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 [...]
Marks and Spencer turnaround: Retail veteran Steve Rowe must make M&S tills jingle all the way during Christmas period November 9, 2017 Marks and Spencer started this week on a cheery note with the launch of its Christmas advert – but the festive feel didn’t last long for the high-street stalwart. The new advert sent Twitter into a tizzy on Tuesday with some viewers convinced that one of the characters was mouthing a swear word in a [...]
Priti dire: No way forward for May’s shambolic government November 9, 2017 Where to start with the Priti Patel case? The secretary for international development has created a media storm of such epic proportions that it has clouded out all the other competing scandals within Theresa May’s cabinet (more on them later). To recap, it transpired last week that Patel had held undisclosed meetings with key Israeli [...]
Australia poised to sign fintech deal with the UK Treasury November 9, 2017 Australia is poised to sign a fintech deal with the UK to boost crosstalk in one of Britain’s fastest-growing industries, City A.M. can reveal. The Treasury is working on an agreement to aid co-operation on fintech between the regulatory authorities in the UK and Australia. Read more: Investec and Banco Sabadell are backing hot UK [...]
UK house price: London house prices still under pressure from tax changes, according to Rics November 9, 2017 Home sales in the capital fell again last month as London’s housing market continued to feel the effects of tax changes brought in last year. A survey by the Royal Institution of Chartered Surveyors (Rics) found agreed sales dropped in October with 42 per cent more respondents noting a decline in transactions over the month. [...]