Spotify June 18, 2019 Facebook has today published the white paper for its widely anticipated cryptocurrency initiative, with the founding support of several major businesses across multiple sectors. Named libra after the Roman unit of measure once used to mint coins, the cryptocurrency will be managed by an independent eponymous association consisting of 28 initial founding companies. Alongside Facebook [...]
Facebook poaches Standard Chartered executive ahead of cryptocurrency launch June 14, 2019 Facebook has hired a senior Standard Chartered executive as it gears up to launch a cryptocurrency and financial services business, according to reports. Standard Chartered’s European head of corporate and public affairs Ed Bowles is set to join the social media giant in September as director of public policy, the Financial Times reported. The role [...]
Three reasons why the UK stock market looks compelling May 31, 2019 Whatever the opposite of a sweet spot is, many investors think UK equities are currently in one. With Brexit still unresolved, some have put the market in the “too difficult” basket. While it is understandable to fear uncertainty, as stock pickers we embrace the mis-priced opportunities created by it. The global nature of the market [...]