Indivior boosts profits but warns of US market uncertainty for key drugs February 14, 2019 Ftse-250 pharmaceuticals company Indivior said today its operating profit increased 51 per cent to $292m (£228m) in 2018. The company said revenue fell eight per cent to $1.005bn, however it said this lower revenue was partially offset by a reduction in operating costs. Indivior did not give financial forecasts for the 2019 financial year due [...]
US considers 60-day extension to looming China tariff deadline February 14, 2019 US President Donald Trump is mulling a 60- day extension of the 1 March deadline for higher tariffs on Chinese imports, according to reports. Trump is considering an extension to the 1 March deadline for more than doubling tariffs on $200bn (£156bn) of Chinese exports in order to give the two sides more time to come to [...]
The EU should offer the UK Brexit concessions to protect its economy, German think tank says February 13, 2019 The EU should offer the UK concessions in the Brexit negotiations to avoid damaging its economy, a German think tank said. Gabriel Felbermayr, head of the IFO Institute, said “businesses are suffering already”. He said German exports to the UK had fallen about 10 per cent in real terms since the 2016 referendum and predicted [...]
Intercontinental Hotel Group buys luxury brand Six Senses in $300m deal February 13, 2019 Intercontinental Hotel Group said today it has agreed a $300m (£233m) deal to buy Six Senses Hotels Resorts Spas. The Holiday Inn-owner said it had bought the luxury chain from Pegasus Capital Advisors giving it access to properties in locations such as the Seychelles, the Maldives, Thailand, Oman and Portugal. Six Senses manages 16 hotels and resorts, [...]
Shore Capital snaps up Stockdale Securities to create City’s fourth-largest corporate broking firm February 13, 2019 Shore Capital said today that it had bought Stockdale Securities in a deal to create London’s fourth-largest corporate broking firm by number of main market and Aim-quoted clients. It paid close to book value of £4.9m with additional deferred consideration of up to £4m, subject to performance. Read more: City broker Shore Capital closes in [...]
Ofgem considers action against supplier URE Energy for failing to make renewables payments February 13, 2019 Energy regulator Ofgem is consulting on issuing URE Energy with a final order for being in breach of the Renewables Obligation Order 2015. Read more: Eon front of the queue as energy suppliers eye price rises According to Ofgem, URE Energy failed to meet its renewables obligation by not paying into the buy-out fund by [...]
Law helping businesses receive insurance payouts after terror attacks passed February 12, 2019 Companies will be able to more easily buy insurance for business interruption in the case of terrorist attacks following the passing of a new law today. The passing of the Counter Terrorism and Border Security Act 2019, which received Royal Assent today, followed an outcry in the aftermath of the London Bridge attacks where businesses [...]
Venezuela’s Nicolas Maduro calls for gold held in Bank of England to be returned February 12, 2019 Venezuela’s embattled President Nicolas Maduro said yesterday that the Bank of England should repatriate the Venezuelan gold it holds in its vaults. “They have sequestered billions of dollars in gold in London that are ours – that is money to buy supplies, raw materials, food, medicines. They have sequestered $1.4bn [£1.09bn] for many months, that we [...]
Theresa May to tell MPs to hold their nerve over Brexit February 12, 2019 Prime Minister Theresa May is expected to tell MPs today to hold their nerve in the UK’s game of brinksmanship with the EU over Brexit. May is due to make a statement to MPs at 12.30pm ahead of a debate on Thursday on the next steps for Brexit. “We now all need to hold our nerve,” [...]
Breakdown group AA boosts full-year profit expectations February 12, 2019 Breakdown cover group AA today raised expectations for its full-year profit after retaining or extending its key business contracts. In a trading update AA said it expects its earnings before interest, tax, depreciation and amortisation (Ebitda) would be not less than £340m, having previously said it expected profit to be in the range of £335m [...]