TI Fluid Systems has withdrawn its plans for a London listing October 12, 2016 TI Fluid Systems became the latest casualty of uncertain market conditions as it pulled its London listing before it even had to chance to garner interest from cornerstone investors. The Bain Capital-backed group was eyeing up a €600m (£540m) listing. But less than two weeks since announcing its intention to float, sources close to the company [...]
Tesco is struggling to stock key staples after price row with Unilever October 12, 2016 Tesco boss Dave Lewis is on a collision course with the company where he earned his stripes after the supermarket revealed it was running out of staple products such as Marmite and PG Tips. The supermarket giant said that it was running low on Unilever products and it is understood that this was as a result of [...]
Businesses phone action group to seek representation in action against controversial RBS division October 12, 2016 An action group set up solely to facilitate suing Royal Bank of Scotland (RBS) has received a large uptick in calls from businesses who wish to be represented in the wake of recent leaked reports into the actions of the bank's controversial restructuring division. RGL Management Limited (RGL) said that following the release of the "Dash for Cash" report by BuzzFeed [...]
The Bank of International Settlements (BIS) reports on progress of Basel III implementation October 12, 2016 Key banking reforms to ensure that financial institutions are appropriately capitalised are on track to be finalised according to a European supervisory committee. The Bank of International Settlements' (BIS) oversight committee on finalising Basel III said that reforms implemented so far had "introduced a comprehensive and wide-ranging strengthening of global bank standards". Read more: EU passes barrage of banking regulation [...]
Bank and its money laundering reporting officer fined for failing to take heed of warnings October 12, 2016 A Bangladesh state-owned bank has been slapped with a multi-million pound fine by the Financial Conduct Authority (FCA) for "serious and systematic" anti-money laundering failings at its UK arm. The banking regulator fined Sonali Bank £3.3m, prevented it from accepting new deposits for five and a half months and imposed a penalty of £17,900 on the bank's former money laundering reporting [...]
French President hits out at US policy to levy fines on European companies October 12, 2016 France's President Francois Hollande has accused the US of double standards in throwing multi-billion euro fines at European banks while complaining about European Commission investigations into US companies. Speaking to French magazine L'Obs he explained that this was a key reason why he could not support a European free trade deal with the US. Read more: Merkel, Renzi [...]
Government tables Brexit counter-motion in attempt to head-off Conservative anti-Brexiteers October 11, 2016 NULL
Sainsbury’s plans Argos presence in all larger stores October 11, 2016 Sainsbury's chief executive Mike Coupe has confirmed plans to put an Argos in every one of its large stores. The supermarket completed a £1.4bn takeover of Home Retail group, which owns retailers including Argos and Habitat, in September in a deal that it hoped would expand its online offering and increase its footprint in the UK. Read more: Sainsbury's [...]
RMT accepts offer from Southern Rail for talks on Wednesday October 11, 2016 Fresh talks will go ahead tomorrow in an attempt to break the deadlock between Southern Rail and the Rail and Maritime Transport (RMT) union. Charles Horton, the beleaguered boss of Southern Rail, today offered to meet with the RMT to try and halt ongoing industrial action. Read more: Southern Rail commuters had very British responses to today's train [...]
Government hails a new air lane agreement with China that is “vital” for post-Brexit Britain October 11, 2016 The Department for Transport (DfT) has negotiated a deal that will more than double the number of flights between Britain and China. In a move the DfT said would "boost tourism and trade opportunities for the UK", 100 flights will now be allowed to depart from each country, each week. Previously a restriction was in place [...]
