RBS, Nationwide and Tesco have been hit by an information technology failure at US payments company TSYS that left customers left unable to pay their credit card bills or access their accounts. The disruption highlight a challenging time for banks which are under pressure to improve their resilience to IT problems but often rely on…
The Colombian Agriculture and Fishing Institute (ICA) has confirmed the arrival of Panama TR4 disease, a soil-dwelling fungus that has devastated plantations in South-East Asia over the past 30 years. Now it threatens Cavendish banana which accounts for half of global production and 95 per cent of the world’s exports. The ICA has declared a…
Victor Li Tzar Kuoi, the Hong Kong billionaire and son of the LI Ka-Shing acquired Greene King in the midst of weak pound to strike a £4.6bn deal for the UK’s biggest listed pubs and brewery group. CK Asset Holdings, the property investment firm founded by Li Ka-Shing (91) and run by Victor, his son,…
The British Overseas Territory’s justice ministry said yesterday that it was “unable to seek” a court order to provide the “restraining assistance required by the US”. Gibraltar has formally rejected a US legal request to seize the Iranian tanker that has been at the center of a stand-off between Iran and the West. The Grace1…
Emiliano Sala (28) and his pilot was poisoned by carbon monoxide just before the plane he was in crashed into the Channel, it was revealed. Tests on the body found in the wreckage showed he had enough of the gas in his system to potentially knock him unconscious and induce a heart attack. The body David…
WeWork’s IPO would see the office-space provider becoming the latest private unicorn to go public in the face stormier markets and glooming economy. Executives are keen to complete the IPO while US stocks remain near record highs, as its rapid growth and balooning losses and heavy debts. The IPO doucments show the company had a…
Apple’s first foray into personal finance includes a white platinum bank card with 16-digit numbers. Apple actually wants people to pay for goods using Apple Pay via iPhone or Apple Watch. The card’s hardware is mostly irrelevant as Apple incentivises consumers not to use it, giving 1 per cent cashback on purchases made with the…
Vista Equity Partners is selling a 50 per cent stake in Advanced, a UK , Software company whose clients include British Gas, Virgin Atlantic and the NHS for around £2bn including debt to BC Partners which plans to grow the Slough based business by buying up smaller competitors. The deal comes in the midst of…
The Scottish government in Edinburgh has said it is “ready and willing” to take on the 116-year-old Ferguson Yard, the last remnant of the Clyde’s once huge civilian shipbuilding sector that is heading for administration. Derek Mackay, finance and economy secretary want to take Ferguson Yard to public ownership as soon as possible. Director of …
The world’s largest oil producer and crude oil exporter has agreed to take a 20 per cent stake of Reliance Industries, the Indian group’s refining and petrochemical business, one of the largest foreign investment in India, the fastest growing energy consumer in the world. “The deal, which values the business at £63bn ($75bn) including debt…