Johnson & Johnson battles reputation crisis amid opioid epidemic October 8, 2019 Pharmaceutical giant Johnson & Johnson is battling a reputation crisis worsened by its involvement in the opioid crisis sweeping the US, according to the latest research. The brand has fallen from 8th position in 2014 to 57th place this year on a ranking of 58 global pharmaceutical companies. Read more: Johnson & Johnson fined $572m [...]
Trio of ex-Barclays bankers accused of lying in Old Bailey fraud trial October 8, 2019 Three senior former Barclays executives were today accused of lying about disguised payments to Qatar to facilitate a massive investment in the bank at the height of the financial crisis. The three senior former executives – Roger Jenkins, Thomas Kalaris and Richard Boath – are standing trial at the Old Bailey on fraud charges. The [...]
Hong Kong abandons £32bn bid for London Stock Exchange October 8, 2019 Shares in the London Stock Exchange (LSE) dropped as much as six per cent today after Hong Kong Exchanges and Clearing (HKEX) confirmed it has abandoned its audacious £32bn takeover bid. “HKEX confirms that it does not intend to make an offer for LSE,” it told the market on open. Read more: Shareholders tell HKEX [...]
Softbank executive suggests Wework should stay private until it can ‘demonstrate cash flow’ October 8, 2019 The tech world has been rocked by a string of disappointing or cancelled IPOs this year, as companies failed to convert huge private valuations into success on public exchanges. One Softbank executive has suggested a novel solution: firms should wait until they can demonstrate suitable levels of cash flow before listing publicly. Asked about the [...]
Space race: Boeing invests $20m in Richard Branson’s Virgin Galactic as it prepares public listing October 8, 2019 Boeing is to invest $20m in Sir Richard Branson’s space-tourism venture Virgin Galactic, meaning it will have more money to take on rivals such as Elon Musk and Jeff Bezos in the commercial space race. Branson founded space venture Virgin Galactic in a bid to cash in on rising demand for space travel. He is [...]
Vodafone to shut 1,000 stores across Europe amid rise in online shopping October 8, 2019 Vodafone will close more than 1,000 of its stores across Europe and overhaul some of its remaining outlets as it looks to adapt to declining footfall on the high street. Read more: IBM and Vodafone’s $550m joint venture secures first deal Group chief executive Nick Read today said the telecoms firm will shut 15 per [...]
US stocks open lower as fears of trade war escalation knocks confidence October 8, 2019 US stocks tumbled after the opening bell today as investor anxiety mounted ahead of crunch trade talks between Washington and Beijing. Optimism among traders was knocked this afternoon after the US blacklisted almost 30 Chinese groups from buying US-made goods. Read more: Sterling tumbles as Brexit deal hopes ‘snuffed out’ The tech-focused Nasqad index dipped [...]
Why piracy means the sports broadcasting rights bubble is ‘about to burst’ October 8, 2019 The value of sports broadcast rights is on the verge of collapse due to rampant piracy, the head of the world’s largest investor in managed rights has warned. Yousef Al-Obaidly, chief executive of Qatari media network beIN, said the “glorious media rights bubble” was set to burst due to the large-scale piracy of sports competitions [...]
Extinction Rebellion London protests: Arrests reach 380 as activists glue themselves to lorry outside Home Office October 8, 2019 Members of Extinction Rebellion have glued themselves to the underside of a lorry which is blocking road outside the Home Office. Police officers have been seen removing protesters from the top of the lorry, which is parked on Marsham Street. Read more: London City Airport braces for Extinction Rebellion shutdown Two protesters have also glued [...]
Thomas Crooks: Fraudsters target refund process for collapsed airline October 8, 2019 People trying to claim refunds on flights and hotels booked with collapsed holiday giant Thomas Cook have been warned about possible fraudsters trying to get hold of their details. Britain’s aviation regulator the Civil Aviation Authority (CAA) said this afternoon it had been forced to take “urgent action” against fraudulent activity in relation to the [...]