Mercedes-Benz owner Daimler profits dip in spite of record unit sales April 27, 2018 Profits of Mercedes-Benz maker Daimler dipped due to rising raw material expenses and currency headwinds. Releasing its first quarter results, Daimler boasted record unit sales, up 7 per cent to 806,900 vehicles, but net profits were down from €2.7bn (£2.4bn) to €2.4bn (£2.1bn). Overall revenue was up, rising by 3 per cent to $39.8bn, 8 [...]
Bank of England is teaming up with the European Central Bank on financial services protection from Brexit risks April 27, 2018 The Bank of England and the European Central Bank are teaming up for work on protecting the financial services industry from Brexit risks. The European Commission and the Treasury have asked the two to set up a “technical working group” on risk management in the period around 30 March 2019. It will be chaired by [...]
Fresh doubt cast over Oxford Street pedestrianisation as Westminster orders halt on works April 27, 2018 Fresh doubt has been cast over Sadiq Khan’s plans to pedestrianise Oxford Street after Westminster Council said work should be halted while it mines the responses of residents in an ongoing consultation. Council head Daniel Astaire, who is a vocal opponent of Sadiq Khan’s plans to take buses, cabs and delivery vans off one of [...]
Brexit’s impact on UK GDP has been “relatively muted” since referendum, says Moody’s April 27, 2018 Ratings agency Moody’s said today that Brexit’s impact on UK economic growth had been “relatively muted” since the referendum vote in June 2016. Today, UK GDP growth undershot expectations considerably, edging up at 0.1 per cent, making it the slowest rate of growth for five years. Moody’s has updated its latest Brexit Monitor, a regular [...]
Sterling drops by more than 1 per cent against the dollar with “balloon-like ease” on back of poor GDP growth April 27, 2018 Sterling fell to its lowest level since March today following the release of bleak statistics for the UK’s GDP in the first quarter. ONS figures showed that the economy grew just 0.1 per cent in the first quarter below forecasts, representing the slowest pace of growth since the fourth quarter of 2014. But the ONS [...]
The City reacts to sharp UK GDP slowdown saying the chances of a May interest rate rise are slim to none April 27, 2018 The big news of this morning with the UK economy growing more slowly than expected during the first quarter sent the pound falling as attention turned to the prospects of a May rate rise. GDP grew by 0.1 per cent during the first three months of the year, down from 0.4 per cent in the [...]
Digital football platform Dugout raises £8.3m investment led by Marseille owner Frank McCourt April 27, 2018 Digital football platform Dugout has received a new £8.3m investment led by Marseille’s American owner Frank McCourt and brother David. Over 70 of the world’s biggest football clubs — including Real Madrid, Barcelona, Manchester City, Arsenal and Juventus — partner with Dugout where they have dedicated channels to upload content and interact with fans directly [...]
London tourism still “a touch depressed” after terror attacks as Madame Tussauds owner Merlin gives update April 27, 2018 Legoland owner Merlin Entertainment today told investors that its revenue for its London business remained down year-on-year as visitor numbers stay low following a number of terror attacks in 2017. Merlin is responsible for a number of popular tourist spots in London, including Madame Tussauds, Sea Life London Aquariums and The Dungeons. In a trading [...]
UK GDP: Pound sterling (GBP) falls after UK economy grows more slowly than expected in the first quarter April 27, 2018 The UK economy grew more slowly than expected in the first quarter, with 0.1 per cent growth in GDP reported by the Office for National Statistics this morning. UK quarterly growth was tipped to fall to 0.3 per cent from the 0.4 per cent recorded from October to December. The 0.1 per cent growth in [...]
Leaders of two Koreas make ‘new history’ at historic summit on peace talks April 27, 2018 The leaders of North and South Korea hailed the start of a “new history” as they attended a historic summit designed to end decades of conflict and political impasse. North Korean leader Kim Jong Un and South Korean President Moon Jae-in met at the heavily fortified demilitarised zone between the countries that has come to [...]