Steinhoff to sell off assets in bid to cut debt pile August 13, 2019 Embattled global retailer Steinhoff said today that it will sell off assets in the wake of a $7bn (£5.8bn) accountancy scandal. In a bid to slash its debt pile, the troubled South African giant revealed plans to slim down into a retail-focused investment holding company. Read more: Restaurants eat into retailers’ high street share Chief [...]
City watchdog delays new online payments rules after industry appeals for more time August 13, 2019 The financial regulator has agreed to delay new rules on online payments for 18 months after industry bodies called for more time to adapt to the changes. The new rules, known as strong customer authentication (SCA), will create an additional layer of verification for online payments to help reduce fraud. Read more: City watchdog launches [...]
UK lawyers taking Belgian citizenship in case of no-deal Brexit August 13, 2019 UK lawyers in Brussels are taking Belgian citizenship in order to keep practising before the European courts post-Brexit. Brussels is a key centre for competition law and most large international law firms have an office there to advise clients on European law issues. Trevor Soames, a Brussels-based partner with US law firm Quinn Emanuel who [...]
Positive global income trends August 13, 2019 | Sponsored Ben Lofthouse, Fund Manager of Henderson International Income Trust, outlines some of the positive income trends from around the world, which the Trust has benefited from; and he explains how the Trust is impacted by the ongoing trade war.
Has the value comeback been postponed? August 13, 2019 | Sponsored Alex Crooke, Fund Manager for Bankers Investment Trust, explains why his predictions for the second half of the year have changed as political uncertainty continues to hamper business confidence. Alex also gives an update on asset allocation within the portfolio, particularly in light of the China-US trade war.
Rival Silvertown Tunnel bidder launches legal action against TfL August 13, 2019 A rival bidder for the proposed Silvertown Tunnel has launched legal action against Transport for London (TfL), preventing it from signing the £1bn contract. TfL awarded the contract to build and design the tunnel in East London to Riverlinx, a consortium that includes Aberdeen Standard Investments (ASI), Cintra and Macquarie Capital. Read more: TfL awards [...]
Trafigura teams up ahead of polluting shipping fuel ban August 13, 2019 Trafigura has said it plans to join up with two Norwegian-owned shipping firms to start supplying shipping fuels. The commodity trader said it was launching a joint venture with Frontline and Golden Ocean as the industry prepares for tough new fuel standards from the beginning of next year. Read more: Why the shipping industry is [...]
Exxon Mobil prepares exit from the British North Sea August 13, 2019 Exxon Mobil it poised to end a decades-long love affair with the British North Sea, becoming the latest US oil major to pull back and re-group on home soil. The company has been sounding out fellow North Sea operators to find a suitable buyer for its assets in the basin, which could sell for up [...]
Late holidays cause slump in Getlink passenger traffic August 13, 2019 Getlink, the Channel Tunnel operator, reported slumps in its truck and car traffic figures in July, which it blamed on a slowdown in UK consumption and later holiday departures. Getlink, which used to be called Eurotunnel, transports passenger vehicles and commercial vehicles across the Channel. Read more: Getlink blames Brexit for slump in traffic numbers [...]
PM braced for September showdown over parliament suspension threat August 13, 2019 A court case designed to stop Boris Johnson suspending parliament to force through a no-deal Brexit has been fast-tracked for the first week of September – when MPs return from summer recess. The case, which was heard this morning in Edinburgh’s Court of Session while English courts are closed for the holidays, has been signed [...]