Glencore shares rise as cobalt production offsets copper drop February 4, 2020 Shares in global miner Glencore rose five per cent this morning as the firm brushed off lower production volumes of metals such as copper, gold and silver. Production of the red metal slipped six per cent in 2019 to 1.37m tonnes, whilst gold production fell 15 per cent to 848,000 tonnes. The company has been [...]
Facebook valuation takes a $50bn hit after growth slump January 30, 2020 Shares in Facebook fell as much as eight per cent as Wall Street opened this afternoon, following a disappointing set of a results from the tech giant last night. More than $50bn was wiped off Facebook’s market capitalisation as a result of the slump, though shares have since recovered to be down 6.8 per cent. [...]
Burford Capital faces setback in bitter battle over £350m mega-yacht February 11, 2020 Litigation funder Burford Capital has faced a setback in its battle to secure control of a £350m yacht in Dubai as part of a bitter divorce battle. Burford has funded Tatiana Akhmedova’s fight to secure the £453m divorce settlement granted against her ex-husband Farkhad Akhmedov by the English courts in 2016. Akhmedov refused to pay [...]
Court gives green light to T-Mobile’s $59bn merger with Sprint February 11, 2020 T-Mobile and Sprint were today given the green light for their $59bn (£45bn) merger after a US federal judge ruled the tie-up was legal. A group of US state attorneys general filed a lawsuit seeking to block the merger over concerns it would reduce competition and lead to higher prices. But judge Victor Marrero today [...]
Harvey Weinstein found guilty in landmark rape trial February 24, 2020 Disgraced Hollywood mogul Harvey Weinstein has been convicted of sexual assault and rape in a landmark case that inspired the #MeToo movement. A New York jury today found the producer guilty of sexually assaulting former production assistant Mimi Haleyi in 2006 and raping aspiring actress Jessica Mann in 2013. He faces up to 25 years [...]
Boeing 737 MAX certification test flights could start today June 29, 2020 The Federal Aviation Administration (FAA) has confirmed key certification test flights for the grounded Boeing 737 MAX could begin as soon Monday. In an email to Congress, the FAA said its Type Inspection Authorization (TIA) Board completed its review “clearing the way for flight certification testing to begin”. “Flights with FAA test pilots could begin as [...]
City grandee Bob Wigley sued over collapse of Yellow Pages-owner Hibu August 7, 2019 City grandee Bob Wigley has been named in a multi-million dollar lawsuit relating to his time as chairman of Yellow Pages-owner Hibu and the company’s collapse in 2013. The lawsuit, which was filed last week in the US, accuses Wigley and other directors and officers of the former FTSE 100 firm of deliberately crashing the [...]
US car giant General Motors sues Fiat Chrysler over union ‘bribes’ November 20, 2019 Two giants of the global automotive industry have come to blows this afternoon, with General Motors suing Fiat Chrysler of bribing US automotive workers to get better terms in strike negotiations. The US firm has filed a racketeering lawsuit against Fiat and its former executives, “intended to hold FCA accountable for the harm its actions [...]
Dismissal secured: Tesla gets Model 3 lawsuit thrown out on shareholder claims August 28, 2018 A lawsuit accusing Tesla of inflating its stock by pitching unattainable production numbers for its Model 3 sedan has been dismissed by a US judge in California. In a decision published late last night, US district judge Charles Breyer said shareholders had not provided enough evidence to suggest Tesla needed to be clearer that Model 3 [...]
Duke and Duchess of Sussex sue Mail on Sunday as they launch attack on Fleet Street October 1, 2019 The Duke and Duchess of Sussex have filed a lawsuit against the Mail on Sunday as they launched a blistering attack on the press over its “ruthless campaign” against them. In a statement posted to the couple’s website, Prince Harry said they were suing the newspaper over alleged misuse of private information, copyright infringement and [...]