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Petrofac fears overdone with SFO fine limited to GBP1bn, recommends Kepler
Investors have overreacted to the Serious Fraud Office investigation into Petrofac, reckoned analysts at Kepler Cheuvreux, initiating coverage with a 'buy' rating even though it predicted a maximum cash fine of £1. 05bn.
Big losers and small majorities: Clegg loses his seat, Rudd holds on
Some big names lost their seats as members of parliament as a shock UK election result unfurled on Friday morning, including former Liberal Democrat leader Nick Clegg and several Conservative ministers.
UK's negative outlook remains - S&P Global
The UK's credit rating will not be affected by the hung parliament resulting from Theresa May's hapless snap election, credit agency S&P said on Friday, though it warned the possibility of a delay to Brexit negotiations and chances of yet another election meant it had a negative outlook.
Bank of England rate hike 'will be pushed back' by election result
After Theresa May's decision to call a snap election backfired with the Conservatives losing their parliamentary majority, the increased political uncertainty is likely to push back a first Bank of England interest rate hike to the first half of 2020, economists and strategists in the City said on Friday.
UK industrial production rebounds, but less than expected
UK industrial growth slowed in April as manufacturing activity bounced back slowly from a fall the previous month, the Office for National Statistics said on Friday.
UK public expects inflation to remain high for years to come - Bank of England
The British public expects inflation levels to remain high for at least the next two years, a Bank of England survey showed on Friday, though expectations of inflation in one year's time fell compared to opinions a month ago.
Friday newspaper headlines: Election reaction, Dodd-Frank, HSBC, Aramco
A humiliated Theresa May called today for a “period of stability” as she was urged to resign after her gamble on a snap election backfired. A hung parliament was inevitable after the Tories failed to win in Labour’s heartlands and lost ground in the south as voters rejected her appeal for a personal mandate to negotiate Brexit. - The Times.
Markets search for direction as election results in hung parliament
Financial markets were seeming to shrug off a shock UK general election result, with a hung parliament confirmed on Friday morning but the FTSE 100 looking to begin with a slight rise.
Genus' long-running legal battle with Sexing Technologies rumbles on
The long-running legal battle between animal genetics specialist Genus and US rival Sexing Technologies' owner Inguran rumbles on, with the UK company accused of infringing patents and breaching trade secrets.
Election result raises doubts over future of Brexit and May, UK stock futures untroubled
UK shares are likely to fall but not to crash heavily despite general election results pointing to an unexpected hung parliament on Friday morning and changing the picture on Brexit negotiations, with FTSE 100 futures pointing to a small 13- or 14-point fall at 0430 BST.
US close: Stocks inch higher after ex-FBI boss testifies in Russia hearing
US stock markets hit an all-time intraday high during a senate testimony where former FBI director James Comey gave evidence against President Donald Trump over alleged Russian interference in last year's election, though finished only modestly higher.