BOSS BATTLE A leadership race is gathering pace at £1 trillion savings firm Legal & General Investment Management.
Boss Mark Zinkula will step down next year with Sarah Aitken, head of European and Middle Eastern distribution, and Emma Douglas, who runs the defined contribution solutions arm, the leading candidates for his job.
Separately, the firm says it will vote against chairmen of eight companies it believes have failed to confront the threats posed by climate change. They include Dominion Energy, Japan Post Holdings, Rosneft Oil and Subaru.
RICH PICKINGS The world’s top ten investment banks made more money last year than in 2007, before the dawn of the financial crisis.
The biggest players raked in £58.7billion of profit in 2017 – up from £56.5billion a decade earlier.
LOAN LISTING Online lender Funding Circle has removed details of its loan book from the internet in a sign it is gearing up for a stock market float.
BEAN COUNTER The energy supplier being formed by SSE and Innogy has hired Gordon Boyd as finance director. He has held senior finance roles at utilities including EDF Energy and Drax.
FIRM FLOAT Oil and gas company Block Energy has joined the AIM junior stock market, valued at around £10.3million.
SPEECH FEAR Holding internet companies accountable for content users’ posts on their websites could damage free speech, Google claims.
GAME ON In an attempt to boost the appeal of its Xbox One video game console, Microsoft has introduced 52 games. The tech multinational announced 18 exclusive titles including entries in its Halo and Forza franchises.
BIT BLOW The price of bitcoin has dropped to a two-month low after South Korean trading website Coinrail was hacked – with thieves stealing £27.8million, about 30 per cent of the bitcoins stored on the exchange – and American regulators the US Commodity Futures Trading Commission launched a probe into possible market-rigging.
NET BANK Global lender Standard Chartered is looking to set up an online bank in Hong Kong and has applied for a licence for an internet-only operation.