Barclays investors unfazed as bank slapped with $150m forex fine by New York State Department of Financial Services November 18, 2015 Barclays has just been slapped with an additional $150m (£98m) fine for its manipulation of the Forex markets by the New York State Department of Financial Services. The British bank has also agreed to "terminate" its global head of electronic fixed income, currencies and commodities as part of the settlement. The fine owes specifically to misconduct on [...]
Valeant’s “female viagra” pill flops with just 227 prescriptions in first month November 18, 2015 After a turbulent few weeks of allegations relating to its pricing and sales techniques, Canadian pharmaceutical giant Valeant has suffered yet another setback. Its new female libido-enhancing drug Addyi, dubbed the “female viagra”, was prescribed just 227 times during its first month on the US market, according to reports. Valeant was not immediately available to comment [...]
Billionaire Dermot Desmond throws spanner in the works of Ladbrokes’ merger with Coral November 18, 2015 Billionaire financier Dermot Desmond has today thrown a spanner in the works of bookmaker Ladbrokes’ merger with rival Coral by asking other shareholders to vote against the deal and lashing out at the company's management in the process. In a letter to his fellow Ladbrokes owners he said: Shareholders should instruct the Board to properly evaluate [...]
Hastings Group Holdings brings home revenue of £350.2m for third quarter results, as customer numbers also boosted November 18, 2015 Hastings Group Holdings revealed this morning that it had racked up net revenue of £350.2m for the nine months to 30 September 2015, up 19 per cent compared to £295.4m for the same period last year. The insurers, who listed on the London Stock Exchange in October, also saw an increase in live customer policies, rising [...]
Hikma Pharmaceuticals share price rises on improved market prospects in US November 18, 2015 London-listed Hikma Pharmaceuticals received a boost this morning, after the FDA said it no longer had an issue with the company's injectibles manufacturing plant in Portugal. The US regulatory body said it was “closing” a warning letter it sent to the firm in October last year, in which it threatened to block drugs manufactured at [...]
FTSE 100 index lower on airlines as miners’ share prices start to rise November 18, 2015 The FTSE 100 was down in mid-morning trading as International Consolidated Airlines Group (IAG) and Easyjet's share prices weighed on the index. The UK's top blue-chip index was 0.43 per cent down at 6,241 points in mid-morning trade. The FTSE 100 was lower this morning as security scares came back into play, amid fresh terror concerns following the Paris attacks. [...]
FTSE 100 investors remain bullish on UK defence – London Report November 18, 2015 News yesterday that UK consumer price inflation remained in negative figures for the second straight month – largely due to falls in food and fuel prices – pushed the FTSE up. The blue-chip index rose by 122.4 points, or 1.99 per cent, to close at 6268.7 pushing up the combined value of UK listed companies by [...]
UK businesses are cashing in on the 2016 Olympic Games in Rio de Janeiro with £100m in contracts November 18, 2015 UK companies are set to cash in on the next Olympic Games held in Rio de Janeiro next year. Some 25 British businesses have already benefitted from contracts worth more than £100m for the 2016 Olympics in Brazil, and will be “working closely” with Brazilian companies, according to UK trade and Investment. Government figures suggest the London [...]
Barclays faces new £66m forex fine November 17, 2015 Barclays is facing another $100m forex fine, according to reports in the Financial Times, as analysts suggest more litigation costs are yet to come. Sources have told the FT that Barclays is set to have to pay at least $100m in a penalty imposed by the New York Department of Financial Services for the forex [...]
Ofcom: BT charging £1.7m EE bill to Openreach “inappropriate” November 17, 2015 BT has been slammed by Ofcom for trying to let its Openreach division foot part of the bill for its acquisition of rival EE, as the deadline draws near for the telco watchdog’s probe into the UK broadband market. Openreach, which controls the country’s broadband network, has been charged £1.7m for BT’s takeover of EE, [...]