Legal firms call for reform of Serious Fraud Office after ex-Barclays execs acquitted February 28, 2020 Law firms have called for reform of the Serious Fraud Office (SFO) today after three former Barclays executives were cleared of financial crisis-era fraud to save the bank. Roger Jenkins, Thomas Kalaris and Richard Boath were all acquitted of charges of conspiracy to commit fraud by false representation in connection with the 2008 Qatar fundraisings. [...]
US stocks fall for seventh consecutive day as coronavirus fears increase February 28, 2020 US stocks opened down again today for the seventh straight day as investors continued to sell after new cases of coronavirus pummelled global stock markets. The Dow Jones and the S&P 500 both fell 2.5 per cent, to 25,119.36 and 2,904.44 respectively. The Nasdaq fared marginally better, opening 1.9 per cent down at 8,402.67. The [...]
Ex-Barclays bankers cleared of £4bn Qatar financial crisis fraud after SFO probe February 28, 2020 A jury today cleared three former Barclays executives of committing financial crisis-era fraud to save the bank from a bailout. Roger Jenkins, Thomas Kalaris and Richard Boath were all acquitted of charges of conspiracy to commit fraud by false representation in connection with the 2008 Qatar fundraisings. They had all denied the charges, which the [...]
Geneva Motor Show cancelled as coronavirus fears mount February 28, 2020 The Geneva Motor Show has reportedly been cancelled today after the Swiss government banned events of more than 1,000 people in an attempt to curb the spread of the coronavirus outbreak. Sources told Reuters that Palexpo, the organisers of the show, had informed authorities that they had called on the international show due to concerns. [...]
UK braced for 70mph winds and downpours as Storm Jorge makes landfall today February 28, 2020 The UK is braced for yet another weekend of severe weather as Storm Jorge prepares to make its landfall later today. The Met Office has issued rain warnings for parts of Wales and Northern England, saying that parts of the country could see 60-80mm of rainfall in the worst affected areas. London and the south [...]
British Airways owner IAG warns of coronavirus hit to 2020 profit February 28, 2020 British Airways-owner IAG today said that it was “not possible” to give an accurate forecast for its full year profit as the coronavirus outbreak continued to disrupt the airline group’s operations. The firm said the net impact of current cancellations had lowered its capacity across the whole year by two per cent as the airline [...]
Easyjet to cancel Italy flights as coronavirus hits demand February 28, 2020 Budget airline Easyjet today said that it would cancel a number of flights to Italy as it warned of a “significant softening of demand” across its short-haul network as the coronavirus outbreak continued to impact global airlines. The firm said it would continue monitor the situation and adapting its flying program to support demand. Shares [...]
Rolls-Royce falls to £852m loss as engine trouble persists February 28, 2020 FTSE 100-listed Rolls-Royce today reported a loss of £852m after problems with its Trent 1000 engine overshadowed record engine deliveries at the firm. The figures Operating profit rose 25 per cent to £808m, ahead of £616m last year, driven largely by an improvement in the engine maker’s civil aerospace division. Revenue increased seven per cent [...]
Air France to cut 1,500 jobs in attempt to limit coronavirus impact February 27, 2020 Air France will cut 1,500 jobs by the end of 2022, union sources told AFP today, as the airline tries to limit damage from the coronavirus outbreak. Only this morning AFP obtained an internal letter from the company saying that it would introduce a partial hiring freeze in order to cut costs at the airline. [...]
New HS2 minister promises to oversee project with ‘forensic scrutiny’ February 27, 2020 The new minister for HS2 rail has promised to oversee the controversial project with “forensic scrutiny”, saying that the rail link had to regain “the public’s trust”. The project was given the go-ahead by Prime Minister Boris Johnson earlier this month, despite estimations that the cost could run to more than £100bn by the time [...]
