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.... If you had then said that this first prosecution would relate to suspected fraud over one bank’s supposed attempt to avoid nationalisation – rather than the crash itself – the bankers involved in the crisis would have laughed in disbelief: surely, they aren’t going to let us get away with that?. But they did: the bankers who played a central role in the worst crash of the postwar era walked away with their fortunes and freedom intact. ... [Read full article on Guardian ]
Friday 23rd of June 2017 06:39:41 PM
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....”. The fall in the pound and tougher backdrop for household finances has also hurt the fortunes of some UK focused companies. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 11:01:08 PM
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.... On the one hand there’s the Cambridge you think you know: university, Tom Sharpe, Footlights, the Backs, the Festival of Nine Lessons and Carols, all of that gubbins. On the other, money, money, money, as thousands pour into the city hunting biotech jobs, nerd fame and geek fortune. ... [Read full article on Guardian ]
Friday 23rd of June 2017 03:30:33 PM
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Latest Finance News related to Fortune

Jailing Barclays bankers won’t save us from another financial crash | Joris Luyendijk image
.... If you had then said that this first prosecution would relate to suspected fraud over one bank’s supposed attempt to avoid nationalisation – rather than the crash itself – the bankers involved in the crisis would have laughed in disbelief: surely, they aren’t going to let us get away with that?. But they did: the bankers who played a central role in the worst crash of the postwar era walked away with their fortunes and freedom intact. ...
Let’s move to Cambridge: ‘Ancient university and biotech boom town’ image
.... On the one hand there’s the Cambridge you think you know: university, Tom Sharpe, Footlights, the Backs, the Festival of Nine Lessons and Carols, all of that gubbins. On the other, money, money, money, as thousands pour into the city hunting biotech jobs, nerd fame and geek fortune. ...
Global demand for coal falls in 2016 for second year in a row image
Source : Guardian [Read Article] Tuesday 13th of June 2017 01:50:27 PM
....The 1. 7% fall in worldwide consumption in 2016 marks a striking reversal of fortune for coal, which was the largest source of energy demand growth until four years ago, BP said. ...
Our leaders have lost touch with reality – just like the banks did | Aditya Chakrabortty image
....This isn’t simply about calling last Thursday’s election wrong. On such fortune-telling, whether in economics or politics, I’m with the baseball-playing philosopher Yogi Berra: “It’s hard to make predictions, especially about the future. ...
Revealed: reality of life working in an Ivanka Trump clothing factory image
Source : Guardian [Read Article] Tuesday 13th of June 2017 04:02:30 AM
.... The president took issue with Indonesia’s $13bn surplus last year and vowed to penalise “cheating foreign importers”. The fortunes of Ivanka’s brand have fluctuated wildly in the past year. ...
Tech shares keep sinking amid concerns sector is slowing image
Source : Guardian [Read Article] Monday 12th of June 2017 04:33:15 PM
Like to make music? Turn your tunes into an income stream image
Source : Guardian [Read Article] Saturday 10th of June 2017 06:00:18 AM
.... Occasionally, however, they will stumble upon something they wrote. Lyu was recently amused to learn that someone had used one of his pieces, an electronic track called Breaking Down, on the YouTube trailer for a raunchy-sounding novel called Attracted to a Woman, about a seemingly perfect, churchgoing couple secretly addicted to “fortune and flesh”. ...
Germany fears big losses over tax scandal image
Source : BBC [Read Article] Thursday 8th of June 2017 11:14:16 PM
.... And gradually it is emerging that large-scale tax avoidance was taking place right under the noses of the authorities. And that - in some cases - they turned a blind eye to practices employed, not just by individuals out to make a fortune, but by some of the country's biggest banks and respected businesses. ...
Boohoo co-founder sells £80m in shares as he reveals 'supersite' plan image
.... A spokesperson for the company said Boohoo had yet to decide on a location for the 600,000 sq ft facility. The upbeat outlook from Boohoo was in sharp contrast to the fortunes of its rival Topshop, part of Sir Philip Green’s retail empire, where UK sales fell for the first time in more than a decade. ...
