Tesla short-sellers extend their losses following share price surge February 2, 2020 Investors betting against Tesla suffered losses of $1.5bn in mark-to-market losses after Tesla beat analyst estimates in its fourth quarter results last week. Thursday’s losses bring Tesla shorts down $5.6bn in 2020 in mark-to-market losses, according to data provider S3 Partners. Tesla is the largest short in the domestic market with short interest of $14.28bn. [...]
Coronavirus: China to inject billions into economy amid outbreak February 2, 2020 China will pump 150bn yuan (£16.4bn) into its economy tomorrow to help protect it from the impact of the coronavirus outbreak. China’s central bank said it had taken the decision to maintain liquidity in the banking system and stabilise the currency market. It comes as the country reopens its stock markets after extending its Lunar [...]
TSB recovers from IT meltdown to return a profit January 30, 2020 TSB returned a profit and a healthy balance sheet in 2019 after it stemmed losses from its failed IT migration. The bank reported that profit before tax for the year to 31 December 2019 was £46m, compared to a pre-tax loss of £105.4m in 2018. It said it was “primarily driven by the non-recurring effect [...]
Traders call time on long hours following consultation January 30, 2020 Traders have today called for market trading hours to be reduced by 90 minutes to seven hours. The Association for Financial Markets in Europe (AFME) and the Investment Association (IA) have responded to the London Stock Exchange’s consultation on the issue. They are campaigning for a reduction in hours to either 9am-4pm or 9.30am-4.30pm. AFME [...]
Tulip Tower could still go ahead as appeal process begins January 30, 2020 The developers behind the Tulip Tower have submitted an appeal against Sadiq Khan’s decision to block it. The Tulip Project has submitted a planning appeal against the mayor’s decision to reject planning permission last year. The project is supported by architects Foster & Partners and developer J. Safra Group. A public inquiry will take place [...]
Coronavirus: UK to evacuate 200 Brits from Wuhan at 9pm January 30, 2020 Foreign secretary Dominic Raab has confirmed that a delayed evacuation of UK citizens from Wuhan will be able to leave tonight (UK time). The UK had postponed the evacuation of nearly 200 citizens from coronavirus-ravaged Wuhan because it had not yet been granted the right permissions to leave by authorities. However, a rescheduled evacuation will [...]
Japanese billionaire Yusaku Maezawa calls off girlfriend search January 30, 2020 Japanese tycoon Yusaku Maezawa has cancelled his search for a “life partner” to take to the moon. The billionaire made headlines last September when it was announced that he will be the first private passenger on Elon Musk’s Space X moon flights. A documentary about Maezawa’s search for a girlfriend was due to be streamed [...]
Coronavirus: British Airways suspends flights to mainland China for a month January 30, 2020 Shares in British Airways owner IAG dropped 3.65 per cent after the airline announced it was suspending all flights to mainland China for a month amid the coronavirus outbreak. It follows the airline’s announcement yesterday that it would halt flights for two days because of Foreign Office advice to avoid “all but essential travel”. Direct [...]
SMMT: UK car output falls for third year running January 30, 2020 British car production is down for the third consecutive year as weakened consumer and business confidence put the brakes on the industry. Manufacturing fell 14.2 per cent last year to 1.3m units, according to the Society of Motor Manufacturers and Traders (SMMT), with a 6.7 per cent fall in December. The trade association said output [...]
Law firms lead Stonewall’s top LGBT-inclusive employers January 30, 2020 City law firms are some of this year’s most inclusive employers for the LGBT community, with 15 topping Stonewall’s employers of the year. Legal organisations were the second most inclusive sector, with fifteen firms on the list. Last year’s winners Pinsent Masons topped the private sector employers at fourth place. Mayer Brown and the Solicitors Regulation [...]
