Ferrari boosts guidance after beating third quarter forecasts November 3, 2020 Luxury carmaker Ferrari has upped its 2020 earnings guidance after beating forecasts in the third quarter with record quarterly volumes, revenues and Ebitda. Chief executive Louis Camilleri said the guidance implied a “very strong” fourth quarter. The company said it expects adjusted core earnings of approximately €1.125bn compared with €1.075-1.125bn previously, assuming conditions are not [...]
Corruption in the City: Pinning down companies’ criminal accountability July 28, 2021 This summer marked 10 years since the UK Bribery Act 2010 came into force. Amongst many new powers granted under the law, a particularly significant one was that of the ‘failure to prevent’ corruption or bribery, under which businesses could be held liable and responsible for the actions of their subordinate, unless they had sufficiently [...]
‘Zombie’ firms set to fail as pandemic leaves 527,000 businesses on cliff-edge July 24, 2020 A record 527,000 businesses were in significant financial distress at the end of June, an increase of 33,000 since the beginning of the year. It represents a seven per cent increase since the start of the year, and nine per cent year-on-year, according to new research from corporate restructuring firm Begbies Traynor. While the coronavirus [...]
Insurance, disrupted: What does the start of 2021 tell us about the industry? January 29, 2021 We waited patiently for the new year. January was meant to be a fresh dawn, with many businesses embarking on transformation programmes to emerge stronger from the pandemic. But, looking at the economic and political events from this month, we see more disruption ahead. Particularly for insurance companies. Before founding OLIVER, I spent 15-years at Commercial [...]
Manchester City’s two-year ban from Champions League lifted July 13, 2020 Manchester City’s two-year ban from European football has been overturned by the Court of Arbitration of Sport (CAS), it said this morning. The decision means it will compete in next season’s Champions League, providing a major financial boon for the team’s by Abu Dhabi-controlled owner City Football Group. CAS ruled that Manchester City did not [...]
HSBC results: Shift to Asia, office space slashed, dividend returns February 23, 2021 HSBC today said it plans to nearly halve its office space globally as part of a radical overhaul that will see the lender shift its focus to Asia. The bank will pump roughly $6bn (£4.3bn) into the region over the next five years, focusing mainly on its wealth management business in greater China as well [...]
Lagos imposes 24-hour lockdown amid protests against Nigeria’s police October 20, 2020 Lagos imposes 24-hour lockdown amid protests against Nigeria's police
New Standard Contractual Clauses approved by EU – and what they mean for UK businesses June 15, 2021 The EU’s General Data Protection Regulation (GDPR) made headlines when introduced in 2018, and led to significant changes to how UK businesses handle data. This year – and even though the UK has left the EU – there are new EU data rules coming in, to which UK businesses may need to respond. The latest [...]
NMC Health requests delisting from London Stock Exchange April 27, 2020 Embattled hospital operator NMC Health has requested for its shares to be delisted from the London Stock Exchange after they were suspended two months ago. Shares in the healthcare operator were suspended in February. It was placed into administration this month following an application from lender Abu Dhabi Commercial Bank. It came after the hospital [...]
Swiss firms narrowly avoid ‘Responsible Business’ liability as vote divides nation November 29, 2020 By Brenna Hughes Neghaiwi ZURICH (Reuters) – Swiss firms narrowly avoided facing greater liability for human rights and environmental abuses on Sunday after a national vote rejected the proposal due to regional differences despite it winning majority popular support. In a divisive referendum, 50.7% of Swiss voters supported proposals by the Responsible Business Initiative (RBI) [...]