US and China extend talks as end to trade war nears February 23, 2019 The US and China have agreed to extend talks over a new trade deal in a sign that the two countries may be nearing an agreement. Chinese negotiators have agreed to stay in Washington to continue talks next week, it was announced on Friday. Chinese president Xi Jinpint said “progress” had been made in a statement [...]
Government departments spend more than £100m on Brexit consultant contracts February 23, 2019 The UK government has contracted outside help on Brexit in deals worth £107m since the 2016 EU referendum. The majority of that money has been spent on consultancy work, with more than £90m given to companies specialising in those services ahead of the UK’s exit from the European Union. There are six companies receiving contracts [...]
Opinion: Banning letting agent fees is a sweeping measure that wasn’t properly thought out and doesn’t get to the root of the problems February 22, 2019 Property is one of many industries that has fallen behind the times when it comes to accountability and transparency. In my view, one of the best ways to improve any industry is with carefully thought-out investment in regulation, especially in a world that increasingly demands accountability. The lettings industry needs this as much as any [...]
Acid spill near Glencore mine kills 20 February 22, 2019 A truck transporting acid to a mine owned by Glencore in the Congo has killed around 20 people after colliding with two minivans. The truck carrying sulphuric acid crashed with the vehicles around 31 miles from the Mutanda copper and cobalt mine in the Democratic Republic of Congo at 6pm on Wednesday evening, a spokesperson for [...]
Kraft Heinz share price plunges as SEC probe and losses spook Wall Street February 22, 2019 Consumer goods giant Kraft Heinz’s share price plunged almost 30 per cent this evening as a probe from US investigators and widening quarterly losses spooked investors. Shares in the company plummeted on Wall Street this afternoon as the firm wrote down the value of its Kraft and Oscar Mayer brands by $15bn (£11.5bn) and reported [...]
London house prices to fall three per cent after a no-deal Brexit February 22, 2019 House prices in London could dip three per cent after a no deal Brexit, new research has found. In the event of Britain and the EU failing to reach an agreement, housing prices in London could fall three per cent in the six months following the 29 March deadline, according to a Reuters poll out today. Read [...]
Interserve lenders to increase shareholders’ stake in £500m rescue plan February 22, 2019 Interserve lenders are set to increase the stake that shareholders would own in the company from 2.5 per cent to 5 per cent under new terms for the £500m rescue package. Lenders, which include hedge funds such as Angelo Gordon and Davidson Kempner as well as banks like RBS and HSBC, are discussing doubling equity owned [...]
Brands pull adverts from Youtube following allegations of child abuse content February 22, 2019 Nestle, Disney, AT&T, Hasbro and the creator of Fortnite have all reportedly pulled advertisements from Youtube following allegations of child abuse content being on the platform. A spokesperson for Nestle said that the food and drink conglomerate has decided to “pause advertising on Youtube globally” following the discovery that “an extremely low volume” of their [...]
Why Lloyds Banking Group pleased its City fan club February 22, 2019 | City Talk Our head of markets explains why the City reacted positively to these results despite a profits miss. Despite missing expectations at a pre-tax profit level, Lloyds Banking Group (LSE:LLOY) is not only in rude health but also has a clear vision on where next to take the business. The bank describes its own model as [...]
Ed Bramson’s Barclays board bid suffers double blow as investment banking unit outperforms European rivals February 22, 2019 Barclays executives doubled down on efforts to scupper activist investor Ed Bramson’s bid to join the board yesterday, armed with better-than-expected results in its investment banking unit. In a further blow for Bramson, who has called for Barclays to scale back its investment bank, one of his key allies in the City, Aviva, said his [...]