• Investing

    SHARE PUNT OF THE WEEK: AIM- listed training company Malvern International has schools in London, Singapore and Malaysia

    WHO IS IT? Malvern International, an AIM-listed training company with schools in London, Singapore and Malaysia, has recently bought an English language school in Manchester and launched online services in a bid to build its UK customer base.It focuses on English language courses as well as accounting and business, and last year it enrolled more than 7,000 students.WHAT’S THE LATEST The firm recently raised £4million to fund its Manchester acquisition and to further grow the business.It has secured a collaboration with Oxford University Press and partnered with the University of East London to provide courses in English as a ...

    9029
  • Markets

    DAILY BRIEFING: Half the population braced for interest rates rise over next 12 months, Bank of England study finds

    RATE RISE Half the population are braced for a rise in interest rates from 0.5 per cent over the next 12 months, a Bank of England study has found.CAR BOOST Customers borrowed £1.6billion to buy cars in April – up 31 per cent on a year earlier. A total of 81,734 cars were bought with loaned cash during the month, a rise of 27 per cent, said the Finance & Leasing Association.ROMAN RUINS Markets in Italy have suffered further stress as investors fret about its new Eurosceptic leadership. It suggests investors see Italy as a risk after a coalition hostile to ...

    9029
  • Markets

    Henri Lloyd is next High Street shop to go bust: Sailing fashion retailer has seven stores around the UK

    Henri Lloyd is the latest High Street retailer to go bust.The sailing fashion retailer, which was founded in Manchester in 1963 and counts the Duchess of Cambridge among its fans, has seven stores around the UK.It had earned a reputation for innovation in the designs of its waterproof clothing. Bust: Henri Lloyd, which was founded in Manchester in 1963 and counts the Duchess of Cambridge among its fans, has seven stores around the UKHenri Lloyd’s clothes are sold in House of Fraser, which yesterday announced it planned to shut 31 stores.RSM Restructuring Advisory, the appointed administrators, said Henri Lloyd had ...

    9029
  • Markets

    MARKET REPORT: US billionaire Charlie Ergen's Echostar Corporation makes a £2.1bn swoop for UK satellite maker Inmarsat

    As the bell rang for the close of the market last night, another British technology company revealed it was being preyed on by a foreign firm.Satellite pioneer Inmarsat has rejected a £2.1billion takeover bid from US billionaire Charlie Ergen’s Echostar Corporation.Directors said the ‘highly preliminary’ bid significantly undervalued the technology leader and its prospects as a stand-alone business. They confirmed the approach following speculation on the FT Alphaville blog.Shares had soared to a three-month high by mid-afternoon before the bid was confirmed. They closed up 13.48 per cent, or 56.3p, at 473.9p. Based on that price, Inmarsat is worth £2.1billion. ...

    9029
  • Markets

    City watchdog accused of 'watering down' the rules for Saudis in bid to bag the £1.5 trillion float of oil firm Aramco

    The City watchdog has been accused of watering down protection for small investors in a bid to bag the £1.5 trillion float of oil firm Aramco.Financial Conduct Authority rules would allow the Saudi government-controlled firm to be included in the premium section of the London Stock Exchange, without meeting the same requirements as other listed firms.The plans drew criticism from the Institute of Directors, which said the watchdog was putting London's reputation for high standards at risk.    

    9029
  • Comment

    ALEX BRUMMER: BT boss Gavin Patterson is kicked into touch having failed to tackle poor customer service

    By the standards of chief executives at BT, the five-year tenure of Gavin Patterson is par for the course. There have been achievements, notably the swoop on EE which underpinned BT’s domination of UK telecoms.If Patterson had a core weakness it was inattention of the less glamorous side of the enterprise, notably the weak performance of Openreach, the failure to tackle poor customer service smartly and pedestrian broadband roll-out.What caused chairman Jan du Plessis to show Patterson the red card was the failure of last month’s strategy announcement, which included the dismissal of 13,000 middle-mangers, to gain any traction on ...

    9029
  • Markets

    He's definitely in the money: Sainsbury's boss caught singing after unveiling Asda takeover was paid £3.4m last year

    Sainsbury's boss Mike Coupe was caught singing 'We're in the money' on televisionThe Sainsbury's boss caught singing 'We're in the money' after unveiling a takeover of Asda was paid £3.4million last year.Mike Coupe – who masterminded the blockbuster £7.3billion tie-up – saw his pay packet rise by 46 per cent in the year to February.He earned a base salary of £943,000, plus benefits of £17,000 such as a car allowance and £283,000 towards his pension. The 57-year-old was also handed bonuses worth £2.2million.Coupe was recorded singing show tune 'We're in the money' inbetween TV interviews to explain the reasons ...

