Funeral firm Dignity suspends dividend as deaths slump July 31, 2019 Funeral firm Dignity suspended its dividend today as a fall in the number of deaths hit its results. In the six months to 28 June revenue fell 12 per cent to £153.3m compared to the same period last year. Operating profit nearly halved, falling 46 per cent to £28m, with basic earnings per share dropping [...]
Lloyds Banking Group misses profit targets as £650m PPI provisions weigh heavy July 31, 2019 Lloyds Banking Group has undershot analyst profit expectations for the first half, with a £650m provision for payment protection insurance (PPI) pay outs denting its earnings. The bank posted pre-tax profit of £2.9bn, falling short of the analyst consensus of £3.45bn. Read more: Lloyds to pay £140m to settle Standard Life Aberdeen row The bank [...]
UK leads EU venture capital, but Brexit could threaten its dominance July 31, 2019 The UK is continuing to dominate European venture capital (VC) deals thanks to a rise in mega rounds but uncertainty over the movement of talent post-Brexit could hit the sector hard, a new report has cautioned. UK VCs totalled 63 per cent of Europe-wide deals during the first half of the year, driven by a [...]
Boris Johnson at odds with Leo Varadkar over Irish backstop July 30, 2019 Boris Johnson and his Irish counterpart Leo Varadkar are at odds over how to solve the Brexit impasse, with Leo Varadkar stating that the EU was united in its insistence that the withdrawal agreement could not be reopened. The Prime Minister held a phone call with Varadkar today, in which the two leaders discussed Brexit. [...]
Lufthansa earnings drop amid EU price war July 30, 2019 Lufthansa has seen its second quarter earnings plummet amid a price war with rivals based in Germany and Austria and “persistent overcapacities” in the airline market. The figures Adjusted earnings before tax dropped 25 per cent from €1bn (£91.6m) to €754m, The airline said this was because fuel costs were €255m higher than they were [...]
MPs attack government over lack of post-Brexit investment policy July 30, 2019 MPs have strongly criticised the government for failing to prepare a policy on international investment agreements ready for Brexit, which the new administration has pledged will happen “come what may” on 31 October. Read more: Dominic Raab: Britain ‘turbo-charging’ no-deal Brexit preparations The International Trade Committee (ITC) said it was “alarmed” that ministers have not [...]
Jupiter’s assets up under new boss as outflows begin to slow July 30, 2019 Jupiter Fund Management has seen a modest first-half improvement under new chief executive Andrew Formica, but the company is still recovering from the loss of a star fund manager earlier in the year. The company’s half year results showed an 8 per cent increase in assets under management, but outflows of client cash continued in [...]
Cafe Coffee Day founder VG Siddhartha goes missing July 30, 2019 The founder of Indian Starbucks rival Cafe Coffee Day has gone missing after reportedly facing pressure from activist shareholders. Local media outlets reported that VG Siddhartha was on his way to the port city of Mangaluru when he asked his driver to wait for him on a bridge and never returned. Shares in coffee day [...]
Alastair Campbell says he does not want to rejoin Corbyn’s Labour July 30, 2019 Tony Blair’s former spin doctor Alastair Campbell has said he does not want to rejoin the Labour party after he was expelled for voting for the Liberal Democrats in May’s European elections. Campbell, a former political journalist who served as the former Prime Minister’s chief press secretary until 2000, said he did not want to [...]