Nokia shares slide after it reports possible Alcatel-Lucent compliance issues March 22, 2019 Shares in telecoms giant Nokia dropped as much as eight per cent today after it reported concerns over potential compliance issues at its Alcatel-Lucent division. In an annual filing to the Securities and Exchange Committee, Nokia said it had launched an investigation after being made aware of “certain practices relating to compliance issues” at the [...]
Donald Tusk says ‘anything could be possible’ after EU agrees Brexit delay March 22, 2019 European Council president Donald Tusk said the extension of Article 50 agreed last night at the EU summit in Brussels meant any Brexit outcome was possible. Tusk told a press conference on the second day of the summit that the delay of the Brexit date until 12 April meant "anything could be possible: a deal, [...]
Ladbrokes chairman to step down after selling thousands of shares March 22, 2019 Ladbrokes's parent company is on the lookout for a new chairman weeks after the incumbent angered investors by selling £6m in shares. Lee Feldman, who has chaired GVC Holdings since 2008, is close to leaving after new rules limiting the term of chairmen to nine years, the company has confirmed to City A.M. Read more: GVC [...]
Debenhams flags ‘obvious concerns’ over £100m bid to make Mike Ashley CEO March 22, 2019 Debenhams has turned down Sports Direct's offer to buy its Danish business with the condition that Mike Ashley oust current boss Sergio Bucher to become the company's chief executive. Earlier today Sports Direct made a £100m offer for Magasin du Nord and claimed it would help the company's liquidity, while also giving Debenhams the freedom to buy it [...]
Asda and Sainsbury’s propose selling 150 stores to save merger March 22, 2019 Asda and Sainsbury's have offered to sell up to 150 supermarkets and several convenience stores in a bid to save their proposed merger. Read more: Sainsbury's and Asda double down on £1bn price cut pledge to salvage deal The supermarkets promised they could divest between 125 and 150 supermarkets and "a number" of the convenience stores in [...]
Waterloo station disruption: Commuters warned travel chaos will hit Friday rush hour March 22, 2019 Travel chaos at Waterloo this morning is set to drag on into this evening’s rush hour, causing more misery for commuters, National Rail has now warned. Tens of thousands of London workers were hit by travel disruption coming into Waterloo train station this morning after overrunning engineering works forced rail operators to halt all lines. [...]
O2 down: Customers unable to make calls as mobile network crashes March 22, 2019 O2 customers across the UK were unable to make and receive calls after an outage hit parts of the network for roughly three hours this morning. The issues were first reported at around 8am, and network monitoring site Down Detector received more than 450 reports of outages. Normal service was restored at roughly 11am. Oh @O2 [...]
Government voices ‘serious concerns’ over Chinese cyber attack threat to UK 5G network March 22, 2019 The government has said it has “serious concerns” about the risk of China gaining access to the UK’s telecoms infrastructure. Jeremy Wright, Secretary of State for Digital, Culture, Media and Sport (DCMS), said the government is worried about the risk of interference from “both state and non-state actors”. Read more: Trump: UK's 5G plans put [...]
Finance leaders raise £300,000 for children’s charity Barnardo’s March 22, 2019 More than 200 City finance leaders raised almost £300,000 for children's charity Barnardo's to combat issues like sexual exploitation earlier this week. Read more: Record year for charity lottery fundraising Barnardo's chief executive Javed Khan said the money will fund the charity's “specialist frontline services, which help children recover from their experiences, and build bright, positive futures”. Barnardo's [...]
Business groups call on Theresa May to use Article 50 extension to avoid no-deal Brexit March 22, 2019 Business groups have called for Prime Minister Theresa May to use to the extension of Article 50 agreed last night to avoid a no-deal Brexit. EU leaders last night agreed to push the Brexit deadline back to 12 April from the previous date of 29 March. Read more: Goldman Sachs says no-deal Brexit has become [...]