Wonga secures authorisation from the Financial Conduct Authority as the payday lender seeks to rebuild its damaged brand January 19, 2016 Wonga has secured full authorisation from the City’s watchdog, as the payday lender looks to rebuild its damaged brand. The licence from the Financial Conduct Authority (FCA) comes just in time for the lender: its interim permission to operate was running out in a matter of weeks. Wonga, hoping to rebuild its much-maligned business, is [...]
Renault to recall 15,000 cars, says French energy minister Segolene Royal January 19, 2016 Renault will recall 15,000 vehicles to bring them into line with emissions standards, French energy minister Ségolène Royal told French media today. "Renault has committed to recalling a certain number of vehicles, to check them and adjust them correctly so that the filtration system works," Royal told radio station RTL. The news comes five days after [...]
Damp January instead of Dry? Find out how many calories are in your beer or wine with Diageo’s drinks calculator on DrinkIQ January 19, 2016 If Dry January seems excessive but you still want to keep some semblance of a healthy lifestyle in the new year, Damp January might be more up your street. But how to make sure that your drinking is balanced? A new drinks calculator lets you track not just how many units you’re drinking, but also [...]
IG Group Holdings share price down after company reports small dip in profit but also net trading revenue growth in half year results January 19, 2016 IG Group Holdings today revealed profit before tax of £98.6m for the six months ended 30 November 2015, down 2.8 per cent from £101.4m last year. Despite this, net trading revenue growth for the derivatives trading company was stronger, increasing 8.8 per cent to £214.8m, up from £197.4m the year before, while new client numbers were ahead of the company's prior [...]
FTSE 100 opens higher despite weak Chinese economic data as miners including Anglo America, Glencore and BHP Billiton rally January 19, 2016 The FTSE 100 index opened higher today despite data from China that showed its economy growing at its slowest rate in 25 years. The UK's blue-chip index opened 1.64 per cent up at 5,872 points, led higher by miners. Yesterday markets were weighed down by "continued risk aversion and weakness in oil prices, as concerns grow over further deflationary forces rippling [...]
Stonewall top 100 employers: Lloyds Banking Group named most LGBT-friendly place to work in the City as MI5 tops list January 19, 2016 Lloyds Banking Group has been named the best LGBT-friendly place to work in the City, and second in the UK behind spy agency MI5. The bank's director of operations, Karin Cook, has been named Stonewall's champion of the year, leading Lloyds' efforts on diversity and inclusion. JP Morgan, Bank of America Merill Lynch and Macquarie entered [...]
Rio Tinto posts record-high iron output despite plunging commodities prices January 19, 2016 Rio Tinto has shrugged off the woes of the continuing global commodities rout to post record high iron ore shipments in its fourth quarter results today. Despite the rout, the world’s second-largest mining company is aiming to boost production further next year, setting a 2016 target for global iron ore production of around 350m tonnes. [...]
Unilever warns of “tougher market conditions” in 2016 despite smashing sales expectations January 19, 2016 Battling currency headwinds and slowing global growth, consumer goods giant Unilever has warned of “high volatility” and tougher conditions in the year to come, despite posting underlying sales growth that beat expectations. The figures The FTSE-listed consumer goods firm posted underlying sales growth of 4.9 per cent for the last three months of 2015, a [...]
Private equity firms dine out on restaurant chains January 19, 2016 The restaurants and bar sector was a veritable feeding frenzy of deals last year, with more choice of companies to buy than an all-you-can-eat Chinese buffet. Robust trading conditions thanks to improved consumer spending provided an opportune time for private equity companies to sell long-term investments to rival buyout firms with cash to spend. CBPE’s sale of [...]
HSBC expansion curtailed by China slowdown January 18, 2016 London based HSBC has had its expansion plans throughout Asia dashed by slowing economic growth in China and increased market volatility throughout the region, according to Moody's Investors Service. The bank, which is still considering whether to move its headquarters to Hong Kong or possibly the US, pulled in around 60 per cent of pre-tax [...]