Restaurant Group shareholders approve £559m Wagamama takeover despite vote revolt November 28, 2018 Restaurant Group shareholders approved the planned the £559m takeover of Wagamama today, but 40 per cent of shareholder votes opposed the deal. The vote sent the Restaurant Group's share price down by almost 10 per cent. The Frankie and Benny's owner had been set for a shareholder showdown after a number of investors voiced their intentions to vote [...]
Goldman Sachs hit with £5.2m fine for short selling November 28, 2018 South Korea’s financial regulator has hit Goldman Sachs with a 7.5bn won (£5.2m) fine for breaking rules on short-selling. The fine is for short-selling without securing underlying assets, the Financial Services Commission (FSC) said in a statement. It said Goldman Sachs Group’s subsidiary Goldman Sachs International had conducted short sales worth 40.1bn won in May. [...]
UK braces itself for a battering from Storm Diana as winds approach 70mph November 28, 2018 Brits are set to endure a downpour and buffeting winds as Storm Diana hits the UK today. The Met Office issued yellow weather warnings for western part of the UK this morning, with delays expected to public transport and routes carrying large vehicles from gales of up to 70mph. Severe rainfall will affect other parts [...]
Axa raises profit target following $15bn XL deal November 28, 2018 Europe's second-largest insurer Axa said it expects profitability to speed up in the next two years thanks to business brought in by XL which it acquired in September. French-headquartered Axa said today it expected adjusted return on equity (ROE) to increase between 14 per cent and 16 per cent annually over the coming two years, [...]
KPMG South Africa appoints new boss as it tries to put scandals behind it November 28, 2018 The troubled South African arm of audit giant KPMG today announced a new chief executive from outside the firm. It appointed the deputy chief executive of PwC’s South African arm, Ignatius Sehoole, as its new boss, taking over from Nhlamulo Dlomu, who is stepping down after a year. KPMG has been rocked by a series [...]
Housebuilder Telford Homes boosts profit as it focuses on London November 28, 2018 Developer Telford Homes announced a jump in profits today for the first half of the year as its strategy of building homes in London paid off. Total revenue in the first half of 2019 increased 31 per cent to £129.6m, while profit before tax rose 16.1 per cent to £10.1m. The company increased its interim [...]
SMMT calls on MPs to back Theresa May as it issues fresh warnings against a no-deal Brexit November 28, 2018 Automotive trade body the Society of Motor Manufacturers and Traders (SMMT) has issued a plea to MPs to back Theresa May’s deal as it issues fresh warnings against the impact of a “no-deal” Brexit. A survey unveiled at its 102nd annual dinner last night revealed that three quarters of carmakers fear a no-deal Brexit will [...]
Hammond: Prime Minister’s Brexit deal minimises economic costs November 28, 2018 Chancellor Philip Hammond defended the Prime Minister’s Brexit deal this morning, claiming it comes at a very small economic cost. Hammond also warned that a no-deal Brexit would be far more expensive than the withdrawal agreement negotiated by Theresa May. May’s deal faces a crucial vote in parliament on 11 December, and Hammond warned the [...]
Profit slips at private equity takeover target RPC November 28, 2018 Plastics maker RPC today announced a slight dip in profit ahead of a deadline for its US private equity suitors to make firm bids for the business. RPC said its adjusted profit before tax fell two per cent to £188.9m in the six months to September 2018. Revenue for the six months was £1.892bn, a [...]
DEBATE: Should Margaret Thatcher be considered as the scientist to be featured on the new £50 note? November 28, 2018 Should Margaret Thatcher be considered as the scientist to be featured on the new £50 note? Emma Revell, communications officer at the Centre for Policy Studies, says YES. People will argue that science isn’t what Margaret Thatcher was most known for, and they’d be right. But the same could be said of Roger Bannister, a [...]