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 [...]
City voices anger at John McDonnell’s ‘financial totalitarianism’ climate change plans June 25, 2019 Shadow chancellor John McDonnell sent shockwaves through the Square Mile last night amid warnings that his plans to tackle climate change could undermine the entire financial system. In a speech to trade body UK Finance, McDonnell promised a future Labour government would delist companies with poor green credentials from the London Stock Exchange. Read more: [...]
Ranked: The best and worst UK energy suppliers June 25, 2019 The head of Citizens Advice has called for stricter requirements on energy companies as “far too many” struggle to give their customers good service. Gillian Guy said that a large number of companies are letting their customers down, as the consumer champion released its quarterly rankings. Read more: Complaints surge as more energy customers have [...]
Kevin Hollinrake accuses Treasury officials of ‘coordinated skullduggery’ over conflict-of-interest claims June 24, 2019 A prominent Tory MP involved in efforts to help small businesses caught in lending disputes has accused Treasury officials of undertaking a campaign of “coordinated skullduggery” to discredit him. Kevin Hollinrake, co-chair of the All-Party Parliamentary Group (APPG) on Fair Business Banking, said there had been a “deliberate and coordinated attempt” to undermine him over [...]