Property events moved away from Brunei-owned hotels amid boycott April 4, 2019 Two calendar property events that were set to be held at hotels owned by the Sultan of Brunei were pulled yesterday amid a boycotting campaign over gay rights. A collection of iconic hotels owned by the Sultan of Brunei have faced a public boycott in protest of Brunei’s strict new Sharia laws that include stoning gay [...]
European investment banking fees plunge in bleak first quarter as M&A hits six-year low April 4, 2019 European investment banking fees have plunged 25 per cent to $4.9bn (£3.75bn) as the first quarter of the year looks set to be even bleaker than originally feared. The value of M&A deal involving any European companies also fell 64 per cent to $183m the lowest in six years, according to a review from Refinitiv. Read [...]
Ethiopia urges Boeing to review controls after findings show pilots not at fault in fatal crash April 4, 2019 Ethiopia has urged Boeing to review its flight control technology after a preliminary report found that the pilot flying the doomed flight was not at fault when the plane crashed. Ethiopian investigators found that pilots on the Boeing 737 Max flight, which crashed and killed all 157 on board, followed all correct procedures but were [...]
Tesla shares fall after Elon Musk’s company confirms huge quarterly drop in car deliveries April 4, 2019 Tesla shares fell nearly nine per cent in early US trading this afternoon, after the electric car giant said its deliveries have suffered a record 31 per cent quarterly drop. The manufacturer’s stock value fell to $266.32 this afternoon, having closed yesterday at $291.81 as investors digested the results. Read more: Elon Musk helps Sheryl [...]
House of Commons sitting suspended due to water leak April 4, 2019 A leaking roof has forced House of Commons sitting to be suspended. The Commons is set to be closed for the rest of Thursday, although the House of Lords will remain open to debate the latest Brexit developments. A cafe located two floors above the press gallery section of the Commons is also closed due [...]
Competition watchdog mulls probe into Visa’s £247m takeover of Earthport April 4, 2019 The competition watchdog is mulling an investigation into Visa’s proposed £247m takeover of UK payments firm Earthport. Visa outbid Mastercard earlier this year in an intense battle for the global payment network. The Competition and Markets Authority (CMA) said today it was considering whether the deal would “substantially lessen” competition in the UK market. The watchdog [...]
Brexit uncertainty has cost the UK economy £66bn, says S&P April 4, 2019 Brexit has cost the UK economy £66bn in lost growth, according to ratings agency S&P. Had the UK voted to remain in the EU in 2016s referendum the economy would have been three per cent larger by the end of 2018, the group’s report said. Read more: Brexit delay wins MPs' support by a margin [...]
Conde Nast names media veteran Roger Lynch as new global chief executive April 4, 2019 Publishing giant Conde Nast has named Roger Lynch as its first global chief executive as the company merges its US and international operations. Lynch, the former boss of US streaming service Pandora Radio, will also join the firm’s board when he assumes the role on 22 April. Read more: Vogue publisher Conde Nast's accounts reveal [...]
HSBC Global Asset Management hunts for new chief executive April 4, 2019 HSBC is searching for a new chief executive for the bank’s $444bn asset management arm as it attempts to turn the division into an industry leader. The bank has appointed headhunters to search for a replacement for current HSBC Global Asset Management chief executive Sridhar Chandrasekharan, Sky News reported. Read more: HSBC boss John Flint [...]
Self-driving cars could inject £62bn into UK economy by 2030 if Brexit is a success, says trade body April 4, 2019 Self-driving cars could provide Britain's economy with a £62bn boost by 2030, but only if the UK agrees a favourable Brexit deal, a report by a leading trade body has found. The report, produced by the Society of Motor Manufacturers and Traders (SMMT), says the UK is the world's number one location for connected and [...]