Volvo indefinitely delays IPO plans over uncertainty of trade war and automotive industry September 10, 2018 Volvo Cars has indefinitely delayed plans for a listing in Stockholm due to trade tensions and a down turn in automotive stocks. The Swedish carmaker and its Chinese owner Geely had planned an initial public offering valuing the company between $16bn (£12.4bn) and $30bn. Chief executive, Hakan Samuelsson told Reuters: “We have come to the [...]
888 launches first sports betting site in US as British firms capitalise on legalisation September 10, 2018 Online gaming company 888 has launched its first sports site in the US in a bid to capitalise on the legalisation of sports betting in the country. It follows recent moves by William Hill and Paddy Power Betfair to expand across the pond following a US Supreme Court ruling in May that struck down a [...]
Plastic packaging giant RPC confirms buyout talks and shares soar September 10, 2018 Plastic packaging giant RPC has confirmed talks with private equity firms over a potential takeover, sending its shares soaring by more than 20 per cent. The company's board said this morning that “preliminary discussions” were being held with Apollo Global and Bain Capital over a possible takeover and said they had until 8 October to [...]
Shares in Apple’s Asian suppliers tumble after Trump calls for iPhone to be made in the US September 10, 2018 Shares in Apple's Asian suppliers have slumped this morning after Donald Trump suggested the iPhone maker should move its production to the US to avoid proposed tariffs on Chinese products. Suppliers in China, Hong Kong and Taiwan have seen their shares tumbles after the US President offered the tech giant a tax incentive to produce in America. [...]
Barack Obama launches scathing attack on Donald Trump and urges voters to stop his ‘abuses of power’ September 8, 2018 Barack Obama has launched a scathing attack on his successor Donald Trump and urged Democrats to vote in November's elections to stop his “abuses of power”. The former US President said Americans were living in dangerous times and said Republicans were dividing the country and threatening democracy. His speech last night at the University of [...]
Jack Ma to unveil succession plan after reports he will retire from Alibaba September 8, 2018 One of China's richest men Jack Ma will unveil a succession strategy on Monday following reports he is preparing to retire from internet giant Alibaba. Ma, who co-founded the Chinese tech behemoth in 1999, told the New York Times he planned to retire and focus on philanthropy in education. The e-commerce empire, with a market [...]
Aston Martin set to hire experienced businesswoman Penny Hughes to lead £5bn float September 8, 2018 Former Coca-Cola executive and RBS director Penny Hughes has been lined up by Aston Martin to lead its £5bn float on the London Stock Exchange. Hughes, who has also been a director at Vodafone, Wm Morrison and Reuters Group, will become the first female chair of a British car maker, according to Sky News. The [...]
US sends messages to Iran ‘every day’ in bid to open negotiations September 8, 2018 The United States sends Iran messages “every day” in a bid to begin new negotiations, Iranian President Hassan Rouhani has said. Donald Trump withdrew the US from a nuclear deal with Iran in May and reimposed sanctions on the country, with sanctions targeting its oil sector set to come into force in November. Read more: [...]
European Investment Bank considering capital increase to plug €3.5bn gap post-Brexit September 8, 2018 The European Investment Bank will consider a capital increase to allow EU nations to increase their stake after Britain pulls out of bank in March. Britain – the biggest EIB shareholder – leaving the EU would mean the bank losing €3.5bn (£3.1bn) of capital. Other existing shareholders will increase their stake proportionally to make up [...]
New powers that could see cold call firms fined up to £500,000 come into force September 8, 2018 Companies cold-calling customers without their consent could be fined £500,000 from today as new measures come into force. Previously consumers had to opt-out of receiving calls by registering with the free Telephone Preference Service or withdraw their consent during the call. But the new powers will put the onus on the callers to make sure [...]
