Diversified Gas and Oil says it will target high dividends from strong cash flows after its float tomorrow February 2, 2017 Tomorrow the London Stock Exchange's junior flotation market will welcome its largest initial public offering (IPO) from an oil and gas firm since oil prices tanked in 2014 – and the company says it sees potential for "substantial" growth. US-based Diversified Gas & Oil is gearing up for its floatation on the Alternative Investment Market (Aim), which chief [...]
Six people, including two HBOS bankers, jailed for more than 47 years between them February 2, 2017 Two former HBOS bankers are among six people who have today been jailed for almost 50 years between them for a scheme which ran businesses into the ground for their own personal gain, generating losses of around £250m for the now collapsed bank. Lynden Scourfield, 54, once head of the HBOS department responsible for businesses in financial [...]
GVC shares jump after final quarter bonanza and debt savings February 2, 2017 Shares in online gambling firm GVC leapt nearly six per cent today after the firm revealed a jackpot fourth quarter that beat market expectations. Net gaming revenue (NGR), gross bets less associated payouts, jumped by nine per cent to €231m (£199m) in the final three months of the year. Read more: GVC shares jump after betting [...]
Why an “imminent” Robin Hood tax is the latest nail in the EU’s coffin February 2, 2017 It is easy to be sceptical when any European Commissioner comes out and says something is imminent – particularly when you consider the ponderous and remote nature of the various institutions that make up the EU. But with Britain no longer having a say, last week’s comments from Commissioner Pierre Moscovici about a financial transaction [...]
Coutts & Co told to pay £5m by Swiss watchdog for anti-money laundering failures in dealings with 1MDB February 2, 2017 Coutts & Co has today been ordered to pay CHF 6.5m (£5.2m) by Swiss watchdog Financial Market Supervisory Authority (Finma) over anti-money laundering failings in its dealings with scandal-hit Malaysian 1MDB. The watchdog, which launched enforcement proceedings last year, claims the private bank "failed to adequately clarify the circumstances surrounding a number of business relationships and unusually large, high-risk transactions". [...]
German prosecutors searched office and home of Deutsche Boerse chief in insider trading probe February 2, 2017 Prosecutors in Germany have searched the home and office of Deutsche Boerse’s chief executive as part of its probe into alleged insider trading, it emerged today. The Public Prosecutor’s Office of Frankfurt is investigating a €4.5m (£3.8m) share purchase by Carsten Kengeter in December 2015, shortly before Deutsche Boerse agreed to the terms of a [...]
No more misery? Southern rail deal announced between the train operator and union Aslef February 2, 2017 A deal has been agreed in the long-running dispute between Southern rail and train drivers' union Aslef, in the wake of fresh talks. It is expected to bring the row over the so-called driver-only operated trains to a close, subject to a referendum of Aslef members. The ballot of Aslef drivers on whether to accept the deal [...]
Estee Lauder’s share price climbs as it grows sales February 2, 2017 Beauty group Estee Lauder Companies' share price climbed four per cent as it reported strong sales in its second quarter results. The figures The company – which owns brands such as MAC, Clinique and Bobbi Brown – reported net sales of $3.21bn (£2.56bn) for the quarter ending 31 December, up three per cent as compared to the [...]
Severe delays on Bakerloo and District lines after fire alert at Edgware Road February 2, 2017 There are severe delays on the Bakerloo and District lines this afternoon, following a fire alert in the Edgware Road area. There is no service between Piccadilly Circus and Queen's Park on the Bakerloo line at the moment. Meanwhile, on the District line there are severe delays between High Street Kensington and Edgware Road. Transport [...]