Brexit immigration targets could ring up a £12bn annual bill on UK finances | City A.M. July 15, 2018 Government immigration targets to reduce net migration to under 100,000 people a year could end up costing the UK economy up to £12bn annually within the next five years, according to analysis from think tank Global Future. Based on data provided by the Office of Budget Responsibility ahead of the government’s latest migration figures, efforts [...]
World Cup 2018: Kylian Mbappe stars as France beat Croatia 4-2 in a final fit for a thrilling tournament | City A.M. July 15, 2018 Ruthless French counter-attacking, bags of Croatian resolve, flashes of Kylian Mbappe brilliance, scintillating goals, even a VAR penalty: if ever a final reflected the tournament that it concluded then this was surely it. A month of sustained thrills drew to a close in Moscow yesterday with a wildly entertaining World Cup final won by France [...]
Another Tory MP Robert Courts resigns from Theresa May’s government over Brexit | City A.M. July 15, 2018 Prime Minister Theresa May came under yet more pressure today as another member of the government resigned. Robert Courts, who succeeded former Prime Minister David Cameron as MP for Witney, said that he would resign in order to express his disapproval of the government’s Brexit position. Courts was a junior ministerial aide in the Foreign [...]
Sports Direct arm buys hockey and cricket retailer with the home of cricket and England Hockey left nursing losses | City A.M. July 15, 2018 Mike Ashley’s Sports Direct has pushed into the world of hockey and cricketing goods after buying a specialist retailer from administrators. Lovell Sports, an arm of Sports Direct, bought Northgame Limited, which trades under the name of Barrington Sports, filings on Companies House show. Barrington Sports is a retail partner for Lord’s Cricket Ground, England [...]
Microsoft faces high expectations ahead of Thursday’s quarterly results, after its share price (MSFT) hit an all-time high | City A.M. July 15, 2018 After a record performance in its third quarter and a share price spike to an all-time high last week, software technology firm Microsoft will be feeling the pressure ahead of publishing its fourth quarter results on Thursday. The company is expected to report revenue of $29.17bn (£22.1bn) at a 25 per cent year-on-year increase, according [...]
Netflix’s quarterly results are tomorrow’s hottest ticket on Wall Street, after its share price (NFLX) had a troubled weekend | City A.M. July 15, 2018 Streaming giant Netflix will report the results of its second quarter tomorrow night, after a troubled weekend on Wall Street after an analyst at Deutsche Bank toned down investor expectations. The second best performing stock on the S&P 500 index is expected to report an increase in worldwide subscriber numbers of nearly 21 per cent [...]
US President Donald Trump’s trade war to knock a fifth off US stock markets say UBS analysts | City A.M. July 15, 2018 A global trade war would knock a fifth off the value of the US stock market and drag back global growth by more than a percentage point, according to analysis from UBS. Economists at the Swiss investment bank said that the US and China would suffer the biggest growth damage, at 2.45 and 2.33 percentage [...]
Bonhams breaks record with £10m Aston Martin sale | City A.M. July 14, 2018 Auction house Bonhams yesterday broke the record for the most valuable British car sold at a European auction when an Aston Martin was sold for more than £10m. The 1961 Aston Martin DB4GT Zagato fetched £10,081,500, which Bonhams said was a record. It sold in the room to a European buyer. The lot was part [...]
Trump rows back on Brexit comments after talks with Theresa May | City A.M. July 13, 2018 Donald Trump has smoothed things over after he said yesterday that a trade deal between the UK and US was unlikely under the current Brexit proposals. Speaking at Chequers alongside Prime Minister Theresa May today, Trump changed his tune, saying that it was the UK’s decision. “I don’t know what they’re going to do but [...]
China trade surplus with US soars to record high as tit-for-tat tariffs begin | City A.M. July 13, 2018 China’s trade surplus with the US jumped to its highest ever record last month, as tensions mount over the escalating tit-for-tat tariff war between the two economic superpowers. New figures show that China’s trade balance with the US widened to $29bn (£22bn) in June, rising from $25bn in May. However, Chinese exports into the US [...]