General Election 2015: Michael Bloomberg backs David Cameron and asks Britain to let the Tories finish the job April 29, 2015 David Cameron has received the endorsement of billionaire businessman and former mayor of New York Michael Bloomberg. Bloomberg writes that he rarely endorses national political candidates but is making an exception for David Cameron in the same way he made an exception for Barack Obama in 2012. "David Cameron's gutsy decisions and strong leadership have [...]
“Flash crash” trader Navinder Singh Sarao remains in custody as court grants extra seven days to raise £5m bail April 29, 2015 Navinder Singh Sarao, the man charged with contributing to the "flash crash" of 2010, has been remanded in custody for another seven days after failing to pay £5m bail. A court today granted Sarao the extra time to raise cash as he fights extradition to the US over his alleged involvement in the crash which [...]
Sainsbury’s vs Egypt: The four key numbers behind Mike Coupe’s legal row April 29, 2015 Sainsbury's today denied that chief executive Mike Coupe tried to seize cheques linked to the collapse of an Egyptian business the supermarket invested in 16 years ago. This comes after his sentencing to two years in prison amid allegations of embezzlement by an Egyptian court. Coupe was found found guilty in absentia after he failed to [...]
Greek finance minister Yanis Varoufakis attacked in Athens restaurant April 29, 2015 Poor Yanis Varoufakis. Not only has the Greek finance minister had to endure being sidelined by his boss – he's now been attacked by anarchists in an Athens restaurant last night, as he had dinner with his wife, according to reports. Varoufakis said he was eating in the Exarhia district of the Greek capital, an area popular [...]
Sainsbury’s share price drops after chief executive Mike Coupe is sentenced to two years in an Egyptian jail April 29, 2015 Sainsbury's has strongly denied any wrongdoing after its chief executive Mike Coupe was sentenced to two years in prison for alleged embezzlement. Coupe was compelled to attend a court hearing in Giza, Egypt in September after he was accused of attempting to seize cheques linked to a business the supermarket invested in 16 years ago. [...]
David Cameron’s tax freeze pledge: Tories will not raise income tax, National Insurance, or VAT April 28, 2015 The Conservative party will today pledge a cast-iron guarantee that it will not raise the rates of income tax, National Insurance (NI) or VAT during the next parliament, should David Cameron be returned to Downing Street. A law preventing any increase in the three taxes – which account for over 60 per cent of tax [...]
Alliance Trust gets a year to show results as Elliott Advisors gives 12 months’ notice April 28, 2015 Investment firm Alliance Trust has been put on 12-months’ notice by activist investor Elliott Advisors to show results or be forced to change its strategy. In a vicious battle over the past month, both sides have been rallying support among shareholders, with Elliott pushing for three new directors to join the board, and Alliance [...]
Who’s the fastest City London Marathon runner? Capco star Andy Greenleaf steals a march on Mark Carney April 28, 2015 Who is the fastest runner in Canada? The Capitalist has challenged City runners to beat the banker by submitting their Virgin Money London Marathon race times and we've already seen some pretty impressive times come in. Fit as a proverbial fiddle, Bank of England governor Mark Carney was commended for completing [...]
Alexis Tsipras defends Yanis Varoufakis and says Greece will reach deal with creditors by end of next week April 28, 2015 Greece is on the verge of securing a bailout agreement with its EU creditors, according to the struggling nation's Prime Minister. During an interview on Greece's Star TV last night, Alexis Tsipras said the final and most important stage of talks had been reached, and that an interim deal is likely to be achieved by [...]
“Flash crash” trader Navinder Sarao expected to return to London court tomorrow after failing to pay bail April 28, 2015 So-called “flash crash” trader Navinder Sarao is expected to appear in court tomorrow after failing to raise the bail needed to secure his release from custody. Sarao was arrested last week for allegedly manipulating the markets and contributing to the flash crash of May 6, 2010, which wiped billions off the value of US [...]
