European mega asset manager Amundi has lifted its 2020 profit expectations – but not as much as expected, causing shares to slide February 9, 2018 One of Europe’s largest asset managers, Paris-headquartered Amundi, has lifted its 2020 targets this morning, though not as much as analysts were hoping. The firm said in an update this morning that all targets announced at the time it floated in 2015 have been surpassed. It added that it would lift its expectations for the [...]
Hogg Robinson (HRG) share price rockets 50 per cent after agreeing takeover by American Express (Amex) travel firm February 9, 2018 Shares in FTSE 250 travel agent Hogg Robinson rocketed this morning after agreeing terms for a £400m takeover by an American Express travel firm. Separately, Hogg Robinson said it had inked a £141m deal with Visa to sell payments software subsidiary Fraedom. American Express Global Business Travel – a company owned by Amex and an [...]
FTSE 100 shares fall again after steep drops on Nikkei, Hang Seng and Sensex February 9, 2018 The FTSE 100 was falling again in morning trading today, after sharp falls among Asian stocks overnight. The drop came after US markets closed in correction territory last night, with both the Dow Jones and the S&P 500 falling more than 10 per cent since their most recent highs. Today the FTSE 100 fell as [...]
British Land acquires the Woolwich Estate near Crossrail/Elizabeth line in south east London for £103m February 9, 2018 British Land has bought the Woolwich Estate for £103m, with plans to regenerate the space and bring in more retailers. The Woolwich Estate comprises 56 retail units and has footfall of 6m, and the company said it “benefits from an improving local demographic with over 40 per cent of residents falling within the top three [...]
Trinity Mirror buys Express owner for £127m – and pays £41m to plug pension hole February 9, 2018 The owner of the Daily Mirror has bought the company behind the Daily Express and Daily Star for £126.7m. An announcement this morning ends Richard Desmond’s 18-year association with some of Britain’s most popular newspaper and magazine titles. After posturing for some time, sale talks between Trinity Mirror and Express owner Northern & Shell were [...]
Bank of England boss says two rate rises this year would not be a “great shock” February 9, 2018 A steeper path of interest rate rises over the next year would not be a “great shock” to the economy, the Bank of England’s deputy governor said this morning. Ben Broadbent doubled down on the hawkish message given by the Bank’s monetary policy committee (MPC), of which he is a member, paving the way for [...]
Training AI to be unbiased must be a priority, not an afterthought February 9, 2018 When considering threats posed by artificial intelligence (AI), the focus usually rests on two. Some foresee a terrifying Skynet dystopia, with sentient computers identifying mankind as their greatest enemy and turning the world into a killbot hellscape. Others, slightly less alarmist, fear automation rendering vast swathes of the population literally redundant. But the most likely [...]
Brexit is no excuse for postponing the Taylor Review labour reforms February 9, 2018 The rise of the gig economy and evolving models of business are changing the world of work. UK employment levels maintain record highs, and over 800,000 vacancies exist. That said, there remains concern that, despite consistently long hours, the UK has the lowest levels of productivity of all EU member states – the pervasive UK [...]
Asia is as key to Britain’s future success as Europe February 9, 2018 It has been another frustrating week for those hoping for a decisive Brexit roadmap from the government. But while battles over the customs union continue to rage, we would do well to remember that the UK should be setting its sights far beyond the borders of Europe. Last week, the Prime Minister was in China, [...]
Wall Street closes in correction territory as stocks tumble February 8, 2018 US stock markets confirmed they were in correction territory today after a week of wild swings. The Dow Jones Industrial Average and the benchmark S&P 500 were both more than 10 per cent lower than their record highs last month, closing down 4.2 per cent and 3.8 per cent, respectively. The tech-heavy Nasdaq ended the [...]