Labour might ban London-listed companies from stock exchange over climate change targets May 10, 2019 London-listed companies could be thrown off the stock exchange for not doing enough on climate change under new plans which are being drawn up by Britain’s Labour party, it was revealed today. Shadow chancellor John McDonnell said today his party would delist companies which do not have plans to combat climate change. Read more: Britain [...]
US investment firm Fidelity cuts Metro Bank stake by almost a third May 10, 2019 One of Metro Bank's biggest investors has cut its shares in the lender by just under a third ahead of a £350m rights issue. Read more: Metro Bank shares plunge to all-time lows as hedge funds circle Fidelity Management and Research (FMR) held a 7.55 per cent stake in the challenger bank, but has cut that [...]
Inmarsat shareholders approve $3.4bn private equity takeover deal May 10, 2019 Inmarsat’s shareholders approved a $3.4bn (£2.58bn) private equity takeover today despite 21 per cent of investors attempting to vote down the deal. Read more: Inmarsat profit falls ahead of $3.4bn takeover The takeover of the British satellite operator is the second largest public-to-private deal ever in the UK, bringing an end to talks that began [...]
Uber shares debut on New York Stock Exchange in $82.4bn IPO May 10, 2019 Shares in ride-hailing giant Uber began trading on the New York Stock Exchange today, after the firm priced its stock at the lower end of its target range. Uber priced its initial public offering (IPO) at $45 per share after setting a range of between $44 and $50. Read more: Uber's float is a huge [...]
Chinese retail giant JD.com hits record quarterly profits to beat expectations May 10, 2019 Chinese e-commerce behemoth JD.com exceeded estimates for its first quarter earnings this year, up 20.9 per cent on the same period in 2018 with record-breaking quarterly profits. The tech giant recently cut staff and wages in a bid to increase profitability and saw revenue grow to Rmb121bn (£13.8bn) for the quarter up until 31 March 2019. [...]
Poll: Economists split over Halloween Brexit date May 10, 2019 Economists are divided over whether the UK will leave the EU before the new deadline of 31 October, according to a new poll commissioned by Reuters. Read more: UK economy bounces back, but is growth just a ‘flash in the pan’? While the vast majority of economists polled believed the UK will eventually leave the [...]
Thyssenkrupp warns 6,000 jobs could go after regulator scuppers European steel merger May 10, 2019 Thyssenkrupp today admitted defeat in its proposed Tata Steel merger, but sent shares higher as it revealed plans to spin off its elevator business. Read more: Thyssenkrupp shares soar as it abandons plans to split company Shares surged even further on the admission that the EU looks set to block the deal, after rising in [...]
Ofgem threatens to revoke energy supplier Solarplicity’s licence over missing payments to small-scale generators May 10, 2019 Ofgem has said it could revoke energy supplier Solarplicity’s license for the second time in a month, raising further questions about the future of the company. The regulator today issued a provisional order against Solarplicity, requiring it to pay money to small-scale producers of renewable energy. Read more: Energy supplier Solarplicity faces extended new customer [...]
Shut it, Siri: Most of us are really rude to our smart speakers May 10, 2019 The majority of people using smart speakers in the UK are rude to the devices designed to help them, a new study has revealed. The virtual assistants can relay information about the weather, latest news, traffic and a lot more, and are now used by 11 per cent of Britons – and counting. Read more: Jeff [...]
Mr Congeniality: Trump says $200bn China tariffs are better than a ‘phenomenal’ trade deal May 10, 2019 US President Donald Trump has issued an impassioned defence of his tariff hike on $200bn worth of Chinese goods, saying they will bring in more wealth than “even a phenomenal” trade deal. Read more: China threatens retaliation as Trump rolls out $200bn tariff hike In a series of tweets, Trump said talks with China were [...]