Private Credit Borrowers Face Rising Interest Rates
Private credit borrowers in London are grappling with higher costs as interest rates increase, impacting loans and refinancing deals in the corporate sector.
Category : Corporate
Rolls-Royce Scraps 2030 All-Electric Target
Rolls-Royce has reversed its pledge to go fully electric by 2030, citing client demand for V12 engines and changing market conditions. The luxury carmaker will continue selling combustion engine vehicles.
PwC CEO: AI-Reluctant Partners Have No Future at Firm
PwC's US CEO Paul Griggs warns that partners who fail to adopt AI will be replaced, as the firm shifts to AI-powered services and adjusts hiring strategies amid industry growth.
Fund CEOs Get Biggest Pay Bumps Last Year
Analysis reveals which fund CEOs received the largest salary increases, highlighting trends in executive compensation within the financial sector.
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Ex-Battersea Power Station Boss Sues Owners Over Dismissal
The former CEO of Battersea Power Station has launched a high-profile legal action against the Malaysian owners, alleging wrongful dismissal after raising whistleblowing concerns about financial misreporting.
Investec Signals Modest Earnings Growth in Latest Update
South African investment group Investec forecasts modest earnings growth for the year, with earnings per share expected to rise 3-6% despite macroeconomic headwinds and a 4.6% share price drop.
MFS Founder Paresh Raja Hit With Global Freezing Order
Paresh Raja, owner of collapsed lender Market Financial Solutions, faces worldwide asset freeze and spending restrictions after fraud allegations and £1.3bn shortfall.
AI Won't Replace Human Judgment in Auditing, Says FRC Chief
Financial Reporting Council CEO Richard Moriarty argues auditors' professional skepticism and fine judgments remain irreplaceable by AI, while addressing audit reform setbacks and private equity interest in the sector.
Zopa Bank Profits Jump 42% Despite Motor Finance Hit
Zopa Bank reports third consecutive profitable year with 42% pre-tax profit increase, but warns of being 'penalized' by FCA's motor finance redress scheme requiring £7.9m provision.
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HSBC Plans Up to 20,000 Job Cuts via AI Overhaul
HSBC is considering cutting up to 20,000 jobs as part of a major restructuring plan driven by artificial intelligence, aiming to boost efficiency and reduce costs significantly.
LSEG Executives Join OSTTRA After KKR's $3.1bn Buyout
Four senior London Stock Exchange Group employees have moved to post-trade services firm OSTTRA, strengthening its leadership team after its acquisition by private equity giant KKR last year.
Justin Trudeau to Headline EuroFinance International 2026
Former Canadian Prime Minister Justin Trudeau will deliver a keynote at EuroFinance International 2026, addressing Europe's treasury executives on geopolitical risk, economic resilience, and navigating global volatility in uncertain times.
City AM Awards 2026 Finalists: London's Business Elite Revealed
The prestigious City AM Awards return with an exceptional lineup of finalists across multiple categories, showcasing London's most influential business leaders, companies, and innovators. Winners will be announced at the Guildhall on May 6, 2026.
Kid Rock Slams DOJ-Live Nation Settlement in Antitrust Case
Kid Rock expressed shock at the Justice Department's settlement with Live Nation, questioning why the antitrust trial wasn't allowed to proceed. The rocker was set to testify alongside other industry figures.
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Court Reinstates Studio Heads After Krafton CEO's ChatGPT Plan
A US court has ordered Krafton to reinstate Unknown Worlds' leadership after its CEO used ChatGPT to try to avoid paying a $250 million earnout bonus, following the studio's acquisition.
Victory Capital Raises Offer in Janus Henderson Bidding War
Victory Capital has increased its cash-and-stock offer for Janus Henderson to $40 per share, intensifying the bidding war with Trian Fund Management and General Catalyst.
Bank of America Settles Epstein Survivors' Lawsuit
Bank of America has reached a settlement in a civil lawsuit alleging it facilitated Jeffrey Epstein's sexual abuse by ignoring suspicious transactions. The deal awaits judicial approval.
Starbucks Shareholders Seek Board Ouster Over Union Stalemate
Starbucks shareholders are campaigning to remove board members Jørgen Vig Knudstorp and Beth Ford, citing stalled union negotiations and escalating labor disputes since 2021.
Close Brothers Cuts 600 Jobs, Boosts AI as Shares Plunge
Close Brothers banking group announces 600 job cuts and rapid AI rollout to cut costs, as shares tumble over a £300m provision for the UK motor finance scandal.
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Warner Bros CEO Zaslav in Line for $700M Payout
Warner Bros Discovery CEO David Zaslav could receive up to $700 million from the Paramount acquisition, including severance and stock awards, amid studio success at the Oscars.
Trustpilot Shares Rocket 17% on AI-Driven Profit Surge
Trustpilot's shares surged 16.9% after the FTSE 250 firm reported a near-tripling of pre-tax profit to £14.1m for 2025, crediting AI investments for boosting visibility and growth.
Close Brothers Cuts 600 Jobs After Motor Finance Scandal
Close Brothers announces a 20% workforce reduction, cutting 600 jobs by 2027, as it faces mounting losses from the motor finance mis-selling scandal and aggressive cost-cutting measures.
Experts Say 'Hope You're Well' Email Greeting Is Overused
Workplace management experts are urging professionals to abandon the clichéd 'hope you're well' email opener, calling it impersonal and dull. They recommend more thoughtful alternatives to create better connections.
Tilray Buys Brewdog US Bars After UK Acquisition
US cannabis firm Tilray Brands has acquired Brewdog's US operations, including bars and a brewery, after purchasing the craft beer giant's UK and Australian arms, resulting in significant job losses.
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UniCredit's Hostile €35bn Bid for Commerzbank Faces German Opposition
Italian banking giant UniCredit escalates its pursuit of Germany's Commerzbank with a €34.7bn hostile takeover attempt, triggering strong resistance from the German government which seeks to protect the lender's independence.
Edinburgh Trust Urges Investors to Back Exit Plan
Edinburgh Worldwide Investment Trust's chair warns shareholders that a US activist investor is likely to seize control, urging support for a tender offer as the only remaining option to avoid Saba Capital's governance overhaul.
Citigroup M&A Head Evans Joins Takeover Panel
Citigroup's UK mergers and acquisitions head, James Evans, has been appointed to the Takeover Panel, a key regulatory body overseeing corporate takeovers in the UK.
Julius Baer CEO Pay Jumps After Goldman Sachs Move
Julius Baer's CEO, Philipp Rickenbacher, saw his total compensation increase significantly after being recruited from Goldman Sachs, reflecting competitive market pressures in private banking.
Standard Chartered Hires Low for Oil and Gas M&A Leadership
Standard Chartered has appointed a new head for its oil and gas mergers and acquisitions division, signaling strategic focus on energy sector deals amid market shifts.
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Treasure Hunter Freed, Gold Coins Still Missing
Tommy Thompson, who discovered the historic Ship of Gold, has been released from prison after 10 years. He never revealed the location of 500 missing gold coins from the 1857 shipwreck, leaving investors and authorities in the dark.
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