London Fashion Week kicks off as China slowdown is becoming an increasing headache for luxury brands September 15, 2015 Friday marks the start of London fashion week, when luxury brands flaunt their Spring/Summer collections on the catwalk and throw champagne-fuelled parties to celebrate the arrival of the next fashion season. But behind the scenes, the party mood is more subdued as luxury companies nervously assess how great an impact the ongoing economic slowdown [...]
National living wage for over-25s to have modest impact on costs September 14, 2015 Chancellor George Osborne’s new Living Wage, a higher minimum wage for over-25s, will be affordable to most industries but could severely impact others, a think tank said today. Around half of the employees set to benefit from the National Living Wage (NLW) are in industries where the resulting wage bill increase will by 0.6 [...]
UK public’s inflation expectations rebound from their record lows September 14, 2015 Expectations of inflation have bounced off record lows, according to survey data released by Barclays yesterday. The general public expect inflation to be 1.6 per cent over the next year, up from a record low of 1.3 per cent three months ago. Barclays has published its Basix inflation expectations figure since 1986. [...]
IBM hires ex-Thomas Cook boss Harriet Green to lead new data-focused business September 14, 2015 IBM has confirmed the appointment Harriet Green, former chief executive of Thomas Cook, to lead two new business divisions – the Internet of Things and Education Business. In a statement, the New York-based technology company said these units were being launched to “apply the company’s considerable strengths in Big Data, advanced analytics and cognitive [...]
HSBC latest to withdraw as nomad on Alternative Investment Market September 14, 2015 HSBC is the latest bank to leave Aim, the London stock exchange’s market for smaller growing companies. The bank has withdrawn its status as a nominated adviser (nomad), making it the latest major banking adviser to be leaving the Alternative Investment Market. HSBC hasn't had any clients on the market for over a year, and [...]
Santander UK doubles fees for 123 current account holders, blaming low interest rates and tough banking regulations September 14, 2015 Santander UK is more than doubling its fees on 123 current accounts, raising the yearly rate to £60. Three million customers are affected by the fee hike, which the Spanish banking giant is blaming on changes in banking regulations and low interest rates. Monthly fees will be raised to £5, more than twice today’s rate [...]
Metro Bank targets wealthy customers with new head of private banking Julie Barnsley September 14, 2015 High street challenger Metro Bank has announced a new head of private banking services, Julie Barnsley. The bank hopes to draw in wealthier clients with Barnsley’s appointment, and capitalise on the recent surge in demand for their private banking services, which now accounts for one fifth of the business. Read more: Financial challengers Zopa and Metro [...]
Sir Charles Dunstone’s Freston Road Investment to bring US pizza chain MoD to UK after Five Guys success September 14, 2015 Sir Charles Dunstone has moved from backing burger joints to pizza chains after striking a joint venture agreement to bring US restaurant chain MOD Pizza to Britain. MoD, which stands for Made on Demand, allows customers to pile as many toppings as they want on their artisan-style pizza base for the same fixed price. It [...]
Eurozone industrial production accelerates to five-month high September 14, 2015 Eurozone industrial production beat economists' expectations in July, rising to a five-month high, amid a higher volume of energy, capital and durable consumer goods. Data from Eurostat has shown industrial output in the single currency bloc rose 0.6 per cent compared to June, and 1.9 per cent year-on-year. Economists polled by Reuters had been expecting a [...]
Quindell share price falls after distressed companies investor Hedge fund Beach Point Capital Management beefs ups stake September 14, 2015 A US-based hedge fund has beefed up its stake in insurance group Quindell, which is being investigated by the Serious Fraud Office (SFO). Beach Point Capital Management now has a five per cent stake in Quindell, after buying more than 420,000 shares in the company on 10 September. Beach Point, whose clients include large public and corporate pension [...]