Rio Tinto agrees to sell its Australian Coal & Allied unit to China’s Yancoal for $2.45bn January 24, 2017 Rio Tinto today agreed to sell its Australian Coal & Allied Industries subsidiary to China's Yancoal Australia for up to $2.45bn (£1.96bn). Rio's London-listed shares rose more than four per cent in early trading after it announced it was offloading its thermal coal business in New South Wales. “This sale delivers outstanding value for our shareholders and is [...]
How did the political world react to the Supreme Court’s Article 50 verdict? January 24, 2017 Prime Minister Theresa May's top lawyer has had his say on today's Supreme Court ruling, and Brexit secretary David Davis is due to make a statement to the House of Commons later today. But what about the rest of the political world? Read More: Live: Government loses Article 50 appeal Labour Labour leader Jeremy Corbyn said that his party will not [...]
EasyJet shares fall eight per cent: Analysts say European short-haul “dogfight” continues January 24, 2017 EasyJet was braced for a bumpy ride today as shares nosedived as much as 8.5 per cent this morning. The airline recorded passenger numbers on the rise for the first quarter – up 8.2 per cent, though revenue per seat fell 8.2 per cent at constant currency. And revenues were up 7.2 per cent. But – [...]
Government borrowing less than predicted putting it on track to undershoot deficit expectations January 24, 2017 UK borrowing was less than expected in December, boosting the government as it aims to eradicate the deficit in spending while avoiding an economic hit from Brexit. Borrowing to fund the deficit fell to £6.9bn in December, according the Office for National Statistics, putting it on track to undershoot the latest forecasts by the Office [...]
Attorney general “disappointed” with the Supreme Court’s Article 50 verdict January 24, 2017 The attorney general has confirmed the government will bring forward a bill to trigger Article 50 following today's Supreme Court ruling. The UK's highest court ruled today that MPs must be given a vote on the launch of Brexit talks. However, it also said the government did not have to gain the approval of the [...]
Analysts react to Dixons Carphone’s Christmas trading update January 24, 2017 Electronics retailer Dixons Carphone has reported its fifth year of Christmas sales growth, but market reaction was muted, with the company's share price falling more than three per cent in morning trading. Alistair Davies, analyst at Investec, said it was likely that Dixons Carphone had increased market share and improved its margins. There were availability issues around [...]
“Brexit-ready” Ireland sets out ambitions to seize financial services opportunities from UK January 24, 2017 The Irish government this morning set out its ambitions to assert itself and seize opportunities presented by Brexit. Speaking at an international financial services conference in Dublin, Prime Minister Enda Kenny declared the nation “Brexit-ready”. Kenny also said that he would seek to “negotiate hard and fair” as the UK prepares to leave the European [...]
Jet2 launches New York trips from Birmingham and Belfast among its winter schedule January 24, 2017 Jet2 is taking another bite of the Big Apple, after it announced plans to launch New York flights from Birmingham and Belfast International. The low-cost airline will now offer 30 direct trips to New York, up from 24, from seven airports. It is lining the trips up to coincide with Black Friday, the sales bonanza day, as [...]
Europe’s business hires at the fastest rate since financial crisis as activity measure shows healthy growth across region January 24, 2017 Employment in the Eurozone economy increased at its fastest rate since before the global financial crisis hit in 2008, as surveys of business activity showed healthy activity across the region to start the year. Germany’s powerhouse industry led the way, as activity in the manufacturing sector hit a three-year high. The German manufacturing purchasing managers’ [...]
Shares in Fever-Tree are sparkling as City analysts say the company has more room to grow January 24, 2017 Shares in posh tonic maker Fever-Tree shot up more than seven per cent in morning trading as the company's chief executive Tim Warrillow told City A.M. the brand is still “very early on” in its growth. The figures In a trading update the brand said its full-year like-for-like sales were expected to rise 75 per cent from the previous year, [...]