UK financial system ready for no-deal Brexit but EU faces risks due to ‘lack of action’, Bank of England warns March 5, 2019 The UK’s financial system is prepared for a no-deal Brexit but EU businesses and households could be at risk due to a “lack of action” from Brussels, according to the Bank of England. The Bank said the UK’s banking system was strong enough to deal with the economic shock of leaving the EU without a [...]
Shares in Go Compare jump as insurance entrepreneur Sir Peter Wood ups stake March 5, 2019 Shares in Go Compare jumped more than six per cent this morning on the news that British entrepreneur Sir Peter Wood had increased his holding in the price comparison website. Go Compare chairman Wood, who founded Direct Line, Esure and Sheilas’ Wheels, increased his shareholding in the company from 25.6 per cent to 29.9 per cent, [...]
Bumper Persimmon fails to shake off uncertainty March 5, 2019 | City Talk Despite the housebuilder's £1 billion profit and generous dividend, Persimmon shares are under a cloud. Just when investors thought it was safe to go back into mortar, the government's reported review of the Help to Buy scheme has dealt another blow to the sector. Persimmon (LSE:PSN) 6% share price decline represented the brunt of the blow, [...]
Interserve shares soar as it ‘considers’ rescue deal demands from lead shareholder March 5, 2019 Shares in debt-laden outsourcer Interserve surged 27 per cent on Tuesday morning on the news it was considering a counter-proposal on its controversial rescue deal made by its biggest shareholder. The alternative plan was put forward on Monday afternoon by Coltrane Asset Management, a US hedge fund which owns 27.7 per cent of Interserve. It demands [...]
Thinking about taking on an apprentice? National Apprenticeship Week is a good time to start March 5, 2019 One of the great things about my job as a minister is hearing from employers about the positive impact that apprentices have had on their businesses. Employers often talk about the energy and enthusiasm that apprentices bring to the workplace. And they are not just talking about young people either, but apprentices of all ages [...]
Ashtead investors tread carefully as net debt rises at industrial equipment rental firm March 5, 2019 Shares in industrial equipment giant Ashtead group fell two per cent on Tuesday morning as it announced ballooning net debt in its third-quarter update. The firm, which rents out heavy machinery, did however increase revenue by one-fifth and maintained its expectations of full-year results later in 2019. Read more: Ashtead bullish on beating full-year expectations [...]
Aldi sales soar as Sainsbury’s slips behind rivals in supermarket shopping league March 5, 2019 Aldi and Lidl have boosted sales again, it emerged today, as the biggest supermarkets continued to shed market share to the discounters. Aldi’s sales grew by 10 per cent in the three months to the end of February compared to the same period the year before, according to figures released today by Kantar Worldpanel, a consumer insights [...]
UK services sector set for weakest quarter since 2012 amid Brexit uncertainty March 5, 2019 The UK services sector look set for its weakest quarter since 2012 as a subdued start to the year continued last month. Business activity expanded marginally in February but new work fell for a second consecutive month, according to the widely-regarded IHS Markit / CIPS purchasing managers’ index (PMI). Employment numbers also declined at the [...]
Financial Conduct Authority confirms rent-to-own price cap implementation March 5, 2019 A price cap on the cost of buying household goods through rent-to-own deals will be introduced next month, the City watchdog has confirmed. The Financial Conduct Authority (FCA), which announced a crackdown on the sector in November last year, has set a price cap of 100 per cent on the interest customers can be charged in a move [...]
Long haul: Bombardier aircraft breaks record for furthest ever flight in a business jet March 5, 2019 Business jets are more frequently associated with luxurious furnishings, gourmet cuisine and eye-watering price tags than intrepid attempts to push the limits of travel. But passengers on one Canadian-built aeroplane were popping the champagne corks yesterday because of just that, after setting a new world record for the longest ever flight by a business jet. Read [...]