Football clubs represent high integrity risk to banks, says Dutch regulator January 13, 2017 Financial institutions need to up their game to combat football corruption, an investigation by the Dutch central bank has concluded. Reporting today, the regulator said banks were exposed to greater "integrity risks" when taking on football clients. And the central bank said this meant financial institutions should "apply a higher risk classification" when dealing with football [...]
This is why investors should hope for an uplift in M&A activity this year January 13, 2017 Investors will be hoping for an uplift in mergers and acquisitions (M&A) activity this year, with a study highlighting the value added to companies by deals. In 2016, buyers outperformed the average company by 5.4 per cent, according to a Willis Towers Watson (WTW) and Cass Business School study. The outperformance was even more pronounced [...]
Indian airline SpiceJet has made a deal to buy up to $22bn worth of planes from Boeing January 13, 2017 SpiceJet today announced it would buy 100 new 737 Max aircraft from Boeing with an option for 50 more in a deal worth up to $22bn (£18bn) in total. The deal for a total of up to 205 planes also includes an agreement for 55 jets that was previously announced in 2014. SpiceJet is an all-Boeing operator, and this [...]
Why Elon Musk’s next SpaceX rocket launch is the most important yet January 13, 2017 For investors in the next generation of energy and in the emerging next-gen aerospace field, SpaceX’s story is a useful lesson. It has been a tough three months for SpaceX. The company has tremendous pressure after the failure of their launch last September. The orbital launch business is brutally competitive and with SpaceX trying to [...]
Brickmaker Forterra boosted by high housebuilder demand in late 2016 January 13, 2017 Shares in Britain's second largest brickmaker cemented gains made in 2016 and jumped nearly four per cent after announcing full-year results would be in line with forecasts. Forterra said brick sales in the last two months of 2016 were ahead of the same period in the previous year. The firm, which listed in April, went on [...]
Labour MP Tristram Hunt quits to take up new role as director of Victoria & Albert Museum January 13, 2017 Labour MP Tristram Hunt is to step down and leave the world of politics, as he prepares to take on the role of director of London's Victoria & Albert Museum. The Stoke-On-Trent Central MP has been in talks with the museum for some time, according to PoliticsHome, which first broke the story. An announcement is expected [...]
Oil prices fell today after Opec said it won’t hit target crude output cuts January 13, 2017 Oil prices fell today as doubts emerged that crude production cuts would curb a global surplus of fuel supply. The Organisation of the Petroleum Exporting Countries (Opec) revealed in November it would aim to cut production by 1.2m barrels a day from the first of the year, but today delegates told Reuters it is unlikely to deliver its [...]
No business like snow business: The funniest tweets about London’s flurry of snow January 13, 2017 The Met Office had issued warnings, Transport for London (TfL) said it had prepared – but in the event, in the capital yesterday's snow flurry proved pretty disappointing. That didn't stop Londoners from taking to Twitter to express their excitement, though. Here are the best tweets about #Snowmageddon. With the Met Office having issued warnings [...]
Torrential rain in Spain means spinach shortage and blow to Popeye wannabees January 13, 2017 New Year gym-goers aiming to build up a Popeye-like physique have been dealt a major blow. Torrential rain in Spain has damaged this winter’s spinach crop, and supermarkets are struggling to feed consumer demand. Read more: Manufacturing giant Premier Foods considers price rises due to Brexit vote Waitrose supermarkets, for instance, have signs warning shoppers [...]
Tight labour market should not make Bank of England raise rates automatically says MPC economist January 13, 2017 A tightening labour market should not necessarily prompt the Bank of England (BoE) to raise interest rates, according to a member of the Bank’s rate-setting body. “Monetary policy should not be set in a way that seeks to rule out sub-5% unemployment over time,” Michael Saunders, an external member of the Bank’s Monetary Policy Committee [...]