Going, going, Ghosn: Ex-Nissan boss flees Japanese justice system to Lebanon December 31, 2019 Carlos Ghosn has fled what he described as “injustice and political persecution” in Japan to Lebanon, months before the ousted Nissan boss was due to stand trial over alleged financial misconduct. Ghosn’s abrupt departure from Japan for his native Lebanon, in breach of his strict bail conditions, marks the latest dramatic twist in a saga [...]
UK stocks 2020: Which shares are City A.M. staff backing in the new year? December 30, 2019 The UK stock market looks set to end the year on a high after the Tories’ election win and progress in US-China trade talks alleviated the uncertainty that has weighed on markets for months. But the road ahead is far from clear, with the looming Brexit date of 31st January and various upcoming trade negotiations [...]
US diplomat’s wife Anne Sacoolas charged over the death of Harry Dunn December 20, 2019 Anne Sacoolas has been charged with causing death by dangerous driving over the death of teenage motorcyclist Harry Dunn, who died in a road crash in Northamptonshire in August. Sacoolas, the wife of a US intelligence officer based at the nearby RAF Croughton base, left the country for the US shortly afterwards, claiming diplomatic immunity. [...]
Shell takes $2bn hit amid slowing demand for oil December 20, 2019 Oil giant Royal Dutch Shell has said it expects impairment charges of up to $2.3bn (£1.8bn) in the fourth quarter and has trimmed its output estimates due to a weaker economic outlook. In a trading update issues ahead of its full year results in January, Shell said it expected “materially lower” margins in its refining, [...]
Just Eat board rejects Prosus offer in favour of Takeaway.com merger December 20, 2019 The board of Just Eat has backed a final offer from Takeaway.com and rejected a rival cash bid from Prosus, as the battle for the British fast food giant nears its end. The food fight for Just Eat heated up once again yesterday after both Takeaway and Prosus increased their bids for the company. Read [...]
FCA head Andrew Bailey confirmed as next Bank of England governor December 20, 2019 Andrew Bailey has been named as the new Bank of England (BoE) governor by chancellor Sajid Javid. The Financial Conduct Authority (FCA) boss will be responsible for steering the world’s fifth largest economy through Brexit and a troubled global macroeconomic climate. Read more: Bank of England refers hedge fund eavesdropping to regulator Announcing Bailey’s appointment, [...]
France fines Google €150m over anti-competitive behaviour December 20, 2019 France’s competition authority has fined Google €150m (£123m) for anti-competitive behaviour and mistreating advertisers who bought keyword adverts on its search engine. The search engine giant was accused of “brutal and unjustified” suspension of some advertisers by French authorities, which accused Google of abusing its dominance in the sector. Read more: Amazon, Apple and Google [...]
Bank of England refers hedge fund eavesdropping to regulator December 19, 2019 The Bank of England (BoE) has referred the hacking of its market-sensitive press conferences to the financial watchdog, after it emerged that an audio feed was supplied to high-speed traders moments ahead of the official broadcast. The Bank confirmed what it called a “wholly unacceptable” use of a back-up audio feed by a third-party supplier, [...]
Facebook’s transfer of EU citizen data to US legal, says EU court adviser December 19, 2019 Tools used by hundreds of thousands of companies to transfer EU citizens’ data abroad are legal, an adviser to Europe’s top court has ruled, marking a major win for Facebook in a long-running court case. Austrian privacy campaigner and lawyer Max Schrems had challenged Facebook over its use of standard contractual clauses to move electronic [...]
Goldman Sachs reportedly in talks to admit guilt and pay $2bn to settle 1MDB probe December 19, 2019 Goldman Sachs is in talks with the US government to pay a $2bn (£1.5bn) fine and admit guilt to resolve a criminal investigation into its role in the Malaysian 1MDB corruption scandal, according to the Wall Street Journal. The bank and US officials have discussed a deal under which a Goldman subsidiary in Asia would [...]
