Hong Kong bourse posts profit drop amid civil unrest and trade war November 6, 2019 Hong Kong’s bourse has reported a fall in profit during the last quarter, as months of political unrest took its toll on the stock exchange operator. Profit at the Hong Kong Exchanges and Clearing (HKEX) hit HK$2.2bn ($217.8m) in the three months to September, tumbling 9.5 per cent compared to the same period last year. [...]
Vision Fund’s Wework splurge drags Softbank to $6.4bn loss November 6, 2019 Softbank’s Vision Fund’s soured bets on tech prospects like Uber and Wework saw the fund lose $8.9bn and drag its parent company to its first quarterly loss in 14 years today. Softbank’s high profile splurge on Wework saw the company fall to a $6.4bn quarterly loss in results revealed today. Read more: Wework hits the [...]
Norwegian Air slumps after third share sale November 6, 2019 Shares in Norwegian Air fell more than nine per cent this morning after the struggling airline last night launched its third share sale in two years and a bond issue. The company raised 2.5bn kr (£211.5m) to meet its cash needs through 2020 after selling 27.25m new shares at 40 kr per share. Read more: [...]
Boris Johnson compares Jeremy Corbyn to Soviet dictator Joseph Stalin November 6, 2019 Prime Minister Boris Johnson yesterday compared Labour leader Jeremy Corbyn to former Soviet dictator Joseph Stalin. Johnson wrote that Corbyn’s attack on a group of billionaires – including retail magnate Mike Ashley and hedge fund manager Crispin Odey – was reminiscent of Stalin’s brutal collectivisation campaign in the 1930s which led to an estimated half [...]
Cybersecurity firm Sophos posts loss ahead of £3bn sale November 6, 2019 Cybersecurity firm Sophos today posted a loss for the first half of the year, blaming restructuring and legal costs. The UK listed firm is set to be taken private after accepting a £3bn takeover bid from US private equity firm Thoma Bravo last month. It today announced a loss before tax of $1.5m (£1.16m) for [...]
Marks & Spencer profit knocked lower by poor clothing sales November 6, 2019 Weak clothing and home sales knocked profit 17 per cent lower at Marks & Spencer in its latest half-year, it revealed today. But the high street chain’s share price led the FTSE risers, climbing up 5.3 per cent to 192.05p, as investors felt it could have been a lot worse as boss Steve Rowe said [...]
SocGen profit slumps amid major restructuring November 6, 2019 Societe Generale has posted a steep drop in profit for the third quarter of this year, missing analyst expectations amid a major restructuring effort. The bank reported net profit of €854m (£734m) for the three month period, dropping almost 35 per cent when compared to the same quarter last year. Analysts expected a net income [...]
Rape victim calls on Alun Cairns to quit cabinet amid Ross England row November 6, 2019 A rape victim has urged cabinet minister Alun Cairns to quit after his former aide “sabotaged” her trial. Welsh secretary Alun Cairns’ former aide, Ross England, made claims about the victim’s sexual history – that she denied – that led to the trial’s collapse in April 2018. Read more: Why London could hold the key [...]
Not all engineers wear hard hats and high-vis jackets November 6, 2019 What do prosthetic limbs, cosmetics, clean water, YouTube, and biodegradable plastic alternatives have in common? None of them would exist without engineers – but that would likely come as a surprise to most people. Unfortunately, we suffer from narrow and outdated stereotypes of what engineers do and the role they play in society. And this [...]
The Berlin Wall is not just a piece of history – the manner of its crumbling contains lessons for the present November 6, 2019 Thirty years ago this Saturday, on 9 November 1989, one of the greatest symbols of oppression the world has ever known began to be dismantled. The Berlin Wall had stood since 1961, built by its East German masters to encircle Allied-controlled West Berlin. But it was much more than simply a barricade. It became the [...]