No time to read the papers? Read our 60-second round up of today’s market headlines.
So where did it all go wrong for Sir Martin Sorrell? £500m WPP ad man dramatically ends his 33-year career
Sir Martin Sorrell’s sensational departure from the advertising giant he founded has drawn a line under the career of one of Britain’s best-known and best-paid businessmen. But those involved with the company are likely to be scratching their heads this morning as to what he is alleged to have done.
Stocks keep their poise and havens steady after US Syria strikes
European bourses are holding their ground after a steady showing in much of Asia and investors are not moving into haven assets, in a measured market response to the weekend’s US-led military strikes against Syria.
Central London office lettings soar despite Brexit clouds
London’s army of office landlords have defied clouds hanging over the market to toast a flurry of big lettings deals, two separate studies showed on Monday.
Property agent JLL said 2.3 million square feet of office space was let in central London in the three months to March 31.
That was 14% higher than a year earlier, and 5% up on the 10-year average for that quarter.
JD Wetherspoon closes all social media accounts
JD Wetherspoon is closing down all its social media accounts in a move that has been met with widespread scepticism.
The pub chain’s decision was reportedly in response to the trolling of some MPs, but many commentators suspected it was a publicity stunt by the chairman, Tim Martin.
The company said it was closing down the Twitter, Instagram and Facebook accounts for its 900 outlets.
Russian rouble and stocks are down with US poised to reveal fresh sanctions
The rouble and Russian shares have retreated this morning on the threat of fresh US sanctions.
Sanctions targeting some of Russia’s most prominent tycoons dragged Russia’s currency down and battered some of its top companies last week. Yesterday, the US ambassador to the UN, Nikki Haley, warned a wave of new sanctions were on the way with the aim of punishing Russia for its backing of Syrian leader Bashar al-Assad.
The rouble was down about 0.36 per cent this morning against the US dollar at about 62.24 after falling more than six per cent last week.
Takeda boss to meet US investors ahead of potential £35bn Shire bid
The chief of the Japanese drug giant preparing a £35bn bid for FTSE 100 drugmaker Shire is to fly to the US this week as part of an international charm offensive to persuade investors to back the deal.
Christophe Weber, the French boss of Takeda, is understood to be lining up meetings with its major holders ahead of making a potential offer for Shire. Its top five investors include US-based Blackrock, Capital Group and JP Morgan. City sources told The Sunday Telegraph that Takeda was understood to be considering splitting Shire and selling its neuroscience division in order to help finance the deal.
I deserve zero blame over BHS, says Sir Philip Green
Sir Philip Green described himself as a “gentleman” with “zero” responsibility for the collapse of BHS in a foul-mouthed tirade in which he called MPs a “bunch of w***ers” for debating whether he should lose his knighthood.