Just Eat shares fall after Amazon leads $575m investment round in rival Deliveroo May 17, 2019 Just Eat shares fell eight per cent this morning after Amazon led a $575m (£450m) investment round in rival Deliveroo. Read more: Deliveroo to 'invest heavily' in London tech with Amazon's £450m Just Eat's shares dropped 8.3 per cent to 621p in early trading after the fund raising. Analysts at Peel Hunt said that the Amazon [...]
Brexit talks between the Conservatives and Labour set to close without a deal May 17, 2019 Cross-party Brexit discussions between Labour and the Conservatives are set to close without a deal, according to reports. Prime Minister Theresa May and Labour leader Jeremy Corbyn will now move into a second stage of talks, aimed at agreeing a parliamentary process that could be used to reach a consensus. Labour are worried that a [...]
Barclays and the Royal Bank of Scotland among five banks hit with €1bn fine for forex rigging May 16, 2019 The EU Commission has fined five banks €1.07bn (£940m) for rigging foreign exchange markets for 11 currencies, it announced today. Competition regulators fined Barclays, The Royal Bank of Scotland (RBS), Citigroup, JP Morgan and MUFG Bank, while UBS was not fined as it revealed the existence of the rigging to the regulator. In the first [...]
Serious Fraud Office arrests four in probe into UK fuel distribution giant Greenergy May 16, 2019 The Serious Fraud Office (SFO) said today it had launched an investigation into UK petrol giant Greenergy, arresting four individuals. The SFO said it had opened a joint investigation with Dutch authorities concerning aspects of biodiesel trading at Greenergy and various third parties. Read more: Serious Fraud Office drops probes into Rolls-Royce and GSK Greenergy [...]
KPMG UK introduces new audit structure but falls short of full separation May 16, 2019 Big Four firm KPMG said today it was introducing a new structure to move its audit arm away from the rest of its UK business, but falling short of a full separation. The move follows a report from the Competition and Markets Authority which called for a separation of audit from consulting services after a [...]
Theresa May to meet senior Conservative backbench MPs today in showdown over her future May 16, 2019 Prime Minister Theresa May is set to meet senior Conservative MPs today in a showdown over her future. Read more: Labour hand May a Brexit deal lifeline by refusing to vote down her plan May is holding talks with members of the executive of the backbench 1922 committee as pressure mounts on her to set [...]
Just Group shares slide after it reveals sales plunge May 16, 2019 Just Group shares fell more than seven per cent this morning after it revealed a plunge in sales. The retirement group said retirement income sales for the three months to 31 March were 59 per cent lower than for the previous quarter, which it said was a result of a lower level of completed defined [...]
Investors in forex trading firm Hudspiths could lose millions as company faces CVA May 15, 2019 Investors in a forex trading scheme that promised stellar returns could lose millions of pounds as the company teeters on the brink. Swindon-based Hudspiths fought off a winding up petition in the High Court today brought by 31 creditors who said they are owed £5m. The case has been adjourned until 12 June to allow Hudspiths [...]
William Hill boosts revenue after international expansion campaign May 15, 2019 Bookmaker William Hill said today it had increased its revenue after a campaign of international expansion. In a trading update for the 17 weeks to 30 April, William Hill said net revenue grew two per cent, which it said reflected a “year of transition in retail and online”. Online net revenue grew eight per cent, [...]
Travelex owner Finablr launches London IPO at reduced price in tough market conditions May 15, 2019 United Arab Emirates-based payments company Finablr floated in London today at a reduced price to reflect difficult market conditions. The Travelex-owner said it would raise £306m to give the business a market capitalisation of approximately £1.225bn. Read more: Travelex-owner Finablr to raise $200m in London listing The offer price has been set at 175p, well [...]
