Labour’s ineptitude is an insult to democracy November 22, 2018 How incompetent does an opposition party need to be in order to turn the Prime Minister’s worst week in office to its own disadvantage? Laugh if you will at the hyperbole, but consider the facts. Since revealing her deal last Wednesday, Theresa May has faced cabinet resignations, attempted coups, and wall-to-wall condemnation from all fronts. [...]
Nationwide profits fall as technology investment cuts into bottom line November 22, 2018 Profits fell by a fifth at Nationwide in its half-year results today, with the building society’s technology investment weighing down earnings. The figures Profit before tax tumbled 17.8 per cent to £516m for the six months to the end of September, compared to the same period in 2017, as it took a £135m charge for asset [...]
DEBATE: As shares continue to tumble, could this be the beginning of the end for Apple? November 22, 2018 As shares continue to tumble, could this be the beginning of the end for Apple? Fiona Cincotta, senior market analyst at City Index, says YES. The easy money momentum trade on Apple looks to be well and truly over. As Apple heads into bear market territory and innovations are lacking, the future is looking less rosy for [...]
From Brexit to Brino: The 10 capitulations of Theresa May November 22, 2018 Flashback to the early hours of Friday 24 June 2016. Imagine that BBC anchorman David Dimbleby looks to the camera and says: “Brexit will look like this. These will be its 10 defining features. These will be the 10 capitulations.” First, Brexit will necessitate the UK remaining in the customs union (or something very much like [...]
Deal or no deal, fintech will remain the jewel in the UK’s economic crown November 22, 2018 In some ways, the causes of both globalisation and the fintech boom have much in common. Both phenomena have been driven by previously unthought-of technological advances, innovation, and increasingly open markets. So if, as has been argued, the UK referendum was the first case of a major democracy voting against the impact of globalisation, does [...]
Mitie profits fall as post-Carillion business costs mount November 22, 2018 Profits at outsourcing firm Mitie have fallen over the last six months in the wake of Carillion's collapse, despite selling off several of its divisions and reporting a rise in revenue. Its share price fell more than three per cent as markets opened this morning. The figures Revenue rose four per cent to £1.04bn in the [...]
How Brexit could help mortgage prisoners break free November 22, 2018 In the years leading up to the 2008 financial crisis, lenders were dishing out large mortgages and asking for tiny deposits in return. Property values were rapidly outpacing wage growth, and buyers were being allowed to borrow eight times their annual salary. For many homeowners, the problems started after the crash when the regulators forced [...]
Greater government powers over takeover deals could be used for political purposes, critics warn November 21, 2018 Leading investors, trade bodies, lawyers and banks have criticised proposals to give the government greater powers to intervene in mergers and acquisitions (M&A), raising concerns that new rules could be exploited for political purposes. The proposals would give officials greater scope to scrutinise deals on security grounds. A senior minister could call-in any merger, acquisition or [...]
UK’s customs system would not work properly for two years in no-deal Brexit, MPs told November 21, 2018 A 'no deal' Brexit would see the UK without a fully functioning customs system for two years, MPs were told on Wednesday. Senior officials from HM Revenue & Customs told the Treasury committee the moment to start planning for the talks collapsing passed months ago" in a sobering warning. MPs heard the UK would struggle [...]
Johnson Matthey shares jump as clean air tech the catalyst for profit boost November 21, 2018 Chemical technology company Johnson Matthey’s share price rose by 14.3 per cent today after it posted a strong rise in profit in its half year results. The company, which develops emissions control technologies such as catalytic converters, reported double digit year-on-year growth across several key metrics and said it expected its full year performance to [...]