EY has banked over $500m from the Nortel bankruptcy as legal fees continue to balloon April 6, 2016 NULL
Tata will start a formal sales process by Monday for its UK business after Javid hails “constructive and positive meeting” in Mumbai April 6, 2016 Indian steel giant Tata will kick off the formal sales process of the its UK business on Monday its been announced by business secretary Sajid Javid following emergency talks in India. Javid hailed the meeting as "constructive and positive". He yesterday held meetings with steel unions and the only party that's publicly expressed interest in Tata's Port Talbot steelworks, Liberty [...]
Oil price yo-yos back up as the latest US stockpiles show a surprise fall April 6, 2016 The oil price has bounced today after stockpiles in the US showed a shock decline, despite investors expecting a new record high. The oil price is up today by around five per cent, with international benchmark Brent crude trading at $39.77, while US oil hit $37.96. The US Energy Information Administration (EIA) reported that stocks of [...]
A drop in footfall means RBS, HSBC, and Barclays could all be about to close more branches around the country April 6, 2016 A continuing slide in the number of people using bank branches means three of Britain's biggest banks could be considering closing the doors on hundreds between them this year. RBS, HSBC, and Barclays have all said they are reviewing the number of branches they operate but were unable to comment on specific numbers. It was earlier reported by [...]
Huawei has thrown itself full tilt into the global consumer phone market with its P9 and P9 Plus, featuring Leica lenses April 6, 2016 Chinese telecoms group Huawei has unveiled its latest handset, meant be its flagship device in a push into the European market currently dominated by Samsung and Apple. Huawei has has teamed up with German camera maker Leica for its new P9 model that uses duel lenses, a feature though to be included in Apple's upcoming iPhone 7. [...]
Losses at Tata Steel UK are supposedly less than £1m per day according to Labour MP Stephen Kinnock April 6, 2016 Losses at Tata Steel's UK business are supposedly half the £1m that has been reported since the India steel conglomerate announced it would put the business up for sale. Speaking on the BBC Today programme Stephen Kinnock, Labour MP for Aberavon, home to Tata’s Port Talbot plant, said: We need to start challenging that figure. It was something that [...]
Moneycorp warns over uncertain year ahead as Brexit fears bite April 6, 2016 Moneycorp, the foreign exchange firm recently granted a banking licence in Gibraltar, has warned the outlook for 2016 is uncertain due to doubts surrounding a potential British exit from the European Union. A so-called Brexit could cause extreme currency volatility that firms are finding difficult to prepare for. Yesterday it was revealed Britain’s foreign currency reserves reached a [...]
Cummings leaves TheCityUK for Investment Association top job April 5, 2016 The Investment Association (IA), which represents managers who handle upwards of £5.5 trillion, has recruited TheCityUK boss Chris Cummings as its new chief executive, following a six month search. Cummings will fill the void left by the departure of former IA chief Daniel Godfrey, who stepped down after a row with the groups members. “I [...]
Javid to fly to India to meet with Tata chiefs, after back-to-back talks with unions and a potential buyer April 5, 2016 Business secretary Sajid Javid will meet with executives of Port Talbot steelworks owner Tata at their Mumbai headquarters tomorrow. The meetings will be the latest in a chain of talks for Javid, who earlier met with the potential buyer of Port Talbot, Liberty House chief executive Sanjeev Gupta. He is expected to urge Tata bosses [...]
