Technology 

Former Apple lawyer charged with insider trading

Image copyright Getty Images US prosecutors have charged a former top Apple lawyer with insider trading. Gene Levoff is accused of using confidential information to trade the firm’s securities for personal gain. Mr Levoff, who was responsible for ensuring compliance with Apple’s insider trading policies, is accused of breaching those policies on several occasions. Apple fired him last year after being contacted by authorities and conducting an internal investigation. The US Securities Exchange Commission (SEC) said Mr Levoff engaged in insider trading various times between 2011 and 2016. “Levoff’s alleged…

Read More
Technology 

U.S. charges former top Apple lawyer with insider trading

(Reuters) – The former top corporate lawyer at Apple Inc was criminally charged by the U.S. Department of Justice on Wednesday with insider trading ahead of six of the iPhone maker’s quarterly earnings announcements. Authorities said Gene Levoff exploited his positions as corporate secretary, head of corporate law and co-chairman of a committee that reviewed draft copies of Apple’s financial results to trade illegally between 2011 and 2016. Prosecutors said Levoff, 45, of San Carlos, California, generated $604,000 in illegal gains, including realized profit and avoided losses before Apple terminated…

Read More
Top stories 

Energy firm ceases trading after ban

Energy supplier Economy Energy, which was recently banned from taking on new customers, has collapsed. The supply to its 235,000 domestic customers will continue, any credit they have will be protected, and a new supplier will take on their accounts. Regulator Ofgem said a new supplier would be appointed as soon as possible. On Friday, it had ordered the company to improve customer service. Economy Energy is the latest of a host of small suppliers to fold. Troubles Customers had spoken of problems with disputed account balances, the firm’s failure…

Read More
Top stories 

Apple shares down over 9% in US trading

Image copyright AFP Apple shares opened Thursday down more than 9% at $143 after chief executive Tim Cook blamed a slowdown in China sales for falling revenues. On Wednesday, the iPhone maker said it expected revenue of about $84bn (£67bn) for the last three months of 2018, down from a forecast of at least $89bn. The news depressed other US shares. An hour into trading the Dow Jones and the Nasdaq index were down more than 2%. Shares in fashion firm Burberry are down 5%. LVMH and Hermes were 2%…

Read More
Technology 

Trading startup Robinhood branches out into U.S. checking and savings accounts

NEW YORK (Reuters) – Commission-free trading startup Robinhood has launched U.S. checking and savings accounts that pay a 3 percent interest rate, broadening the suite of financial products it offers, the company said on Thursday. A photo illustration of Robinhood’s checking and savings accounts provided by Robinhood December 13, 2018. Robinhood/Handout via REUTERS The accounts, which come with a debit card, will require no minimum balance, will have no monthly fees or deposits requirements and no foreign transactions and overdraft fees, Robinhood said. The company, which is popular with young…

Read More
Technology 

As bitcoin trading shifts shape, big money stays away

LONDON (Reuters) – Bitcoin’s value has plunged by three-quarters this year, sending the original and biggest cryptocurrency back to levels not seen before its bubble. And price isn’t the only aspect of trading that has changed. FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/File Photo The retail investors behind bitcoin’s dizzying ascent to a record of nearly $20,000 last December have fled, leaving the early adopters and crypto-related firms that traditionally dominated digital coin trading driving exchange…

Read More
Technology 

Blockchain platform goes live for North Sea crude oil trading

LONDON (Reuters) – Oil majors and trading firms can start finalizing crude oil deals on a live blockchain-based platform for the first time, in a move that could revolutionize the market. FILE PHOTO: A BP logo is seen on a petrol station in London November 2, 2010. REUTERS/Suzanne Plunkett Commodities trading firms have piloted similar schemes in recent years as blockchain technology has the potential to drastically cut costs in an environment of razor-thin profit margins. London-based platform Vakt is the first of these to go live, with shareholder Gunvor…

Read More
Top stories 

Spark Energy Supply ceases trading

Image copyright Spark Energy An energy supply company with almost 300,000 customers has ceased trading. Spark Energy Supply is part of a gas and electricity firm which employs more than 300 staff at its Selkirk headquarters. The move comes after the company was handed a £14m bill by the energy regulator Ofgem for non-payment of its renewable power obligation. Another smaller supplier, Extra Energy, collapsed earlier this week for the same reason. Ofgem said the energy supply for Spark’s 290,000 customers would continue as normal. It advised customers to take…

Read More
Top stories 

Derby training firm referred to police after trading ceases

Image copyright Google Image caption Aspire Achieve Advance (3aaa) announced it had ceased trading on Thursday, wishing employers, apprentices and staff “all the best” A training provider has been referred to police after it announced it had ceased trading, with 500 jobs at risk. More than 3,000 Aspire Achieve Advance (3aaa) apprentices also face an unclear future after the firm’s Department for Education contract was axed. The department said it had referred its findings to police, through Action Fraud. 3aaa announced it had ceased trading on Thursday, wishing employers, apprentices…

Read More
Top stories 

Retailer Orla Kiely ceases trading

Image copyright Orla Kiely Image caption Orla Kiely has ceased trading British handbag and homeware retailer Orla Kiely has announced that it is closing its stores and website. Orla Kiely ceased to trade as of 17 September as its parent company, Kiely Rowan, has gone into administration. The retailer’s stores in London’s King’s Road and Seven Dials, and Kildare in Ireland, have closed. However, Orla Kiely Home and Design-branded accessories and homeware will continue to be sold through distribution partners. “Thank you for embracing our brand and designs throughout the…

Read More