EU follows UK lead and considers plans to test bank defences against a cyber attack January 23, 2017 The EU is contemplating plans to test banks' ability to repel cyber attacks in an initiative that would mirror measures already put in place by the Bank of England. Cyber and technological-enabled attacks have been on the Bank of England's radar since 2013 with 30 out of 35 "core firms" having completed the UK's cyber stress testing [...]
The Supreme Court’s Article 50 verdict is unlikely to derail Theresa May’s Brexit timeline January 23, 2017 A landmark Supreme Court ruling tomorrow is unlikely to derail plans for Prime Minister Theresa May to begin Brexit talks before April – whatever the outcome. The 11 Supreme Court judges will deliver their verdict on whether May needs approval from parliament to trigger the UK's separation from the European Union. The government has been appealing a decision [...]
And then there was one: Sports Direct splits from top brokers January 23, 2017 Sports Direct has split from three of its brokers, announcing today that Liberum Capital would be its sole broker from hereon. The controversial retailer's former collection of brokers was made up of City heavyweights Goldman Sachs, Citi and Haitong. Haitong and Citi are both neutral on the company's shares, while, last May, Goldman Sachs stopped recommending [...]
Fraud squad successfully puts funds linked to Chad oil corruption claims on ice January 23, 2017 The fraud squad has today secured a property freezing order worth over £4m. The Court of Appeal decided to enforce the property freezing order against Ikram Mahamat Saleh, covering £4.4m plus interest, which represents the sale proceeds of 800,000 shares in Canadian oil and gas company Caracal Energy, formerly known as Griffiths Energy International. The Serious Fraud Office [...]
Alliance Pharma revenues doubled in 2016 after its first full year since its tie-up with Sinclair January 23, 2017 Alliance Pharma revenues more than doubled in 2016 with the firm boosted by its December 2015 acquisition of Sinclair. In its annual trading update, the firm said revenues would be £97.5m, up from £48.3m in 2015. Although £43.8m of this increase was attributable to ex-Sinclair products, the group delivered organic growth of 13 per cent [...]
Property legal Q&A: What legal issues should I consider before I let a leasehold flat in a mansion block? January 23, 2017 Question: I own a leasehold flat in a mansion block and am considering letting it on a daily/weekly basis. What legal issues should I consider before doing so? Answer: The success of Airbnb and similar providers of short room/property rentals has increased significantly over the past few years, but there are several factors to consider [...]
Braemar Shipping shares hit as oil and gas headwinds knock profits January 23, 2017 Braemar's share price plummeted over 16 per cent today after the shipping firm revealed spiralling restructuring costs are threatening to wipe out operating profits. The London-listed firm revised its operating profit before interest down to between £3m and £3.5m. On top of this, the firm is facing a bill of £2.7m to put the business [...]
Expect more travel delays tomorrow as London is swathed in freezing fog again January 23, 2017 It looks like London is in for more transport misery, after the Met Office issued a yellow warning of fog for tomorrow morning. Dozens of flights were cancelled at airports including Heathrow and London City today as freezing fog enveloped the capital. This evening the Met Office said areas of freezing fog, some of which will [...]
BP given thunderous boost by delivering project 11 months early and under budget January 23, 2017 BP reported good news from the Gulf of Mexico, revealing plans to turn on the taps of a major project 11 months ahead of schedule and $150m (£120m) under budget. The oil giant said production had started at its Thunder Horse project, which will boost supply from the area by 50,000 barrels per day. Read more: Egypt nets $220m [...]
Xi Jinping and Donald Trump have fired the opening salvoes of the coming trade war January 23, 2017 It's only the first week of Donald Trump’s presidency, but the contrast between Trump’s “America First” protectionist rhetoric and other world leaders’ hopes of globalisation working for the many could not be starker. The Trump rally had already stalled before the 45th President began his inauguration speech, as investors sought more detail on his plans. Despite [...]