Britain’s Financial Conduct Authority has fined Lloyds Bank 64 million pounds ($81.26 million) for failures in handling hundreds of thousands of mortgage customers in difficulties or arrears.
Shares in Sorrento (SRNE) are rallying 17% in Thursday’s pre-market trading after the company announced that an Application for Emergency Use Authorization (EUA) is under review at the US FDA for is Covid-19 diagnostic test kit.Its COVI-TRACK in vitro diagnostic test kit enables the independent detection of IgG and IgM antibodies in sera of patients exposed to the SARS-CoV-2 virus.The rapid antibody test allows for results to be available in eight minutes or less. It reveals whether someone has been exposed to or potentially had coronavirus, and subsequently created antibodies to combat the infection.Analytical validation was performed by testing sample …read more […]
Boeing Co. (BA) is facing another setback as the U.S. Air Force has delayed by four years a decision on whether its $44 billion KC-46 tanker program should be approved for full-rate production.According to a Bloomberg report, the U.S. Air Force will announce a decision in July to September of 2024. It was previously planned for this September.The decision comes as Boeing, who is the contractor of the program since 2011, is trying to show it has fixed the flawed camera system used for the plane’s midair refueling mission.The Pentagon’s testing office seeks to postpone completion of ongoing combat testing …read more […]
Credit-rating firm S&P Global Ratings on Thursday questioned SoftBank Group Corp’s financial discipline as the tech conglomerate pursues a massive 2.5 trillion yen ($24 billion) share buyback program in volatile markets.
Unilever proposed collapsing its Anglo-Dutch legal structure into a single holding company based in Britain on Thursday, nearly two years after shareholders sank an earlier plan to move its headquarters to the Netherlands.
Renault ‘s partnership with Japan’s Nissan has entered an “incredibly positive” phase after episodes of strained relations in recent years, the French carmaker’s chairman Jean-Dominique Senard said on Thursday.
Just Eat Takeaway’s proposed $6 billion takeover of Grubhub to create a trans-Atlantic giant that could thwart Uber’s food delivery ambitions has raised concerns among some analysts about the pace of the European company’s expansion.
British Airways will sell at least 10 works of art from its extensive collection, a source said, to try to raise millions of pounds to boost its cash reserves as it struggles through the coronavirus pandemic.
World shares took their biggest tumble in five weeks on Thursday as a sobering outlook from the U.S. Federal Reserve challenged market optimism on the global economy, while bonds rallied on bets yet more stimulus would be needed to ensure recovery.
Unilever proposed combining its Dutch and British legal entities in a single holding company based in Britain on Thursday, after shareholders sank an earlier plan to move the global consumer goods group’s headquarters to the Netherlands.
Unilever’s decision to base the company solely in Britain and not in the Netherlands represented a vote of confidence in the country, said British business minister Alok Sharma.
China and the United States should resume timely communication on trade and other issues, a former senior Chinese official said on Thursday, who stressed that the world’s two largest economies are too intertwined to be decoupled.
(Bloomberg) — Losses picked up in U.S. stock index futures after the Federal Reserve signaled that the path to economic recovery will be long and as worries over a second wave of coronavirus infections grew.June contracts on the S&P 500 fell 1.6% as of 8:28 a.m. in London, extending earlier declines. Those on Dow Jones Industrial Average dropped 2%.In Europe, the benchmark Stoxx 600 Index slumped 2.7%, with all subgroup gauges dropping and the losses led by shares of travel companies and banks.Fed Chairman Jerome Powell Chair indicated on Wednesday the central bank will keep providing stimulus into the U.S. …read more […]
Finnish telecoms equipment maker Nokia named a new finance chief on Thursday, completing an overhaul of its top executive team as it battles rivals Ericsson and Huawei [HWT.UL] for work on lucrative 5G networks.
Finnish telecoms network maker Nokia said on Thursday it has appointed Marco Wiren as chief financial officer following changes of its chairman and chief executive this year.
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