Lehman Brothers 10 years on September 4, 2018 | City Talk It’s hard to believe that it’s almost ten years since financial markets globally underwent a cardiac arrest that brought the world economy to its knees. Financial markets had already been on a slow downward slope in the lead up to events in September 2008, over concerns about the stability of the global financial system that [...]
Business expense fraudsters are burgling from the boardroom’s bottom line September 4, 2018 Running a business costs money. That may sound simple – and in many ways, it is. From paying staff to keeping the lights on, some costs are all part of the never-ending challenge of running a business. But when it comes to employee expenses, things are rarely simple. With wide-ranging rules and limits often being [...]
Value of inward UK M&A deals falls by £15.8bn September 4, 2018 The value of mergers and acquisitions (M&A) of UK companies by foreign businesses fell by £15.8bn between April and June this year. The drop, from £22.3bn to £6.5bn, reflected the absence of high-value transactions that were seen in previous periods, the Office for National Statistics (ONS) said. Read more: Petrol station merger could drive up fuel prices, [...]
Construction sector faces renewed slowdown in August as infrastructure projects lag September 4, 2018 Activity in the British construction sector slowed in August as housebuilders and civil engineering firms held back from projects, according to a bellwether survey of the industry. Expansion in the sector waned to a three-month low, with IHS Markit's purchasing managers' index (PMI) today retreating to a reading of 52.9 points, from a strong 14-month [...]
Gaming retailer Green Man prepares for £100m float as it targets ‘aggressive’ international expansion September 4, 2018 Online video game retailer Green Man Gaming has announced plans to float on the London Stock Exchange in order to “aggressively” expand into international markets. The company, which sells games for a number of consoles, including Sony PlayStation and Nintendo Switch, plans to list on the Alternative Investment Market (AIM) later this month with a [...]
Tory voters snub Chequers deal as Brexiter MPs flex their muscles ahead of party conference September 4, 2018 Conservative voters continue to be unimpressed with Theresa May's vision for Brexit, with a new poll suggesting the Chequers plan has actually lost support over the summer. ConHome's latest survey of its readers found that just 23 per cent of members thought the proposals being touted across the capitals of the European Union over the [...]
Ryanair cancelled 550 flights in August September 4, 2018 Budget airline Ryanair cancelled 550 flights last month, which affected more than 100,000 customers, figures released today show. A 24-hour pilot strike over pay and conditions took place across Ireland, Germany, Sweden, Belgium and the Netherlands on 10 August, grounding 396 flights. Read more: Niki Lauda-founded Laudamotion to double Airbus fleet The low-cost carrier also said [...]
McColl’s sales still impacted by Palmer & Harvey collapse September 4, 2018 Sales at convenience retailer McColl's have struggled to pick up for another quarter as the company still grapples with the collapse of wholesaler Palmer & Harvey. The figures Total revenue in the 13 weeks to 26 August was up 0.6 per cent, but like-for-like sales slipped 0.9 per cent due to continued supply chain disruption. [...]
Labour activist in antisemitism row Peter Willsman reelected to NEC despite Momentum removing #JC9 backing September 4, 2018 A Labour activist who rubbished claims of antisemitism within the party, arguing the allegations were being made by "Trump fanatics", has been re-elected to the national executive body after a ballot of members. Peter Willsman had originally been backed by Momentum as part of the grassroots organisation's #JC9 (Jeremy Corbyn) slate of candidates, but the group removed its backing amid [...]
ING ordered to pay £700m to settle money laundering case September 4, 2018 Dutch bank ING has been ordered to pay €775m (£698.15m) to settle a money laundering case. The bank failed to carry out due diligence and allowed the "structural infringement" of the Netherlands' Money Laundering and Terrorist Financing Act between 2010 and 2016, according to the prosecution. Read more: Business losses from employee corporate fraud double on last year [...]