Monday newspaper round-up: Brexit, Uber, Softbank, Arriva

By Michele Maatouk

Date: Monday 13 May 2019

Monday newspaper round-up: Brexit, Uber, Softbank, Arriva

(Sharecast News) - Lloyds Banking Group, Foxtons and Paddy Power are among almost 100 firms that will be highlighted this year by an influential investor group for failing to boost the number of women on their boards. According to documents seen by the Guardian, the Investment Association (IA), which represents City firms with £7.7tn in assets under management, is preparing to shame 94 listed companies for dragging their heels on gender diversity. It will do so by stamping their annual reports with the highest warning label. - Guardian
A senior Bank of England policymaker has warned more delay to Brexit could further depress business investment and damage the long-term economic outlook. The Bank's deputy governor, Ben Broadbent, said a delay beyond the new deadline of 31 October would harm Britain's prospects as it faced the longest run of falling business investment since the second world war. - Guardian

Uber's market debut on Friday means that 2019 is already the biggest year on record for American tech floats, creating an unprecedented amount of new wealth for their early investors, according to research. A report from the market analysis firm CB Insights put the total "exit value" of this year's US floats at $130bn (£105bn), narrowly beating the current record of $129bn in 2012, which was mainly driven by Facebook's $104bn public offering. - Telegraph

Softbank is poised to invest £500m in a venture led by former Citigroup banker Lex Greensill, in a move that would value his British fintech company at around £3bn. A City source said that a deal between the two companies could be announced as early as Monday. - Telegraph

John van Kuffeler could be forgiven for having other things on his mind when he celebrates his 70th birthday with a party at a London art gallery tomorrow evening. The fate of his £1.1 billion hostile bid for the doorstep lender Provident Financial will be decided the following day. It is a takeover that was Mr van Kuffeler's to lose. - The Times

Arriva has become the second train operator in a week to launch legal action against the government over its handling of a rail contract. The company is suing the Department for Transport over the award of the East Midlands franchise to Abellio, a Dutch rival. The move comes after Stagecoach, another train operator, said last week that it would take legal action over the same contract. - The Times


Email this article to a friend

or share it with one of these popular networks:

Top of Page