Horse racing: Bet on Simcock’s Breton to Rock Criterion rivals at Newmarket June 23, 2016 Although it was the summer solstice on Monday, the ground at Ascot last week and at Newmarket this weekend will be more akin to Newbury or Cheltenham in December. The forecast for next week looks better, but there’s been plenty of rain recently at HQ and conditions are certain to be testing on Saturday. The [...]
EU referendum: Markets cast their votes early as sterling and FTSE 100 rally as polls open June 23, 2016 We may not know what the result of the referendum will be until the small hours, but the markets seem to understand which way the country is heading already. After polls last night showed a swing to Remain in the final days of campaigning, the pound rallied against the dollar, hitting its highest level of [...]
HSBC shares rise as it agrees $1.6bn settlement with Household International shareholders June 17, 2016 HSBC has reached a settlement with shareholders after a dispute over its acquisition of Household International, back in 2003. The company said it will pay just under $1.6bn (£1.1bn) to shareholders after a class action lawsuit filed in 2002. HSBC bought the company for $14.2bn back in 2003, in an effort to increase its share of [...]
Horse racing betting: Keep it Quiet in the Commonwealth Cup June 16, 2016 They may be outnumbered in Friday afternoon’s Commonwealth Cup (3.40pm), but I’m backing a filly to come out on top in the battle of the three-year-old sprinters. Only three fillies stand their ground against nine colts in the second running of one of the feature races on the penultimate day of Royal Ascot. However, in [...]
Investment firm LetterOne headed up by Russian billionaire Mikhail Fridman launches health business in US June 6, 2016 LetterOne, the investment vehicle owned by Russian tycoon Mikhail Fridman, has launched L1 Health in the US and appointed Diageo chairman Dr Franz Humer to the firm's advisory board. L1 Health will target up to $3bn (£2.1bn) of investments in the global healthcare sector over the next three years "with the goal of making sizeable equity investments in businesses [...]
A family affair: How Ben and Ollie Black built their childcare empire June 6, 2016 Two minutes with the Black brothers and Laurel and Hardy come up. “You know, ‘another fine mess you’ve got me into’,” says Oliver Black, describing how he initially conceived of working with his brother. “I spent Christmas trying to convince Ollie that I knew about buying a company,” says Ben Black. The pair bought failing childcare [...]
Arsenal aim to wrap up deal for Leicester’s Jamie Vardy this weekend before England travel to Euro 2016 June 4, 2016 Arsenal are in talks with Leicester City about triggering Jamie Vardy's release clause and want to complete any deal for the England striker this weekend. City A.M. understands that although negotiations are still in their early stages, Arsenal want to have the transfer wrapped up before Vardy travels to France for Euro 2016 with the rest of the England squad [...]
BP has agreed to shell out another $175m over Deepwater Horizon June 3, 2016 BP agreed to settle with shareholders for $175m (£121.4m) last night over a class action lawsuit sparked by the Deepwater Horizon incident. In a brief statement issued by the company, it noted that the settlement will be dished out to shareholders during 2016-17. In 2010, the Deepwater Horizon rig exploded, killing 11 people and spewing [...]
The City gears up for a very horsey weekend with the Investec Derby and Chestertons Polo in the Park May 31, 2016 'Tis the season of summer hats, high society and equestrian sport, but don't worry if you can't get out of London to watch the races. International polo is set to return to Fullham this Friday, with eight teams from around the world set to compete at this years' Chestertons Polo in the Park. The tournament [...]
Buy to let investors are feeling the heat: What are the alternatives for gaining exposure to residential property? May 26, 2016 The buy-to-let boom of recent years has fed the stereotype that Brits are uniquely obsessed with property. Yet statistically this appears to be little more than a myth. The latest data from Eurostat show that 64.8 per cent of the UK adult population lives in a property they own compared to an EU average of [...]