Mark Carney says he is willing to stay on as Bank of England governor September 4, 2018 Mark Carney today said he is willing to do whatever he can to promote a smooth Brexit process when asked if he will stay on as Bank of England governor. Carney said he is "not in a position" to make an announcement today, but said he expects the Treasury to make an announcement "in due [...]
AccorHotels scoops up Movenpick Hotels September 4, 2018 Ibis and Mercure owner AccorHotels announced today that it has completed its £430m takeover of Movenpick Hotels and Resorts, adding to its collection of recent luxury acquisitions. The French hotel giant paid €482m (£434m) for the 84 hotels which began life as an offshoot of the famous ice cream brand during the 1970s. It will enhance Accor's presence [...]
Deutsche Bank to be taken off Eurostoxx 50 blue-chip index September 4, 2018 Deutsche Bank will be removed from Europe's top index of blue-chip companies, after a challenging year deals the bank a new blow. Germany's largest lender will be demoted from the Eurostoxx 50 index on 24 September, the bank said in a statement this morning. Deutsche Bank's share price has lost nearly 38 per cent of [...]
There’s gold in them hills: Shares in Greatland Gold rocket after Australia find September 4, 2018 Shares in Aim-listed miner Greatland Gold shot up by nearly 18 per cent this morning after it announced a significant expansion in the size of its prospect in the Black Hills of Australia. In June the company began an exploration campaign in its 100 per cent owned Black Hills licence in Western Australia where it found [...]
Pret a Manger unveils £100m sales growth as coffee war heats up September 4, 2018 Sales at Pret a Manger grew by more than £100m in 2017 as the chain expanded globally and opened its 500th shop. Revenue soared by 13.2 per cent to £878.5m, driven by expansion into 58 new stores as well as strong like-for-like growth of 3.2 per cent. Read more: Coca-Cola moves for Costa coffee brand in £4bn [...]
Silver linings: Should investors look beyond gold for safe haven assets? September 4, 2018 When we think of a precious metal, it’s usually gold that springs to mind. While the yellow metal has a reputation for being a safe haven asset, far less attention is given to another valuable commodity: silver. Silver is often seen as gold’s poorer relation, but it still has qualities that give it “safe” status. [...]
If the FCA won’t regulate bad behaviour by banks such as RBS, then who will? September 4, 2018 This summer, the Financial Conduct Authority (FCA) confirmed that it would take no disciplinary action against Royal Bank of Scotland (RBS), despite its “widespread and systematic” mistreatment of SME customers at the hands of its restructuring arm GRG. This is disappointing, but it’s no surprise that the regulator is unable to do anything. The Senior [...]
Bricking it: Lego sales and profits fall on weaker dollar September 4, 2018 Lego was impacted by the weaker US dollar in the first half of 2018, reporting lower sales and profits today. The Danish toy company said it was pleased with performance given the challenges of the toy industry, and is now focused on stabilising the business. The figures Global consumer sales grew one per cent in [...]
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 [...]