HSBC boss Stuart Gulliver says jobs will be moving out of London to Paris January 18, 2017 We've already heard a lot about HSBC's plans to move jobs to France if Brexit negotiations don't go as the bank hopes. But yesterday Stuart Gulliver, the lender's chief executive, confirmed it is looking at moving jobs accounting for a hefty chunk of its revenues across the Channel. In an interview with Bloomberg at Davos, Gulliver [...]
The Brexit transition period could extend beyond the next election January 18, 2017 Post-Brexit transition measures could be in place until after the next General Election, Brexit secretary David Davis has said. Yesterday, Theresa May committed to a "phased" introduction for a new trading relationship with Europe, but today Davis stressed while such a process "won't be very long", it could last until 2021. May will launch two years [...]
Game Digital shares drop after sales fall and cash burn January 18, 2017 Shares in Game Digital flopped over three per cent this morning after the firm revealed "tough" trading in the UK had hit sales. The figures Like many other retailers, Game focuses on its gross transactional value (GTV): effectively the value of sales before any discounts are applied. Reporting its half-year numbers to the end of December, Game [...]
Higher inflation boosts ECB hawks’ case for tightening ahead of monetary policy meeting January 18, 2017 Inflation in the Eurozone rose sharply in December, the European Commission has confirmed, adding further to pressure on the European Central Bank (ECB) to begin withdrawing its historically expansive monetary policy support on Thursday. Consumer prices across the bloc increased by 1.1 per cent, a steep rise from the 0.6 per cent growth recorded the [...]
Cabbies are demonstrating at Bank again today – but only for half an hour January 18, 2017 Black cab drivers will stage another protest at Bank junction this afternoon – but this demo will only last for half an hour. The drivers are protesting plans to cut their access to the junction. City of London Corporation wants to close the roads around Bank to all traffic apart from buses by spring of [...]
Southern rail pledges to run full service next week as strike talks get underway January 18, 2017 Southern rail has pledged to run its full service from next Tuesday, as talks aimed at finally resolving the dispute between train drivers' union Aslef and Southern rail kick off today. But the Rail, Maritime and Transport (RMT) union won't be involved. The talks, to be chaired by Trades Union Congress (TUC) general secretary Frances [...]
Hochschild Mining surpasses expectations to produce record results January 18, 2017 Hochschild Mining hit record production, beating targets in its 2016 year-end production report. The figures The British-based mining company said it produced 17.3m ounces of silver and 246,100 ounces of gold. It produced 35.5m silver equivalent ounces, up 31 per cent on 2015, and 479,600 gold equivalent ounces, up from 365,400 ounces. Its flagship low-cost Inmaculada mine had a strong first [...]
Ladbrokes Coral’s shares are on the up as bad run of results fails to hamper annual performance January 18, 2017 Ladbroke Coral's share price jumped over three per cent this morning after revealing its results are on track to fall in line with expectations. The figures Operating profit is expected to be in the range of £275m-£285m. The formerly separate entity Coral contributed around £179m of this with the original Ladbrokes division generating £101m. The profits [...]
Gatwick says it’ll be carbon neutral by the spring after sticking to renewable electricity January 18, 2017 Gatwick Airport has pledged to become carbon neutral by the spring, after teaming up with a global renewable energy alliance. The airport has been purchasing 100 per cent renewable energy since 2013 and electricity now comprises 80 per cent of the airport's operational carbon footprint. It said the remaining emissions will be offset by investments in [...]
Mitie share price nosedives after it warns on profits again January 18, 2017 Mitie Group's share price plunged 16 per cent at the open after the company issued another profit warning. The stock recovered somewhat but was still down 9.3 per cent at pixel time. The outsourcing firm said it would incur a £14m one-off charge for the year to 31 March, the company's third profit warning since September last [...]