Smiths Group (LON: SMIN) share price falls after failing engineer expected top line March 23, 2018 Engineer Smiths today disappointed investors with weaker-than-expected half-year sales. Shares slid over eight per cent, making the firm one of London’s biggest listed losers. Revenue fell four per cent on a reported basis to £1.55bn, one per cent lower on an underlying basis. Analysts had penciled in a top line of £1.59bn Operating profit slumped [...]
Activist investor Elliott urges fellow GKN shareholders to accept Melrose’s £8.1bn hostile takeover March 23, 2018 Activist hedge fund Elliott Advisors has announced it will support Melrose’s hostile £8.1bn bid for engineering giant GKN. Elliott, which has a 3.84 per cent stake in GKN and is now its second largest shareholder, urged fellow shareholders to accept Melrose’s controversial offer. The investor also sent a letter to GKN’s board, saying it was [...]
Revealed: David Davis flies RAF class, defence minister gets £1,000 pearl necklace and Theresa May has to buy her own gift back March 23, 2018 Brexit secretary David Davis has been flying to Brussels and other European cities using RAF aircraft, costing thousands of pounds a go, while department colleagues use Eurostar. This was one of a number of details published in today’s transparency data, which has also revealed that a defence minister was handed a £1,000 pearl necklace, while [...]
A £100m studio and entertainment complex by Los Angeles-based Pacifica Ventures is coming to East London in Barking and Dagenham March 23, 2018 East Dagenham has awarded Los Angeles-based film and TV production facilities company Pacifica Ventures a 22-acre lot to build a £100m studio and entertainment complex. This will be the first new structure of its scale and type to be erected in London for decades, and mayor of London Sadiq Khan said this will further the [...]
Clock ticking: Government urged to reveal Brexit negotiating position March 23, 2018 The government has been urged to publish its negotiating guidelines for the next stage of Brexit talks, to give businesses clarity about what is being sought from the future trading relationship. This morning the EU27 waved through the transition agreement, which had been unveiled by Michel Barnier and David Davis on Monday. That means the [...]
European Union leaders give go-ahead for Brexit trade talks to begin March 23, 2018 The leaders of the EU have given the green light for Brexit negotiators to start trade talks at today’s European Council summit. The EU27, which is meeting to discuss Brexit this morning without Theresa May, has also given the transition agreement unveiled on Monday its formal seal of approval. In a statement issued this morning, [...]
World’s largest cryptocurrency exchange Binance could face criminal charges in Japan for operating without proper registration or licensing March 23, 2018 Binance, the Hong Kong-based cryptocurrency exchange that is believed to be the largest in the world by volume, has been told it could face criminal charges if it continues operating in Japan without the proper registration, permission or licensing. The Japanese Financial Services Agency issued the group a warning on Friday, which could lead to [...]
Melrose has said it will no longer make its bid for GKN dependent on US national security clearance March 23, 2018 Melrose has waived the condition it set for itself in its proposed takeover of engineering giant GKN, that meant it would need national security clearance from US authorities in order to proceed with the deal. Turnaround firm Melrose, which is pursuing an £8.1bn hostile bid for GKN, had made its offer dependent on approval from [...]
The personal data wake-up call business needs to hear March 23, 2018 TO BORROW a phrase, with great power comes great responsibility. The scandal that has erupted around Facebook and Cambridge Analytica this week has shocked the markets, with billions wiped off the value of Facebook and social media stocks hitting the skids as investors fear a regulatory backlash. The situation appears to be a dereliction of [...]
Five allies mulling Russian expulsions as EU recalls Moscow ambassador March 23, 2018 The EU has kick-started the first of what is expected to be several retaliatory measures against Russia’s involvement in the attempted murder of Sergei and Yulia Skripal, recalling its ambassador from Moscow. Dutch prime minister Mark Rutte said the EU ambassador to Russia was being recalled to consult with Brussels over the Salisbury attack, but [...]