Pound sterling continues downward slide amid Brexit jitters | City A.M. August 9, 2018 Sterling has continued its downward slide against the dollar this week, amid growing fears of Brexit talks resulting in a no deal scenario. The pound was down 0.23 per cent against the greenback to $1.2853 in early trading, while it is flat against the euro at €1.1096. Yesterday it slipped below $1.29 for the first [...]
Chinese tech stocks rise as its national leadership group gets an overhaul | City A.M. August 9, 2018 Technology stocks in China rose overnight after Beijing said it has revamped its national leadership group for the sector. Tasked with doing the research and planning for China’s government strategy on tech, the former National Technology and Education Leadership Group has now had the “education” dropped from its name to represent a narrowed focus from [...]
Turf war: Law firm bosses see Big Four as ‘threat’ as they aggressively expand into legal sector | City A.M. August 8, 2018 The City’s top law firms are keeping a wary eye on the Big Four accountancy giants as the beancounters expand into the $600bn (£465bn) global legal services market. Managing partner of City law firm Fieldfisher Michael Chissick said: “They have very ambitious plans, that isn’t in doubt, audit is in decline and it is low [...]
Lendy Cowes Week: Wind provides lively conditions for Youth Day | City A.M. August 8, 2018 After two days of hard work with little wind, today was a welcome relief for many sailors at Lendy Cowes Week. Youth Day saw gusts reaching up to 25 knots, meaning plenty of action out on the Solent. Team Lendy built on some promising results in previous days to finish third in the Sunsail F40 [...]
Snap shares dip nearly six per cent following user drop in second quarter | City A.M. August 8, 2018 Snap shares were down nearly six per cent today following the release of its second quarter results last night that saw an uptick in revenue but a decline in quarterly users. Shares in Snap opened at $12.83 and are currently trading at $12.32 on Nasdaq. The drop is most likely down to Snap’s revelation yesterday [...]
Apple’s iPhone LED screen maker Japan Display narrows quarterly losses, but sales take a nosedive | City A.M. August 8, 2018 Cost cuts have helped Japan Display clawed back its losses for the last three months, but crashing sales numbers stopped celebrations short. The maker of smartphone screens for companies such as Apple reported a net loss of ¥1.77bn (£12.4m) in its first quarter, at an almost 95 per cent decrease from ¥31.46bn in the same [...]
Tesla’s share price (TSLA) loses headwind as analysts cast doubt on Musk’s plans to take it private | City A.M. August 8, 2018 Tesla’s share price was down more than two per cent as markets opened in the US this afternoon, after analysts on Wall Street balked at its chief executive Elon Musk’s claims he could take the firm private. Trading was temporarily suspended yesterday following a string of tweets from Musk in which he said he was [...]
Centre for London: Capital maintains buoyant economy despite Brexit – but housing crisis and quality of life are causing a brain drain | City A.M. August 8, 2018 London’s economy has remained buoyant, with first quarter job numbers reaching an all-time high, a major new report has found. Job numbers in the capital reached 5.9m at the end of June, up 1.9 per cent on last year and the highest since records began. It compares favourably to the rest of the UK, where [...]
The BMW X2 – the sportier new version of the perennial X1 – is a fine addition to the German marque’s roster | City A.M. August 8, 2018 BMW loves to overwhelm with numbers. First we had the X5 SUV, followed by the X3. Then came the X6, X4 and X1. Later this year we’ll see a Range Rover-sized X7 (lord knows how big an X8 or X9 would be), but ahead of that, a more obvious gap has been plugged in the [...]
Walnut Unlimited have revealed that the average commuter spends 55 hours in traffic | City A.M. August 8, 2018 A recent study has shown that the average commuter misses out on 55 hours of “free time” a year due to worsening traffic conditions. The findings by polling agency Walnut Unlimited for the Go-Ahead Group,highlighted the inconvenience suffered by road users, with a commuter leaving home on average 13 minutes early to compensate for any [...]