Acacia Mining’s output continues to drag amid Tanzania export ban but tops expectations January 15, 2018 Acacia Mining’s output dropped in the fourth quarter of 2017 due to an ongoing dispute with the government of Tanzania, but the firm still managed to beat its revised expectations. Shares in the London-listed firm were up just over one per cent to 196.5p at the time of writing. Gold production in the three months [...]
Number 10 Cobra committee to meet to discuss Carillion’s collapse January 15, 2018 The government’s emergency Cobra committee is meeting today to discuss Carillion’s collapse. Carrillion announced this morning that it had filed for liquidation, putting 20,000 UK jobs at risk. The construction giant was struggling under the weight of its £1.5bn debt pile, and talks with lenders and the government over the weekend failed. Read more: Bumper [...]
Carillion crisis: Millions paid to former execs “does no good to the reputation of UK business” January 15, 2018 Bumper payouts to top former execs at collapsed contractor Carillion have put the reputation of Britain’s top bosses on the line, the Institute of Directors has warned. Carillion fell into liquidation this morning after eleventh-hour talks failed to save the debt-laden contractor. The insolvency marked the end to a tumultuous six months, kicked off when [...]
Airbus could shut down production of its A380 superjumbo without Emirates deal January 15, 2018 Fresh uncertainty has been thrown over the future of Airbus’ A380, the world’s biggest passenger jet, as the company said it could shut down production if it can’t strike a deal with Emirates. In a webcast today, John Leahy, the company’s sales chief, said: “If we can’t work out a deal with Emirates I think [...]
Sterling rises above $1.38 for the first time since the Brexit vote January 15, 2018 Sterling has climbed above $1.38 for the first time since the Brexit vote this morning. The pound has been boosted by reports saying Spain and the Netherlands are seeking out a soft Brexit, combined with a relatively benign political climate in Westminster. Read more: HS2 “not at risk” after Carillion collapses, government says Meanwhile, consumer [...]
Gina Miller is planning to sue the FCA over its lenient approach to new Mifid II regulation January 15, 2018 Brexit campaigner Gina Miller has once again stolen the limelight, with a plan to sue the City watchdog over its lenient approach to new regulation. Miller, who came to public fame after winning a high-profile case which ruled that parliament had to legislate before the government could begin to withdraw the UK from the EU, [...]
This fintech firm, robo-adviser Netwealth, is aiming to steal the dinner off wealth managers’ plates by targeting the super-rich January 15, 2018 For well-off individuals looking to outsource the day-to-day investment of their pounds, wealth managers have long looked like the best option. Yet for an industry driven by huge amounts of money and used by professionals ranging from entrepreneurs to technology titans, there has been surprisingly little innovation. For high-net-worth investors, using a wealth manager is [...]
Ukip leader Henry Bolton dumps girlfriend over racist Meghan Markle comments January 15, 2018 Ukip leader Henry Bolton has ended his relationship with glamour model Jo Marney after it emerged she had made racist comments about actress and princess-in-waiting Meghan Markle. Bolton had been facing calls to resign in the wake of the scandal, with the Mail on Sunday revealing Marney had repeatedly used the word “negro” and said [...]
William Hill is reviewing its Australian business in light of gambling regulation changes January 15, 2018 Bookie William Hill had begun a strategic review into its business in Australia, as the business comes under more pressure from new regulation. The group said this morning that its Australian arm had been affected by reduced credit betting volumes following a ban on bookmakers offering lines of credits. Regulation is only set to increase, [...]
Carillion collapse: Thousands of jobs at risk as Carillion files for liquidation after unsuccessful talks with government January 15, 2018 Troubled construction firm Carillion has been forced to enter liquidation after unsuccessful rescue talks with the government and lenders over the weekend. The company filed for a compulsory liquidation this morning, and it said the government will provide the funding required by the official receiver, or the liquidator, to maintain existing public services contracts. PwC [...]