Uber under investigation by US and foreign tax authorities June 4, 2019 Uber has revealed it is under investigation by a string of tax authorities in the US and abroad. The ride-hailing firm said in a filing today that the Internal Revenue Service (IRS) has launched a probe into its taxes for 2013 and 2014. Read more: Uber loses $1bn in first quarterly results since stock market [...]
Shares in Woodford investment trust plunge after fund suspension June 4, 2019 Shares in Neil Woodford’s investment trust plunged this morning after the former star trader was forced to suspend trading in his flagship fund as investors flocked to the exit. Woodford Patient Capital Trust shares fell more than 19 per cent to a low of 61.3p before recovering slightly to 71.54p this afternoon. Read more: Neil [...]
Metro Bank shares recover as investors approve £375m capital raise June 4, 2019 Metro Bank shares have recovered from yesterday’s slump after investors approved the challenger bank’s £375m capital raise. Shares have risen more than five per cent today to 657p, having dropped 8.5 per cent yesterday as pressure mounted on the bank over legal claims and regulatory probes. More than 92 per cent of shareholders yesterday voted [...]
James Cleverly withdraws from Tory leadership race June 4, 2019 James Cleverly has pulled out of the race to become the next Tory leader, citing a lack of support among MPs. The Brexit minister and former deputy party chairman announced he was running for the leadership at the end of last week. In a statement, Cleverly said: “Last week I announced that I intended to [...]
Eurozone inflation slips to well below ECB target June 4, 2019 Annual inflation in the Eurozone fell considerably in May, according to official statistics released today, taking it well below the European Central Bank’s (ECB) target. Read more: The euro falls as ECB chief Draghi delivers pessimistic verdict on Eurozone economy Inflation in the euro area fell to 1.2 per cent in May, a first estimate [...]
UK M&A value plunges in run up to March Brexit deadline June 4, 2019 The value of UK mergers and acquisitions plunged in the first quarter of this year as business confidence was impacted by the March Brexit deadline. The value of deals that saw foreign companies buy UK firms fell 83.7 per cent compared to the fourth quarter of last year. Read more: US and UK M&A deals [...]
Financial services bosses are the most trustworthy June 4, 2019 Bosses in the financial services sector are the most trusted despite overall trust in chief executives falling since the beginning of the decade. Employees’ trust in their chief executives has fallen eight per cent since 2011, according to a report by The Institute of Leadership & Management published today. A series of high profile bumper [...]
Global signs Love Island podcast deal with ITV June 4, 2019 Media giant Global has secured a two-year deal to host ITV podcasts on its Global Player app and promote them across its radio stations. Global, which is the UK’s largest commercial radio company, will acquire a string of hit podcasts including Love Island: The Morning After, which coincides with the return of ITV’s wildly-popular reality [...]
Trump meets FTSE business leaders over breakfast June 4, 2019 Business leaders will sit down for breakfast with US President Donald Trump this morning as part of a bid to strengthen transatlantic relations, as fears over an impending global trade war continue to mount. Representatives from 10 leading companies – five from the UK and five from the US – will break bread at St [...]
Shares in car manual publisher Haynes soar as it eyes sharp profit growth June 4, 2019 Shares in Haynes Publishing Group jumped as much as 11 per cent this morning after it forecast a sharp rise in full-year profit. Read more: Haynes shares soar as growing digital business boosts half-year results Haynes, the publisher behind the famous car repair manuals, said it expected pre-tax profit to rise roughly 24 per cent [...]