Tandem Bank takes in £15m from Convoy in Hong Kong expansion November 20, 2018 Fintech challenger bank Tandem has today closed a strategic partnership with Convoy Global Holdings, a Hong Kong-based financial services group which will make the London startup one of the first digital banks to launch in the city. Convoy is investing an initial £15m into Tandem Bank as part of the deal, which will provide Tandem with [...]
Supreme Court rejects UK government appeal against Brexit reversal case November 20, 2018 The UK’s Supreme Court today rejected the government’s bid to prevent the possibility of its Brexit decision being reversed. The failure of the government’s appeal means the European Court of Justice (ECJ) will go ahead and hear the case of whether Article 50 can be reversed on 27 November. The court will hear the case [...]
Twitter picks a man named John Lewis as the star of its new Christmas advert November 20, 2018 Every year, a man named John Lewis in Virginia receives over 50,000 tweets intended for UK department store John Lewis and Partners. This year, he's been made the star of Twitter's Christmas advert. Lewis secured the Twitter username @JohnLewis in 2007, and has become known for his witty responses to people who confuse him for [...]
White House admits defeat in CNN battle but outlines new rules for journalists November 20, 2018 The White House has issued new rules for reporters as it backed down in a row with CNN and reinstated the press pass of journalist Jim Acosta. In a letter sent to Acosta yesterday the White House outlined new guidelines saying reporters may only ask a single-question at press conferences, and follow-ups will only be [...]
Shares jump as caterer Compass points north despite pressures from UK business November 20, 2018 Shares in Compass Group have jumped up this morning after the company showed good revenue and profits for the full year. The figures The caterer’s underlying revenues rose 5.5 per cent to £23.24bn in the 12 months to October, it said. Meanwhile a 2.3 per cent rise profit before tax jumped to 7.3 per cent [...]
Online trader Plus500’s shares rise as 2018 results expected to top estimates November 20, 2018 Online trader Plus500 has predicted better-than-expected results at the end of the year, building on an upbeat third quarter trading report last month. In a trading update ahead of its results for the financial year ending 31 December 2018, Plus500’s board said the “strong momentum” reported in its 23 October report had carried through to [...]
PPI claims surge against CYBG to push bank to a £145m loss November 20, 2018 Clydesdale Bank owner CYBG's share price fell more than 13 per cent today as a fresh raft of PPI claims pushed it to a £145m loss in its full-year results. The figures CYBG fell to the £145m loss after taking a £352m hit for PPI costs and £44m for other legacy conduct issues. A Financial Conduct [...]
Big Yellow storage targets ‘aggressive’ expansion with new London stores announced November 20, 2018 Self storage company Big Yellow reported an increase in revenue today following investment in new capacity as the group targets “aggressive” expansion. Revenue for the six months to the end of September was £62.2m, a boost of seven per cent, while adjusted profit before tax rose nine per cent to £33.3m. However, statutory profit before tax [...]
Easyjet flies in the face of Brexit worries as profits and bookings soar November 20, 2018 Low-cost airline Easyjet remains positive about its 2019 outlook as rising profits and revenues for the year to the end of September defied Brexit concerns and rising costs. The figures Pre-tax profit rose 41.4 per cent to £578m and revenues were up 16.8 per cent to £5.9bn. The airline raised its dividend to 58.6p subject to [...]
British home electricals retailer AO shares slide as it gears up for Brexit November 20, 2018 UK online electronics retailer AO World has scraped back some of its losses in the first six months of this year, targeting European profitability despite market challenges. The company's share price tumbled almost 15 per cent in early trading this morning. The figures Overall revenue across the UK and Europe rose almost 10 per cent [...]