Category: Europe
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Kweku Adoboli, ex-UBS trader deported to Ghana
Kweku Adoboli, the former UBS trader convicted of fraud, has been deported to Ghana, despite a long campaign to keep him in Britain. His lawyer confirmed he was flown out of Heathrow Airport in the evening of November 14th, 2018 after being detained in Scotland on Monday. Adoboli, aged 38 and who has lived in…
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UK economy grows at fastest rate since late 2016
The UK economy grew by 0.6% in the three months to September, with warm weather boosting consumer spending, the Office for National Statistics said. The figure for the third quarter is in line with predictions from the Bank of England and other forecasters. However, buoyant growth in July was offset by a slowdown in August and…
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Wal-Mart triples online items, lowers prices as holiday season kicks in
Wal-Mart Stores Inc is planning to boost sales and fend off rivals this holiday season by doubling down on incentives for shoppers who buy online and those who visit its stores. The world’s largest retailer said it tripled its online selections for the holiday season to 60 million items, and that it would provide free…
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Spanish tensions bar Europe from global stocks party
Global stock markets hit a record high on Wednesday with investors in exuberant mood in the United States overnight and in Asia later, but sentiment in Europe was soured by a political crisis gathering steam in Spain. Tensions between Madrid and Catalonia have risen since the wealthy region held an independence referendum on Sunday that…
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EU takes Ireland to court for not claiming Apple tax windfall
The European Commission said on Wednesday it was taking Ireland to the European Court of Justice for its failure to recover up to 13 billion euros ($15.3 billion) of tax due from Apple Inc (AAPL.O), a move labeled as “regrettable” by Dublin. The Commission ordered the U.S. tech giant in August 2016 to pay the…
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Oil slides from nine-week highs as market looks to OPEC
Oil prices edged lower on Monday, sliding away from nine-week highs, as worries lingered over high production from OPEC and the United States. Global benchmark Brent crude futures LCOc1 were down 65 cents, or 1.24 percent, at $51.77 a barrel at 0926 GMT. U.S. crude futures CLc1 were down 59 cents, or 1.19 percent, at…
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Brexit: UK will not cut taxes, says Philip Hammond
The UK will not cut tax and regulations after Brexit in a bid to undercut EU rivals, Philip Hammond has suggested. The chancellor told French newspaper Le Monde that tax raised as a percentage of the British economy “puts us right in the middle” of European countries. “We don’t want that to change, even after…
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Eurozone unemployment rate falls to 9.1%
The unemployment rate in the eurozone has fallen to its lowest since February 2009, according to the latest official figures. The rate dropped to 9.1% last month, from a downwardly revised 9.2% in May. Separately, inflation remained unchanged in July at 1.3%, according to a preliminary estimate from Eurostat, the European Union’s statistics office. However,…
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Snapchat’s moment of truth is here
Snapchat has seen much of its market value disappear since going public in March. Now the situation could go from bad to worse. Snap(SNAP), the parent company of Snapchat, fell as much as 5% in early trading Monday to a new low as some company insiders finally get the chance to cash out. The stock…
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Deutsche Bank seals deal with Land Securities for new London HQ
Deutsche Bank has exchanged a pre-let agreement for its new City of London headquarters, the building’s developer Land Securities said on Tuesday. The announcement confirmed details of the deal first reported in March, adding that under the 25-year lease agreement the German lender had committed to take a minimum of 469,000 square feet in the…