Former chief executive Andrew Tinkler fired from Stobart board, company to launch legal proceedings ‘imminently’ June 14, 2018 Former chief executive Andrew Tinkler has been dismissed from the Stobart Group board, with immediate effect. The company will also be issuing legal proceedings against Tinkler imminently, for claims described in a letter from the company’s chosen law firm as “a flagrant disregard for his [Tinkler’s] fiduciary and contractual duties”. The letter went on to [...]
Electronics firm Samsung pledges renewable energy targets as it follows the likes of Apple, Google and Facebook June 14, 2018 Global electronics producer Samsung has committed to achieving an ambitious 100 per cent renewable energy target by 2020. Operations in China, Europe and the US will be run solely on solar and other renewable energies within two years time if the technology giant can fulfil pledges it made today. In a move that has been [...]
Brexit: Meaningful vote defeat will overthrow Theresa May, says prominent Tory MP Tom Tugendhat June 14, 2018 Theresa May will be overthrown if her government’s deal on Brexit is rejected, an influential backbench Tory has warned. Tom Tugendhat, chair of the Foreign Affairs Committee, this morning said there would be no way she could continue if the government failed to get backing for its deal when it is put to a parliamentary [...]
UK mortgage borrowing soared in April with £4.4bn in new lending June 14, 2018 Mortgage lending in the UK increased considerably in April, according to a report published this morning by trade association UK Finance. UK Finance’s mortgage trends report revealed that there were 26,700 new first-time buyer mortgages completed in the month, some 3.5 per cent more than in the same month a year earlier. The £4.4bn of [...]
Royal Mail bans drivers from flying England flags during World Cup for health and safety reasons June 14, 2018 Royal Mail staff hoping to cheer on the Three Lions from home have been left disappointed after the company banned them from flying England flags on delivery vehicles during the world cup. It has told drivers not to adorn, vans, trollies or lorries with England flags or stickers, as it could obstruct their vision. A [...]
Testing times: Trading systems are out of sync with new regulations June 14, 2018 No one likes to talk about the IT infrastructure challenges at a bank – it would be a long conversation and largely focused on the amount of work to do. But with new regulations that have come into force this year, firms cannot afford to be unclear about what applications they have, where they are [...]
Comcast tops Disney with $65bn offer for Twenty-First Century Fox June 13, 2018 Comcast has offered $35 (£26.17) per share in an all-cash offer to buy Twenty-First Century Fox, topping Disney’s previous offer by 19 per cent. Comcast, which is the largest US cable TV provider, said its offer totals at around $65bn. Disney previously made a $52.4bn all-stock offer to Fox, which was accepted in December. The [...]
Dutch payments fintech Adyen doubles in value to over €13bn after public listing June 13, 2018 Fintech payments giant Adyen has more than doubled its value during trading after its debut on the Amsterdam stock exchange today, as its share price rose to €503 in morning trading despite being priced at €240 at the top of a range set last week. Adyen, which processes payments for Netflix, Facebook and Ebay, now [...]
Federal Reserve raises interest rates by 0.25 per cent and signals more hikes to come in 2018 June 13, 2018 The Federal Reserve raised its key interest rate today as it continues its efforts to normalise monetary policy with officials’ projections pointing to four hikes in total during 2018. The US central bank moved the target range for its federal funds rate to 1.75 per cent to two per cent. Markets had priced in a [...]
World Cup 2018: There’s so much to like about England under Gareth Southgate – now they just need the results June 13, 2018 There was something in the air at Elland Road last week, something not felt for some time. It was present when Marcus Rashford lashed England into the lead against Costa Rica in their final World Cup warm-up, igniting a chorus of Football’s Coming Home. A warmth and optimism – not the blind kind that haunts [...]