Petrofac chief fined £550k

THE Italian securities watchdog has accused Petrofac’s boss of making £278,000 through insider trading. Ayman Asfari, 59, bet on a share price fall at rival Saipem in 2012, hours before its boss resigned.

Asfari, who denies wrongdoing, cashed in two days later and has been ordered to pay £550,000.