Sir Philip Green's retail empire reels from BHS closure and Topshop fall image
.... Profits were also affected by a one-off £81m write-down on the value of the group’s stores and a £22m provision for loss-making stores and onerous leases. Green is said to have called in McKinsey management consultants to help him turn around Arcadia’s fortunes and allow the company catch up with rivals in online shopping. ...
Relieved RBS bosses should spare a thought for the claimaints image
Source : Guardian [Read Article] Wednesday 7th of June 2017 02:27:31 PM
....The current chief executive of RBS, Ross McEwan, will also be relieved. He has made no secret of the fact that he regards the legal claim as a huge distraction from his day job of trying to improve RBS’s fortunes. ...
The Guardian view on the economy: invest for growth | Editorial image
Source : Guardian [Read Article] Tuesday 6th of June 2017 07:08:11 PM
. On the day that former Royal Bank of Scotland boss Fred Goodwin escaped explaining in court how he crashed the business and lost billions of pounds during the 2008 financial crash, it is timely to consider Britain’s post-election economic fortunes. ...
Adnan Khashoggi: Saudi billionaire arms dealer dies aged 82 image
Source : BBC [Read Article] Tuesday 6th of June 2017 06:37:25 PM
....The businessman, whose late sister Samira was married to former Harrods chief Mohamed Al Fayed, was an uncle of Princess Diana's final love, Dodi Fayed. Adnan Khashoggi was the embodiment of the extraordinary riches that the petrodollar brought to his homeland, Saudi Arabia - although his fortune was made in arms deals rather than oil. ...
Cold revolution  image
Source : BBC [Read Article] Sunday 4th of June 2017 11:01:37 PM
....Needless to say, this was not a scalable solution. At least, not until the 19th century, when Boston entrepreneur Frederic Tudor amassed an unlikely fortune doing something similar. ...
Philip Green fashion empire hit by 16% fall in profits image
Source : Guardian [Read Article] Sunday 4th of June 2017 03:29:15 PM
.... The company did not pay a dividend. Green is said to have appointed management consultants at McKinsey to try to help him turn around Arcadia’s fortunes and help the company catch up with rivals in online shopping. ...
WPP needs a big name to follow Sir Martin Sorrell image
Source : Guardian [Read Article] Sunday 4th of June 2017 06:00:16 AM
.... You know the ones: the (hypothetical) float of KGB Mining where the founder, Vladimir Takyorneekapov, still owns 80% of the shares. Huge investment banks once made fortunes from such floats: they calmed investor nerves by (perhaps) taking some risk themselves and parking Takyorneekapov’s stake on their own balance sheet. ...
Jeff Bezos: the 'obsessive' Amazon founder and world's next richest man image
....3bn, according to the Bloomberg Billionaires Index. Bezos’ fortune has soared thanks to a sharp rise in Amazon’s share price, which has gone up by one-third so far in 2017, valuing the company at $475bn and Bezos’s stake of roughly 17% at more than $80bn. ...
Fresh bid to oust Unite union boss Len McCluskey image
Source : BBC [Read Article] Friday 2nd of June 2017 04:59:05 AM
....The timing of the challenge was dictated by legal requirements, not the general election, he said. But a Unite spokesman said: "Unite members will be deeply disappointed that Mr Coyne has chosen this critical moment in the fortunes of the labour movement to launch an unnecessary attack on his own union, something which can only help the floundering Tories. ...
Sir Stelios Haji-Ioannou pledges to give half of £2bn fortune to charity image
. The easyJet founder, Sir Stelios Haji-Ioannou, has promised to give more than half of his £2bn fortune to charity after he was “inspired” by the world’s richest man, the Microsoft billionaire and philanthropist Bill Gates. ...
Whole Foods represents the failures of 'conscious capitalism' | Nicole Aschoff image
.... A potential forced sale, most likely to private equity investors known for slash-and-burn tactics, remains on the near-term horizon. The point of this dour appraisal is not to crow over Whole Foods’ misfortune. ...
Millennial ‘influencers’ who are the new stars of web advertising image
Source : Guardian [Read Article] Saturday 27th of May 2017 11:05:41 PM
....6 million followers on Instagram, making her one of the cult celebrities of the social media world. Unlike Taylor Swift, Beyoncé et al, who have all made their names elsewhere and maintain fanbases on the photo-sharing platform, Ferragni has found fame and fortune solely by publishing photographs of herself wearing a variety of designer ensembles in a range of glamorous locations. ...
