European factory ‘summer slump’ continues through August September 2, 2019 European factory activity stagnated further in August, as a gloomy spell for companies was extended by a continued fall in demand. Manufacturing output fell for the seventh month in a row, according to IHS Markit’s Purchasing Managers’ Index (PMI), a closely-followed measure of sector activity. Economists recorded a PMI score of 47, where anything below [...]
Ally quits Neil Woodford’s namesake trust in latest blow for troubled fund manager September 2, 2019 A senior figure is stepping down from one of the largest investment trusts managed by Neil Woodford, as the embattled stockpicker’s current woes continue to cause ripples across his network. Steven Harris is to resign from the board of Woodford Patient Capital Trust (WPCT), a major investment portfolio currently run by under-fire investor Neil Woodford. [...]
UK manufacturing activity plunges to seven-year low as economic slowdown bites September 2, 2019 UK manufacturing output crashed to a seven-year low in August as Brexit doubts intensify and a wider economic slowdown hurts firms, according to a closely followed measure of sector activity. Manufacturing output plunged to its worst level since 2012 last month, according to IHS Markit’s Purchasing Managers’ Index (PMI). Read more: Toyota to halt production [...]
Volkswagen retains access to US public sector contracts after dieselgate probe September 2, 2019 Volkswagen will reportedly still be allowed to bid for public sector contracts in the US, after concerns a watchdog probe into its diesel emissions cheating scandal may result in a ban. Instead of being excluded, Volkswagen will be made to install a second US monitor at its Wolfsburg headquarters in Germany, after an investigation by [...]
Dechra Pharmaceuticals hikes dividend but braces itself for no-deal Brexit September 2, 2019 Veterinary drugs maker Dechra Pharmaceuticals has steeled itself for a possible no-deal Brexit by shifting ownership of UK marketing authorisations to a new arm in the Netherlands. Dechra has also moved all its analytical testing methods for products created at its Skipton site in the UK to a new laboratory in Zagreb, Croatia as well [...]
The next dimension – bringing 3D advertising graphics to the masses September 2, 2019 What’s the most visually stunning advert you can think of? Perhaps it’s one of the John Lewis Christmas campaigns, or maybe it’s an ad by Apple or Samsung that shows their phones in incredible detail as they float across the screen. Whatever you imagined, it was likely made using computer-generated imagery (CGI), or other 3D [...]
Britain must try to sail beyond the Brexit debate in order to find the stars September 2, 2019 Sadly, many of the great quotations in history are simply not accurate. One of my favourite apocryphal quotes is (wrongly) credited to Sir Francis Drake, supposedly written just before the intrepid explorer set off on the Golden Hind on his dazzling circumnavigation of the globe. Drake is supposed to have said: “Disturb us, Lord, when [...]
As others look inward, the City is keeping its eye on the world September 2, 2019 Domestic and international politics, as well as the latest developments in the Brexit saga, are set to dominate the headlines in the coming weeks and months. While we cannot simply put the Brexit question to one side, we must remember that it is just one – admittedly important – part of a bigger picture: the [...]
City Moves for 2 September – Who’s switching jobs at Kemp Little, Wesleyan and Cluttons? September 2, 2019 Today’s City Moves includes Kemp Little, Wesleyan and Cluttons. Kemp Little Technology and digital media law firm Kemp Little has announced that Farina Azam has joined the firm as a partner and travel lead, in the firm’s commercial technology team. Farina is a travel law expert specialising in regulatory advice and commercial and consumer contracts [...]
Investigations into wealthy individuals boost tax coffers September 2, 2019 Taxes collected from investigations into wealthy individuals soared to a record high in the last year, with leaks from the Panama Papers and new global data sharing agreements boosting Britain’s Treasury coffers. HMRC’s yield from probes into wealthy individuals jumped 58 per cent to a record £1.9bn in 2018/19, according to new research from law [...]