Why the Square Mile must break its silence on China June 17, 2019 If timing is everything, London’s stock exchange tie-up with China has been a disaster from the start. It is now four years since the plan was first revealed under the Sino-philic leadership of David Cameron and his chancellor George Osborne. Read more: London-Shanghai Stock Connect finally launches Yet the summer of 2015 also brought a [...]
Shanghai-London stock market connection finally launched June 17, 2019 The long-awaited London-Shanghai Stock Connect that links the two markets has been launched today, letting UK and Chinese companies sell shares on each others’ stock markets in a pioneering scheme. Read more: HSBC confirms it is exploring Chinese listing via new London-Shanghai link It marks the first time any foreign company will be able to [...]
Hargreaves Lansdown raised concerns about suspended Woodford fund as early as 2017 June 16, 2019 Hargreaves Lansdown raised concerns about the performance of the Woodford Equity Income Fund more than two years ago, but continued to recommend it to its customers. The investment adviser was also selling millions of pounds in stock in the fund, according to analysis by the Sunday Times. The Woodford Equity Income fund was frozen earlier [...]
SFO drops probe into how it handled ENRC investigation June 16, 2019 The Serious Fraud Office is dropping an inquiry into its handling of an investigation into former London-listed miner ENRC. Sir David Calvert-Smith has been asked to abandon his work after being appointed to head the independent inquiry last year, the Sunday Times reported. The SFO dropped the inquiry after ENRC decided to sue it for [...]
Jeremy Hunt slams Corbyn’s ‘pathetic’ response to oil tanker attack blamed on Iran June 15, 2019 The foreign secretary Jeremy Hunt has branded Jeremy Corbyn “pathetic” after the Labour leader said there was no credible evidence that Iran attacked two oil tankers in the Gulf of Oman. Corbyn accused the government of increasing the threat of war after the foreign office said it was “almost certain” the Iranian military were behind [...]
London Metal Exchange introduces alcohol ban on trading floor June 14, 2019 The London Metal Exchange (LME) has introduced an alcohol ban on its trading floor in the latest move to overhaul its workplace culture. Staff working on the trading floor, or the “Ring”, will be banned from being under the influence of alcohol while at work. Traders set global prices for metals at the 142-year-old exchange. [...]
Gulf of Oman oil tanker attack: US says video shows Iran removing unexploded mine June 14, 2019 The US military has released footage which it says shows Iran’s Revolutionary Guard removing an unexploded mine from an oil tanker that was targeted in an attack in the Gulf of Oman. In a statement the US said Iranian forces were “observed and recorded removing the unexploded limpet mine from the M/T Kokuka Courageous”. Read [...]
Brent crude soars after Gulf of Oman tanker attack June 13, 2019 | City Talk An attack on two oil tankers in the Gulf of Oman sent crude prices up on Thursday, putting the industry at the core of rising tensions in the region. As the US Navy said it was assisting the tankers in waters close to the Strait of Hormuz, Brent crude surged as much as 4.5 per [...]
The high five: your guide to the most valuable start-ups June 13, 2019 | City Talk It was the year of America’s 200th birthday, of a scorching heat wave in the UK followed by a huge sterling crisis, and it was the year that the only unelected president in US history, Gerald Ford, went down at the polls to the former Governor of Georgia, Jimmy Carter. Less remarked at the time [...]
Acacia shareholder Odey will vote against Barrick bid if it stays unchanged June 13, 2019 Investor Crispin Odey has backed a Barrick Gold offer for Acacia Mining in principle, but said it would not accept the bid as it stands. Odey Asset Management, will reject offers from Barrick unless they are open to negotiation, according to a letter seen by the Financial Times. It comes after Barrick made an offer [...]
