After Volkswagen crisis the next major corporate scandal is imminent – CIPD October 22, 2015 It won’t be long before the next major corporate scandal unfolds, according to research carried out by the CIPD, the professional body for HR and people development. During an investigation into ethical decision making in business, 29 per cent of company heads from across the world admitted to compromising on principles in order to meet [...]
SMMT British car manufacturing up 15.5 per cent from last September October 22, 2015 British car production is motoring away, with manufacturing in September up 15.5 per cent from last year. A total of 158,281 new cars were made in September, bringing the total for the year-to-date to 1.2m, a 3.3 per cent year-to-date increase on 2014, according to the latest data from the Society of Motor Manufacturers and Traders [...]
Fossil fuel firms could be misleading shareholders over forecasts for oil and gas demand – Carbon Tracker October 22, 2015 Fossil fuel firms may be misleading shareholders with optimistic forecasts for the future demand of coal, oil and gas to justify multi-billion pound investments, according to a report by Carbon Tracker. The energy industry’s current predictions for future fossil fuel could be skewed to the upside, because they underestimate changes in emissions policy, technological advances [...]
Rate of global M&A slowest for three years thanks to Fed uncertainty and China October 22, 2015 Global M&A will slow over the next six months as interest rate uncertainty and the global slow-down led by China erodes business confidence. 2015 is on track to be a record year for M&A, according to a forecast from Intralinks, but the number of early-stage deals being prepared is slowing. Globally, there is likely to [...]
Bank of England governor Mark Carney warns Brussels against curbing the central bank’s powers October 22, 2015 Bank of England chief Mark Carney last night warned Brussels against stepping on its toes, in a highly-anticipated speech on Britain’s EU membership. Carney warned that inflexible financial regulations are making it harder for the Bank to watch over the UK’s financial centre. He took aim at the EU’s bankers’ bonus cap, arguing that it [...]
UK government finances back on track as George Osborne tries to balance the books October 21, 2015 The government borrowed £1.6bn less in September than it did in the same month in 2014, according to figures published by the Office for National Statistics yesterday. Government borrowing since April, which tends to be a better indicator of state finances than single monthly figures that can be volatile, is down £7.5bn to £46.3bn. Chancellor George [...]
Valeant Pharmaceuticals slams scathing note on drug sales in bid to reverse share price spiral October 21, 2015 Under fire drug company Valeant Pharmaceuticals tried to halt its plummeting share price yesterday by hitting back at a damning note that questioned the medical firm’s relationship with specialty mail-order pharmacies . Valeant shares plunged as much as 30 per cent to $88.58 yesterday after Citron Research accused the company of fraud, saying it used [...]
Merlin and China Media Capital strike joint venture deal to open Legoland in Shanghai October 21, 2015 Madame Tussauds owner Merlin Entertainments announced that it has struck a joint venture agreement with China Media Capital to develop new attractions in China including a Legoland in Shanghai. Under the agreement, which was announced as part of Chinese President Xi Jinping’s state visit, the pair also plan to develop various other Merlin brands across China [...]
British Bankers’ Association warns banking jobs are shifting from London to regional cities October 21, 2015 Banking jobs are shifting from London to smaller, regional cities, according to a new report from the British Bankers’ Association (BBA). According to the banking industry group, while the industry has shrunk in the capital in the past two years, banking jobs are booming in such places as Tunbridge Wells, South Gloucestershire, Chelmsford and North [...]
Lonmin share price dips as it reveals plans for cash call in the face of debt crunch October 21, 2015 Embattled Lonmin has become the latest miner to ask for cash from its shareholders, as it struggles with an unwieldy debt load taken on at the height of the commodities boom. The South African platinum producer outlined plans for a $400m (£259m) rights issue, which it needs for banks to agree to $370m in debt facilities that will [...]