Democratic National Convention: Bernie Sanders and Michelle Obama urge unity around Hillary Clinton July 26, 2016 In stark contrast to the Republican convention, leading Democrats at different wings of the party have come together to urge unity around Hillary Clinton. At the Democratic National Convention, hosted this week, once-upon-a-time rival Bernie Sanders not just endorsed Clinton but pleaded to the party to unite around her. "Hillary Clinton must become the next [...]
Diageo to chase Indian tycoon and former United Spirits chairman Vijay Mallya for £138m in “improper transactions” July 11, 2016 Diageo is pursuing Indian business tycoon Vijay Mallya to recover an estimated 12bn rupees (£138m) in funds it claims were stolen from its subsidiary United Spirits between 2010 and 2014. The drinks company said in a weekend notice to the Bombay Stock Exchange that an investigation had uncovered "improper transactions" during Mallya's time as chairman. [...]
Autumn Budget 2017: Chancellor Philip Hammond’s speech in full November 22, 2017 You can read the chancellor's Budget speech in full here: Mr Deputy Speaker I report today on an economy that continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down. An economy set on a path to a new relationship with our European [...]
Shares rally on US Supreme Court decision June 25, 2015 SHARES in US hospitals surged yesterday after the US Supreme Court upheld subsidies for individual Americans under President Barack Obama’s signature healthcare law. Shares of several hospital groups hit all-time highs on the decision, with investors welcoming the news that millions of insurance customers created by the 2010 Affordable Care Act (ACA), more often called “Obamacare”, [...]
Editor’s 2016 review: It’s been a year of momentous political change, but there’s every reason to look to the future December 22, 2016 Attempting to reflect such an extraordinary year with just a handful of our own front pages was always going to be difficult, but I thought we’d give it a go. The front page of City A.M. is (to borrow a phrase from our marketing department) the front door of our brand. The choice of splash, [...]
How we’ll legally leave the EU: Article 50 case to be heard in October July 19, 2016 A case brought to challenge how Article 50 will be triggered is due to be heard by the courts in mid-October. No precise date was set in a hearing at the High Court today, but the judges said it was probably to be before 15 October. Sir Brian Leveson, who was one of the judges [...]
French court orders Societe Generale to pay Jerome Kerviel €450,000 for unfair dismissal June 7, 2016 Societe Generale has today been ordered to pay €450,000 (£350,171) to former employee Jerome Kerviel on the grounds the ex-trader was unfairly dismissed, according to various reports. Kerviel has previously been found guilty for breach of trust and fraud, with his unauthorised trades losing the bank €4.9bn in 2008 in an incident that is one of the largest of its kind. The French [...]
Healthcare stocks rise after Supreme Court Obamacare decision June 25, 2015 Healthcare stocks in the US were up after Barack Obama’s Affordable Care Act (ACA) won an important victory today. Up for debate was whether subsidies would be available to people in all 50 states, or just those which set up insurance marketplaces under the act. The court ruled the subsidies should be available universally. [...]
Ex-United Spirits boss Vijay Mallya might well be one of the world’s most indebted men after he travelled out of India with $1.4bn of debt March 11, 2016 Is the UK accidentally harbouring one of the world's most indebted men? Indian drinks boss Vijay Mallya has had to vigorously himself from claims he has become one of the world's most impressive absconders, after it was suggested in the country's Supreme Court that he flew out of India to London on 2 March, leaving some $1.4bn (£980m) in debts. [...]
Tom Hayes’ crowdfunding campaign breaks £20,000 mark June 6, 2016 Tom Hayes' crowdfunding campaign is gaining pace, having recently broken the £20,000 mark. The former UBS and Citigroup trader has turned to Fundrazr in an attempt to raise £150,000 to pay towards his legal costs of appealing to the Criminal Cases Review Commission. At time of writing, the campaign had raised £21,110, having previously been stalled around the [...]