Petropavlovsk shareholders set for crunch vote after months of boardroom strife August 6, 2020 Shareholders at gold miner Petropavlovsk will on Monday vote to settle months of strife after a long-running tussle for control of the firm’s board. Voters will choose between rival proposals investors from Prosperity Capital Management and Everest Alliance over the future make-up of the board after seven directors, including chief executive Pavel Mavlovskiy, were ousted [...]
Markets live: US stocks dip on stimulus fears after miners pull FTSE 100 lower August 6, 2020 The FTSE 100 sank sharply today as traders appeared to react negatively to the Bank of England’s relatively upbeat assessment of the UK economy, amid fears of a lack of fresh US stimulus. The UK index dropped 1.32 per cent to 6,024 points by 4pm, after the Bank said the economy would fall less sharply [...]
Brussels set to make face masks compulsory in public places August 6, 2020 The local Brussels government is preparing to force people to wear face masks in public spaces and in private places accessible by the public, should the recent surge in coronavirus infections continue. According to Rudi Vervoor, the minister-president of the Brussels region, the order will be imposed as soon as the daily number of cases [...]
Fortnite creator Epic Games raises $1.78bn August 6, 2020 Epic Games, the firm behind the popular online multiplayer game Fortnite, said today it has raised $1.78bn in its latest funding round, taking its valuation to $17.3bn. The latest funding round includes the $250m investment made by electronics giant Sony last month for a reported 1.4 per cent stake in the company. Other new investors [...]
England’s coronavirus spread slowed as lockdown eased, according to study August 6, 2020 The spread of coronavirus in England slowed as the country transitioned out of the initial lockdown phase and shops, pubs and restaurants started to reopen. The spread of infections slowed in June and early July, according to an Imperial College study of 150,000 volunteers. “As the SARS-CoV-2 epidemic in England transitioned out of its initial [...]
Property industry reacts to planning system overhaul August 6, 2020 The government has launched a consultation on England’s planning system, as it seeks to slash red tape for new developments. In the planning White Paper, published this morning, the government said it wanted to cut the number of planning cases that are overturned at appeal by creating a “clearer, rules-based system”. Every area will have [...]
Meggitt shares sink over reports firm mulling equity raise August 6, 2020 Engineering firm Meggitt has said it is reviewing its options after reports that the FTSE 250 firm was considering raising new equity to help bolster its finances. Yesterday Bloomberg reported that the aerospace engineer was mulling a $600m (£455m) sale of new stock and was reviewing its debt with advisers. Shares fell 6.2 per cent [...]
BoE governor Andrew Bailey: Some parts of economy no longer ‘viable’ August 6, 2020 Bank of England governor Andrew Bailey has warned that “some parts of the economy” will not be “viable” after the coronavirus pandemic. He also backed the government’s move to end the furlough scheme in October. He said “we have to look forwards”. Bailey was speaking to broadcasters after the Bank kept interest rates on hold [...]
Edward Bramson resumes activist campaign against Barclays August 6, 2020 Edward Bramson has renewed his activist campaign against Barclays’ investment bank, even after the division reported a surge in revenue this year. Bramson reportedly told shareholders in his investment Sherborne Investors that the pandemic had “significantly distorted the first half results of all the banks”. In April Bramson called a temporary truce in his battle [...]
Weekly US jobless claims beat expectations and drop to 1.2m August 6, 2020 Slightly under 1.2m Americans made new jobless claims last week, a better-than-expected figure that will fuel hopes that the US economy’s recovery will not be derailed by coronavirus cases. Initial jobless claims came in at 1.19m last week, down from 1.44m a year earlier, the Labor Department said. The weekly total was much better than [...]
