SEC sues Volkswagen over ‘massive fraud’ on US investors during emissions scandal March 15, 2019 Volkswagen perpetrated a “massive fraud” on US investors over its diesel emissions scandal, according to a major regulatory body now suing the firm. Read more: Volkswagen boss apologises for 'unfortunate' Nazi gaffe The Securities and Exchange Commission (SEC) filed a civil complaint against the company overnight, claiming that the car manufacturer issued more than $13b [...]
Avesero shares lay flat despite massive jump in earnings and revenues at gold miner March 14, 2019 Gold miner Avesoro’s shares lay flat today despite a massive jump in revenues and earnings as the company admitted it was unlikely to generate free cash in the short term. The firm saw a significant increase in the value of its mine, nearly doubling the reserves. “The long term picture is much better than it [...]
Barrick and Newmont deal flurry helps smaller gold miners, says London firm’s boss March 14, 2019 Recent megadeals in the gold sector will likely boost small miners as investors start looking at gold, a top gold boss said yesterday after a transformational year for his company. Capital Drilling, which had been largely based in Egypt and Tanzania, decided to move huge parts of its operations after the market started to turn [...]
Mortgage finance hub Lendinvest targets £500m London listing March 14, 2019 Online property finance marketplace Lendinvest has reportedly appointed advisers for a potential £500m float. Lendinvest has appointed corporate finance firm Lazards to advice on a listing, Sky News reported. It is set to appoint a syndicate of banks for a float that could happen as soon as this year. Sky reports that the banks are [...]
Investor BNP Paribas drops coal from its portfolio as it looks to reach Paris climate goals March 14, 2019 BNP Paribas has said it will let go of up to €1bn (£850m) in coal assets as the investor seeks to reduce the environmental impact of its portfolio. The bank’s asset management group today announced plans to shed stocks in companies who mine or generate electricity from coal. Read more: Germany to completely phase out [...]
Ports owner DP World increases revenue growth amid global expansion March 14, 2019 DP World’s shares rose six per cent today on the Nasdaq Dubai exchange on the back of the strong revenue growth revealed in its full year results. The ports operator's revenues were boosted by its 2018 global expansion which saw it spend $2.5bn on acquisitions in India, Peru and Denmark. Read more: DP World pays £322m for P&O Ferries [...]
Shelling out: Oil major doubles chief executive Ben van Beurden’s pay March 14, 2019 Shell’s chief executive doubled his salary last year as he combed home €15m (£13m) in performance-related pay. Ben van Beurden grew his remuneration to €20m in 2018, up from around €10m the year before, the company announced today. Read more: Shell posts highest earnings in four years as cost cutting pays off “The remuneration committee is [...]
Westminster’s Brexit deadlock means the only realistic route forward is a second referendum over May’s deal March 14, 2019 Observing the dog’s breakfast that is the Brexit process in Westminster brings to mind the saying attributed to Albert Einstein that the definition of insanity is doing the same thing over and over, and expecting different results. The second meaningful vote has gone the same way as the first, and hints are now dropping that [...]
DEBATE: As RBS trials a fingerprint bank card, is biometric technology the future for digital payments? March 14, 2019 As RBS trials a fingerprint bank card, is biometric technology the future for digital payments? YES, says Ann Cairns, vice chairman of Mastercard. As we shift towards using digital services, and the need to protect our data becomes ever more critical, the use of passwords is woefully outdated. Many people simply have more passwords than [...]
Network International plans to float on London Stock Exchange March 14, 2019 Payment processing firm Network International has announced it plans to launch an Initial Public Offering (IPO) on the London Stock Exchange. The Dubai- based company, which operates in 50 countries across the Middle East and Africa, has appointed Ron Kalifa, the former chief executive of Worldpay – which listed in London in 2015 – as chairman. [...]
