Twice as many Johns and Jonathans sit on UK FTSE 100 boards as black or minority ethnic Brits October 25, 2018 There are twice as many people named John or Jonathan on the board of the UK’s biggest firms than there are British black and minority ethnic (BME) directors, according to new research. The statistics, which show that two per cent of FTSE 100 board members are BME – seven times lower than if representation matched [...]
Civil service boss steps down over ill health following cancer diagnosis October 24, 2018 Head of the civil service Sir Jeremy Heywood has stepped down from the role over ill health after being diagnosed with cancer last year, the Cabinet Office announced today. National security advisor Sir Mark Sedwill, who has been acting cabinet secretary since Heywood took a leave of absence in June, will take on the role [...]
Oil prices steady after four per cent drop despite 6m jump in barrel stockpile October 24, 2018 Oil prices have steadied after hitting low of $75 per barrel this morning, following yesterday’s four per cent price dive amid a continuing political crisis in Saudi Arabia. The price of Brent crude, the global benchmark, steadied to $76.52 this afternoon after it fell to the lowest point since 24 August earlier in the day. Read [...]
Porsche SE ordered to pay damages over emissions scandal disclosures October 24, 2018 Porsche SE has been ordered to pay damages to shareholders and charged with violating disclosure rules connected to the diesel emissions scandal, law firms involved in the case said. Read more: Regulator hits Audi with €800m fine Investors sued the company for failing to tell shareholders about the emissions scandal quickly enough, as the holding [...]
Ex-Afren executives guilty of $300m oil business deal fraud October 24, 2018 Two former Afren oil executives who laundered $45m (£34.83m) after deceiving the now collapsed company into a fraudulent $300m deal have today been found guilty. Former chief executive Osman Shahenshah, 56, and ex-chief operating officer Shahid Ullah, 59, hatched the plan after a shareholder revolt objected to their £6.6m and £3.8m salaries. Read more: Afren sinks into administration The [...]
Arnold Schwarzenegger ad campaign drives PPI payments to £3.7bn in 10 months October 24, 2018 A total of £3.7bn has been paid out relating to wrongfully sold payment protection insurance (PPI) since the City watchdog launched a campaign featuring an animatronic Arnold Schwarzenegger head to increase consumer action. Since the campaign started at the beginning of this year, 4m checking enquiries were made with monthly volumes up 40 per cent on [...]
Central Line strike to go ahead on same day as Piccadilly Line walkout October 24, 2018 Central Line train drivers will stage a 24-hour strike next month, on the same day as industrial action on the Piccadilly Line, over a "breakdown in industrial relations" between the tube union and Transport for London. The Rail, Maritime and Transport union announced that tube drivers will walk out on 7 November, joining previously announced industrial [...]
Global trade tensions send Eurozone PMI to two-year low October 24, 2018 The Eurozone economy grew at the slowest rate for more than two years in October as uncertainty over global trade relations deepened an export-led slump. The purchasing managers index for the eurozone fell to 52.7 this month, down from 54.1 in September, hitting a 25-month low. Read more: EU seeks to cool down Italy tensions as [...]
Barrick’s merger with Randgold could spark $5bn asset sales, BMO says October 23, 2018 Canadian miner Barrick Gold's merger with Randgold Resources could spark up to $5bn (£3.85bn) of asset sales, BMO Capital Markets said. The merger, which will value the combined company at around $18bn (£13.86bn), could reinstate Barrick as the largest gold producer, however analysts said the company aims to become the lowest cost western-based gold producer. Read more: Gold [...]
Merian Global Investors targets Asia expansion with Ping An partnership October 23, 2018 Merian Global Investors has signed an agreement with Hong Kong asset management firm Ping An as the firm targets expansion into Asia. The London-based asset management business agreed a Memorandum of Understanding with Ping An this morning, which will allow the firms to work together on fund distribution, marketing and investment advisory services. Read more: FTSE [...]