Spotify hopes going public will cement streaming as music's future image
Source : Guardian [Read Article] Saturday 27th of May 2017 10:00:25 AM
.... A direct listing only allows investors to buy shares through the open market. The move saves a fortune in fees but also – potentially – makes the sale highly volatile as long-term investors, like pension funds, who could have bought into the pre-sale of an IPO, will only decide whether to buy in once shares start trading. ...
Fever-Tree co-founder makes £73m from selling shares image
Source : Guardian [Read Article] Thursday 25th of May 2017 07:58:04 AM
....Rolls has cashed out to the tune of £100m, because he also sold a £12m tranche of shares last year. He owes not just his fortune but apparently his life to tonic water – or at least to its key medicinal ingredient, quinine. ...
Aston Martin roars back into profit as DB11 revs up sales image
Source : Guardian [Read Article] Wednesday 24th of May 2017 05:41:58 PM
....They will be followed in 2019 by the DBX, a “crossover” model more akin to a sports utility vehicle (SUV), to be built at a new £200m plant in south Wales. The new models are designed to revive the fortunes of perhaps the UK’s most fabled car, famously driven by several iterations of James Bond. ...
Nintendo's share price hits seven-year high as Switch sales soar image
Source : Guardian [Read Article] Wednesday 24th of May 2017 01:29:39 PM
....However, the stock tumbled again after investors realised that Pokémon Go had not been developed by Nintendo or its affiliate The Pokémon Company, but instead by the developer Niantic. Nintendo, which had a small investment in Niantic, the San Francisco-based company spun out of Google, released a formal notice pointing out it was not making direct sales from Pokémon Go and hence would not be making a fortune from last summer’s worldwide craze. ...
British sports car maker Lotus bought by China's Geely image
Source : BBC [Read Article] Wednesday 24th of May 2017 11:28:43 AM
....Proton also gives Geely access to right-hand-drive markets around the world, including Malaysia, the UK, India and Australia. Proton was founded in 1983 by former Malaysian prime minister Mahathir Mohamad, but its fortunes have dwindled from national champion to being a minor player even in its own domestic market. ...
The financial benefits of getting married in retirement image
Source : Daily Express [Read Article] Tuesday 23rd of May 2017 07:53:00 PM
....”. Morrissey said family fortunes are at risk, as the family of a cohabiting couple could potentially pay tens of thousands in extra inheritance tax (IHT) compared with the heirs of a married couple. ...
Jaeger suppliers owed millions consider legal action against ex-owners image
.... In its heyday, Jaeger dressed Audrey Hepburn and Marilyn Monroe but more recently it had struggled to turn a profit on a competitive high street. After spending several years trying to revive the retailer’s fortunes, Better Capital hoisted a for sale sign at the start of this year. ...
Car loans, low rates, second mortgages: all the ingredients for a new credit crunch image
.... Until these are sorted, there is little chance of the government selling off its RBS shareholding of more than 70% – a constant reminder of the 2008 meltdown. But while this appears to set RBS apart from a Lloyds now freed from taxpayer support, the two banks’ fortunes are more closely tied than ever. ...
Asda suffers 11th quarter of falling sales image
Source : BBC [Read Article] Thursday 18th of May 2017 01:49:20 PM
....Bosses have snapped up a series of rival online businesses to try to temper Amazon's rise - particularly as the latter eyes up further expansion of its grocery delivery service. Asda had previously been the jewel in the crown for Walmart, but a focus on profits over sales has been blamed for the UK supermarket's recent poor fortunes. ...
RBS settlement has left business couple feeling 'gutted' image
Source : BBC [Read Article] Thursday 18th of May 2017 01:48:53 PM
...."It's been completely deceitful. It's been done by a government-sponsored bank with effectively my money, it's cost a fortune and our business was a good business, a perfectly good business. ...
CRUSADER: Energy firm sees light over bad bill image
Source : Daily Express [Read Article] Wednesday 17th of May 2017 02:15:00 PM
.... But we didn’t want to risk a shortfall, so reverted back to £100 a month. Then we had the bombshell that we owed a fortune. ...
