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PwC fined $5.8 million over audit of Redcentric

Britain's accounting watchdog said on Thursday it has fined PwC 4.55 million pounds ($5.8 million) over its auditing of IT services company Redcentric.



4 years ago

Is bitcoin growing up? Regulated futures boom as investors seek a safer ride

When bitcoin was born it was a symbol of counterculture, a rebel currency with near-anonymity and a lack of regulation. A decade later, there are growing signs it's entering the establishment its creators sought to subvert.



4 years ago

India's Jet Airways plunges as bourse moves to limit speculative trading

Shares of Jet Airways sunk over 23% to a record low on Thursday after India's largest stock exchange said the carrier would soon no longer be traded in the derivatives market, while day-trading in the stock would also be barred, in a bid to curb speculative trading in the troubled company.



4 years ago

Sweden's Saab backs out of Swiss fighter jet test flights

Saab will not test its Gripen fighter jet this month in Switzerland, the Swedish company said on Thursday, after the Swiss defense procurement agency recommended against it on grounds the plane would not be operationally ready in 2019.



4 years ago

BMW affirms target to hike sales as China drives May deliveries

German luxury carmaker BMW affirmed its target to increase sales this year after group sales rose by 3.2% in May year-on-year, driven by strong demand from mainland China.



4 years ago

France's Le Maire says he will meet Renault chairman on Thursday

French Finance Minister Bruno Le Maire said on Thursday he would meet Renault chairman Jean-Dominique Senard later in the day and reiterated that a merger with Fiat Chrysler remained an interesting option for Renault.



4 years ago

Alibaba files for Hong Kong listing: source

Chinese e-commerce giant Alibaba Group Holding Ltd has filed confidentially for a Hong Kong listing, according to one source familiar with the matter.



4 years ago

Lockheed Martin says cost cut plan for F-35 jets ahead of schedule

Lockheed Martin said on Thursday it was on track to cut the cost of its F-35 fighter jet A variant to $80 million per jet a year ahead of its original target of 2020.



4 years ago

Packager DS Smith says stocking up on spare parts ahead of Brexit

Packaging products maker DS Smith Plc said on Thursday that it had made plans for contingency stocking of spare parts as it readies for Britain's planned exit from the European Union, but expected disruption to its operations to be "relatively contained".



4 years ago

Britain's PwC fined $5.8 million over audit of Redcentric

Britain's accounting watchdog said on Thursday it had fined PwC 4.55 million pounds ($5.8 million) for failing to challenge management at IT services company Redcentric where a 20 million pound hole was later found in the books.



4 years ago

France's Le Maire to meet Renault chairman, says Nissan alliance priority

French Finance Minister Bruno Le Maire said on Thursday a Fiat Chrysler-Renault merger remained an "interesting opportunity" but added he would tell the French carmaker's chairman that strengthening the Renault-Nissan alliance was the priority.



4 years ago

Tesco's sales growth slows in subdued UK market

Tesco, Britain's biggest retailer, said sales growth slowed in its latest quarter, blaming a subdued overall market that has been hampered by poor early summer weather, sending its shares lower on Thursday.



4 years ago

Hong Kong leads Asian stocks lower, oil fragile at five-month lows

Asian shares slumped on Thursday as the Hong Kong market was hit for the second straight session following a day of massive street protests, while oil prices flirted with five-month lows due to higher U.S. crude inventories and a bleak demand outlook.



4 years ago

Alibaba files to list in Hong Kong as soon as third quarter: source

Chinese e-commerce giant Alibaba Group Holding Ltd has filed confidentially for a Hong Kong listing that will take place as soon as the third quarter of this year, a person with direct knowledge of the matter told Reuters.



4 years ago

China's 'Gen Z' shoppers fuelling luxury market momentum: Bain

Chinese "Gen Z" shoppers in their early 20s are emerging as an increasingly powerful force in the luxury industry as brands try and tap into buoyant demand for high-end goods in the world's second-biggest economy, consultancy Bain said on Thursday.



4 years ago