We are living longer – perhaps we should all be working longer too June 19, 2018 By the year 2030, it is estimated that there will be just 2.3 working age adults in the EU for every person over 65. The demographics of the developed world are changing, and policy is struggling to keep up. British people are living longer – and this is surely to be celebrated. But as life [...]
CYBG agrees deal with Virgin Money June 18, 2018 | City Talk This morning CYBG confirmed that it had reached a £1.7bn deal with Virgin Money to create a new challenger bank to the big four of HSBC, Barclays, Lloyds and RBS. While some have suggested that the terms of the deal aren’t exactly generous I think the deal is less about the terms than whether it's [...]
Bank of England to hold rates as weak economy spurs calls to boost business investment June 18, 2018 The Bank of England is expected to hold interest rates steady at its latest monetary policy meeting this week with debate raging among economists as to whether the UK economy is ready for another rate hike. The Bank’s monetary policy committee (MPC) meets this week before Thursday’s midday announcement, with doubts growing over whether interest [...]
NHS £20bn spending increase to require UK to ‘contribute a bit more’ says Prime Minister Theresa May June 17, 2018 The government will increase spending on the National Health Service (NHS) by more than £20bn by 2022, with firms and consumers “contributing a bit more”, likely through higher borrowing or tax rises. The increase in NHS England spending will be the equivalent of a 3.4 per cent increase per year in real terms, below the [...]
Bitcoin would ‘break the internet’ if used as the main retail payments network says Bank for International Settlements June 17, 2018 Cryptocurrencies like bitcoin and ethereum are a “poor substitute” for state-backed currencies and would break the internet if used in their current form at a national scale, according to a report published today by a powerful central banking body. The Bank for International Settlements (BIS) said that the lack of a central institution backing cryptocurrencies [...]
FTSE 100 ends the day 100 points down despite Rolls-Royce gains June 15, 2018 The FTSE 100 ended the day down more than 100 points as trade war fears reared their head again. After Donald Trump confirmed he will slap tariffs on $50bn worth of Chinese goods, London's blue-chip index closed down 131.9 points at 7,633.9. Global market sentiment was low today, but the FTSE performed particularly poorly due [...]
Majestic Wine reveal solid FY figures, but outlook is cautious June 14, 2018 | City Talk Majestic Wine revealed solid full-year figures this morning, but issued a cautious outlook. Revenue rose by 2.3% to £476.1 million, broadly in line with estimates. Pre-tax profits jumped by 33% to £17.2 million, meeting analysts’ forecasts. The total dividend was increased by 40% to 7.2p, which comfortably topped the consensus estimate of 5.67p. The wine [...]
Petra Diamonds share price tumbles over 20 per cent as company fights to raise £127.4m June 14, 2018 Shares in mining company Petra Diamonds have fallen 23 per cent this morning, after the company flooded the market with new shares in an effort to raise £127.4m. Shareholders approved the rights issue to help cut the company’s debt burden at a special general meeting yesterday by a 99 per cent majority, driving share prices [...]
Vue Entertainment to postpone IPO after major Canadian shareholder considers selling stake June 14, 2018 The UK's largest cinema chain, Vue Entertainment, may postpone its plans for a stock market float after news that one of its biggest shareholders is considering selling its stake in the company. According to Sky News, which first reported the reshuffle, Canadian company Alberta Investment Management Corporation (Aimco) is seeking a buyer for its ts [...]
Unilever shares drop as position in the FTSE looks uncertain June 14, 2018 Unilever has said it is unlikely to remain in the FTSE indexes after its planned move to a single headquarters in Rotterdam. Under plans announced in March, Unilever will ditch its dual-structure system, abandoning London in favour of The Netherlands. At a presentation today, chief financial officer Graeme Pitkethly said the company was "extremely unlikely" [...]