Improbable sums? Cambridge graduates' tech firm raises $500m image
Source : Guardian [Read Article] Friday 12th of May 2017 08:24:58 AM
....The business was co-founded in 2012 by Herman Narula, 29, and Rob Whitehead, 26, who met while studying computer science at the University of Cambridge, and Peter Lipka, 28, an Imperial College graduate who worked at Goldman Sachs before launching Improbable. The three co-founders hold a majority equity stake in Improbable – meaning they share a paper fortune of more than half a billion dollars – with Narula holding enough voting rights to control the company. ...
Euro gives up gains as investors look to post-election France image
Source : Guardian [Read Article] Monday 8th of May 2017 04:43:41 AM
....The muted analysis was partly based on an acknowledgment of the problems facing Macron, a 39-year-old former banker who has never held elected office. He was economy minister under outgoing president François Hollande but failed to turn around the fortunes of the beleaguered government. ...
Superstar economics image
Source : BBC [Read Article] Sunday 7th of May 2017 11:30:01 PM
.... . Imagine, he said, the fortune that Mrs Billington might have made if there had been phonographs in 1801. ...
Hanging up the microphone image
Source : BBC [Read Article] Sunday 7th of May 2017 11:23:22 PM
.... . While some business bets failed, and he has had four expensive divorces, Rogers admits that living too extravagantly - even for someone earning a fortune - left him "broke" both when he was 30, and again when he was 50. ...
Making money image
Source : BBC [Read Article] Sunday 7th of May 2017 01:09:00 PM
.... . In the UK, we eat a staggering 30 million eggs every day and as chairman of Noble Foods, Peter Dean has amassed a £212m fortune from the family egg business, putting him at 534 on the list. ...
'Brexit boom' creates record number of UK billionaires image
Source : Guardian [Read Article] Sunday 7th of May 2017 12:20:36 PM
Rich List 2017: UK's super-rich carry on making billions image
Source : BBC [Read Article] Sunday 7th of May 2017 12:04:04 AM
....Of those in the top 20, only the Weston family - Guy, George and Galen Jr - lost money in the last year. They saw their fortune drop by £500m to £10. ...
Five minute guide to ever-increasing inheritance tax  image
Source : Daily Express [Read Article] Sunday 7th of May 2017 12:01:00 AM
....This means the IHT take will have doubled in a decade in what is a windfall for HM Revenue & Customs, but a disaster for ordinary Britons who are increasingly being dragged into the net. You may not be one of the super-rich, but you still have to take IHT seriously, because careful planning could save your loved ones a small fortune. ...
Where can I find a good desk chair without spending a fortune? image
Source : Guardian [Read Article] Saturday 6th of May 2017 06:00:55 AM
....I work from home and am struggling to find a comfortable desk chair that doesn’t look like it came from a call centre in 1996. Staples? Ikea? What have other home workers bought that works for them, without costing a fortune? And what to avoid?. ...
Lewis Hamilton takes pole position in Sunday Times sport rich list image
Source : Guardian [Read Article] Saturday 6th of May 2017 05:01:54 AM
. Lewis Hamilton has increased his wealth by more than £25m over the past year to take his total fortune to £131m and claim the title of the richest sportsperson in the UK. ...
Watch me, watch me image
Source : BBC [Read Article] Thursday 4th of May 2017 11:15:21 PM
. Live streaming is becoming big business, with millions of people around the world broadcasting the minutiae of their daily lives in real time to adoring fans - and making small fortunes in the process. ...
The Star Wars items worth a fortune image
Source : BBC [Read Article] Thursday 4th of May 2017 04:41:56 PM
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Former Jaeger owner: I could save it image
Source : BBC [Read Article] Thursday 4th of May 2017 03:38:06 PM
....In April the clothing chain collapsed into administration, putting 700 jobs at risk. Mr Tillman is credited with reviving Jaeger's fortunes, before it was sold to Better Capital in 2012. ...
Morrisons sales jump as recovery continues image
Source : BBC [Read Article] Thursday 4th of May 2017 07:51:41 AM
....On Wednesday, market research company Kantar Worldpanel said that Morrisons had been the fastest growing of the big four supermarket chains over the past few weeks, helped by its "The Best" line attracting more affluent shoppers. John Ibbotson, director of the retail consultancy Retail Vision, said Dave Potts' "back-to-basics approach" had transformed Morrisons' fortunes. ...
