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BR Shetty resigns from NMC Health amid crisis, Anglo American Platinum chief steps down

By Josh White

Date: Monday 17 Feb 2020

(Sharecast News) - London open

The FTSE 100 is expected to open 32 points higher on Monday, having closed down 0.58% at 7,409.13 on Friday.
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Indian billionaire BR Shetty has resigned as a director and co-chair of Middle East healthcare firm NMC Health as the crisis from the unreported share transaction scandal at the company deepened. Chief investment officer Hani Buttikhi and non-executive director Abdulrahman Basaddiq also quit given their connections to Shetty and other major shareholders who had appointed them to the board. Mark Tompkins will continue as the sole chairman, the company said in a statement on Monday.

Anglo American announced on Monday that Anglo American Platinum's chief executive officer Chris Griffith had informed the bard of his intention to step down as both CEP and as an executive director after more than seven years. The FTSE 100 firm said it came after his decision to pursue other career opportunities. It said Griffith would step down at the annual general meeting on 16 April, and his successor - who was expected to be an internal candidate from within the Anglo American group - would be announced in the near future.

Newspaper round-up

France has warned that talks between Britain and the EU over a future trade deal will turn nasty. Jean-Yves Le Drian, the French foreign minister, said that the negotiators were likely to rip each other apart, with the two sides expected to fight particularly hard over fishing rights. - The Times

The new Chancellor has been urged to immediately suspend a huge tax shake-up for self-employed workers after being warned it will cause "enormous damage" to contractors and the wider economy. Businesses are planning to cut off contractors or delay work while a third of self-employed workers will stop freelancing amid widespread confusion over complying with the new IR35 rules, according to industry bodies. - Telegraph

The pub chain JD Wetherspoon is brushing up its "ethical" credentials by serving up only Fairtrade sugar in all its pubs and hotels in the UK and Ireland. The sugar - packaged in "sticks" and stamped with the familiar blue and green Fairtrade logo - will appear in its 874 pubs and 58 hotels in the UK and Ireland later this month at the start of the annual Fairtrade Fortnight. - Guardian

Officials at British ports lack enough resources to handle an escalation in the coronavirus crisis and operators have not been given enough guidance to prepare, industry leaders have warned. Ministers are facing calls to provide health authorities at key sites with urgent help. - The Times

US close

Stocks on Wall Street closed mixed on Friday, with the Dow Jones Industrial Average ending the day down 0.09% at 23,398.08.

The S&P 500, on the other hand, was up 0.18% at 3,380.16, and the Nasdaq Composite was 0.2% higher at 9,731.18.


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