Threat of ‘no deal’ Brexit weighs on British business confidence | City A.M. August 6, 2018 The threat of a ‘no deal’ Brexit is weighing heavily on business optimism as the international trade secretary, Liam Fox, warns that EU “intransigence” means leaving without a trade agreement is now the most likely outcome. A survey of 1,000 senior British professionals by the Institute of Chartered Accountants (ICAEW) will today show that confidence [...]
William Hill in further US expansion talks | City A.M. August 5, 2018 William Hill is in talks with a US casino firm to further expand its operations across the Atlantic. City sources have named Penn National Gaming as the operator in question, although the bookmaker itself has declined to comment on the specific tie-up. Talks are said to be at an early stage. If it goes ahead, [...]
Police boat pursues jet skis down Thames in Bond style high-speed chase | City A.M. August 4, 2018 Police were seen pursuing a group of people on jet skis down the Thames yesterday in a James Bond-esque chase. The Metropolitan Police Service (MPS)’s water division confirmed yesterday evening that it had been called to the scene following reports of the jet ski riders speeding down the river. “Marine Policing Unit officers pursued four [...]
US service sector expands at slowest pace for 11 months | City A.M. August 3, 2018 The US’ services sector has expanded at a lower-than-expected rate, marking its lowest growth in 11 months, official data has revealed. The Institute for Supply Management’s non-manufacturing index fell to 55.7 in July, down from 59.1 in June. This was worse than the expected slide to 58.6 and the lowest reading since August 2017. However [...]
US dollar slides as non-farm payrolls miss expectations, with slowing job growth | City A.M. August 3, 2018 The US added just 157,00 jobs to the economy last month, its slowest pace of hiring in four months, undershooting analyst expectations of 193,000. However, June’s non-farm payroll has been revised up to 248,000, from 213,000, with May’s data also better previously thought. The dollar slid 0.08 per cent against the euro on the news. [...]
UK services PMI slides in July following ‘disappointing’ business growth and job creation | City A.M. August 3, 2018 The IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI), seen as a barometer of economic health, fell in July to 54.3 from June’s 54.9. The index signalled the slowest expansion of service sector output for three months, raising questions over the Bank of England’s (BoE) decision to raise interest rates yesterday from 0.5 per cent [...]
International Beer Day: How to get a free beer in London | City A.M. August 3, 2018 It’s International Beer Day, and just in time for Friday we’ve tracked down the deals you need to know to celebrate in style. Pints on the house There are few things in life better than a free beer, and thanks to Old Blue Last you can end the week on a high with just that. [...]
FTSE 100 packaging giant Mondi gets boost to shares as it reports rising profits | City A.M. August 3, 2018 FTSE 100 paper giant Mondi Group got a share boost this morning as it said profits rose in the first half of the year. The figures In the six months up to 30 June 2018, underlying earnings were up 17 per cent to €852m (£759.3m). Profit before tax was also up six per cent to [...]
Zopa raises £44m to build ‘next generation’ bank | City A.M. August 3, 2018 Peer-to-peer lender Zopa has raised £44m – its largest sum so far – to help fund the “next generation bank” it has been building. The firm, which matches borrowers with people looking to invest, aims to build a set of products that “customers can feel good about”, with no catches on rates or charges, no [...]
Pets at Home share price leaps as lower prices pay off | City A.M. August 3, 2018 Price cuts and instore vets helped Pets at Home to increase sales in the first few months of the new financial year this morning, sending shares higher. The retailer’s share price was at a new low of 113p yesterday, but this morning’s update boosted it by 10 per cent. The figures Overall revenue was up [...]