Apple to cut new iPhone production by 10 per cent as Christmas takes its toll January 9, 2019 Apple has reportedly slashed planned production for its three newest iPhone models by about 10 per cent for the next three months, just one week after the tech giant cut its revenue forecasts. Apple is said to have asked its suppliers to produce less of its iPhone XS, XS Max and XR models than originally [...]
Monsanto fined $289m in first Roundup cancer trial outcome August 11, 2018 Global chemical powerhouse Monsanto was slapped with a $289m (£226.3m) fine in a California court yesterday, closing the first of more than 5,000 similar lawsuits across the US. The lawsuit was filed by Dewayne Johnson, who alleged the company's glyphosate-based weed-killer products such as Roundup and Roundup Pro caused his cancer. The case was the [...]
DEBATE: As shares continue to tumble, could this be the beginning of the end for Apple? November 22, 2018 As shares continue to tumble, could this be the beginning of the end for Apple? Fiona Cincotta, senior market analyst at City Index, says YES. The easy money momentum trade on Apple looks to be well and truly over. As Apple heads into bear market territory and innovations are lacking, the future is looking less rosy for [...]
Former Stobart boss reduces stake in company after being sacked in boardroom bust up October 2, 2018 Former Stobart Group chief executive Andrew Tinkler has reduced his stake in the company after being sacked over a boardroom bust up earlier this year. Tinkler, who was fired from the board after an unsuccessful attempt to topple chairman Iain Ferguson in July, has sold part of his 7.7 per cent stake in £800m infrastructure [...]
PwC faces Guernsey probe over audit of failed claims funder October 7, 2018 PricewaterhouseCoopers (PwC) is being investigated following a shareholder complaint over an audit it conducted into an investment body based in Guernsey, the Sunday Times reported. The accountancy giant was approached by the the Institute of Chartered Accountants in England and Wales (ICAEW), the paper said, over concerns raised about an audit conducted for Juridica Investments, an [...]
AI’s success story still has a few missing chapters March 11, 2019 This article is not written by robots – we promise – but apparently the day when they could be is already upon us. We have just finished reading about the GPT-2 text generator which, according to this Spectator piece, “not only does text analysis and augmentation, but generates highly sophisticated content”. “It can effectively write articles,” [...]
‘Big Short’ investor who foresaw 2008 crash warns against ‘Trotskyite’ Corbyn government November 4, 2018 A US investor who predicted the financial crash has said he could be impelled to short up to 50 UK firms if "Trotskyite" Jeremy Corbyn becomes Prime Minister. Steve Eisman, who is the subject of Oscar-winning film The Big Short, said the UK was one of the biggest risks he was watching as it negotiates its [...]
Indian tycoon Vijay Mallya should be extradited, rules UK court December 10, 2018 Vijay Mallya, the Indian tycoon behind Kingfisher, should be extradited from the UK to India to face fraud charges over the collapse of his airline, it was ruled today. In a judgement at Westminster Magistrates Court, chief magistrate Emma Arbuthnot said Mallya – who co-owned Formula One racing team Force India until it went into [...]
Musk confirms Saudi sovereign fund as Tesla’s primary source of buyback funding | City A.M. August 13, 2018 Tesla’s chief executive Elon Musk confirmed today that he’s in talks with Saudi Arabia’s Public Investment Fund (PIF) for taking Tesla private but no funding has been secured yet. Musk revealed in a blog post this afternoon that the PIF’s managing director had expressed “strong support for funding a going private transaction for Tesla” at [...]
Rosenblatt share price dives in wake of departing finance director August 23, 2018 Specialist City law firm Rosenblatt saw its share price tumble as much as 12 per cent in morning trading today after the company's finance director said he was leaving the company for "personal reasons". Rosenblatt, which became the fourth law firm to list on the London Stock Exchange when it floated for £42m in May, is to [...]