Tesla hit with SEC subpoena over Model 3 production targets November 2, 2018 Tesla has received a subpoena from US regulators over company production estimates, the firm revealed today. The US Securities and Exchange Commission (SEC) is looking into claims that the electric carmarker has made over production of its Model 3 sedans last year. Department of Justice prosecutors have also asked for the company to provide [...]
Bank of England: A British scientist will feature on the next £50 note November 2, 2018 The Bank of England told the public to “think science” when nominating new faces for the £50 note this morning. Figures such as Stephen Hawking and Dorothy Hodgkin are among the early frontrunners in the race to be on the new plastic note, which comes as part of a six-week process where the public can [...]
Markets rally as Trump claims US and China are discussing possible trade agreement November 2, 2018 Markets moved upwards this morning on hopes the US’s trade war with China might be easing. The Stoxx Europe 600 – which tracks Europe’s biggest firms including the FTSE 100 – rose by one per cent while Asian stocks rallied. Hong Kong's Hang Seng Index grew by over four per cent and China's Shanghai Composite [...]
Editor’s Notes: Business chiefs can do great things in politics, but what about the pay cut? November 2, 2018 Foreign secretary Jeremy Hunt has raised the prospect of senior business figures giving up the boardroom and joining the Foreign Office in the service of their country. When I asked a former senior diplomat, with an alphabet of letters after his name, what he made of this proposal he slapped his hands on his head [...]
Mark Kleinman: Financial Reporting Council must offer clarity on Haddrill’s future November 2, 2018 The 900 UK partners at PwC were unable to deduce much from a voicemail left for them this week by their boss, Kevin Ellis, about its plans for the future of the UK audit market. His message was “very top-level”, according to one person who heard it: the details of its blueprint, submitted to the [...]
Trump ramps up the pressure on Venezuela with fresh sanctions November 1, 2018 US President Donald Trump today turned up the heat on Venezuelan leader Nicolas Maduro, signing an executive order to place new sanctions that will affect the country’s gold exports. The order bans anyone in the US from engaging with people or businesses involved in “corrupt or deceptive” Venezuelan gold sales, which Trump believes had been used [...]
Barclays appoints former Rothschild veteran Nigel Higgins as next chairman November 1, 2018 Barclays has confirmed that Rothschild deputy chairman Nigel Higgins has been lined up as the replacement to current group chairman John McFarlane, following a six month search process. The switch-over, which was revealed by Sky News earlier this evening, is scheduled to take place after the bank's annual general meeting in May 2019. However Higgins [...]
Extend post-Brexit transition period, powerful EU business group tells Theresa May November 1, 2018 Bosses of some of Europe’s biggest companies have urged Theresa May to extend the post-Brexit transition period after a meeting in Downing Street. Members of the European Round Table of Industrialists were given an update on the talks with Brussels by the PM on Thursday – claiming she was confident a deal could soon be [...]
Theresa May continues to woo business groups with new forum to hear industry concerns November 1, 2018 Theresa May’s attempts to woo the business world has gone up another notch with the creation of a special forum for boardroom leaders and government ministers. The new initiative will see bosses from companies including Rolls-Royce Holdings, BT Group and ITV meet with the Prime Minister and senior cabinet figures twice a year to discuss key [...]
Government performs u-turn on post-Brexit immigration plans November 1, 2018 Home Secretary Sajid Javid has slapped down his immigration minister for suggesting companies would have to check when an EU migrant came to the UK before giving them a job after Brexit. Caroline Nokes made the claim during an appearance before MPs on Wednesday, saying employers would need to carry out “rigorous checks” to discover [...]