Chair of troubled energy supplier URE Energy blasted by ex-investors April 11, 2019 The chairman of one of Britain's troubled energy challengers has left a string of dissolved businesses and angry investors in his wake. URE Energy, chaired by prolific businessman John Coombs, was ordered by regulator Ofgem to pay a £209,000 fine by 31 March after it failed to make payments required because not enough of the [...]
Chinese state body floats ban on bitcoin mining April 10, 2019 A Chinese government body has proposed a ban on bitcoin mining. The National Development and Reform Commission (NDRC) said on Monday it was asking for public opinions on a list of industries it wants to encourage, restrict or eliminate. Read more: Bitcoin jumps back above $5,000 after hitting yearly high The list included cryptocurrency mining, [...]
Hollywood Bowl boosts revenue in strong first half April 10, 2019 Ten-pin bowling operator Hollywood Bowl said revenue for the first half of the year was up more than five per cent. It said total revenue growth was 5.3 per cent with like-for-like growth of 4.4 per cent. The company said its growth was driven by investment in technology and rolling out new initiatives while “maintaining [...]
Indivior share price crashes 70 per cent after allegations of fraudulent drug marketing scheme April 10, 2019 Shares in FTSE 250-listed drug company Indivior crashed 70 per cent this morning after it was hit with a US indictment containing 28 felony counts last night. Its shares were down 70 per cent at 31p this morning. Reckitt Benckiser, its former parent company, saw its shares slide six per cent to 6,014p. Read more: Indivior [...]
Network International valued at £2.2bn in London’s largest listing of 2019 April 10, 2019 Dubai-based payments company Network International listed on the London Stock Exchange today with a valuation of £2.2bn, the largest float of the year so far. It priced its shares at 435p per share, giving its a market capitalisation of £2,175m at the time of admission. Read more: String of banks appointed as Travelex-owner Finablr weighs [...]
Home insurers make 100 per cent of profits from loyal customers April 10, 2019 Home insurance companies make 100 per cent of their profits from penalising loyal customers, new research shows. A study published today by Citizens Advice found home insurers make all their profits – amounting to over £1bn a year – from loyal customers holding policies for six years or more. The research showed that loyal customers [...]
British Airways settles long-running pensions battle with trustees April 9, 2019 British Airways has settled a long-running battle with the trustees of one of its staff pension schemes in a case that was set to go to the Supreme Court. The trustees of the nearly 25,000 member Airways Pension Scheme said today they had agreed to an out-of-court settlement to the dispute, subject to the approval of the [...]
HSBC banker killed in Alps snowboarding accident April 9, 2019 A British banker has been killed in a snowboarding accident in the Alps. HSBC contractor and artificial intelligence (AI) entrepreneur Stuart Thurlow, 50, was killed in the French ski resort of Avoriaz on Friday while boarding off piste. According to his Linkedin profile, Thurlow was a senior project manager at HSBC who had been working [...]
String of banks appointed as Travelex-owner Finablr weighs London float April 9, 2019 Payments company Finablr said today it was examining a London initial public offering (IPO) and had engaged a raft of top banks to act as underwriters and advisers. The United Arab Emirates-based company, which processed $114.5bn (£87.6bn) of payments in 2018, published a registration documents today and said it was weighing a $200m IPO. Read [...]
Hornby expects revenue to fall despite turnaround plan April 9, 2019 Model train-maker Hornby said today revenue for the year would be lower than the previous year due to issues with stock shortages. In a trading update for the year to 31 March it said that despite these “legacy issues”, its underlying margins have improved and reduction in overheads has continued. Read more: Hornby narrows losses [...]
