TalkTalk down: Share price falls after “significant and sustained cyber attack” and Metropolitan Police hacking investigation revealed October 23, 2015 The Metropolitan Police has opened a criminal investigation after internet provider TalkTalk sustained a “significant and sustained cyber attack”, which has led to fears that customers’ details might have been hacked. It sent shares in the telecoms firm sliding more than 11 per cent in Friday morning trading. The issue first appeared at 3pm on Wednesday. However, according to [...]
Lord Mayor of London Alan Yarrow to call for more investment in UK infrastructure October 23, 2015 London needs the right infrastructure and skills in place to remain competitive on a global stage, leading City figures are expected to say this afternoon. Speaking at Confederation of British Industry's annual autumn lunch, the Lord Mayor of London, Alderman Alan Yarrow, will say that skills and infrastructure are crucial to London’s long-term success. “Just [...]
Forex scandal: Barclays, HSBC and RBS agree to £600m fine for foreign exchange rigging October 22, 2015 Three of Britain’s biggest banks were slapped with a $924m (£600m) bill for rigging foreign-exchange markets yesterday. Barclays, HSBC and RBS agreed the bill during a US federal court hearing, according to reports from Sky News. Barclays agreed to pay $384m, HSBC $285m and RBS $255m, people with familiar with the settlements said. French bank [...]
Alphabet share price jumps as group reveals profit surge in first results since dropping Google name October 22, 2015 Shares in online giant Google have jumped by over 10 per cent in after hours trading after the company revealed a 13 per cent jump in revenue to $18.7bn (£12.2bn) in the three months to 30 September. Net income rose to $3.98bn from $2.74bn, and excluding one-off items, earnings per share rose to $7.35, ahead [...]
Financial Conduct Authority boss Tracey McDermott assures City firms on future regulation October 22, 2015 The head of the UK’s financial watchdog tried to reassure City firms last night that the thousands of pages of regulation that have been heaped on them since the financial crisis would not be added to substantially over the coming years. At an annual London dinner of regulators and finance workers tonight, Tracey McDermott, acting chief [...]
UK house prices: Deutsche Bank calls time on London prime property party October 22, 2015 Analysts at Deutsche Bank have called time on London’s prime property “party” in a scathing note that warns the boom of the past 30 years is a thing of the past. In the latest edition of its Konzeptmagazine, released yesterday, Deutsche Bank’s Sahil Mahtani argues that a looming interest rate hike, the Bank of England’s [...]
Slow and steady growth for Grant Thornton as profits and revenues both rise October 22, 2015 Professional services firm Grant Thornton reported full-year profits were up to £78.6m from £77.9m in 2014 on the back of revenues, which rose from £512m to £521m. Revenue grew at a slower pace, up 1.6 per cent, compared with a nine per cent rise last year. The firm said it had seen several major projects [...]
S&P 500 hits two month high – New York Report October 22, 2015 Stronger-than-expected earnings from several top companies relieved investors’ concerns yesterday about the profit outlook, pushing the S&P 500 to its highest level in two months. The Dow Jones industrial average rose 320.55 points, or 1.87 per cent, to 17,489.16, the S&P 500 gained 33.57 points, or 1.66 per cent, to 2,052.51 and the Nasdaq Composite [...]
Eurozone bond yields sink to four-month lows on dovish Draghi comments October 22, 2015 Government borrowing costs dropped across the Eurozone and the euro tumbled today as European Central Bank (ECB) boss Mario Draghi gave his biggest hint yet that the bank would take further steps to boost the lacklustre economy. The euro tanked – it could buy 73.4p this morning but has dropped nearly two per cent to a value of 72.2p. [...]
Toy story: Hamleys close to being taken over by owners who are planning department store expansion October 22, 2015 Famous London Toy shop Hamleys is close to being taken over by a Chinese retailer who wants to set up shop in more locations. C.banner International said in a statement today that it is in talks with Ludendo Enterprises, the current owner of the Regent Street giant, which is said to be the oldest toy [...]