Deficit hangs over Hammond: Chancellor facing new £20bn black hole says Institute for Fiscal Studies (IFS) | City A.M. October 30, 2017 Philip Hammond faces another £20bn hole in his deficit reduction plans, as the chancellor comes under political pressure to increase spending in the forthcoming Budget. Analysis by the influential Institute for Fiscal Studies (IFS), published today, shows that a productivity forecast downgrade from the government’s Budget watchdog may leave the total deficit as high as [...]
Beaufort Securities and WH Ireland move into top five most popular stockbrokers for Aim-listed firms as Finncap remains on top October 30, 2017 A good quarter of adding new customers has pushed Beaufort Securities and WH Ireland into the top five stockbrokers to Aim-listed companies by client numbers, according to data published this morning. Beaufort Securities has enjoyed a net gain of three new clients since July to reach 63 overall, making it the fourth most popular broker [...]
Apple’s profits are expected to be dragged down by iPhone X manufacturing issues October 29, 2017 Manufacturing setbacks for Apple’s new £1,000 iPhone X are expected to hit the firm’s full-year profits this week. The tech giant’s premium iPhone X sold out almost instantly last week, but customers were upset to find delivery estimates climbing just minutes after pre-orders opened. While demand for the X has been strong, reports of manufacturing [...]
Owner of book shop Waterstones drafts in Rothschild to consider sale and new loans October 29, 2017 Book retailer Waterstones could be put up for sale next year as its owner, the Russian tycoon Alexander Mamut, explores options with bankers from Rothschild. Waterstones, which Mamut bought from HMV in 2011, has weathered the rise of e-readers to return to profits in the past year. It is understood that Mamut brought in NM [...]
Micro Focus executive chairman Kevin Loosemore set for £24m payday | City A.M. October 29, 2017 An executive chairman who has managed to hand shareholders average returns of 40 per cent every year is set to become the FTSE 100’s best-paid boss of 2017. Kevin Loosemore, who has been at the helm of Britain’s biggest technology firm Micro Focus since 2011, will this week take home a bonus of £24m. The [...]
Deutsche Boerse chief executive Carsten Kengeter steps down over LSE insider trading investigation as firm issues profit warning October 29, 2017 The boss of Deutsche Boerse has stepped down after an investigation into allegations of insider trading of shares in London Stock Exchange (LSE). Deutsche Boerse said today Carsten Kengeter had informed its board at an extraordinary general meeting he will step down at the end of this year in order to allow the company to [...]
Revolution Bars shareholders eye a merger with Deltic after rejecting Stonegate October 29, 2017 Top stakeholders in Revolution Bars are starting to warm up to the idea of a merger with nightclub operator Deltic Group. Shareholders in Revolution rejected a more than £100m takeover offer from Slug and Lettuce owner Stonegate Pub Company earlier this month. Deltic had attempted to put the brakes on the takeover bid by launching [...]
MP Mark Garnier to be investigated by Cabinet Office over sexual harassment claims October 29, 2017 An MP will be investigated after claims of sexual harassment were made against him in a Sunday paper. The Cabinet Office will look into the claims against Mark Garnier, the parliamentary under secretary of state for international trade and MP for Wyre Forest, said health secretary Jeremy Hunt during an appearance on the BBC’s Andrew [...]
Heathrow airport is investigating a leak of security information found on a USB stick October 29, 2017 Heathrow has launched an investigation after a leak of security information was discovered on a USB stick Maps, videos and documents related to the airport’s security were discovered without passwords or encryption, The Sunday Mirror reports, after a man discovered the USB stick and handed it to the newspaper. Read more: Heathrow boss calls airport [...]
Michael Gove apologises for Harvey Weinstein sex assault “joke” on radio October 28, 2017 The environment secretary Michael Gove has apologised for a “clumsy” joke referencing Harvey Weinstein, who has been accused of multiple counts of sexual assault, on a BBC radio programme. Speaking on a special 60th anniversary edition of Radio 4’s Today, the Conservative MP told interviewer John Humphrys that going into the studio “is a bit [...]