NCA investigates Arron Banks and Leave.EU over alleged referendum offences November 1, 2018 The National Crime Agency is investigating Arron Banks and the Leave.EU campaign for alleged electoral law offences during the 2016 EU referendum. The Electoral Commission referred both Banks and another senior campaigner, Elizabeth Bilney, to the NCA. “Our investigation relates to suspected electoral law offences covered by that referral, as well as any associated offences,” [...]
Danske shares surge despite new Danish investigation and steep fall in profits November 1, 2018 Danske Bank’s shares rose steeply this morning despite profits plunging a massive 42 per cent in the third quarter off the back of a money-laundering scandal. The news comes as Danish authorities announced a separate investigation into the bank's role in a tax-avoidance scheme. The figures The company’s profit before tax took a major hit, [...]
Swiss Re records $1bn profit despite losses from hurricanes and typhoons November 1, 2018 Reinsurer Swiss Re said it had recorded a profit of $1.1bn (£850m) for the first nine months of the year, despite an expected $1.6bn claims burden from man-made and natural catastrophes. Last year at the same period it suffered a $468m loss from the impacts of major disasters. Gross premiums roses 6.5 per cent to $28.4bn [...]
Just Eat warns on profits as it burns cash to compete with rivals November 1, 2018 Online takeaway giant Just Eat's share price climbed this morning, despite a warning to investors that efforts to fight off rivals Deliveroo and Uber Eats would take a chunk out of the company's profits. Branching out into markets in Latin America, investing in its own delivery network and acquisitions are likely to weigh on earnings, the FTSE [...]
Bank of England’s monetary policy committee keeps interest rates unchanged November 1, 2018 The Bank of England's monetary policy committee has decided to keep interest rates unchanged as expected. The rate-setting committee, which raised rates to 0.75 per cent in August, unanimously voted to hold its monetary policy following a meeting on Thursday, meeting the predictions of economists. The MPC signalled that an "ongoing tightening of monetary policy" may be [...]
Insurer Lancashire pays special dividend despite catastrophe losses November 1, 2018 Insurer Lancashire is returning $40m (£31m) to shareholders via a $0.20 per share special dividend despite recording a third quarter loss, it said today. Lancashire warned last month that it could be hit by catastrophe losses of $25m to $45m from recent hurricanes and typhoons. This led to a negative return on equity (ROE) of [...]
Chairman Luke Johnson reveals Patisserie Valerie was three hours away from collapse as frustrated investors vote on rescue deal November 1, 2018 Investors approved a rescue deal to save Patisserie Valerie today but were left frustrated over unanswered questions as chairman Luke Johnson warned that the company could face administration within a week if the proposals were voted down. The cake shop was just three hours away from collapse before a rescue deal was arranged last month, Johnson revealed, as shareholders [...]
Carpetright remains under pressure as store closures mean like-for-like sales ‘remain negative’ November 1, 2018 Low sales have forced British retailer Carpetright to close 67 stores in the first half of the year, it said today. The FTSE 250 firm closed those that failed to reach sale targets, with six further retail sites expected to shut shop by the end of 2018, the company told investors today. Carpetright did not share sales [...]
UK manufacturing orders fall for first time since aftermath of Brexit referendum and growth slows November 1, 2018 New orders and employment in the UK manufacturing sector have dropped for the first time since July 2016 in a “worrying turnaround” in October. Conditions in the sector “slowed sharply” as output growth weakened and new order inflows and employment declined for the first time since the aftermath of the EU referendum, according to the [...]
Corbyn’s tipping tirade lays bare his anti-business agenda November 1, 2018 Jeremy Corbyn has had another brainwave. The Labour leader wants to make it illegal for businesses to “pocket” tips and optional service charges. Some restaurants and hospitality firms currently collectivise what we add to our bills or give to waiters and waitresses. They might directly pool tips to redistribute them through a common fund system [...]