Higher energy prices drive Eurozone inflation to hit two per cent for the first time in four years March 2, 2017 Eurozone inflation hit two per cent in February, beating the European Central Bank (ECB)’s target for the first time since January 2013. The year-on-year rate of inflation rose from 1.8 per cent in January according to flash estimates from the European Commission. The sharp rise over the months since November has mainly been driven by the [...]
Leaving the EU without a deal would bring significant tariff and regulatory barriers to trade, the CBI is set to warn at Mansion House March 2, 2017 The CBI has warned that leaving the EU without a deal and reverting to World Trade Organisation (WTO) rules would open a pandora’s box of economic consequences, hurting firms on both sides of the Channel. In a speech this evening to the Lord Mayor’s business and investment dinner at Mansion House, CBI president, Paul Drechsler, [...]
Capita chief executive falls on his sword as profits drop by a third March 2, 2017 Shares in troubled outsourcing giant Capita fell today after its chief executive, Andy Parker, stepped down – and profits fell by a third. Shares were down 7.9 per cent at 520.1p in late morning trading after the company, which administers the London congestion charge and TV licencing among many other things, said today Parker will step down later this year, [...]
Up to 30 Tory MPs will join the Article 50 Bill rebellion on EU nationals, according to a peer March 2, 2017 Up to 30 Conservative MPs could join together to force the government to defend the rights of EU nationals, according to one member of the House of Lords, The Lords last night forced an amendment on to the Article 50 Bill on the topic, handing Prime Minister Theresa May her first parliamentary defeat on Brexit. [...]
AB InBev’s shares dip as lower sales in Brazil hit core earnings March 2, 2017 Anheuser-Busch InBev (AB InBev)'s shares edged down today as the firm reported its first drop in core earnings since its formation more than a decade ago due to lower than expected sales in Brazil. The figures The world's largest brewer said earnings before interest, tax, depreciation and amortisation (Ebitda) fell 0.1 per cent in 2016 to $16.75bn [...]
Here’s how we build P2P firms that actually service the poor March 2, 2017 Is payday lender Wonga the only alternative finance business that actually addressed credit demand among poor people? A regulatory crackdown on the industry has pushed the most disadvantaged in this country towards hire purchase firms, where they “buy” something on credit, sell it on almost immediately to obtain ready cash, then end up paying back [...]
Wizz Air passenger numbers are flying after airline announced new UK base at London Luton last month March 2, 2017 Low-cost Hungarian carrier Wizz Air has announced a bumper rise in passenger numbers for last month. Passenger numbers rose 21.8 per cent to 1.7m compared to the same month last year, while load factor, gauging how full the planes are, rose from 86.4 per cent in February 2016 to 91.9 per cent. On a rolling 12 [...]
Growth in the UK’s construction industry was stronger than expected in February – but housebuilding floundered March 2, 2017 Growth in the UK's construction sector was stronger than expected in February, figures published today showed – but housebuilding struggled. Markit's purchasing managers' index for the sector rose to 52.5 in February, up from 52.2 in January – and beating forecasts it would stay flat. Any figure below 50 denotes a contraction. However, activity in the residential [...]
Getting Brexit ready? German rail operator revives plans for high-speed London to Frankfurt trains March 2, 2017 Express trains from London to Frankfurt might be on the agenda sooner than you'd think. High-speed trains from the capital to Germany's financial centre could be launched as early as 2020 in a move that would help the UK solidify links to mainland Europe in the wake of Brexit. According to The Times, the German rail [...]
Well-heeled: Jimmy Choo posts confident full-year figures as profit jumps March 2, 2017 Luxury shoe maker Jimmy Choo posted a confident set of full-year results today, fresh from dressing stars at the Oscars. The figures For the full year ending 31 December, Jimmy Choo's revenue grew at 1.6 per cent constant currency, and 14.5 per cent in reported currency, up from £317.9m in 2015 to £364m last year. [...]