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Three men arrested for City insider trading investigation
Financial regulator warns City firms of the danger posed by organised criminal groups that seek to manipulate markets. It has revealed it made three arrests as part of a "major" operation.
The Financial Conduct Authority announced that…
US Porsche, Bentley, and Audi imports are held up due to banned Chinese parts
A supplier of parent company Volkswagen discovered a Chinese component in Porsche, Bentley, and Audi vehicles that violated laws against forced labour.
Two people who are familiar with the situation say that the automaker is delaying the…
Glencore shutters nickel mine
Glencore has stopped its Koniambo Nickel project in New Caledonia after investing $4 billion since 2013 without making a profit.
The FTSE-100 miner and commodities dealer said that it would cease operations on the South Pacific island…
Yodel is saved from going into administration by a deal arranged by Shift, a rival.
The logistics company of the Barclay family has been merged into the startup that purchased Tuffnells from administration last year.
Yodel is one of Britain's largest parcels delivery services. It will combine with Shift to exit the…
Fujitsu executives have received £37m in compensation since the company won Post Office contract
It has been revealed that the executives at Fujitsu collected around £37m as compensation, bonuses, and pay since they won the contract for the supply of the software at the center of the Post Office Horizon scam.
Accounting records…
EY has taken on debt of $700mn for the doomed Project Everest spin-off.
EY piled more than $700mn of extra debt on to its global operating business to deal with the costs of the failed plan to spin off its consulting arm, according to newly filed accounts.
The figures, made public at the UK’s Companies House…
Evri owners prepare parcel delivery group for a £2bn Sale
Private equity owners are preparing Evri for a massive £2 billion sale, just two years after saddling it with debt and grabbing a £762million dividend.
Advent International, an American buyout company, is working with Rothschild advisers…
Unilever increases prices to combat cost of living crunch
As the cost of living continues to rise, shoppers are turning away from Unilever brands of ice-creams, condiments, and bleaches. They prefer supermarkets own-brand products.
Unilever acknowledged that only a third (of the brands) of…
Oxford friends share eight-figure payouts when Americans buy their company
A technology company powered by AI founded by three Oxford University grads will be acquired by a US group, making at least 12 of its employees millionaires.
Entrust, an American payments and data security company, has acquired Onfido of…
Sainsbury’s continues its evolution with the mantra ‘Food First’
Industry experts have described the new Sainsbury’s strategy as "more evolution rather than revolution".
Simon Roberts has reiterated that he wants to "put food at the center" of his business. He will expand on the "food first" plan that…
Adam Neumann wants to save WeWork from bankruptcy
Adam Neumann claims to have Wall Street backing in order to purchase WeWork from bankruptcy. He was fired after accruing billions of dollar losses.
Neumann's lawyers sent a letter on Monday to WeWork saying that he had "partnered" with…
Three new sites help weight-loss injection maker reduce supply problems
The Danish company behind the weight-loss injection Wegovy, has agreed to buy three manufacturing facilities for $11 billion in order to increase production due to a surge of demand.
Novo Nordisk will acquire the facilities in a…
Iran used Lloyds and Santander to evade sanctions
Iran used two of Britain's largest banks to move money covertly around the globe as part of an extensive sanctions-evasion plan backed by Tehran’s intelligence services.
Documents show that Lloyds and Santander UK opened accounts for…
Fears about the US commercial real estate market resurface after bank losses
The mounting losses of banks in Asia, Europe and the US have reignited concerns about the weakness in the US Commercial Property Market, which has been under pressure due to lower occupancy rates and higher interest rate.
The regional US…
Shell announces a $3.5 billion buyback despite declining profits
Shell announced plans to buyback another $3.5 billion in its shares, after its fourth-quarter profit exceeded expectations. This was helped by an "exceptional performance" by its gas trading division.
The company's profits dropped from…
Vodafone rejects merger bid of €10.5 billion by French billionaire
Vodafone rejected an offer from billionaire telecoms tycoon Xavier Niel for a €10.5bn deal (£9bn).
Last month Mr Niel's Iliad Group proposed to combine their Italian business . They argued that the move would build scale on a market…
Amer Sports, the apparel manufacturer of Arc’teryx, considers IPO prices below range
Amer Sports, the owner of Arc'teryx clothing brand, is expected to raise less than it hoped for in its largest US initial public offer since October. This is the latest indication that investors are cautious amid a tentative return in the…
CD&R’s Morrisons sold petrol forecourts for £2.5bn to sister company MFG
Wm Morrison, a private equity-owned UK supermarket chain, has reached a £2.5bn agreement to sell its petrol forecourts to Motor Fuel Group. This will help Morrisons to improve its balance sheet.
Clayton, Dubilier & Rice, a US-based…