The run on the pound hasn’t finished yet and will fall further when the PM triggers Article 50 November 1, 2016 Sterling will lose a further five per cent of its value against the dollar when Prime Minister Theresa May formally pushes the button to leave the EU. A poll of analysts revealed that the pound will most likely drop to $1.15 when May triggers Article 50, but Britain's currency will keep its nose above parity against the euro. [...]
Republican governor John Kasich has voted for John McCain rather than Donald Trump November 1, 2016 It's all going on in the US presidential election, after John Kasich, the Republican governor of Ohio, stuck to his guns and plumped for the party's 2008 nominee John McCain instead of current nominee Donald Trump. After abandoning his own bid in May, Kasich vowed not to endorse Trump, or indeed vote for him. He voted [...]
Hillary Clinton hits back at FBI again over email saga October 30, 2016 US presidential hopeful Hillary Clinton has hit back again at the FBI director James Comey for deciding to dredge up the matter of how she used her private emails so close to the vote. The Democratic presidential nominee has called on Comey to come forth with more information on why he has decided to reconsider the matter of the [...]
Now three Tata executives have quit, following ousted chairman out the door October 29, 2016 There's more going on in the Tata saga. Yes, more. Apparently three senior group executives at Tata Sons have resigned, as the conglomerate's management crisis worsens. Sources told Reuters the executives who quit were HR chief N.S. Rajan, group business development and public affairs head Madhu Kannan, and group strategy executive Nirmalya Kumar. Read more: Tata [...]
No deal: Belgium shuts down EU-Canada trade agreement over Wallonia concerns October 24, 2016 A landmark EU-Canada trade pact was thrown into chaos last night after Belgium failed to strike a deal with its rogue Wallonia region, prompting one of the country’s leading politicians to brand it a “laughing stock”. The impasse left the EU scrambling to save the ambitious trade agreement which had been seven years in the making. Last [...]
Pernod Ricard’s share price is up but warns British booze prices may need to go the same way October 20, 2016 Prices of some of Britain's best-loved spirits may be on the rise in coming months after the boss of spirits giant Pernod Ricard (Pernod) confirmed to investors that it would need to "adjust" prices in order to protect margins after sterling's recent slump. Pernod's finance chief, Gilles Bogaert, revealed the plans to increase prices in the UK after the group posted first [...]
BHS administrators submit investigatory report on former BHS directors to Insolvency Service October 19, 2016 Pressure is mounting on Sir Philip Green ahead of a parliamentary debate on BHS' collapse as City A.M. has learned the BHS administrators have submitted an investigatory report on the retailer's former directors to the Insolvency Service. The report from Duff & Phelps on the conduct of former directors will remain confidential unless the Insolvency Service publishes its investigation. Ministers [...]
SVG board gives HarbourVest takeover green light after forcing up price October 18, 2016 The board of SVG Capital (SVG) has accepted an increased takeover offer from US behemoth HarbourVest that will likely draw to a close a tumultuous month of punches and counter-punches between the two parties. The confirmation of the deal was announced this afternoon and will mean SVG shareholders will receive the equivalent of 715p a share for the assets of the [...]
Samsung will bounce back from its Galaxy Note 7 PR disaster October 17, 2016 Samsung's Galaxy Note 7 fiasco has been top of the headlines for the past six weeks, with the world’s largest smartphone maker finally deciding to stop making the highly combustible phablet. The result was an expected $5bn-plus hit to the company’s profit from the third quarter of this year to the first quarter of 2017. [...]
Kent call for arbitration in ECB non-promotion saga October 13, 2016 Kent are seeking arbitration with the England and Wales Cricket Board over their decision to keep the Canterbury-based side in Division Two and reinstate Hampshire to the top flight following Durham’s financial plight. The ECB resolved that Hampshire should retain their Division One status, despite being relegated last season, after Durham were demoted as punishment [...]