Poor weather puts a dampener on Bank of England rate hike as policymakers adopt ‘wait and see’ approach for economic growth May 10, 2018 The Bank of England has voted to keep interest rates steady once again at 0.5 per cent, shunting back a decision to hike rates after a slew of weak economic data. Though the Bank’s Monetary Policy Committee (MPC) said that the lower-than-expected economic growth in the first quarter was likely to be a temporary blip, [...]
Petrol prices to increase by 2p over next two weeks after Trump announcement to reimpose Iran sanctions May 10, 2018 Petrol prices are expected to rise by 2p over the next two weeks following President Donald Trump’s decision to pull out of the Iran nuclear deal on Tuesday. Last month petrol prices grew by 3p, according to the RAC, and the trend seems to continue as oil prices are expected to grow in the coming [...]
Pound falls as BoE hold interest rates again – but experts argue a rise is still on the horizon May 10, 2018 The pound has fallen on the news that the Bank of England has chosen not to raise interest rates, falling 0.2 per cent against the dollar to $1.35. The decision came after a slew of weak economic data put governor Mark Carney’s plans to raise rates above historic 0.5 per cent levels on hold. Just [...]
BT’s share price plummets as it confirms plan to slash 13,000 jobs and quit London HQ to cut £1.5bn in costs May 10, 2018 BT’s share price fell nearly 10 per cent this morning as the telecoms giant revealed plans to cut 13,000 jobs and quit its London headquarters as the telecoms giant looks to cut costs. The jobs – mainly back office and middle management roles, two-thirds of which are UK-based – will be lost over the next [...]
Former Goldman Sachs president and Trump adviser Gary Cohn predicts global cryptocurrency in the future, but not bitcoin May 10, 2018 Former Goldman Sachs president Gary Cohn predicts that in the future we will have a global cryptocurrency, but that it will not be bitcoin. According to Cohn, a currency using blockchain technology may be a possibility in the future but one that is more consumer-friendly than bitcoin which people can understand how to use and [...]
Barclays: Activist Bramson met with Old Mutual Global Investors last month as he plots to shake up the bank May 10, 2018 Activist investor Edward Bramson met with Old Mutual Global Investors last month in a bid to gain support for his plans to shake up Barclays. According to Financial News, Bramson met the investment manager’s chief executive Richard Buxton to try and gain support for his plans. Bramson has amassed a 5.41 per cent stake in [...]
Rolls-Royce SUV will be built in the UK, says carmaker’s boss May 10, 2018 Rolls-Royce has said it plans to build its next SUV in Britain, ahead of the big reveal of the luxury Cullinan model at noon today. Chief executive Torsten Muller-Otvos told the BBC’s Today Programme the firm would like to continue building cars at its West Sussex plant. But with 90 per cent of Rolls-Royce’s cars [...]
Capita’s share price falls more than 35 per cent after rights issue May 10, 2018 Outsourcing giant Capita’s share price fell more than 35 per cent this morning, after the firm admitted more than one million new shares to the market. The giant rights issue, which was announced on 23 April, saw new shares sold at 70p per share, a discount of 34 per cent as it attempts to reduce [...]
UK construction output falls to lowest levels since 2012: ONS May 10, 2018 UK construction output fell 2.7 per cent in March, the biggest decline since August 2012, according to the Office for National Statistics. The three-month on three-month decline in the sector was driven by falls in both repair and maintenance, and new work, which fell 2.8 per cent and 2.6 per cent respectively, the ONS said. [...]
RBS (Royal Bank of Scotland)’s share price jumps as it agrees to pay $4.9bn to the US Department of Justice to settle mortgage mis-selling case May 10, 2018 Royal Bank of Scotland (RBS) announced today that it has finally agreed to settle a mortgage mis-selling scandal by paying the US Department of Justice (DoJ) $4.9bn (£3.6bn). The agreement of the civil, rather than criminal, penalty will finally allow RBS to move forward and potentially resume paying a dividend for the first time since [...]