Virgin Money increases profits, as Brexit yet to wobble the business February 28, 2017 Virgin Money said profits grew during 2016, as any Brexit fallout was yet to hit the challenger's bottom line. The figures The bank, whose business ambition is to make "everyone better off", reported statutory profits before tax of £194.4m, up 41 per cent compared with £138m in 2015. The increase in underlying profits before tax was [...]
Greggs hikes dividend as healthy food sales help boost profits February 28, 2017 Greggs has reported a jump in sales for last year, and has hiked its dividend after growing profits – but the baker is looking at job cuts as it aims for greater supply chain efficiency. The figures Total sales rose seven per cent to £894.2m from £835.7m, while company-managed like-for-like sales (which excludes franchises) went up [...]
Human Rights Issues and Your Portfolio February 28, 2017 | City Talk We would rather not think about human rights issues when it comes to asset allocation. In the developed world, we often treat human rights violations — modern-day slavery, child labour, etc. — as anachronisms, at least as far they concern us. Or we dismiss them as problems for someone else to deal with, whether activists, [...]
Why it matters if the public has lost faith in government economic forecasts post-Brexit February 28, 2017 As chancellor Philip Hammond and US President Donald Trump begin work on their respective budgets, speculation is rife about changes to spending plans and taxes. Will there be significant infrastructure investment? How fast will government spending be cut, if at all? Underpinning all these decisions lies a modelling assumption with arguably much more significance than any [...]
The costs of running a business in London are starting to outweigh the benefits February 28, 2017 The late, great Robin Williams once said: “Spring is nature’s way of saying, ‘Let’s party’.” When the chancellor stands up to deliver the last ever Spring Budget next week, however, small businesses in London are likely to be putting party plans on hold unless Philip Hammond can pull the miraculous business rates “rabbit out of the [...]
Carmakers must embrace Big Tech to survive the coming revolution February 28, 2017 Merger plans for Europe’s car manufacturers have dominated headlines in recent weeks, not least because of the threat they pose to UK and wider European car jobs. Combine this with Brexit jitters and concerns about overcapacity, and you might view our industry with a “glass half empty” attitude. And this is even before you contemplate [...]
MPs have warned keeping the pensions triple lock means no one will retire until they’re 70 February 28, 2017 The state pension age may need to rise beyond the life expectancy of some of the UK's poorest places in order to be compatible with retaining the “triple lock” on payments, MPs have today warned. In a report published this morning, parliament's Work and Pensions Committee warned keeping the policy will push the pension age to [...]
Out-Trumping Trump: How one company is getting more towers than Donald Trump February 28, 2017 Want to have as many tower blocks named after you as Donald Trump without having to build any of them? Forbes, the American business magazine publisher, has come up with a plan. The privately-owned company added property to its other three strategic pillars of print and digital media and branding back in 2013, with a plan to [...]
The British Chambers of Commerce is demanding more Brexit certainty from the government February 28, 2017 British businesses have demanded the government give more Brexit certainty in a blueprint published today. The British Chambers of Commerce has stated that EU member states will remain a key partner for UK firms, adding it is “imperative” that a new deal facilitates trade. The BCC warned that negotiations should be extended if trade talks cannot [...]
The capital needs Crossrail 2 and Heathrow expansion to continue to compete globally, say London businesses February 28, 2017 Crossrail 2, Heathrow's third runway and East London river crossings will all be crucial to the capital's continued ability to compete on the global stage, London businesses have said. According to the latest CBI/CBRE London business survey, 84 per cent of firms in the capital see Crossrail 2 as being central to the city's successful expansion, [...]