Adele earned £40m last year, says Sunday Times Rich List image
Source : BBC [Read Article] Thursday 4th of May 2017 12:45:40 AM
....A global arena tour and a few million more album sales earned Adele £40m last year, according to the Sunday Times Rich List. The pop star's fortune rose from £85m to £125m - meaning she's the richest solo female musician in the paper's annual wealth survey. ...
ITV chief executive Adam Crozier steps down image
Source : BBC [Read Article] Wednesday 3rd of May 2017 07:36:53 AM
. ITV's chief executive Adam Crozier, who is credited with helping to turn around the broadcaster's fortunes, is to step down after seven years. ...
Voices of the 1%: how do Britain's highest earners feel about their income? image
....”. The study’s interviewees included five people with fortunes of more than £100m, and three people on the Sunday Times Rich List. ...
Norway billionaire Kjell Inge Roekke to give away 'lion's share' image
....A Norwegian billionaire has promised to give "the lion's share" of his money away. Kjell Inge Roekke, a former fisherman who made his fortune in the oil industry, will begin by funding a research ship that will remove plastic from the ocean. ...
Sir Philip Green and wife took £433m hit last year, says rich list image
....5bn, and ranked sixth on the Sunday Times general list. Their fortune stems from the sale of the family biotech firm, Serono, and the soaring value of their stake in another pharma business, Santhera. ...
Shocking discovery? Money earned by exploitation is less rewarding, study shows image
. It’s the age-old question: does money buy happiness? The answer, according to scientists, depends on how you make your fortune. ...
Fangs: the lightning rise of Facebook, Amazon, Netflix and Google image
Source : Guardian [Read Article] Saturday 29th of April 2017 08:00:25 AM
.... There is, however, one thing no one can argue with. Their share prices, boosted further by positive financial results this week, have delivered huge multibillion-dollar boosts to the personal fortunes of their founders, all of whom still run the companies they dreamed up. ...
Duke of Westminster's £12bn property firm hit by London slump image
Source : Guardian [Read Article] Tuesday 25th of April 2017 05:00:42 PM
. The 26-year-old Duke of Westminster, who is believed to be the world’s richest person under 30 with a £9bn fortune, has been hit by a steep drop in returns on his family’s British property empire, which includes many of the most famous addresses in London’s Mayfair and Belgravia. ...
How streaming saved the music: global industry revenues hit £12bn image
Source : Guardian [Read Article] Tuesday 25th of April 2017 04:55:19 PM
....”. Frances Moore, chief executive of IFPI, said that their reversal of fortunes “hasn’t happened by chance; as an industry we’ve had huge innovation and investment to make it happen. ...
Christian Dior and LVMH combined by French billionaire image
Source : BBC [Read Article] Tuesday 25th of April 2017 11:31:29 AM
....Christian Dior Couture, which almost exclusively sells its goods through its 198 high-end stores, had revenues of more than 2bn euros last year and profits of 270m euros. Mr Arnault has a fortune of nearly $51bn (£40bn), according to Forbes. ...
With a whiff of sulphur, George Osborne was gone – but for how long? | Polly Toynbee image
.... George Osborne, who leaves the grand stage of the Commons at the age of 45 saying, “I want new challenges”, was a gamer, departing now to throw his dice in journalism and the City. It was the grave misfortune of so many millions that the sport he and his old friend David Cameron enjoyed for a while was playing with lesser people’s lives in the great game of politics. ...
Force India F1 team boss Vijay Mallya arrested in London image
Source : Guardian [Read Article] Tuesday 18th of April 2017 12:31:31 PM
.... Extradition hearing in Court started today as expected. India’s prime minister, Narendra Modi, has made it a priority to bring Mallya, who made most of his fortune from Kingfisher beer and spirits, back to the country to stand trial over an estimated 94bn rupees (£1bn) of debt owed to state-owned banks after the collapse of Kingfisher Airlines in 2012. ...
