Shares slide as Moody’s downgrades its outlook on Italian banks December 14, 2016 An index of Italian banking stocks recovered slightly following a slide in early trading, after one of the world's largest ratings agencies downgraded its outlook on the country's largest lenders. The FTSE Italia All-Share Banks index fell as much as 1.5 per cent in early trading, before just managing to turn positive later in the morning, after [...]
Southern rail strike chaos: Acas talks get underway in bid to bring an end to industrial action December 14, 2016 Commuters are hoping talks today will lead to the cancellation of another train drivers' strike on Southern rail services scheduled for Friday. A 48-hour walkout over driver only operated trains continues to cause havoc as it entered the second day of no services. Talks are being held this morning between the rail company and train drivers' union [...]
Boohoo’s share price surges as it picks up a two-thirds stake in PrettyLittleThing for £3.3m December 14, 2016 No tears over here: Boohoo's just acquired a majority stake in fellow online retailer PrettyLittleThing for £3.3m. Boohoo's chairman Peter Williams said PrettyLittleThing was a "natural fit" and would complement Boohoo's "inclusive and innovative" brand. We are delighted to add this fast growing, international business to the group. We believe this is an excellent opportunity to [...]
There may be trouble ahead: Dixons Carphone shares fall as it prepares for “uncertain times” December 14, 2016 Shares in Dixons Carphone fell 4.6 per cent in early trading after it said it was steeling itself for "uncertain times" in the months ahead. The figures Revenues in the six months to the end of October increased four per cent on a like-for-like basis to £4.9bn, it said in a statement today. Profit before tax [...]
City Tube station Mansion House closed this morning amid Southern strike chaos December 14, 2016 Mansion House Tube station in the City is closed this morning due to an absence of staff, affecting District and Circle Line services. https://twitter.com/districtline/status/808823708018212864 Meanwhile, Temple station is also shut for the same reason. https://twitter.com/districtline/status/808823525607874560 The Tube disruption follows yesterday's chaos at a number of the capital's busiest stations, and comes as the latest round [...]
Greggs is now making the food on-the-go sector appetising – here’s how December 14, 2016 The food on-the-go market is set to grow over the next year; a new YouGov report on the industry indicates how brands can capitalise on this potential. One brand – Greggs – is showing the way. The food on-the-go industry is worth billions, and is set to grow further in the coming years. Our new [...]
Wells Fargo growth to be capped after failing key contagion test by US regulators December 14, 2016 US banking giant Wells Fargo has been slapped with restrictions on growing its business by US authorities after failing a key "living will" test. Regulators announced overnight the San Francisco bank had failed the test for the second time this year. The living will rules are supposed to satisfy authorities contingency plans are in place for a controlled wind-down [...]
Osborne looks to carve out a post-Treasury role December 14, 2016 Days after losing his job as chancellor, George Osborne spoke to a City audience in the Guildhall. He was delivering the annual Thatcher Lecture and set out the areas that he felt defined his legacy: economic recovery, the Northern Powerhouse and the pursuit of social reform. He also took the opportunity to reassert a belief [...]
UK Christmas travellers will fork out £1bn this year, and the cost of holidays is on the rise for 2017 December 14, 2016 More than a million Brits are set to jet off over the Christmas period this year, spending £1.03bn altogether despite holiday prices being on the rise. The average Christmas traveller will spend £757.43, but a quarter will spend between £1,001 and £2,000, research from Direct Line Travel Insurance suggests. The top destinations among travellers this year were Spain (19 per cent), [...]
News industry contributes £5bn to UK economy, but is at risk of being “fatally undermined” by digital giants December 14, 2016 The news media industry contributes more than £5bn to the UK economy, according to a new report out today. But the sector is at risk of being “fatally undermined” by digital giants that benefit from its content without contributing to the costs. The study by Deloitte, commissioned by the News Media Association (NMA) and published today, [...]