Rachel Reeves: Saudi Aramco listing risks “watering down” UK’s reputation for corporate governance November 9, 2017 A second MP has suggested she is against the Saudi Aramco megalisting coming to London, saying she is “sceptical” of the value it brings to the UK and warning it could “water down” the country’s reputation for corporate governance. Rachel Reeves, chair of the influential Business, Enterprise, Innovation and Skills (BEIS) committee, told City A.M. [...]
Housebuilder share prices are being pushed lower for the second day: Redrow, Persimmon, Taylor Wimpey, Barratt and Berkeley Group drop November 9, 2017 Shares in housebuilders tumbled for the second consecutive day this morning, after a double whammy of bad news from the Royal Institution of Chartered Surveyors (RICS) and housebuilder Redrow spooked investors. On the FTSE 100, Persimmon was the biggest faller, dropping 2.6 per cent, but Taylor Wimpey, Barratt and Berkeley Group all slid lower. On [...]
Tories demand Theresa May replace Patel with “Brexit enthusiast” November 9, 2017 Tory MPs have urged Theresa May to replace Priti Patel with a “Brexit enthusiast” after the Leave-supporting minister was forced to resign last night. Patel stepped down as international development secretary after further revelations about her meetings with Israeli officials came to light. She told the Prime Minister her actions had “fallen short” of what [...]
A self-driving shuttle crashed on its very first day on the road November 9, 2017 Things don’t always run smoothly when it comes to technology, especially when that technology is the kind that’s doing things by itself without human intervention, it turns out. Test of self-driving technology have been de-railed after one of the autonomous pods crashed on its very first day. The Navya and Keolis vehicle collided with a [...]
Tesco fraud trial: Former chairman Sir Richard Broadbent gives evidence November 9, 2017 Former Tesco chairman Sir Richard Broadbent told a court yesterday of the pressure facing Tesco in 2014 which caused him to replace the company’s chief executive. As early as 2013, Broadbent told the jury, “you could tell results were beginning to show a downward trend”. He said he had taken the decision to find a [...]
Lloyd’s of London firm Beazley ups catastrophe profit hit to $175m November 9, 2017 Lloyd’s of London insurer Beazley today took a fresh $25m (£19m) catastrophe hit after upping its losses to $175m following a freak year of natural disasters. The insurer said it needed to increase provisions for additional claims following the recent California wildfires. Insured losses would be between $200-300m, net of reinsurance, from natural catastrophes in [...]
Bitcoin price (BTC) falls back from latest record high after Segwit2x “fork” suspended November 9, 2017 Bitcoin has fallen back from its latest record high after plans to split the cryptocurrency were suspended. It surged past $7,800 late on Wednesday evening, a fresh all-time high, when it was revealed that there was not enough backing for the so-called fork known as Segwit2x that would have increased transaction capacity. Read more: Bitcoin: [...]
Iranian TV says Boris Johnson has revealed the “plot” about Nazanin Zaghari-Ratcliffe November 9, 2017 Iranian state TV has said Boris Johnson’s comments on Nazanin Zaghari-Ratcliffe were an “unintended confession”, contradicting the foreign secretary’s own claims to parliament. Last night a broadcast said the minister had inadvertently revealed “the real plot”, offering “proof” that the Iranian government’s charges against Zaghari-Ratcliffe were valid. The comments were translated by BBC Persian reporter [...]
Burberry share price drops: New CEO Marco Gobbetti pushes forward on vision for the brand after Christopher Bailey departure November 9, 2017 Burberry’s new chief executive has set out his vision for the company’s growth this morning, as it revealed a modest increase profit expectations. The market responded negatively to Gobbetti’s idea to push the brand upmarket, with shares down as much as 13 per cent in early trading, currently down almost 10 per cent at 1,793p. [...]
International James Dyson Award 2017 winner is SKan, a device to spot melanoma skin cancer November 9, 2017 The inventors of a device which could prevent thousands of deaths by easily spotting melanoma skin cancer has been awarded the prestigious international James Dyson award. The SKan device uses heat detection to allow doctors to identify melanoma accurately, at a fraction of the current cost. Current early diagnostic methods for melanoma rely on visual [...]