US Senate passes resolution blaming Saudi Crown Prince for Khashoggi death December 14, 2018 The US Senate has passed a resolution on the death of journalist Jamal Khashoggi, putting the blame firmly at the feet of Saudi Arabia's Crown Prince Mohammed bin Salman. In a rare move against the wishes of US President Donald Trump, who has maintained the Crown Prince's innocence to date, seven Republicans joined Democrat lawmakers [...]
Brits face paying for a visa waiver to travel to the EU after Brexit December 14, 2018 Brits travelling to the EU after Brexit face a €7 (£6.30) fee to holiday abroad without a visa, it is reported. The charge will come in in 2021, when Britain’s two-year transition period with the EU ends and the UK officially leaves the EU. If the UK’s transition period is extended beyond 2021, then the [...]
Mirror and Express owner Reach bumps up trading expectations December 14, 2018 The publisher of the Mirror and Express newspapers saw its share price climb more than five per cent this morning after saying that trading for the year will finish “marginally ahead of market expectations”. Reach, the company name adopted by Trinity Mirror after it acquired Richard Desmond’s media portfolio in February for £127m, reported a rise [...]
Half of homes could boost their broadband Ofcom says December 14, 2018 Half of British homes could switch to a faster broadband service, Ofcom said today as it plans new rules to encourage people to get the best deal. The media regulator’s research showed that 94 per cent of UK homes and offices can now get superfast broadband but less than half have taken it up. It also [...]
Balfour Beatty set to grow revenues against backdrop of struggling construction rivals December 14, 2018 Balfour Beatty is on course to beat expectations after selling off more of its infrastructure investment stakes in December, the engineering firm said today. The engineering firm expects to net about £65m in profit from the disposals over the full year, which come under its Build to Last transformation programme that will also see it sell [...]
Editor’s Notes: Wherever Brexit takes us, let’s hope it’s not Norway December 14, 2018 Theresa May remains in office, and all her difficulties remain with her. By surviving Wednesday night’s vote, she has secured a grace period of 12 months during which time she cannot be challenged again. However, Labour MPs are determined to call a parliamentary vote of no confidence in the government, which could destroy the Tory-DUP [...]
Mark Kleinman: Come in Houston, just as UK audit reforms bite December 14, 2018 Talk about a hospital pass. Richard Houston, Deloitte’s consulting chief, might be forgiven for feeling a bit like Theresa May this week. Houston’s is the solitary name on a ballot open to partners at the Big Four accountancy firm’s UK operation as it seeks to elect a successor to David Sproul, its chief executive for [...]
Competition and Markets Authority to recommend market share cap for Big Four audit firms December 13, 2018 The UK's top four audit firms are facing a market share cap to encourage competition from smaller companies as the sector comes under increased scrutiny following a number of high profile corporate collapses. The Competition and Markets Authority (CMA) is expected to recommend a limit on the number of large listed companies that the so-called Big [...]
European politicians blast Gazprom over Nord Steam 2 pipeline December 13, 2018 Shares in Russian energy giant Gazprom dropped earlier today after the European Parliament voted to condemn the construction of Nord Stream 2, a pipeline running through the Baltic Sea. Shares initially fell 1.8 per cent to 153.30 rubles as markets opened in Moscow. But they later rebounded, ending the day up 0.45 per cent to 156.49 rubles. [...]
Investors reduce Anglo American short stakes as company looks up December 13, 2018 Investors are offloading their short positions in the FTSE’s most bet-against mining stock as Anglo American starts looking up. Earlier this week the miner said it was expecting production to increase about two per cent more than previously forecast, as production of copper and diamonds increased. Costs will also be five per cent below what [...]