Business News

G4S Confirms Departure of Chief Richard Morris

G4S-PLCG4S PLC has confirmed on Friday that its U. K. chief executive Richard Morris has resigned from the company. Eddie Ashton has been announced to be his replacement. Ashton is currently serving as chief operating officer of the security company.

The company revealed in a statement, "We can confirm that Eddie Ashton has been appointed CEO of G4S in the U. K. and Ireland following the resignation of Richard Morris".

UK’s Economy Recovers at its Fastest Pace

economyBritain's economy has been recovering at a much better pace now. The speed of recovery was reported to be brilliant between June and September. The economy is growing at a pace that is fastest in the last three years. The economy has also sought improvements in the GDP, increasing it by 0.7% in the April-June period, said Britain's Office for National Statistics said on Friday.

Live: Indian Stock Market Trades Marginally Lower; Deutsche Equities Positive on India

Indian Stock Market Trades Marginally Lower; Deutsche Equities Positive on India11.53 am IST: Indian Stock market was trading marginally lower on Friday as investors continued to book profit in stocks which have given good returns over past few trading sessions. The bank stocks witnessed bounce back and traders were seen selling PSU banks at higher level. Indian market is hovering around its all-time high and investors have become over cautious.

Co-Operative Bank to Boost its Overall Capital Provisions by around 100 Million Pounds

Co-Operative Bank to Boost its Overall Capital Provisions by around 100 Million PoundsIt was revealed by British lender Co-Operative Bank on Monday that it is looking forward to seek a boost in its overall capital provisions by around 100 million pounds. This will pave the path for the bank to meet revised expectations on redress payouts linked to the UK"s loan insurance miss-selling scandal.

Department of Energy to announce Prize for Investors

Department of Energy to announce Prize for InvestorsThe Department of Energy might come up with an announcement today that a definite award of £90-£95 a megawatt hour of energy produced is to be given to French and Chinese investors.

The investors would be those that are in the first nuclear power station of Britain in almost 20 years.

Gem Diamonds Witness Massive Jump in Shares after Sale of 2 Precious Diamonds

Gem-DiamondsA gigantic jump has been witnessed by Gem diamonds in its shares. Gem Diamonds has been able to sell two stones that they have extracted from the world's highest diamond mine, Letseng mine in Lesotho.

The news has led the company to witness a jump from 2.5p to 153.5p. The first stone was a unique and beautiful blue-colored diamond worth 12.47 carat. It has been sold at an auction in Antwerp for $7.5m.

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