Global equity bloodbath plunges FTSE 100 to six-month low October 11, 2018 A GLOBAL equity bloodbath plunged the FTSE 100 to its lowest level in six months on a “gut-churning” day for investors. The sell-off began in the US on Wednesday before spreading to Europe, Asia, and trading floors across the world on Thursday. Global growth concerns, the prospect of higher US interest rates, as well as [...]
Factors beyond the control of oil producers have caused price surge, Opec boss says October 11, 2018 Factors “beyond the control” of oil producers have led prices to surge, the director general of Opec has said. The cartel's director general Mohammad Barkindo said there were non-fundamental factors influencing the market. Oil prices have surged in recent weeks in anticipation of US sanctions on Iran, which could take two million barrels per day [...]
Mystery woman who spent £16m in Harrods revealed as wife of jailed Azerbaijan banker October 10, 2018 The mystery woman who spent £16m in Harrods and was hit with the UK's first ever 'unexplained wealth order' has been identified as the wife of a jailed Azerbaijan banker. Zamira Hajiyeva lost an appeal last week against a High Court ruling forcing her to reveal how she was able to afford two properties in [...]
Kensington and Chelsea credit union with 1,200 members falls into administration October 10, 2018 A credit union providing banking services for people in Kensington and Chelsea has fallen into administration. K&C Credit Union, trading as Your Credit Union, had around 1,200 members – including some residents of Grenfell Tower and £700,000 worth of investments. The not-for-profit co-operative was launched in 2012 and targeted residents of Britain's richest borough to [...]
Former UBS trader Kweku Adoboli granted bail ahead of deportation judgment October 9, 2018 Former UBS rogue trader Kweku Adoboli has been released and allowed to return home after more than a month in detention, while a judge reviews his deportation. The 38-year-old was initially denied bail in September after being spared deportation by a legal intervention just hours before his scheduled flight to his birth country, Ghana. An [...]
One Hyde Park flat becomes Britain’s most expensive home after £160m sale October 9, 2018 A penthouse apartment in the luxury One Hyde Park development has become Britain's most expensive home after being sold for £160m. The penthouse apartment in the Candy brothers' high-end London block was bought for the record amount in May, Land Registry documents revealed. It was sold to two offshore companies PHB London Holdings Ltd and PHB [...]
YouGov profits soar after shift towards real-time consumer data attracts McDonald’s, Uber and Vodafone October 9, 2018 Pollster YouGov said a shift in focus to real-time data analysis was paying off as its profits climbed 49 per cent. The market research firm reported pre-tax profits of £11.8m in the year to 31 July, up 49 per cent on the previous 12 months. Revenue also climbed nine per cent to £116.6m as its [...]
BHP shareholders advised to oppose chief executive’s ‘excessive’ salary October 9, 2018 BHP Billiton shareholders have been advised to vote against the miner's remuneration report later this month on account of chief executive Andrew Mackenzie's “excessive” salary. Mackenzie was paid $4.657m (£3.55m) last year, a $100,000 pay rise on the previous year, despite missing out on his target pay package after two fatalities at BHP Billiton's mines. [...]
Turkey urges businesses to cut prices to fight soaring inflation October 9, 2018 Turkey has urged businesses to cut prices by at least 10 per cent in a bid to control soaring inflation. Finance Minister Berat Albayrak – President Recep Tayyip Erdogan's son-in-law – launched the initiative on Tuesday as part of a “fully fledged flight” against inflation. The discount will not be compulsory but Albayrak encouraged Turks [...]
Waste disposal firm stripped of NHS contract after body parts scandal October 9, 2018 A company which stockpiled hundreds of tonnes of hospital waste, including human body parts, has been stripped of its NHS contract. Healthcare Environmental Services (HES) is under investigation after allowing mountains of waste, including human body parts and hazardous materials, to pile up at its facilities. Leaked documents revealed excess waste levels at the firm's [...]
