Ex-London Stock Exchange boss Xavier Rolet to step down from CQS role January 22, 2020 Ex-London Stock Exchange chief executive Xavier Rolet is stepping down as chief executive of asset manager CQS after just a year, the company said today. Rolet will step down as chief executive next month but will remain with the business as an adviser on strategy and client development. Chief financial officer Serge Harry, who worked [...]
Boeing 737 Max to resume production ‘months’ earlier than expected January 22, 2020 Boeing chief executive Dave Calhoun today said he expects the 737 Max aeroplane to return to production earlier than previously stipulated. The US plane maker in December halted all production of the 737 Max jet following two deadly crashes that killed 346 people. On Tuesday the company announced that the grounded jet would return to [...]
Struggling South Western Railway could be nationalised, says transport secretary Grant Shapps January 22, 2020 The South Western Railway franchise could be nationalised in the coming months after transport secretary Grant Shapps today declared it financially “not sustainable”. South Western, which is run by First Group and Hong Kong firm MTR, has been plagued by delays, poor performance and a series of damaging strikes in recent months. The franchise lost [...]
Bish bash Bosch: German giant gives £38m endorsement to UK fuel cell maker Ceres Power January 22, 2020 Ceres Power, the British fuel cell maker, got a £38m vote of confidence from German engineering giant Bosch this morning. The Aim-listed firm’s shares rocketed 12 per cent today on the announcement that Bosch had increased its stake in the company. Bosch increased its share in Ceres Power to 18 per cent, leaving the British [...]
Tesla becomes world’s second most valuable car maker at $100bn January 22, 2020 Tesla’s market capitalisation soared past the $100bn mark today as shares rallied, making it the world’s second most valuable car maker and putting chief executive Elon Musk in line for a big payday. Tesla shares have risen more than eight per cent today to hit an intra-day high of $594.48, pushing its market capitalisation up [...]
Mayoral candidates attack each other over crime as Khan hits out at government funding commitment January 22, 2020 Sadiq Khan has accused the government of failing to match police resources from a decade ago, as the mayor comes under further attack over a surge in London’s knife crime. Khan, who is currently fending off criticism for failing to keep crime under control, argued the police funding settlement announced today would not go far [...]
Not as easy as 1,2,3: Seven accounting errors that rocked FTSE firms January 22, 2020 Ted Baker today experienced the dubious honour of joining a list of FTSE firms that have been shaken by accounting errors in the past year. The fashion retailer revealed an accounting error was more than twice as bad as it previously thought, knocking shares down seven per cent. But it is by no means the [...]
Wework sells software firm Teem as it slims down after float fiasco January 22, 2020 Wework today said it has sold management software firm Teem as the troubled coworking company offloads fringe businesses after its botched initial public offering (IPO) last year. The sale to digital workplace solutions provider iOffice came as Wework also offloaded its minority stake in coworking startup The Wing. Wework said the deals, whose values were [...]
Saudi Arabia was involved in Jeff Bezos phone hack, UN says January 22, 2020 Two UN officials have said that Saudi crown prince Mohammed bin Salman may have been involved in a plot to hack Amazon founder Jeff Bezos’ phone. Analysis commissioned by Bezos’ security team concluded that a Whatsapp message from Crown Prince Mohammed bin Salman included a malicious file that infiltrated Bezos’ phone. The UN special rapporteurs, [...]
Tax system gives tech giants ‘unfair advantage’, says Publicis boss January 22, 2020 Tech giants have an “unfair advantage” and a clampdown on the amount of tax they pay will help to level the playing field, the boss of Publicis has said. Maurice Levy, chairman of the French media giant, today said he did not believe it was fair that digital firms could benefit from infrastructure and consumers [...]