Toshiba overstated its profits by billions, independent review finds July 20, 2015 Toshiba overstated its profits by 151.8bn yen ($0.8bn) over several years with the knowledge of senior executives. That's the findings of an independent review of goings on at the firm which was launched in April to identify irregularities in its accounting and is around three times the figure which had been expected. It's likely the [...]
Lockheed Martin buys United Tech’s Sikorsky for $9bn July 20, 2015 Lockheed Martin has confirmed reports that it has bought the maker of the Black Hawk helicopter Sikorsky from United Tech in a deal worth $9bn. United Technologies said last month that it planned to sell off Sikorsky, with Lockheed the front-runner to pick it up. The deal adds the Black Hawk helicopter, favoured by the US [...]
Taser finds UK electrifying with $4m deal for distributor TSR July 20, 2015 Taser, the US firm which makes the namesake devices used by law enforcement, has bought a British distributor of the non-lethal weapon. The Nasdaq-listed company has acquired Daventry-based Tactical Safety Responses (TSR) which distributes the Taser as well as body cameras in the UK, for a reported $4m (£2.5m). Staff and services will remain the [...]
Sofa so good: Made.com bags £40m from Partech Ventures and Fidelity Growth Partners July 20, 2015 Online retailer Made.com, which sells plush furniture at cheaper prices than on the high street, has bagged millions of pounds in new investment to fuel growth. The five-year-old company, co-founded by Brent Hoberman of Lastminute.com fame, has picked up a new round of investment totalling £38m led by Partech Growth Fund, along with Fidelity Growth [...]
Rolls-Royce secures two aerospace contracts worth over £1bn July 20, 2015 After a rocky few months in which its share price has plummeted, Rolls-Royce delivered some positive news to investors with the announcement of two new corporate contracts together worth over £1bn. Read more: Rolls-Royce share prices down 8pc following profit warning Rolls-Royce's share price rose just under one per cent in early trading after it announced [...]
Standard Chartered share price rises as Bill Winters confirms management shakeup July 20, 2015 New chief executive Bill Winters has barely been at the helm of Standard Chartered a month, but he's already made his presence felt after the bank confirmed a shakeup of its management team this morning. Read more: Challenge set for Winters on day one at StanChart Shares in the bank rose one per cent to 1,027.3p [...]
Tullow Oil share price falls as technical difficulties suspend Ghana field exports July 20, 2015 Share in UK-listed oil producer Tullow Oil fell 1.5 per cent to 277p in morning trading, after it admitted technical difficulties at one of its key fields have meant exports have been suspended and production capped since the beginning of this month. The company said exports from its Jubilee Field to the state-run Ghana Gas [...]
Mitsubishi becomes first Japanese company to make World War II apology to US soldiers July 20, 2015 The Mitsubishi Materials corporation has made a historic apology for using American prisoners of war as forced labourers during the second world war, becoming the first Japanese corporation to do so. Read more: The Japanese maglev train just broke a world speed record by hitting 377mph Hikaru Kimura, senior executive officer of Japan's largest trading company, said [...]
Barclays boss John McFarlane to join Treasury financial services board July 19, 2015 John McFarlane, executive chairman of Barclays, is set to join the Treasury’s Financial Services Trade and Investment Board (FSTIB) as an external member today. The FSTIB was set up to identify opportunities for growth across the UK financial sector. McFarlane, who has been nicknamed “Mack the Knife”, played a pivotal role in the recent high-profile [...]
Further growth expected from Metro Bank amid talk of IPO July 19, 2015 Metro Bank is expected to reveal its results by the end of this month, as it gears up towards a flotation expected to take place next year. Although whether Metro will finally unveil a profit is unclear, the results are forecast to show that the challenger bank is continuing to grow nicely. If so, it [...]