Jaguar Land Rover sales spike in April despite impending job and production cuts May 9, 2018 Jaguar Land Rover’s sales jumped by more than a quarter in April despite its plans to cut jobs and production as demand falters amid Brexit concerns. The figures Tata Motors, the parent company of Jaguar Land Rover, reported retail sales of 45,180 vehicles in April 2018, up almost 12 per cent from the year before. [...]
Walmart acquires India’s largest online shop Flipkart in $16bn deal | City A.M. May 9, 2018 The US retail company Walmart is making their way into the Indian online shopping market after acquiring Bengaluru-based e-commerce company Flipkart in a $16bn (£11.8bn) deal. Walmart will invest $16bn in Flipkart, which is India’s largest online shop, for the controlling stake of more than 77 per cent. This includes buying out SoftBank, which is [...]
The impact of Trump-Iran standoff on markets after the scrapped the Iran nuclear deal and threatened sanctions May 9, 2018 | City Talk Overnight, US president Donald Trump pulled out of the Iran nuclear deal and said he will reintroduce sanctions on the Middle Eastern nation. How is this going to impact markets? President Trump’s decision to pull out of the Joint Comprehensive Plan of Action (JCPOA), known commonly as the Iran nuclear deal, may have implications for [...]
Trump withdraws from Iran deal: EU mulls retaliation as part of measures to protect European businesses from sanctions May 9, 2018 The European Union is mulling action including counter-measures against the US in a bid to protect firms doing business with Tehran from the threat of sanctions following Donald Trump’s withdrawal from the Iran nuclear deal. Last night Trump described the deal, signed by his predecessor President Obama and the other permanent members of the UN [...]
Alpha insurance bankruptcy: London cabbies scrambling for alternative insurance after provider goes bust May 9, 2018 London cab drivers are scrambling to reinsure their cars after Danish insurance company Alpha went bust yesterday, invalidating their policies. Alpha, which insured numerous taxi drivers through brands such as Cover My Cab and Protector, filed for bankruptcy yesterday, immediately terminating all existing policies. Cab drivers reported receiving text messages today telling them that their [...]
Fintech mortgage broker Trussle secures £13.6m in Goldman Sachs-led funding May 9, 2018 Online UK mortgage broker Trussle has has secured £13.6m in financing from a group of international investors led by investment bank Goldman Sachs as part of its Series B funding round. The fintech company, which launched in 2016, uses its online platform to offer consumers an easier and more transparent way to access a mortgage. [...]
World leaders united in “deep regret” at Trump’s Iran move May 9, 2018 World leaders have united in expressing their deep regret at Donald Trump’s decision to withdraw from the historic deal with Iran. The deal, which allows the country to develop nuclear power and is granted sanctions relief as long as agrees not to develop weapons and submits to regular assessment, was rejected by the US President [...]
Oil prices pushed up higher after Donald Trump’s Iran bombshell as UK, Germany and France urge rethink May 9, 2018 Oil prices rose more than two per cent this morning, in the wake of Donald Trump’s decision to withdraw from the Iran nuclear deal. Speaking from the White House last night, the US President said he believed there was no way to “prevent an Iranian nuclear bomb under the decaying, rotten structure of the current [...]
Retailers suffer biggest drop in consumer spend on record: BRC May 9, 2018 Retail spending suffered the sharpest decline since records began last month, according to the British Retail Consortium. Year-on-year consumer spend dropped by 3.1 per cent in April, following a 2.3 per cent rise in March, adding to downbeat data that makes a Bank of England interest rate hike this week even less likely. The drop [...]
Gold miner Petropavlovsk faces shareholder revolt as splinter group aims to oust all directors and reinstate old guard May 9, 2018 London-listed gold miner Petropavlovsk, founded by mining magnate Peter Hambro, is facing a shareholder revolt as two investors have proposed resolutions to oust all the company’s directors. Cabs Platform and Slevin, which together hold 9.11 per cent of the Russia-located business, instead want to reinstate former directors Pavel Maslovskiy, Roderic Lyne and Robert Jenkins. The [...]