Federal Reserve’s Janet Yellen sets course for rate rises if economy continues to perform well February 14, 2017 The US dollar jumped in value as Federal Reserve chair Janet Yellen told Congress a delay in raising interest rates could be “unwise” if the US economy continues to perform well, despite uncertainty around the outlook. However, Yellen said it was “too early” to know what policies US President Donald Trump’s administration would follow or [...]
Almost half of financial advisers think Mifid II will hurt the industry, but a similar proportion aren’t sure what it will mean for them February 14, 2017 Almost half of financial advisers are worried a tougher set of rules for the sector, which are due to come into force in less than a year, will hurt their industry, but a similar proportion also still don't know what it will mean for their own business. Financial firms will have to comply with the [...]
T-Mobile adds 8m US customers for third year in a row and beats market expectations February 14, 2017 T-Mobile, the third largest mobile phone operator in the US, today beat market expectations with "rock-solid" full-year results. The firm said it had added a total of 2.1m customers in the final three months of the year, taking the total number of new customers to 8.2m in 2016. Read more: Vodafone sells Dutch broadband operations [...]
Russia’s Aeroflot trumps American heavyweights as the world’s most powerful airline brand February 14, 2017 Forget Emirates, American Airlines and British Airways. When it comes to the world's most powerful airline brand, another name has taken the crown. According to Brand Finance, which recently announced its annual Global 500 list featuring Lego, Google and co., Russian carrier Aeroflot is the world's most powerful airline brand. It carries an AAA brand rating [...]
Beleaguered Greek economy shrinks at end of 2016 as government hires Rothschild to advise on debt load February 14, 2017 The Greek economy shrank in the last three months of 2016, heaping more misery on the beleaguered country as it attempts to avoid a government default. Greece’s GDP fell by 0.4 per cent in the final quarter, according to the Hellenic Statistical Authority, a steep fall from growth of 0.9 per cent in the three [...]
Pendragon’s boss thinks the others will ultimately agree with his forecasts despite shares falling on full-year figures February 14, 2017 Shares in Pendragon, the UK's largest car dealership, today fell by two per cent – having dropped over five per cent earlier in the day – after the firm revealed its full-year figures. But the FTSE 250 firm's boss steadfastly stuck to his predication that car sales would not fall during 2017. The figures Sales of new cars [...]
Ukip leader Paul Nuttall admits Hillsborough claims were false February 14, 2017 The leader of Ukip has admitted that he did not lose “close friends” in the Hillsborough disaster, despite claims of having done so in his own website. The personal site of Paul Nuttall, who is running to become Ukip's second MP in the Stoke-on-Trent by-election, has featured articles authored under the MEP's name which have attacked the government's handling of the tragedy. In [...]
BT Openreach’s final board line-up is structurally flawed, says TalkTalk’s Dido Harding February 14, 2017 Openreach today revealed its final board line-up in a push to prove its independence from parent BT, only for the move to be branded "meaningless" by TalkTalk. LIz Benison, a high ranking executive at Serco, will take her place as a non-exec alongside chairman Mike McTighe, Edward Astle and Sir Brendan Barber. Openreach said the appointment means independent [...]
EDF pledges to increase cash flow to fund Hinkley Point nuclear reactor February 14, 2017 French state-owned utility firm EDF today said a drop in nuclear production hit its core earnings for 2016. However, it said it will deliver positive cash flow next year before it has to invest in building new reactors in Britain. The figures The energy giant's core earnings fell 6.7 per cent to €16.41bn (£13.98bn), while sales dropped [...]
Xafinity wants to take on the big boys with its London IPO February 14, 2017 The £190m float of a mid-tier actuarial and consulting firm will help it break the stranglehold of the largest three market players, its boss said today. Xafinity announced plans earlier this morning for a London listing and intends to make an official admission to the exchange on Thursday. Paul Cuff, the company's co-chief executive, told City A.M. he hopes the [...]