    9029
  • Comment

    BIG SHOT OF THE WEEK: Starbucks executive chairman Howard Schultz seems a few beans short of a latte

    Coffee king: Starbucks’ executive chairman Howard SchultzA double short non-fat latte, three-quarters full. That’s the morning coffee order of Starbucks’ outgoing executive chairman Howard Schultz.What it gets you, Lord only knows. As well as revolutionising the coffee business, Schultz’s ubiquitous cafes have created an indecipherable vernacular all of its own.All I can tell you is that he gets through five of them a day.Schultz is departing 30 years since acquiring the famous Seattle company, which he has converted from a mundane, single branch coffee bean store into one of the world’s most famous brands, churning out more than £20billion ...

    9029
  • Markets

    The £3.5million cost of failure: Sacked BT boss stripped of lucrative share deal as a global hunt for boss begins

    Gavin Patterson will lose a £3.5million bonus after he was ousted from his job as BT's chief executive.The 50-year-old's departure was announced by chairman Jan du Plessis yesterday following an investor revolt.Although Patterson will keep his full pay and perks until a replacement is found, he will be stripped of a lucrative share award that was supposed to pay out this year. Ousted: Gavin Patterson's departure was announced by chairman Jan du Plessis yesterday following an investor revoltThis award would have given him shares worth around £3.5million if they had vested in full. Payouts for Patterson had already sparked controversy after ...

    9029
  • Podcast

    What next for bitcoin and will it rise again? Listen to the This is Money podcast

    Whatever happened to bitcoin? After the mania at the end of last year when the price spiked to almost $20,000, the cryptocurrency took a tumble but more noticeably attention has drained away.You need no greater sign of that than figures showing bitcoin Google searches are down 90 per cent.That adds weight to the argument that much of the late 2017 big leg-up was driven by mainstream punters jumping on the cryptocurrency bandwagon.So with bitcoin largely out of the headlines, is that it for the cryptocurrency or is it time to buy for the long-term when things are quiet?On this week’s ...

    9029
  • Markets

    City watchdog opens the door for £1.5 TRILLION London listing of oil giant Saudi Aramco with controversial rule changes

    Controversial new rules that could allow state-owned companies to sidestep key requirements for premium listings on the London Stock Exchange have been finalised by the Financial Conduct Authority (FCA).The FCA's creation of a new category from 1 July will mean sovereign-controlled companies such as Saudi Arabia's national oil company Saudi Aramco don't have to sign up to a 'controlling shareholder agreement', nor will they need shareholder approval for 'related party transactions'.The finalised rules, which follow an FCA consultation launched last year, are expected to make London more appealing for a mooted £1.5trillion Saudi Aramco listing. London listing: Amin al-Nasser, CEO ...

    9029
  • Markets

    FTSE LIVE: BT boss Patterson to exit after slashing 13,000 jobs as company struggles to turn fortunes around; Brewer Fullers sees sales uptick despite tough pub market

    BT chief executive Gavin Patterson will depart later this year as the company seeks new leadership for it turnaround efforts. The telecoms giant said expects to have a successor in place during the second half of the year, with Patterson staying in his role until then. It comes after the company announced the slashing of 13,000 jobs as it tries to get on a better financial footing. The wider stock market is down into the red as we head in the weekend with a raft of political issues including Brexit weighing on investor sentiment.

    9029
  • Markets

    Growth on the menu for luxury office catering website City Pantry as it serves up in Silicon Valley

    A London tech company that serves up posh lunches to staff at Silicon Valley’s biggest firms is set to expand in the UK.City Pantry uses its website to work with restaurants to deliver over 20,000 meals a week to 500 firms.Founder Stuart Sunderland is now looking northwards, to cities such as Manchester, after raising £4million from investors. It has found success as companies organise staff lunches, where workers from different parts of the business rub shoulders – and swap ideas.  Sunderland, 34, said: ‘People spend most of their lives at their workplace but they probably don’t know most of the people ...

    9029
  • Markets

    M&S chief loses his £3m bonus after shutting 100 shops and seeing profits plunge

    Pay cut: Marks & Spencer boss Steve Rowe has had his pay cut by 30%Marks and Spencer boss Steve Rowe has had his pay slashed by 30 per cent, losing all his bonus after a dive in profits.The chief executive's pay has been cut from £1.6million to £1.1million, a sum which could now make him the worst-paid boss in the FTSE 100 this year.Bonuses were axed as M&S tries to turn around its flagging fortunes. But Rowe suffered most – he stands to get £4.2million if he were to hit all his targets.None of the firm's 81,000 staff will ...

    9029
  • Cars

    Audi reveals its all-new Q8 SUV as the battle of the luxury 4X4s with sporting aspirations intensifies

    You may not think that the world needs another large £80,000 SUV with sporty aspirations, but Audi certainly does.The German carmaker today took the wraps off its new flagship Q8 sports utility vehicle at its global launch in China. And instead of being bigger than the already super-sized Q7, as the model numbering might suggest, this is Audi’s answer to the growing number of top-end 'sporty' off-roaders, including Britain’s Range Rover Sport, BMW’s X6, Mercedes-Benz’s GLE Coupe and the Maserati Levante. Audi's new sleek SUV: The Audi Q8 will become the German brand's range-topping 4X4 when it goes on sale in ...

    9029

Celebrity News