Can you Brexit-proof your investment portfolio? September 16, 2019 | City Talk The future of Brexit is unknown, but investors and traders need to be proactive if they are to avoid any sudden shocks. Here’s how you might Brexit-proof your investment portfolio. The UK hasn’t left the EU yet, but Brexit is already wielding its influence over the financial markets. For the past three years, investors and traders [...]
Eddie Stobart issues profit warning amid takeover interest September 16, 2019 Eddie Stobart has warned its underlying profits for 2019 will be “significantly below” expectations as it confirmed it had received a takeover offer from one of its shareholders. Last month the truck firm suspended shares and announced its chief executive Alex Laffey was standing down with immediate effect after it discovered a multi-million pound accounting [...]
Petra Diamonds loses its sparkle as annual profits plunge September 16, 2019 Petra Diamonds suffered a double-digit fall in annual profits during the last year as weak diamond prices dragged down the South African mining giant. London’s largest quoted diamond mining group reported adjusted core profits of $153m (£122.8m) in the 12 months to 30 June 2019, plunging 22 per cent from the previous year. Read more: [...]
Lord Livingston to step down as chair of Man Group September 16, 2019 Man Group confirmed today that its chair is to step down, making way for the ex-boss of Deutsche Bank as part of the latest boardroom shake-up inside the world’s largest listed hedge fund. Former BT boss Lord Livingston of Parkhead is to resign as chair of the FTSE 250 firm at the end of this [...]
John McDonnell pledges crackdown on City ‘enablers’ of tax avoidance September 15, 2019 Shadow chancellor John McDonnell has vowed to clamp down on City advisers engaged in promoting tax avoidance schemes, calling for hefty fines and even jail terms under a future Labour government. McDonnell directed his fire at “big accountancy firms” which he called “enablers” of tax avoidance, the term used to describe legal efforts to minimise [...]
Hong Kong bourse to tell LSE investors: Ditch Refinitiv for us September 15, 2019 Hong Kong’s stock exchange will this week try to convince London Stock Exchange (LSE) shareholders that its proposed £32bn takeover is a better deal than LSE’s tie-up with data firm Refinitiv. Read more: Hong Kong hits back at London Stock Exchange over £32bn deal proposal Hong Kong Exchanges and Securities (HKEX) will hold meetings and [...]
Lib Dems vow to scrap Brexit if they win general election September 15, 2019 The Liberal Democrats have vowed to cancel Brexit if they win a majority at the next general election. Members of the party today voted in favour of a motion to revoke Article 50 – the mechanism that allows the UK to leave the EU – if they emerge as the largest party in a national [...]
Sam Gyimah is the latest MP to join the Liberal Democrats September 15, 2019 Former Tory MP Sam Gyimah has become the latest MP to join the Liberal Democrats. The former Tory leadership hopeful was one of the 21 Tory MPs to have the whip removed for supporting a bill to block a n o-deal Brexit last week, which became law on Monday. Read more: Liberal Democrats to vote [...]
Heathrow exec warns of potential budget bust – and likens expansion to Tottenham Hotspur stadium September 12, 2019 A Heathrow director has likened the airport’s £14bn expansion plan to Tottenham Hotspur’s new football stadium, which ran massively over budget. Emma Gilthorpe, Heathrow’s executive director for expansion, said major infrastructure projects were “very challenging to deliver” and that details were “pinned down” far too early in the process. Read more: ‘Massive gravy train: British [...]
City of London U-turns over decision to strip Aung San Suu Kyi of freedom award September 12, 2019 The City of London Corporation has U-turned on an earlier decision to strip Aung San Suu Kyi of her honorary freedom award over her failure to condemn the ongoing violence against the Rohingya people in Myanmar. The Corporation’s freedom applications committee today decided that Suu Kyi’s honorary freedom – the highest honour the Corporation can bestow [...]