Former Stobart boss Tinkler denies £5m expenses were claimed improperly November 12, 2018 Former Stobart Group chief executive Andrew Tinkler today denied accusations he improperly claimed £5m in expenses when he was head of the infrastructure firm. In the first day of a High Court trial centring on whether Tinkler was unfairly dismissed, lawyers for Tinkler said the claim that he breached his duties in claiming £5m of [...]
Fishing Republic on the hook as it tries to land extra finance November 12, 2018 Angling retailer Fishing Republic warned today its future is uncertain as it works to raise extra finance. The Aim-listed business said there was “material uncertainty regarding the group’s financial position” and said “the group continues to trade only with the short-term support of key creditors”. Shares in the group were suspended on 16 October after [...]
Saudi Aramco boss says listing will take place within three years November 12, 2018 The boss of Saudi Arabia’s national oil company Saudi Aramco said today that its long-awaited float was still in the pipeline. Chief executive Amin Nasser said the initial public offering (IPO) would “certainly” happen when conditions are right. Speaking in Abu Dhabi, Nasser said crown prince Mohammed Bin Salman and energy minister Khalid al-Falih were [...]
UK manufacturing confidence slides to 16-month low November 12, 2018 UK manufacturing confidence fell to a 16-month low in October having fallen for a fourth consecutive month, according to a report published today by accountancy firm BDO. Manufacturing confidence fell to its lowest level since June 2017 according to BDO’s business trends report, falling 1.82 points to 106.66, while manufacturing business output slipped from 103.26 to [...]
The number of people banned from the financial services sector rose 28 per cent last year November 12, 2018 The number of individuals banned from working in the financial services sector by regulator the Financial Conduct Authority (FCA) rose 28 per cent last year, research published today shows. There were 23 people banned from working in the industry by the FCA in 2017-18, up from 18 the previous year, according to City law firm [...]
Zizzi’s Salisbury Novichok attack restaurant doubles customers on re-opening November 12, 2018 The restaurant which was caught in the middle of the Salisbury Novichok poisoning has doubled its customers since re-opening last week. The Salisbury branch of Zizzi was closed after traces of the Novichok nerve agent used to poison Sergei and Yulia Skripal were reported to have been discovered at the Italian restaurant. “The last two [...]
Star trader Neil Woodford sells an estimated £1.4bn of shares in six months November 11, 2018 Top fund manager Neil Woodford has reportedly sold £1.4bn of shares in the last six months. The ex-Invesco star trader has sold down positions in companies such as pharma business Astra Zeneca, brickmaker Forterra and travel website Hostelworld. According to estimates from the Sunday Times, Woodford’s selling spree totals £1.4bn since the end of March. [...]
Shake up at Dirty Martini as owners appoint advisers for possible sale November 11, 2018 The group that runs the Dirty Martini chain of cocktail bars confirmed today it had appointed advisers to examine a sale. CG Restaurants said it had “received a number of unsolicited approaches, which are being considered in the context of delivering best value to our shareholders.” It also said: “This may or not result in [...]
SSE expected to announce profit drop as Npower merger hits snag November 11, 2018 Big Six energy company SSE is expected to announce a 43 per cent drop in profit for the first half of the year in its results on Wednesday. On Thursday SSE said the anticipated merger of SSE Energy Services with Npower would be delayed beyond the first quarter of 2019 in order to renegotiate commercial [...]
Shareholders at Randgold Resources vote to back merger with Barrick Gold November 7, 2018 Shareholders at Randgold Resources overwhelmingly backed the miners proposed $6bn (£4.6bn) merger with Barrick Gold today. At an extraordinary general meeting in Jersey today 95 per cent of voters backed the tie-up which has been agreed in September, clearing the required hurdle of 75 per cent. On Tuesday Randgold reported a 25 per cent profit [...]
