The European Commission has fined Credit Agricole, HSBC and JP Morgan Chase a total of 485 million euros ($520 million) for their alleged participation in a cartel to manipulate the price of the Euribor financial benchmark. The Commission said on Wednesday they were part of a seven-bank cartel that colluded between September 2005 and May 2008 to distort the Euribor interest rate which was set using quotes submitted by a panel of banks and is widely used in international money markets. Ben Kumar, Investment Manager at Seven Investment Management, joined Share Radio to discuss.
Tata Steel has made a commitment to secure jobs and production at Port Talbot and other steelworks across the UK, unions have said. It could bring an end to eight months of uncertainty for thousands of workers who faced losing their jobs when Tata's UK business was put up for sale. Community Union made the announcement following talks with Tata and other unions Unite and GMB on Wednesday. But workers still have to agree to it and will be balloted in the new year. Councillor Anthony Taylor, former worker at the Port Talbot steel plant, joined Share Radio to discuss the deal.
China's foreign exchange reserves fell far more than expected in November to the lowest level in nearly six years, as authorities struggled to stem capital outflows and shore up a sliding currency. And yet China has just reported pretty upbeat trade figures, with exports and imports both beating forecasts. David Kuo, CEO of the Motley Fool in Singapore, joined Share Radio to discuss China trade data.
Alex Lydall, Senior 360 FX dealer at corporate forex broker Foenix Partners, joined Share Radio to give his market view on the Italian Referendum, Non-Farm payrolls and discuss what we should expect in the week ahead.
New data reveals Foreign Investment into the UK boomed in 2015 - but what does this mean in the context of Post-Brexit Britain? The figures published by the Office for National Statistics last week, shows that net flows of Investment to the UK from foreign sources rose to over 21 billion dollars in 2015, compared to just 15 billion in 2014. But will the UK be able to maintain this level of foreign investment, or will the EU Referendum scare the offshore cash away? To find out more, Share Radio's Matt Cox spoke to Adrian Lowcock, Investment Director of Architas.
UK financial firms are reportedly looking to relocate to Dublin following the Brexit vote with the Irish central bank reporting a sharp increase in the number of inquiries from UK-based firms. Other European cities including Frankfurt and Paris are also trying to grab UK firms which are worried about losing passporting rights which grants them the right to operate across the continent. Earlier Share Radio's Robert Van Egghen spoke to Barnabas Reynolds, head of the global financial institutions advisory & financial regulatory group at law firm Shearman & Sterling. In a new report Reynolds argues that there are other models for UK firms to follow, which offer advantages that passporting does not have.
Paul Sedgwick, Barnabas Reynolds, Robert Van Egghen
Train fares in Britain will go up by 2.3%, on average, from January the 2nd. The Rail Delivery Group says the vast majority of the cash gets pumped back in to running services. But campaign groups say some passengers are "finding themselves priced off the railways". Tony Miles, Contributing Editor from Rail Business Intelligence, joined Share Radio Breakfast to offer his reaction.
Applications from foreign workers who want to work in the UK tech industry have increased tenfold over the last year. It's after the government decided to relax the rules, allowing groups of coders to apply as a group rather than run the risk of being rejected individually. Tech City UK, the organisation that processes the visa applications, says applications had spiked since the Brexit referendum. James Brydges asked Oliver Smith, tech reporter at the Memo, and Megan Caywood, Chief Platform Officer at Starling bank, about what had been driving the demand.
On this day in 2001, the American energy giant Enron filed for bankruptcy. Enron took accounting fraud to a whole new level, and its demise even led to the disintegration of its accountants Arthur Andersen. Its collapse was the worst business failure in US corporate history to date. Matt Cox has been investigating the causes and consequences of the fall, and the lessons we’ve learnt over a decade and a half later.
On Sunday, Italy holds a referendum. Prime Minister Matteo Renzi wants the power to streamline the country's creaking political system, reducing the power of upper house senators from blocking what he sees as essential economic reforms. But many are predicting he will lose. The worry for the markets is that a large protest vote could give the populist Five Star movement enough momentum to put Italy on a slippery slope to leave the Euro currency zone, plunging Europe into a fresh political and financial crisis. Dijedon 'Doni' Imeri is a country risk analyst for IHS Markit and he joined Share Radio Breakfast.