Trump ramps up the pressure on Venezuela with fresh sanctions November 1, 2018 US President Donald Trump today turned up the heat on Venezuelan leader Nicolas Maduro, signing an executive order to place new sanctions that will affect the country’s gold exports. The order bans anyone in the US from engaging with people or businesses involved in “corrupt or deceptive” Venezuelan gold sales, which Trump believes had been used [...]
Caffeine boost: Starbucks shares buzz as turnaround plan beats sales estimates November 1, 2018 Coffee behemoth Starbucks’ share price has risen more than eight per cent in after-hours trading, after the company performed better than expected in its fourth quarter. Strong growth in the US and China helped to boost sales, taking global net revenue to $6.3bn (£4.8bn). The company has battled with increased competition in recent months, laying off [...]
Barclays appoints former Rothschild veteran Nigel Higgins as next chairman November 1, 2018 Barclays has confirmed that Rothschild deputy chairman Nigel Higgins has been lined up as the replacement to current group chairman John McFarlane, following a six month search process. The switch-over, which was revealed by Sky News earlier this evening, is scheduled to take place after the bank's annual general meeting in May 2019. However Higgins [...]
Extend post-Brexit transition period, powerful EU business group tells Theresa May November 1, 2018 Bosses of some of Europe’s biggest companies have urged Theresa May to extend the post-Brexit transition period after a meeting in Downing Street. Members of the European Round Table of Industrialists were given an update on the talks with Brussels by the PM on Thursday – claiming she was confident a deal could soon be [...]
Former Goldman Sachs bankers charged for Malaysian state fund embezzlement November 1, 2018 Two former Goldman Sachs bankers and Malaysian financier Jho Low have been hit with criminal charges in the US for the alleged embezzlement of billions of dollars from Malaysian sovereign development fund 1MDB. The US Department of Justice said former Goldman partner Tim Leissner had pleaded guilty to conspiracy to launder money, and agreed to [...]
Theresa May continues to woo business groups with new forum to hear industry concerns November 1, 2018 Theresa May’s attempts to woo the business world has gone up another notch with the creation of a special forum for boardroom leaders and government ministers. The new initiative will see bosses from companies including Rolls-Royce Holdings, BT Group and ITV meet with the Prime Minister and senior cabinet figures twice a year to discuss key [...]
Vaping and e-cigs are safer than smoking cigarettes, so let your colleagues puff away at their desk November 1, 2018 I smoke. Very happily. Cigarettes, cigars, and pipes. As far as I’m concerned, tobacco is one of the true age-verified joys of life. I love the taste of the leaf, the sensation of the nicotine, and the other physical and psychological effects. I have also worked on marketing campaigns for two of the world’s biggest [...]
Tracey Crouch quits as sports minister in protest at gambling machine clampdown delay November 1, 2018 Sports minister Tracey Crouch has quit the government in protest at a delay on reducing the maximum stake on betting machines dubbed the “crack cocaine” of gambling. Crouch had spearheaded a drive to reduced the maximum stake on Fixed Odds Betting Terminals (FOBT) from £100 to £2. The government announced in May it backed the [...]
US hedge fund led by former JP Morgan executive buys stake in Deutsche Bank November 1, 2018 A US hedge fund led by former JP Morgan executive Doug Braunstein has taken a 3.1 per cent stake in Deutsche Bank after shares in the embattled German lender reached an all-time low. Hudson Executive Capital confirmed it had been watching the stock closely for a year and had bought the stake as the bank [...]
Defence firm Babcock shuts Devon site with 200 jobs at risk November 1, 2018 Engineering firm Babcock announced today it is closing a dockyard in Devon putting nearly 200 jobs at risk. Babcock said in a statement “it has taken the difficult decision to exit operations at its Appledore facility in Devon, ending its site lease in March 2019”. Babcock said it will offer “relocation opportunities” to all 199 [...]