Oxford Street discounts signal a troubling start to the summer for retailers June 25, 2019 The crucial summer selling season is finally upon us, but for retailers on London’s most celebrated high street, all is not well. Big red discounts in shop windows line the parade on Oxford Street, where many of the country’s flagship fashion stores are offering major price reductions in a desperate bid to boost their sales. [...]
Petrofac loses out on $10bn in contracts amid SFO probe June 25, 2019 A Serious Fraud Office investigation into Petrofac has made the company lose out on $10bn (£7.8bn) of contracts, its chief financial officer said today. Alastair Cochran said that a guilty please from its former head of sales, David Lufkin, came just as Petrofac was bidding for contracts. The oilfield servicer lost about $2bn to $3bn [...]
Boris Johnson challenges Jeremy Hunt to commit to 31 October Brexit date June 25, 2019 Boris Johnson has challenged his leadership rival Jeremy Hunt to commit to bringing the UK out of the EU on 31 October – regardless of whether a deal has been agreed. In a letter published on his Twitter feed, Johnson argues Brexit must take place by the end of the extension period – or the [...]
London exchanges tell clients they may have to delist Swiss stocks in EU equivalence row June 25, 2019 London-based exchanges have warned clients that they will be unable to trade Swiss stocks after 30 June because of a spat between Switzerland and the European Union. Cboe Europe, Aquis Exchange and UBS have all told clients they will be unable to trade Swiss stocks in London starting next week. In a note to clients [...]
Car crash for Lookers: Motor dealer’s shares dive as FCA launch probe June 25, 2019 Motor retail giant Lookers suffered a crash in its share price this afternoon after revealing that the City watchdog is probing its sales practices. The car dealership chain’s share price dived 25 per cent this afternoon as the firm said that the Financial Conduct Authority (FCA) “intents to carry out an investigation into the company’s [...]
Sandfire takes MOD Resources private in £91m deal June 25, 2019 An Australian miner will pay AU$167m (£91m) for London-listed MOD Resources, it said today, in a deal back by at least one major shareholder. Sydney-listed Sandfire said the deal gives it a chance to take on the “under-explored” Kalahari copper belt in Botswana. Read more: Shareholder Barrick ‘undermined’ our efforts to negotiate $190bn tax bill, [...]
New Prime Minister to be revealed on 23 July June 25, 2019 The Conservative party has confirmed it will announce its new leader, the country’s next Prime Minister, on Tuesday, 23 July. Read more: It’s Boris vs Jeremy, so what happens next? Either Boris Johnson or foreign secretary Jeremy Hunt will become the new Tory party leader depending on the outcome of a postal vote among 160,000 [...]
Boris Johnson: UK will leave EU on 31 October ‘come what may’ June 25, 2019 Boris Johnson has confirmed the UK will leave the EU on 31 October “come what may” if he is elected Conservative leader as he ruled out another extension to the Brexit talks. The frontrunner in the race to be the next Prime Minister said on Tuesday morning it was a case of “do or die” [...]
Coast Capital and First Group in showdown ahead of meeting June 25, 2019 Activist investor Coast Capital has accused the board of First Group of failing to inform all shareholders of its plans ahead of a meeting this afternoon. The New York hedge fund said First, the train and bus operator, had told some shareholders that “everything is for sale at the right price”, going against itspublic strategy. [...]
James Purdey & Sons partners with the new City A.M. Club June 25, 2019 You are invited to visit James Purdey & Sons Ltd at Audley House, a shop, historical collection and shrine to the traditional British sporting and country life. If there is one name that epitomises the British country sporting weekend, it’s Purdey. The choice of every British monarch since Queen Victoria, Purdey has become the essential [...]