National Grid systems to be a legally separate division… but will remain a subsidiary January 12, 2017 National Grid investors will breathe a sigh of relief as it has avoided being split up by the government. The business, energy, and industrial strategy department and regulator Ofgem today revealed plans for the the electricity system operator to be separated into its own distinct legal entity from 2019. But authorities stopped short of spinning [...]
Moss Bros focuses on online sales and improving margins January 12, 2017 Menswear retailer Moss Bros scored a healthy sales growth in the second half of 2016 as it focussed on improving its margins and its online offering. In the 23 weeks from 31 July to 7 January, Moss Bros' like-for-like sales grew 6.1 per cent on the year before, with online sales jumping 24.9 per cent. [...]
Increasing levels of cyber security will be vital as fintech approaches “watershed moment” January 12, 2017 | City Talk In 1993, cartoonist Peter Steiner of The New Yorker coined the phrase: ‘On the internet, no-one knows you’re a dog.’ More than 20 years later, the issue of internet privacy and a user’s ability to send and receive messages anonymously, remains a significant barrier to building online trust. “The reality is, as individuals, if we [...]
Hays finance chief says Brexit uncertainty makes hiring overseas a logical choice for City firms January 12, 2017 The UK’s largest recruitment firm said City firms would choose job creation in Germany or France ahead of Britain while Brexit uncertainty remains. Hays revealed trading in the UK, which represents around a quarter of its global operations, had fallen for the second quarter in a row, down 10 per cent on a like-for-like basis [...]
Eurozone industrial production surge gives surprise growth picture January 12, 2017 Industrial production has surged in the Eurozone, setting the scene for an increase in growth in the region. Eurozone industrial production rose to 1.5 per cent in November, up from a meagre 0.1 per cent in October, according to the European Commission. While industrial production figures can be volatile, the acceleration in industrial growth will [...]
The 5 biggest global risks to business in 2017 do not include Brexit, populism or terrorism January 12, 2017 The five biggest risks to doing business globally do not include Brexit, populism, or terrorism, according to the World Economic Forum's benchmark "Global Risks" report for 2017. WEF said the following five themes that pose the greatest risks are: 1. Unemployment or underemployment. 2. Energy price shock. 3. Fiscal crises. 4. Failure of national governance. [...]
These analysts are not impressed by M&S’ trading update January 12, 2017 And it looked like things were going so well. Marks and Spencer started off the trading session on a high, jumping five per cent at the open when the retailer beat expectations with its like-for-like clothing sales. But M&S lost its shine as the day wore on, and its share price is now up just 0.8 per cent [...]
Jupiter Fund Management’s share price drops five per cent after reporting last-quarter outflows January 12, 2017 Jupiter Fund Management’s share price dropped around five per cent today as the company reported fourth-quarter outflows. The figures Overall, clients pulled £373m from Jupiter investment products in the three months to 31 December. However, over 2016 as a whole, Jupiter reported net inflows of £859m. Total assets under management (AUM) came in at £40.5bn, up [...]
Here’s when the next Tube strike is likely to be January 12, 2017 The next Tube strike will take place on 6 February unless a dispute with Transport for London (TfL) can be resolved, the RMT union has said. The PA reported today that the RMT had warned industrial action will be "escalated" if TfL cannot resolve the dispute. The threat came days after Tube workers brought the [...]
Snow no! London airports have cancelled dozens of flights January 12, 2017 As snow and ice loomed over London, airports across the capital have cancelled dozens of flights. Heathrow and Gatwick airports both said some flights were cancelled in advance of the snow, which is set to begin at five o'clock tonight. Meanwhile, Luton and City airports both said they will keep travellers up to date. Heathrow [...]