The Volkswagen scandal rolls on: VW recalls nearly 2,000 cars in China October 12, 2015 Volkswagen is recalling almost 2,000 cars in China with the 'defeat device' that allowed the car-maker to cheat emissions tests. The German car maker said 1,946 Tiguan SUVs and four Passat B6 sedans were affected, and all had been imported from abroad with the device. Volkswagen's two joint Chinese ventures that produce cars domestically said the [...]
Russian commodities firms Eurasia Drilling Company, Uralkali PJSC and Polyus Gold are fleeing London’s stock markets October 12, 2015 Russians are flocking to leave the London stock exchange as commodities companies take a hammering. Eurasia Drilling Company, Russia's largest driller, confirmed this morning its managers would buy out the company and de-list it from the London Stock Exchange, for an increased price of $11.75 a share. If the deal goes ahead, and is approved by two-thirds [...]
Lack of funding for small businesses could cost the UK up to £2.9bn October 12, 2015 The UK’s small businesses are being stymied by a lack of funding, which is holding the UK's economy back. A lack of funding from high street banks since the recession, has slowed small business growth and could have cost the UK economy as much as £2.9bn of potential turnover in the last five years from SMEs, according [...]
Junior market feels the effects of China slowdown and commodities rout as IPOs and M&A plunge October 12, 2015 IPO and M&A activity on AIM have plummeted to the lowest levels since the recession, as jitters over China deter investors. In the last quarter there were just three mergers, down from 13 in the same period in 2014, and 20 in 2010. There was a similar drop in IPOs: just seven companies floated on the [...]
Who will blink first in the Megabrew deal: SABMiller or AB InBev? October 11, 2015 With two days to go before the deadline for AB InBev to 'put up or shut up', negotiations between the world’s two largest brewers have taken an increasingly combative turn as SABMiller puts up roadblocks to a takeover by its larger rival. Shots were fired last week when Anheuser-Busch InBev made its offers public, and [...]
Volkswagen emissions scandal latest: VW’s UK managing director Paul Willis will be grilled by MPs on Monday about the impact to the UK car industry October 11, 2015 Volkswagen UK's managing director Paul Willis is due to face MPs on the Transport Select Committee on Monday to answer questions on how the company’s external investigation is going and how it intends to rectify the damage the emissions scandal has caused. The Society of Motor Manufacturers and Traders' chief executive Mike Hawes will also be questioned [...]
Graham Donoghue is leaving Moneysupermarket after seven years as chief product officer October 8, 2015 Moneysupermarket's chief product officer Graham Donoghue is leaving after seven years with the business. The price comparison website, best known for their bootilicous adverts with Dave and Sharon Osborne, announced that Donoghue would remain until the end of the year to oversee the handover to his successor, who has already been appointed. City A.M. understands that Donoghue's successor, [...]
Investment Association chief Daniel Godfrey ousted October 7, 2015 Daniel Godfrey, chief executive of the Investment Association, the UK investment managers' trade body, will leave the board with immediate effect. The news comes after Sky reported on Monday that M&G Investments and Schroders, who between them manage some £550bn of assets, will not renew their contract with group, and Fidelity Investments, Aberdeen Asset Management [...]
Standard Chartered set to become India’s first foreign bank to set up a regional subsidiary October 6, 2015 Standard Chartered is set to become the first major foreign bank to set up a subsidiary in India. The Financial Times has reported that the London-based bank is the only one of India's three big foreign lenders – the others are HSBC and Citigroup – to agree to regulatory changes requesting foreign banks set up subsidiary companies. [...]
Standard Chartered is looking to set up an Indian subsidiary October 6, 2015 Standard Chartered is set to become the first major foreign bank to set up a subsidiary in India. The Financial Times has reported that the London-based bank is the only one of India's three big foreign lenders, which include HSBC and Citigroup, to agree to regulatory changes requesting foreign banks set up subsidiary companies. India [...]
