Brexit case: European Court says Article 50 can be reversed December 4, 2018 The Court of Justice of the European Union (CJEU) said today that Article 50 could be reversed, halting the UK's exit from the European Union. Spanish judge, advocate general Campos Sanchez-Bordona, said in his non-binding opinion that reversing Article 50 would be within the powers of the UK as a sovereign state. He said: “Withdrawal from [...]
Spreadbetter IG says revenue has fallen since new European regulations introduced December 4, 2018 Spreadbetter IG Group said today it expects revenue in the first half of the year to be six per cent lower than in the same period last year following the introduction of new European regulations that have hit the sector hard. In July the European Securities and Markets Authority (Esma) introduced rules restricting the provision [...]
Govia Thameslink Railway operator strikes deal with government following rail chaos December 4, 2018 Go Ahead Group has struck a deal with the Department for Transport to allow it to hang on to the troubled Govia Thameslink Railway franchise. Go Ahead has agreed to introduce a profit sharing mechanism with the DfT for the remainder of the franchise which runs until 2021. As a result, the margin over the [...]
Marlboro-maker Altria is in talks to invest in Canadian cannabis producer Cronos December 4, 2018 The company behind Marlboro cigarettes is in talks to invest in a Canadian cannabis producer as it looks to cash in on the recent legalisation of the drug in Canada. Altria is one of the world’s largest tobacco companies and the owner of the Marlboro brand. Cannabis producer Cronos confirmed the talks after reports that [...]
Regulator the Financial Conduct Authority warns banks about moving business away from the UK because of Brexit December 3, 2018 Regulator the Financial Conduct Authority has written to banks warning them about moving business away from the UK because of Brexit. Banks have been opening European subsidiaries and moving staff to locations that will remain inside the EU post-Brexit such as Amsterdam, Frankfurt and Dublin to ensure they are able to service customers after the UK [...]
Six-bedroom Mayfair mansion snapped up for £39m December 3, 2018 A Grade-II listed mansion in Mayfair has been bought for £39m. According to documents filed with the land registry it was acquired by a British Virgin Islands-registered company for £38.8m at the start of November. Fees and stamp duty mean the total cost of the house will be closer to £45m. The six-bedroom house has a [...]
Global markets rally on improved US-China trade relations December 3, 2018 Markets worldwide rallied this morning on the news that China and the US had pulled back from the brink in their escalating trade war. The FTSE 100 was up 145 points on 7,125, the FTSE 250 up 250 points to 18,730 and the FTSE all-share was up 73 points on 3,896. Among the biggest risers [...]
McColl’s shares plunge on profit warning December 3, 2018 Convenience store chain McColl’s today cut its profit forecast for the year, sending its shares tumbling more than 20 per cent. McColl’s cut its adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) for the 2018 financial year to £35m, down from a previous estimate of £44m. The business blamed the profit cut on disruption [...]
Southend Airport-owner Stobart Group cuts its fourth-quarter dividend December 3, 2018 Stobart Group has today said it plans to cut its fourth-quarter dividend to focus on future investments. The Southend Airport-owner said it had examined the dividend as part of an ongoing capital review and had decided to cut it to 1.5p per share. This means that total dividend paid in the financial year will be 15p [...]
Private equity giant Bain Capital drops out of race to buy FTSE 250 plastic-maker RPC December 3, 2018 US private equity giant Bain Capital has dropped out of the race to buy FTSE 250-listed plastic maker RPC. RPC said this morning that the pair had “mutually agreed to terminate discussions”. Discussions with Apollo Global Management “remain ongoing”, RPC said this morning. RPC's share price fell 4.1 per cent to 687p this morning. According to takeover [...]