Indian tycoon Vijay Mallya bailed in UK image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:33:56 AM
....The 61-year-old former Indian MP entered the UK on a valid passport in March 2016. Mr Mallya made his fortune selling beer under the Kingfisher brand before branching out into aviation and Formula 1 racing. ...
Can’t we stop colossal firms taking over small businesses? image
Source : Guardian [Read Article] Monday 17th of April 2017 01:08:04 PM
.... Damn. Because I feel I must stick to some priciples, and I’m still enraged with Shirley Porter, the heiress to the Tesco fortune, who was responsible for the “homes for votes” scandal when she was leader of Westminster council. ...
Credit Suisse bosses offer to cut their own bonuses by 40% image
Source : BBC [Read Article] Friday 14th of April 2017 01:30:19 AM
....Mr Thiam, who used to head insurance giant Prudential, was awarded 12m Swiss francs in total pay in 2016. He said the decision to reduce top executives' variable compensation reflects "the total confidence" they have in fixing the bank's fortunes. ...
Rachel Whetstone: from Tory power broker to Silicon Valley PR guru image
Source : Guardian [Read Article] Thursday 13th of April 2017 03:02:53 PM
....Born in East Sussex to a wealthy family, the 49-year-old has a Conservative pedigree. Her grandfather, Antony Fisher, made his fortune importing intensive chicken farming from the US to the UK; he used his millions to help set up right-leaning thinktanks and lobby groups, such as the Institute of Economic Affairs (IEA) and the Adam Smith Institute. ...
Employment is high, skills are in demand. So why is pay still not rising? | Larry Elliott image
.... Yet the near 6% drop in Tesco’s share price made it the biggest loser in the FTSE 100. In truth, the market reaction is not a criticism of the impressive job that Dave Lewis, chief executive, has done in turning round Tesco’s fortunes since his arrival in 2014. ...
Donald Trump’s tax holiday 'would help top US companies save $300bn' image
Source : Guardian [Read Article] Wednesday 12th of April 2017 04:00:25 AM
....5bn in tax by taking advantage of Trump’s one-off 10% repatriation tax. Other companies sitting on vast fortunes parked offshore include the drugs maker Pfizer, with $193bn, Microsoft, with $124bn, and GM, with $104bn. ...
Judges reject US banker's claim to be a genius in divorce case image
Source : Guardian [Read Article] Tuesday 11th of April 2017 01:07:22 PM
. A US banker has been ordered to pay his ex-wife half of the family’s £140m fortune, after the court of appeal rejected his claim that his “genius” outshone her contribution to the marriage. ...
Meet the millennials making big money riding China's bitcoin wave image
Source : Guardian [Read Article] Tuesday 11th of April 2017 06:00:21 AM
....Bitcoin has no physical form but the rewards are very tangible; Yang’s home is packed full of expensive gadgetry, most prominently a mega-sized flat screen smart board, over a metre wide, which Yang uses to chart bitcoin’s rise and fall in HD. Normally, the graphs on Yang’s screen show bitcoin’s and his own fortunes going up and up. ...
New £1 coin: Your coins could be worth a small fortune online image
Source : Independent [Read Article] Monday 10th of April 2017 08:29:00 AM
...
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Price rises and pay figures to underline Brexit strain on Britons image
Source : Guardian [Read Article] Sunday 9th of April 2017 11:01:21 PM
.... But the balance of economic activity in 2017 would be different. It expects the pound’s drop, along with improving fortunes for the UK’s big trading partners, to spur exports growth, with net trade forecast to add 0. ...
Tesco looks to draw a line under accounting scandal image
Source : Guardian [Read Article] Sunday 9th of April 2017 06:00:00 AM
.... It has benefited from expansion in Europe, coupled with a focus on what it called the more “aspirational” end of the market. The difference in the two companies’ fortunes will be all the more galling for Ashley, who sold £12. ...
Let’s move to Kirkcaldy, Fife: a beautiful bay and an excellent farmers’ market image
....What’s going for it? Were Adam Smith to be reincarnated here in his home town (as a till-worker at Lidl, perhaps) he might come to different conclusions about the free market. The wealth of nations is in short supply in Kirkcaldy today: the hidden hand of capitalism is hidden indeed and the trickle-down of good fortune to those in need is more of a dribble. ...

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