Standard Life shares muted despite beating expectations with nine per cent profit growth February 24, 2017 Standard Life's share price was somewhat muted this morning despite beating expectations with a nine per cent increase in profits. Shares in the firm initially jumped before falling by 3.5 per cent by midday. The figures Fee based revenue grew by five per cent to £1.7bn and assets under management swelled – up 16 per cent to £357bn. [...]
RBS has slashed its bonus pool after disappointing results February 24, 2017 Royal Bank of Scotland (RBS) bankers are in for a disappointing bonus season, after the lender said it had cut its bonus pool by eight per cent. The company said today it had cut its bonus pool from £373m in 2015 to £343m last year. Over 93 per cent of the pool will be paid [...]
Britain exported more gin than ever last year, generating nearly half a billion pounds February 24, 2017 The results are in: British gin smashed its export record in 2016, official figures have shown. Research by HM Revenue and Customs suggest the UK fuelled the world's gin craze last year, exporting more gin than ever last year, selling booze worth £474m, up 12 per cent from 2015. If current trends continue, exports of gin will hit the [...]
Morgan Stanley may move 300 UK jobs to Frankfurt or Dublin February 24, 2017 American investment bank Morgan Stanley could move 300 jobs out of the United Kingdom after Brexit and is already looking for new office space in Frankfurt and Dublin, according to reports. Plans are underway for an initial transfer of jobs to one of the two cities Bloomberg said. A spokesman for Morgan Stanley told City AM: “Our [...]
5G to come to central London in 2017: New routers could spell the end of fixed line broadband February 24, 2017 5G networks will be trialled in central London later this year with telecoms infrastructure firm Arqiva teaming up with boffins at Samsung to develop the new technology. Britain is in the process of dragging itself into the 21st century by developing the country’s fixed line superfast fibre access. But fixed access 5G points to be tested by Samsung [...]
Keep fit after January: Here are five of the best lunchtime-length runs around the City February 24, 2017 After all the enthusiasm and zeal of January, you can be forgiven if your commitment to those New Year’s resolutions are slacking a little by now. Time to shake-up your routine? The people at The Color Run UK have compiled a list of the best lunchtime runs in the Square Mile exclusively for City A.M. [...]
Here’s what analysts are saying about Pearson’s full-year results after a “challenging” year February 24, 2017 Pearson did its best to prepare investors for today’s full-year results with a January trading update. The former Financial Times publisher’s share price jumped up at the open, before falling slightly later in the morning. Read more: Pearson lays bare 2016 results after "challenging year" Here is what analysts are making of the figures… The [...]
German central bank chief renews efforts to woo British banks – and questions the “sanity” of Brexit negotiations February 24, 2017 “Sanity” will not be the main principle of negotiations over Brexit, according to an influential central banker, as he renewed efforts to woo British-based banks to move to Europe. Andreas Dombret, an executive board member at the German Bundesbank, said political considerations will override economic concerns in a speech delivered in London at the consultancy [...]
William Hill reveals encouraging signs after a year to forget in 2016 February 24, 2017 William Hill put on a brave face on its full-year performance this morning with the firm's share price rising nearly one per cent after the bookmaker delivered figures that were in line its revised guidance. The figures Net revenue was up one per cent to £1.6bn but adjusted operating profits dived 10 per cent to £262m. [...]
Electoral Commission opens investigation into spending of EU referendum campaigns February 24, 2017 The UK Electoral Commission has launched an investigation into the spending of the Leave and Remain campaigns ahead of last year's EU referendum. Figures released last year showed a 52 to 48 per cent split between Leave and Remain in EU referendum donations. The Electoral Commission today published details of more than £27m of campaign spending, [...]