Shareholder reaches deal with Tanzania over Acacia Mining tax spat February 20, 2019 Acacia Mining saw the light today as its largest shareholder Barrick Gold said it had reached a proposal with the Tanzanian government over a longstanding spat. The deal would see Acacia sharing half the economic benefits of their operations in the country with the regime. Read more: Acacia boss: 'No winners' from spat with Tanzanian [...]
Port of Tilbury £200m London project gets green light February 20, 2019 Authorities have given the green light for a £200m port project on the outskirts of London, in a bid to deal with rising demand from the construction, manufacturing and retail sectors. The Department for Transport (DfT) gave the project its blessing yesterday, meaning work on the second terminal at the Port of Tilbury in Thurrock [...]
Dubai-based port operator DP World pays £322m for P&O Ferries February 20, 2019 Emirati port operator DP World has bought back P&O Ferries for £322m 13 years after selling it. DP World acquired P&O, the British freight firm, in 2006 but sold off some assets, including P&O Ferries, to major shareholder Dubai World within the same year. Now it has paid to get the company back, along with logistics arm P&O [...]
Anna Soubry urges Tories to put their country first and thwart a no-deal Brexit February 20, 2019 The Conservative party is being infiltrated by former Ukip members bent on ousting sitting MPs they view as traitors over Brexit, ex-Tory MP Anna Soubry warned today. Read more: Conservative split: Three Tory MPs quit party In a devastating attack on her former party, the Broxtowe MP said the Conservatives were now being controlled by [...]
UK telecoms operators must strengthen cyber security to prevent cyber attacks, says top spy boss February 20, 2019 The UK needs higher standards of cyber security across the telecoms sector, a top spy boss said today, insisting no conclusion has been reached about the use of Huawei’s 5G equipment. Speaking at a cyber security conference in Brussels this afternoon, Ciaran Martin, head of the National Cyber Security Centre (NCSC), said the telecoms market must [...]
Big pharma: Indivior launches generic version of own drug to beat copycats February 20, 2019 British drugs firm Indivior has launched a copycat version of its opioid addiction drug Suboxone in the US, shortly after a court allowed rivals to market generic versions of it. Read more: Indivior share price plunges on US court defeat which could hit sales hard The firm's shares were up 1.8 per cent this afternoon. [...]
Celebrity marketing fees fall by two-thirds in two years amid shift to micro-influencers February 20, 2019 The amount of money marketers are willing to splurge on high-profile celebrity influencers has plunged by two-thirds over the last two years, a new survey has revealed. Data published by Rakuten Marketing shows UK marketers are willing to fork out £25,000 for a single post by a Facebook influencer, down from £75,000 in 2017. Read [...]
Interserve’s rebel shareholder Coltrane ups stake in struggling outsourcer February 20, 2019 The rebellious shareholder trying to thwart outsourcing giant Interserve’s rescue deal has upped its stake in the firm, "putting its money where its mouth is" and piling more pressure on the contractor. Coltrane Asset Management, a 27.3 per cent stakeholder which previously owned only 17.5 per cent through shares and 9.8 through other financial instruments, launched [...]
UBS fined €4.5bn in French tax fraud trial but Swiss bank blasts decision and launches appeal February 20, 2019 Swiss banking giant UBS has been fined €4.5bn (£3.9bn) by French court after being found guilty of laundering the proceeds of tax evasion. Shares in the bank dropped 2.8 per cent after a verdict was delivered in Paris this afternoon. Read more: Jury fails to reach verdict in UBS insider trading case The court found [...]
Former Barclays chair Marcus Agius tells court he was unaware of £280m agreement with Qatar February 20, 2019 Former Barclays chair Marcus Agius told a court in London today that he was unaware of an agreement by the bank to pay Qatar £280m as it embarked on an emergency fundraising at the height of the financial crisis. The Serious Fraud Office has charged former Barclays chief executive John Varley and senior bankers Richard [...]