Chinese steelmakers hit out at US tariff hike May 19, 2016 Chinese steelmakers hit out at the US' decision to slap imports of their products with a five-fold tax hike, marking an increase in the ongoing trade war. Asked if China will appeal the US anti-dumping duties at the World Trade Organisation, Liu Zhenjiang, secretary general of the China Iron and Steel Association told Reuters: "There's too much trade [...]
Well, this is awkward: Now the Tories have re-selected a Tooting MP candidate with “extremist” ties May 19, 2016 The Conservatives have reselected a by-election candidate for Tooting, despite reported links with a man David Cameron has called an extremist. The Conservatives have confirmed local campaigner Dan Watkins will again seek to win the Tooting parliamentary seat in a by-election. However, it comes despite reports Watkins enlisted the support of Tooting imam Suliman Gani in [...]
Uber’s driverless cars have hit the roads May 19, 2016 Uber is the latest company to get its driverless car plans into gear, with test vehicles hitting the roads of Pittsburgh, the location of its Advanced Technologies Centre. The billion dollar startup is embracing more technology with Ford Fusion cars which drive themselves. The head of the research centre John Bares told the Pittsburgh Tribune [...]
This is how many financial services firms are not prepared for a Brexit May 19, 2016 Around one in three financial services firms will not have a clue what to do should UK vote to leave the EU on 23 June, figures published today show. Pinsent Masons has released further information on a study into business' preparation for a potential Brexit, this time honing in on the financial services sector, and [...]
Former Pizza Express owner Cinven weighing takeover of Frankie & Benny’s owner Restaurant Group May 19, 2016 Frankie & Benny's owner Restaurant Group's share price jumped over six per cent after reports that Cinven is considering a bid for the group. The former owner of Pizza Express is thought to be considering a takeover bid for the struggling company, which operates Garfunkel's restaurant chain. Cinven is in the early stages of evaluating an [...]
Plain packaging: Here are six reactions to today’s High Court ruling on cigarette packets in the UK that will be introduced tomorrow May 19, 2016 This afternoon the High Court ruled against a legal challenge brought forward by big tobacco companies to try and avert new plain packaging laws that will be implemented tomorrow. The world's big four tobacco companies were involved in the legal challenge, which was led by Philip Morris International and British American Tobacco. Japan Tobacco International [...]
Euro 2016: French intelligence chief warns of Islamic State attacks May 19, 2016 Security fears over Euro 2016 have been raised after the country's spy chief warned that Islamic State terrorists are planning a series of bomb attacks on large crowds. The Euro 2016 football tournament kicks-off in France next month amid fears of a possible terror attack first triggered when an international friendly was targeted by suicide [...]
Labour Leave chair: “falling house prices should be welcomed” May 19, 2016 The chair of Labour Leave has condemned fears around the impact of a Brexit vote on the housing market, stating that the UK should seek a reduction in houseprices. John Mills, chairman of household goods business JML and Labour's largest individual donor, made the comments after a survey of the National Association of Estate Agents [...]
Oil services groups FMC Technologies and Technip to team up in $13bn deal May 19, 2016 France's Technip and US rival FMC Technologies said today they would merge to create an oil services company worth $13bn (£8.9bn). It comes as the industry has been enacting cost cuts to weather the oil price rout which has hit exploration and production. Technip and FMC expect the all-share deal to save at least $400m in annual costs by 2019. Read [...]
Keydata’s former compliance officer banned by watchdog, but £200k fine dropped May 19, 2016 The City watchdog has today banned the ex-compliance officer of Keydata Investment Services from performing any function related to regulated financial activities. The Financial Conduct Authority (FCA) found that Peter Johnson failed to act with integrity, and misled the Financial Services Authority (FSA) – the FCA's predecessor – on a number of occasions. Johnson also would have been fined £200,000, [...]