Business
Goldman Sachs UBS set to move jobs from London
UBS and HSBC both warned of moving 1000 jobs out of London on Brexit, Goldman Sachs is also reportedly ready to cut staff. UBS chairman Axel Weber said that about 1000 of the Swiss bank's 5,000 employees in London could be affected by Brexit, while HSBC Chief Executive Stuart Gulliver said his bank will relocate staff...
Cryptocurrency firm KeepKey offers 30 Bitcoin reward for arrest of ransom-hungry hacker
KeepKey, a firm that produces a hardware wallet used to store cryptographic keys for virtual currency, is offering a 30 Bitcoin (£22,379, $27,540) bounty for tips leading to the arrest of a hacker who tried to hold the company's founder to ransom after breaking into his personal accounts. Darin Stanchfield, chief...
Commodities Round-up: Oil heads sideways, gold slides as traders book profits on recent highs
Oil headed sideways while gold futures slid on Friday (6 January), after a strong US jobs report boosted the dollar, and traders booked profits on recent commodity contract highs. The US economy added less jobs than expected in December, but wages increased at the fastest pace since 2009, according to Department of Labor's...
Ford scraps plans for $1.6bn Mexican plant in favour of US factory following Trump criticism
Car giant Ford Motor Company said it will cancel plans to build a new $1.6bn (£1.3bn) plant in Mexico, deciding to instead invest $700m and add 700 jobs at an existing Michigan factory, following sustained criticism from US President-elect Donald Trump. Trump has strongly criticised major US firms for moving jobs outside...
Boss of Japan’s biggest ad agency resigns after suicide of overworked employee
The head of Japan's largest advertising agency is to resign, following the suicide of a young graduate who worked hundreds of hours of overtime. Dentsu president Tadashi Ishii said he would tender his resignation at a January 2017 board meeting after six years at the helm of one of the country most respected businesses. The...
Now you can fly to New York for only £56 – but there’s a bit of a catch
You will soon be able to fly from the UK to New York for just £56 – but there’s a catch. The price from Norwegian Airlines sounds great on the face of it, who wouldn’t want to pay less than £60 for a one-way flight across the Atlantic Ocean. But you will have to be willing to make a few sacrifices...
Canadian firm CCL to acquire UK’s new £5 note maker Innovia for £680m
CCL Industries has agreed to acquire UK's high-tech film maker Innovia Group, which is the current supplier of Bank of England's (BoE) new £5 plastic notes. The Canadian label and packaging maker made the announcement on Monday (19 December). The Ontario-headquartered company said that the deal value would stand...
US Marshal arrested for pointing gun at McDonald’s cashier
He’s not “lovin’ it.” An impatient U.S. Marshal tired of waiting for his food at a Brooklyn McDonald’s pulled a gun on a cashier hoping it would expedite service — but was instead arrested, cops said Sunday. Deputy Marshal Charles Brown entered the fast food joint in Bay Ridge around 1:20...
Brits will spend £2.6 billion today as high streets get set for ‘Panic Saturday’
It’s probably just dawned on you – it’s the last weekend before Christmas. And you haven’t done your shopping yet. The realisation is setting in. You’ll have to head out – with MILLIONS of other shoppers. That’s right folks – get set for chaos of epic proportions as today is,...
Commodities round-up: Gold, oil futures slide as Fed meeting approaches
Crude oil and precious metals headed lower on Tuesday (13 December) ahead of the US Federal Reserve's monetary policy meeting slated for Wednesday, with the market pricing in a 25 basis point rate hike for the first time in 12 months. Both gold and silver took a pounding. The Comex gold contract for February delivery...
Tata Steel needs to overcome major hurdles to save Port Talbot plant, warns Pensions Regulator
While Tata Steel's decision to invest £1bn ($1.26bn) in its UK business could save the Port Talbot plant from closing down, it still faces some major hurdles, The Pensions Regulator (TPR) has warned. The UK non-departmental public body said these hurdles were related to Tata Steel's UK pension scheme. The...
Irish banana giant Fyffes is being taken over by one of Japan’s biggest companies
DUBLIN-BASED FRUIT SUPPLIER Fyffes is set to be taken over by Japanese company Sumitomo in a deal worth just over €750 million. The two companies this morning announced they had agreed a cash offer for the sale, which represented a near-50% premium on Fyffes’ current value. Fyffes, known for its distinctive blue...
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