Acacia shares drop amid reports of fraud office probe December 17, 2018 Shares in Acacia Mining dropped earlier amid reports that the Serious Fraud Office is looking into the company’s affairs in Tanzania. The London-listed miner fell 3.76 per cent to 185.45 after the Wall Street Journal claimed an SFO investigation will focus on claims that the company’s employees bribed Tanzanian government officials and consultants. The SFO [...]
Trump attacks Federal Reserve again in row over interest rates hike December 17, 2018 President Donald Trump has continued his spat with America’s central bank, the Federal Reserve, ahead of its interest rates announcement this week. The Fed is expected to raise interest rates for the fourth time this year on Wednesday, a decision Trump today called “incredible” on Twitter. “It is incredible that with a very strong dollar [...]
New fines rolled out as government targets company bosses in cold call crackdown December 17, 2018 Bosses of companies that make nuisance calls face personal fines of up to £500,000 as part of a new government crackdown. New laws allow the UK’s data protection watchdog, the Information Commissioner's Office (OCI), to directly target bosses responsible for the cold calls. It is hoped the measures will stop directors filing for bankruptcy in [...]
Thomas Cook boss Peter Fankhauser spends £50,000 on company shares December 17, 2018 Thomas Cook boss Peter Fankhauser has spent £50,000 on company shares as the tour operator continues to struggle with declines in its share price. Shares were down nearly five per cent at the time of writing, following a set of disclosures to the London Stock Exchange (LSE). Fankhauser paid 29p per share, higher than the current [...]
H&M shares tumble as sector uncertainty outweighs sales growth December 17, 2018 H&M today reported a rise in sales in the three months to the end of November, but saw its shares tumble amid doubts about the company’s recovery. The Swedish fashion brand said sales rose 12 per cent year-on-year to 56.4bn Swedish krona (£4.9bn). But the positive trading update did little to prevent a fall in [...]
European Commission to extend access to Swiss stock exchanges December 17, 2018 The European Commission will extend its equivalence deal with Swiss share trading venues for six months, it confirmed today, allowing EU banks to access Swiss stock exchanges until June. It will ensure that business and markets will be able to operate smoothly and without any disruptions after 31 December when the current deal expires, the [...]
Laura Ashley shares fall as it prepares to shutter 40 UK stores in fresh growth strategy December 17, 2018 British fashion retailer Laura Ashley is preparing to close 40 more stores in the UK, as it looks eastward for further business growth. The home furnishings chain, which is owned by Malaysian United Industries (MUI), has closed around 40 stores to date since 2015, and is set to double that. MUI's freshly appointed executive chairman [...]
Big Yellow bags planning permission for extended Battersea site December 17, 2018 Self-storage firm Big Yellow today said it has secured planning permission to develop its Battersea site. The company said the project will create a new 72,000 square feet (sq ft) Big Yellow store, 168 flats and 18,500 sq ft of offices, retail space and artists’ studios. Big Yellow currently operates a smaller shop on the [...]
UK banks could be tested for climate change resilience from next year, according to Bank of England governor Mark Carney December 17, 2018 UK bank stress tests could include resilience to the impact of climate change from next year, Bank of England governor Mark Carney said. Carney said he was weighing up whether the risks and opportunities of climate change should included in the test, which is known as the exploratory scenario, the Financial Times reported. Banking stress [...]
Investor stumps up cash to save record-chasing Bloodhound car project December 17, 2018 The project to break the land speed world record which was placed in administration has been rescued by a Yorkshire-based entrepreneur for an undisclosed sum. Ian Warhurst has purchased the business and assets, allowing Project Bloodhound, which aims to reach 1,000 miles per hour in a land vehicle, to continue. The Bloodhound Programme, which is behind the [...]