Saudi oil attack: How high could oil prices go after record-breaking rise? September 16, 2019 Analysts are this morning coming to terms with the implications of an attack on two Saudi processing plants after they pushed up oil prices as much as 20 per cent. The price of Brent crude rose as high as $71.95 per barrel this morning, however its have since given back most of those gains, trading [...]
PPI costs account for over half of all conduct and litigation charges at UK banks September 16, 2019 Costs from the mis-selling of payment protection insurance (PPI) has accounted for more than half of all litigation and conduct charges faced by Britain’s biggest banks in recent years. Moody’s Investors Service has said that PPI was the largest single source of conduct and litigation charges from 2011 to the first half of 2019, as [...]
Asda employees stage fresh protests over contract changes September 16, 2019 Asda employees are protesting across the country over the implementation of a controversial new contract. Protests will take place at nine stores today, including in Leeds, Glasgow and Nottingham, after GMB union members staged demonstrations across the country earlier this month. Read more: Asda under pressure as workers stage nationwide protests Workers have raised concerns [...]
Can you Brexit-proof your investment portfolio? September 16, 2019 | City Talk The future of Brexit is unknown, but investors and traders need to be proactive if they are to avoid any sudden shocks. Here’s how you might Brexit-proof your investment portfolio. The UK hasn’t left the EU yet, but Brexit is already wielding its influence over the financial markets. For the past three years, investors and traders [...]
Eddie Stobart issues profit warning amid takeover interest September 16, 2019 Eddie Stobart has warned its underlying profits for 2019 will be “significantly below” expectations as it confirmed it had received a takeover offer from one of its shareholders. Last month the truck firm suspended shares and announced its chief executive Alex Laffey was standing down with immediate effect after it discovered a multi-million pound accounting [...]
Petra Diamonds loses its sparkle as annual profits plunge September 16, 2019 Petra Diamonds suffered a double-digit fall in annual profits during the last year as weak diamond prices dragged down the South African mining giant. London’s largest quoted diamond mining group reported adjusted core profits of $153m (£122.8m) in the 12 months to 30 June 2019, plunging 22 per cent from the previous year. Read more: [...]
Lord Livingston to step down as chair of Man Group September 16, 2019 Man Group confirmed today that its chair is to step down, making way for the ex-boss of Deutsche Bank as part of the latest boardroom shake-up inside the world’s largest listed hedge fund. Former BT boss Lord Livingston of Parkhead is to resign as chair of the FTSE 250 firm at the end of this [...]
John McDonnell pledges crackdown on City ‘enablers’ of tax avoidance September 15, 2019 Shadow chancellor John McDonnell has vowed to clamp down on City advisers engaged in promoting tax avoidance schemes, calling for hefty fines and even jail terms under a future Labour government. McDonnell directed his fire at “big accountancy firms” which he called “enablers” of tax avoidance, the term used to describe legal efforts to minimise [...]
Hong Kong bourse to tell LSE investors: Ditch Refinitiv for us September 15, 2019 Hong Kong’s stock exchange will this week try to convince London Stock Exchange (LSE) shareholders that its proposed £32bn takeover is a better deal than LSE’s tie-up with data firm Refinitiv. Read more: Hong Kong hits back at London Stock Exchange over £32bn deal proposal Hong Kong Exchanges and Securities (HKEX) will hold meetings and [...]
Lib Dems vow to scrap Brexit if they win general election September 15, 2019 The Liberal Democrats have vowed to cancel Brexit if they win a majority at the next general election. Members of the party today voted in favour of a motion to revoke Article 50 – the mechanism that allows the UK to leave the EU – if they emerge as the largest party in a national [...]