21 December

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London stocks sink as new coronavirus strain shuts UK

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By Shivani Kumaresan (Reuters) -UK blue-chip stocks fell to a near three-week low on Monday as a fast-spreading new strain of the coronavirus prompted tougher restrictions, while a fresh ban on travellers from Britain hammered airline and oil stocks. The FTSE 100 touched its lowest since Dec. 2 in early trading, but clawed back some of its losses to trade down 1.2%...

21 December

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Tesla Drops 4.5% in First Day of Trading on the S&P 500 Index

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(Bloomberg) -- Tesla (NASDAQ:TSLA) Inc. shares fell 4.5% in premarket trading on Monday as the electric vehicle maker marks its trading debut on the S&P 500 Index. Its shares have catapulted 731% this year in anticipation of the historic inclusion, making it the biggest company ever to be added to the benchmark. The EV pioneer will also be joining the S&P 100, replacing...

21 December

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Sacklers cited fear of OxyContin lawsuits before transferring $10 billion from their company, documents show

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By Mike Spector, Chad Terhune and Lisa Girion NEW YORK (Reuters) - Members of the wealthy Sackler family, owners of OxyContin maker Purdue Pharma LP, have long denied that the $10 billion they transferred from their company over the course of a decade was an unlawful attempt to shield assets in anticipation of litigation over their role in the opioid crisis. But a review of emails,...

21 December

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UK’s Boohoo appoints PKF Littlejohn as new auditor

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(Reuters) - British online fashion retailer Boohoo Group Plc said on Monday its board had approved appointing PKF Littlejohn as the group's auditor with immediate effect, replacing PwC which had been in the role for around seven years. The company had said in October that PwC would not compete to be the new auditor, as Boohoo rejigged its corporate governance apparatus following...

21 December

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Arcadia administrators sell Evans brand to Australia’s City Chic

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LONDON (Reuters) - Deloitte, the administrators of collapsed British fashion group Arcadia Group, said on Monday it has agreed the sale of its Evans brand, e-commerce and wholesale business to City Chic Collective Limited for 23 million pounds ($31 million). Evans is the first Arcadia brand to be sold. The deal excludes the Evans store network. Deloitte said the stores will continue...

21 December

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Shell writes down up to $4.5 billion in oil and gas assets

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By Ron Bousso LONDON (Reuters) -Royal Dutch Shell (LON:RDSa) on Monday it will write down $3.5 to $4.5 billion in the value of oil and gas assets in 2021, the latest in a string of impairments this year as it adjusts to a weaker outlook. In an update ahead of its fourth-quarter results, the Anglo-Dutch company said it expects oil and gas production...

21 December

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Australia Sees Higher Iron Ore Earnings on China-Fueled Boom

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(Bloomberg) -- Australia upgraded its forecast for earnings from mining and energy exports in the 2021 financial year as booming iron ore prices boost the coffers of the world’s top producer. Export sales are seen at A$279 billion ($212 billion) in the year to June 30, 2021, up about 9% on the previous forecast in September, the government’s Department of Industry, Science, Energy...

21 December

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Australia regulator chief Sims says Google and Facebook draft laws fair, critical for media future

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By Jane Wardell SYDNEY (Reuters) - Australian Competition and Consumer Commission Chairman (ACCC) Rod Sims said proposed laws that will make Australia the first country in the world to force Google (NASDAQ:GOOGL) and Facebook (NASDAQ:FB) to pay for news were fair and critical for the survival of the media industry. Sims said he was surprised to hear criticisms from Google about the...

21 December

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Congress Strikes Deal on $900 Billion Pandemic Relief Plan

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(Bloomberg) -- Congressional leaders reached a deal on roughly $900 billion spending package to bolster the U.S. economy amid the continued spread of the coronavirus, giving lawmakers a short timetable to review and pass what would be one of the biggest economic-rescue measures in the nation’s history. Senate Majority Leader Mitch McConnell, House Speaker...

21 December

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Brexit Talks to Continue Tomorrow Amid ‘Significant Differences’

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(Bloomberg) -- Negotiations between the U.K. and European Union over a post-Brexit trade deal are expected to continue tomorrow, according to a U.K. official. The talks remain difficult with “significant differences” between the two sides, said the official. The biggest obstacles to an accord remain fishing and state aid. Earlier on Sunday, David Frost,...

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News

London stocks sink as new coronavirus strain shuts UK

Tesla Drops 4.5% in First Day of Trading on the S&P 500 Index

Sacklers cited fear of OxyContin lawsuits before transferring $10 billion from their company, documents show

UK’s Boohoo appoints PKF Littlejohn as new auditor

Arcadia administrators sell Evans brand to Australia’s City Chic

Shell writes down up to $4.5 billion in oil and gas assets

Australia Sees Higher Iron Ore Earnings on China-Fueled Boom

Australia regulator chief Sims says Google and Facebook draft laws fair, critical for media future

Congress Strikes Deal on $900 Billion Pandemic Relief Plan

Brexit Talks to Continue Tomorrow Amid ‘Significant Differences’

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