Switzerland files criminal complaint over alleged use of crypto tech for US spying March 1, 2020 The Swiss government has filed a criminal complaint over the US Central Intelligence Agency (CIA) allegedly using a Swiss crypto company as a front to spy on foreign governments. The complaint is against unnamed persons for alleged breaches of the law governing export controls, Reuters reports. Swiss company Crypto AG was secretly owned by US [...]
Car shipping cartel to face UK class action March 1, 2020 Five shipping companies who ran a cartel for importing cars to the UK will face a class action lawsuit. MOL, “K” Line, NYK, WWL/EUKOR and CSAV are being sued for overcharging UK consumers and businesses. The European Commission ruled in 2018 they had breached competition rules by coordinating rates and capacity. Brussels imposed a €395m [...]
Oil prices drop again as coronavirus cases escalate February 28, 2020 Oil prices fell again today as the spread of the coronavirus cast uncertainty over the world economy. Oil prices saw further falls after an initial rally today after yesterday’s slump. A spike in the number of coronavirus cases dragged prices back down, along with the world’s stocks. Brent Crude plunged almost five per cent to [...]
Covid-19 chaos boosts Plus500 trading after torrid 2019 February 28, 2020 Plus500 today reported a significant increase in trading activity over its first quarter of 2020 as the coronavirus outbreak spurred traders to greater levels of activity. The trading platform’s shares soared almost 10 per cent to 958p after today’s trading update. Panic over the coronavirus outbreak has caused turmoil across the world economy, leading to [...]
Foxtons shares slip after profit takes Brexit blow February 28, 2020 Estate agent Foxtons has posted a 30 per cent drop in annual profit against the backdrop of last year’s Brexit uncertainty. Earnings before interest, tax, depreciation and amortisation (Ebitda) fell to £2.5m during 2019, a year-on-year decrease of 30 per cent from 2018’s £3.6m. The estate agent narrowed its loss before tax from £17.2m last [...]
Oil sinks to lowest price in a year as virus fears grow February 27, 2020 Oil prices today hit their lowest level since January last year as fears about the impact of the coronavirus on the world economy grew. Brent crude was down 4.3 per cent to $51.14 a barrel this afternoon as the virus continues its spread outside of China. Any impact on global consumption or manufacturing patterns will [...]
Hunting shares surge despite earnings slip February 27, 2020 Engineering group Hunting saw its shares jump almost 14 per cent to 331p by the close of trading in London this evening after it gave a “cautiously optimistic” lookahead for the year. The company, which makes equipment for the oil and fracking industry, credits its success with a strong balance sheet containing $40m (£31m) in [...]
Drax to cut jobs as it phases out coal next year February 27, 2020 Energy generator Drax said today it will stop burning coal in 2021, ahead of the government’s 2025 deadline. This was announced at the same time the company released its results for 2019. Earnings before interest, tax, depreciation and amortization (EBITDA) increased to £410m by the end of 2019, a 64 per cent year-on-year growth from [...]
Construction sector lobbies government for £225m ‘future-proofing’ institute February 27, 2020 Construction and engineering bosses are pushing the government to set up a new institute to promote the interests of the consultancy and engineering sector. In a letter to business minister Nadhim Zahawi, the 28 leaders of firms involved in national infrastructure seek government funding to develop the Consultancy Sector Futures Institute. The initiative is being [...]
Energy complaints only the tip of the iceberg February 27, 2020 The true scale of customer dissatisfaction with the energy sector has been significantly underestimated, according to a new survey. Research by consumer group Which said if every consumer with a grievance against their supplier complained, the number submitted would be around 6.9m. One reason for this figure is disillusioned customers do not want to make [...]
