It was just banter says Sir Philip Green on sexual harassment allegations October 28, 2018 Under-fire Topshop boss Sir Philip Green dismissed sexual harassment and bullying claims as “banter” over the weekend. Last week in the House of Lords Peter Hain named Green as the tycoon at the centre of a series of sexual harassment claims which the courts had prevented the media from reporting. Speaking to the Mail on [...]
Oil giants BP and Shell expect pumped up profits after barrel price rise October 28, 2018 Oil and gas giants Shell and BP are expected to report boosted profitability this week after oil prices breached $85 (£66.2) dollars per barrel in the third quarter. On Tuesday BP is expected to reveal a jump in profits from £2.82bn to an estimated £2.9bn according to S&P Capital IQ, while on Thursday Royal Dutch [...]
Politicians urge London Stock Exchange to cancel meeting with Saudis after Khashoggi killing October 28, 2018 Senior politicians have called on the London Stock Exchange Group (LSE) to cancel a planned meeting with Saudi officials amid the international fallout from the killing of journalist Jamal Khashoggi. Speaking to City A.M., shadow chancellor John McDonnell and Liberal Democrat leader Vince Cable both urged the LSE to scrap an “Investing in Saudi Arabia” [...]
Arcadia concessions to be hit by Debenhams store cuts in latest blow to Sir Philip Green October 28, 2018 Hundreds of Arcadia concession stores are under threat after Debenhams revealed proposals to close 50 branches as part of a cost-cutting bid, in another blow for retail tycoon Sir Philip Green. It comes after Topshop boss Green was named in parliament by Lord Peter Hain as the businessman that blocked The Telegraph reporting on allegations of sexual harassment and [...]
Emerging market meltdown threatens UK financial system, says Financial Conduct Authority boss Andrew Bailey October 28, 2018 A meltdown in emerging markets could threaten the UK’s financial system, the head of the Financial Conduct Authority said. Andrew Bailey, chief executive of the City watchdog, warned that a crash in emerging economies with “debt-sustainability issues” is a risk as the post-crisis period of low interest rates concludes. The warning came as emerging market stocks fell for the [...]
Serious Fraud Office chief steps back from Barclays case over conflicts October 28, 2018 The new director of the Serious Fraud Office (SFO) Lisa Osofsky has recused herself from the prosecution of four former Barclays bankers over potential conflicts of interest. The fraud office said she had delegated responsibility for the case to the SFO’s general counsel Alun Milford to “avoid any potential conflict” thrown up by previous private [...]
Hammond: No-deal Brexit could scupper the end of austerity October 28, 2018 Philip Hammond has warned that austerity will only end if the government can negotiate a Brexit deal with the European Union. The chancellor said plans to increase public spending may be dropped if Britain leaves with no deal. He said that Office for Budget Responsibility projections, which the budget is based on, assume Britain will [...]
Audit watchdog boss Stephen Haddrill set to step down amid probe October 28, 2018 The chief executive of the Financial Reporting Council (FRC), Stephen Haddrill, is reportedly preparing to step down amid a government probe into the watchdog’s operations. Haddrill is planning to leave within months, Sky News reported. He has led the FRC, which monitors and regulates the audit sector, since 2009. Citing an anonymous source, Sky said [...]
Global backlash over Khashoggi killing is “hysteria”, Saudi foreign minister says October 27, 2018 The global backlash over the killing of journalist Jamal Khashoggi has become “hysteria” and Saudi ties with the US are still “ironclad”, the kingdom's foreign minister has said. Adel al-Jubeir said on Saturday those behind the murder of the Washington Post columnist would be prosecuted but the investigation would take time. He described the international [...]
Tesla denies it is facing a deeper criminal probe into Model 3 production after reports suggest FBI had expanded investigation October 27, 2018 Tesla has denied claims it is facing a deeper criminal probe regarding the production guidance for its new Model 3 sedans. The electric car-maker responded to claims made in the Wall Street Journal on Friday, which said that Federal Bureau of Investigation agents were investigating the company. The report claims that the FBI are looking to [...]