African miner hires former BHP and British Airways board member ahead of float October 16, 2018 South African phospate miner Kropz will go public by the end of the month and has appointed former BHP board member and JP Morgan exec Lord Renwick as chairman. Kropz announced yesterday it would list on the London Stock Exchange's Alternative Investment Market (AIM) by the end of October. The plant nutrient producer hoped its IPO [...]
HSBC, Credit Suisse and Standard Chartered join boycott of Saudi conference over missing journalist October 16, 2018 The chief executives of HSBC, Credit Suisse and Standard Chartered have become the latest business leaders to withdraw from a high profile Saudi investor conference next week. The banking trio have joined a plethora of influential figures and businesses to pull out of the three-day event following the disappearance of journalist Jamal Khashoggi. The US [...]
Half of trains delayed or cancelled: London’s worst train station revealed October 16, 2018 Clapham Junction has been revealed as the worst train station in London with more than half of all trains running late or being cancelled so far this year. Research conducted by Which? found that South Western, with 60 per cent of trains late or cancelled, and Southern, 58 per cent, were the worst rail operators [...]
Volvo shares slump after warning some vehicle engines may exceed emissions limits October 16, 2018 Volvo shares have slumped after the company warned some of its vehicle engines could be exceeding emissions limits due to a faulty component. The Swedish truck maker said the overall cost of the problem “could be material”. It said an emissions control component was degrading more quickly than expected reducing its ability to convert nitrogen [...]
BHP Billiton to nearly double stake in Ecuador copper project October 16, 2018 Global miner BHP Billiton has agreed to almost double its stake in the Cascabel copper-gold project in Ecuador. The world's largest miner has increased its stake in SolGold, the project's majority owner and operator, from six per cent to 11.2 per cent. BHP, which only bought into the project six weeks ago with the 6 [...]
Finance chiefs desert Saudi business summit as backlash to missing journalist intensifies October 16, 2018 The global boycott of a high-profile Saudi investor conference gathered pace yesterday as the bosses of JP Morgan, Ford, Blackstone and BlackRock led an executive exodus following the disappearance of journalist Jamal Khashoggi. The US resident and critic of the Saudi government has not been seen since entering the Saudi consulate in Istanbul on 2 October. [...]
Fracking begins in the UK for the first time in seven years amid protests October 15, 2018 Fracking has begun in the UK for the first time since 2011 when it was halted after being linked with earth tremors. British shale gas company Cuadrilla confirmed today that it has started hydraulic fracturing operations at its exploration site in Lancashire The road leading to the site was closed for most of the day [...]
JP Morgan boss Jamie Dimon latest to pull out of Saudi investor conference October 15, 2018 JP Morgan boss Jamie Dimon and Ford chairman Bill Ford have pulled out of a Saudi investor conference as political tensions surrounding missing journalist Jamal Khashoggi rumble on. US President Donald Trump said he would immediately send his Secretary of State Mike Pompeo to meet the Saudi King Salman, after the Kingdom denied any knowledgeof Khashoggi's [...]
Bank of England: Insurers and banks must manage the financial risks of climate change October 15, 2018 The Bank of England has urged banks and insurers to improve its mitigation of the financial risks of climate change. Financial institutions will also be asked to disclose how it will manage those risks as well as explore potential scenarios for the future in new measures put forward today. The BoE’s Prudential Regulation Authority (PRA) [...]
UK Finance makes £15m loss following merger of six trade groups October 14, 2018 UK Finance made a £15m loss following a merger of six financial services trade groups, its accounts revealed. The trade association, which represents nearly 300 firms in the banking and financial services sector, received a membership income of £13.7m – and total income of £17.2m – but suffered the loss due to the costs of the [...]
