Lloyds to pay £140m to settle Standard Life Aberdeen row July 22, 2019 Lloyds Bank is to pay Standard Life Aberdeen (SLA) around £140m in a settlement that could end their long-running dispute over an asset management contract. Read more: Standard Life Aberdeen wins dispute with Lloyds The Edinburgh-based investment company would keep control of £30bn of assets for three years as well as receiving the cash payment, [...]
US sanctions blamed for Huawei 5G decision delay July 22, 2019 The government has put off a decision on whether Chinese telecoms giant Huawei should be part of the construction of the UK’s next-generation 5G networks, saying US sanctions might stop the firm from being a viable long-term partner. Read more: Next PM urged to prioritise Huawei decision The delay means the next government, which will [...]
Odey hedge fund backs Barrick Gold takeover of Acacia Mining July 22, 2019 London-based hedge fund Odey Asset Management said today that it will accept Barrick Gold’s final offer to buy Acacia Mining after months of opposition to the deal. Read more: Acacia accept increased takeover bid from Barrick The news came three days after Canadian gold miner Barrick reached an agreement to buy the remaining shares in [...]
Iran guilty of piracy, Jeremy Hunt claims July 22, 2019 Jeremy Hunt accused Iran of “state piracy” yesterday as he announced the UK was shunning the US in favour of a European response to the tensions in the Gulf. The foreign secretary launched the verbal attack on Tehran after Iranian soldiers seized a British-flagged tanker in the region on Friday. Hunt urged Iran to release [...]
Government intervenes in Inmarsat deal on national security grounds July 22, 2019 The UK government is to investigate the sale of London-listed satellite company Inmarsat to a private-equity and pension fund group on national security grounds, it said today. Read more: Inmarsat bidders look to appease government Inmarsat, Britain’s biggest satellite company, agreed in March to be bought by an international group including buyout firms Apax and [...]
Speculation mounts over potential job cuts at UniCredit July 22, 2019 Fears of a severe job cull at UniCredit emerged this evening, rocking Europe’s banking sector just weeks after rival Deutsche Bank swung the axe on its own staffing operations. Italy’s largest bank is understood to be weighing up a move to slash 10,000 jobs as part of a new cost-cutting strategy. Read more: Metro Bank [...]
Jo Swinson elected leader of the Liberal Democrats July 22, 2019 Jo Swinson has become the first female leader of the Lib Dems after beating rival Sir Ed Davey in a vote of party members. Swinson received about 47,900 votes compared with just over 28,000 votes for former energy secretary Davey on a 72 per cent turnout. Swinson said she was “over the moon” to be [...]
Jo Swinson is the new Lib Dem leader – now where will she take her party? July 22, 2019 The votes have been counted, the outcome announced, and a new leader has taken the reins – not of the Conservative party, whose results we will know tomorrow, but of the Liberal Democrats. After a race which was almost entirely overshadowed by the Tories, Jo Swinson has been named the successor to Sir Vince Cable. [...]
Holidaymakers face ‘perfect storm’ this summer as British Airways pilots vote in favour of strike action July 22, 2019 British Airways pilots have voted strongly in favour of industrial action in a dispute with the airline over pay. Ninety-three per cent of those balloted voted in favour of strike action, on a turnout of 90 per cent. Brian Strutton, general secretary of the British Airline Pilots’ Association, said: “This strong result demonstrates the resolve [...]
Struggling Metro Bank drafts in two senior directors July 22, 2019 Under-fire lender Metro Bank has drafted in two new senior executives as the firm looks to revamp its reputation after a turbulent six months. The high street bank said this afternoon that it has appointed a new chief information officer and chief transformation officer following a major accountancy error that has rocked investor confidence. Read [...]