Fine wine could be a safe investment haven following pro-Brexit vote as Sterling tumbles June 28, 2016 Investors looking for a safe haven amid the post-Brexit vote stock market turbulence could find calm in a surprising corner: the fine wine market. Vintage investments have a number of defensive characteristics and tend to perform well when the pound is weaker. During a week in which the pound has fallen to a 31-year low following the [...]
Steinhoff increases holding in Poundland as Brexit casts doubts over takeover bid June 28, 2016 South African retail conglomerate Steinhoff has upped its holding in UK discount retailer Poundland. The increase, from 23.26 to 23.52 per cent, comes despite Bensons for Beds owner Steinhoff saying last week the UK vote to quit the European Union had caused it to rethink its recent offer for the company. Steinhoff, a furniture and household goods company with operations across Europe, Africa and Australasia, earlier [...]
Labour’s leadership crisis reaches a third day, with almost 50 parliamentary resignations and a motion of no confidence set for this afternoon June 28, 2016 Labour's leadership crisis has reached a third day with fresh resignations coming ahead of a vote on a motion of no confidence in Jeremy Corbyn later today. Corbyn is widely predicted to lose in a non-binding vote of Labour MPs this afternoon, with results expected to be announced around 5:00pm. The vote itself will not [...]
Before the bell: What you need to know before the US market open June 28, 2016 The Brexit rollercoaster is still going full tilt, unbalancing global markets, currencies and politics. Here's what you need to know before the US open at 2:30pm London time. Major US markets are pointing up ahead of the open, with the S&P up by 0.97 per cent in the pre-market. The tech-heavy Nasdaq is up by 0.99 per [...]
BT has been ordered to pay an £8,000 fine for dangerous roadworks June 28, 2016 British Telecom (BT) has been told it must pay more than £8,000 for "dangerous and disruptive roadworks", in its 37th prosecution since 2010. Transport for London prospected BT for the poorly managed roadworks, leading BT to appear before Westminster Magistrates’ Court on 22 June. The BT offences, which took place on the Transport for London Road [...]
Baltic Exchange and Singapore Exchange extend exclusive takeover talks June 28, 2016 Singapore Exchange extended exclusive talks with the Baltic Exchange regarding a possible takeover offer by two months. The period has been stretched to 31 August from 30 June, SGX said in a statement released today. The two bourses had been in exclusive discussions since 25 May. Read more: String of foreign buyers circling the Baltic Exchange "SGX [...]
The Trades Union Congress has hit out at the government after its request to join a business roundtable set for today was rejected June 28, 2016 The Trades Union Congress has hit out at the government after a request to attend a business roundtable set for today was rejected. Business secretary Sajid Javid told the TUC their attendance at the event, at which the government will discuss Brexit fears with groups including the Confederation of British Industry, the Institute of Directors [...]
Theresa May is now the bookies’ favourite to become Tory leader, while Angela Eagle and Lisa Nandy edge ahead for Labour June 28, 2016 Theresa May has overtaken Boris Johnson as the bookies' favourite to be the next elected leader of the Conservative Party. William Hill punters have strongly backed the home secretary, leading the bookie to shorten its odds to 11/10. Boris Johnson is now the second favourite at 11/8 odds while Brexit campaigner and minister of state for energy Andrea Leadsom is third at [...]
French economy minister Emmanuel Macron calls for timely EDF decision on Hinkley Point post-Brexit vote June 28, 2016 The French economy minister has heaped pressure on state-backed utility giant EDF to make a timely decision on its Hinkley Point project following the Brexit vote. Emmanuel Macron's comments were made during a nuclear conference in Paris. He also warned that further delays to the final investment decision (FID) could add more uncertainty to the £18bn nuclear power plant. Read [...]
“Who’s laughing now?” Ukip leader Nigel Farage calls for “grown up” deal after Brexit as he mocks MEPs to a chorus of booing June 28, 2016 Leading Leave advocate Nigel Farage has called for a "grown up, mature" deal between the EU and UK after a historic Brexit vote last week. Speaking to the European Parliament, Farage said trade is mutually beneficial, and that a "sensible trade deal" would result in a great friendship between the soon-to-be 27-member bloc and the [...]