Trio of ex-Barclays bankers convicted of Libor rigging due to face confiscation hearing tomorrow February 8, 2017 Three ex-Barclays bankers previously found guilty of Libor-rigging offences are scheduled for confiscation hearings in a London court tomorrow. Jonathan Mathew, Jay Merchant and Alex Pabon were convicted and handed jail sentences last summer in the third case brought to court as part of the Serious Fraud Office's ongoing Libor investigation. Former submitter Mathew is currently serving a [...]
Why Monte dei Paschi shares might get kicked from the blue-chip index tomorrow February 8, 2017 Monte dei Paschi di Siena's management board need to decide tomorrow whether it is going to reinstate its shares in the near future, or risk being kicked from Milan's blue-chip index. Shares in the troubled Italian lender have been suspended for trading since last December, when a private sector rescue plan, designed to pump €5bn (£4.3bn) into the [...]
Weak pound delivers earnings boost for GSK February 8, 2017 GlaxoSmithKline (GSK) has reported core profits of £7.8bn on full year revenues of £27.9bn in 2016, a rise of six per cent and 14 per cent respectively year-on-year. In the three months to December, GSK saw sales increase by 21 per cent to £7.59bn, beating analysts' expectations. The reported core earnings per share were 102.4p [...]
Retailers look further afield to tackle lettuce crisis after vegetable shortage hits supermarkets February 8, 2017 The lettuce crisis (yes it has really been called that) has taken hold to such an extent that retailers are frantically searching for other options. The UK relies on a range of growers across southern Europe for its veg stocks in the winter, but some extreme weather has meant extremely bare supermarket shelves after the harvest [...]
Boeing pens letter to MPs to hit back at Airbus claims it would relish Brexit fallout February 8, 2017 Boeing has hit back at warnings raised by Airbus over the potential negative impact of Brexit to its business, and its American rival being keen to take advantage. Airbus' chief operating officer Tom Williams had given evidence to the Treasury Select Committee last month, saying it would be "pretty scary" if Airbus wasn't able to operate a [...]
Queensbury station closed as police investigate stabbing on Tube platform February 8, 2017 Queensbury Tube station in north west London is closed this afternoon as police investigate an assault that took place earlier today. https://twitter.com/jubileeline/status/829323487911243776 A fight took place on a Jubilee line platform in the station at around 12.50pm, and one man was stabbed during the altercation, according to British Transport Police (BTP). The BTP said the [...]
Lawsuit gets turned up to 11 as Spinal Tap back together to sue Vivendi for $400m February 8, 2017 The band's back together: Members of mock rock group Spinal Tap have reunited to sue Vivendi. Christopher Guest, Michael McKean and Rob Reiner have joined a legal action brought by Harry Shearer, claiming the French media giant has failed to properly share profits since it bought the rights to the 1984 cult film This Is Spinal Tap. [...]
Shell has submitted plans to dismantle its Brent North Sea platforms February 8, 2017 Royal Dutch Shell today submitted plans to dismantle its Brent North Sea production platforms to the British government, marking a turning point for the UK oil industry. Shell's Brent field, which is one of the largest fields in the North Sea, has produced around 3bn barrels of oil equivalent since work began in 1976. That's almost 10 per cent [...]
Locals lose out as Severn Trent’s Dee Valley Water takeover gets the go-ahead from the High Court February 8, 2017 Locals' attempts to thwart the takeover of a Welsh water company have failed after Severn Trent's bid to pick up Dee Valley Water has been given the go-ahead in the High Court. The court decided the £84m deal by the FTSE 100 firm, initially agreed on back in November, could go ahead. However, it adjourned until 10 [...]
What do we know about Aramco’s boutique adviser? February 8, 2017 The world’s largest IPO in recent times is expected to take place next year, as the Saudi state oil firm known as Saudi Aramco is floated with an anticipated value of around $2 trillion. New-York based investment bank, Moelis & Co. has been reported as the sole independent adviser on the IPO, representing by far [...]