Heathrow third runway dealt deadly blow after top shareholder pulls investment October 31, 2021 Plans to build a third runway at Britain’s busiest airport Heathrow have been scuppered after its top shareholder signalled it will choke off further investment. Spanish transport firm Ferrovial dealt a deadly blow to the Heathrow expansion by signalling it will not plough more money into the airport due to it yielding “low returns”. The [...]
City brings forward bets on Bank of England rate hike to this week October 31, 2021 The Bank of England will hike interest rates this week to hose down runaway inflation, according to several grandee City investment banks. JPMorgan, Deutsche Bank, Morgan Stanley and Santander have all brought their bets on when the Old Lady will increase borrowing costs to this Thursday’s rate setting meeting. The strengthening bets have been driven [...]
The Analyst: Pearsona non grata after third quarter update October 30, 2021 Ian Whittaker has been a City analyst for more than two decades, and what he doesn’t know about media, advertising and the creative services industry isn’t worth knowing. Here’s the next instalment of his monthly column for City A.M. Pearson’s shares fell nearly 15 per cent after its third quarter trading update. While the headline [...]
Jump start: Volvo Cars shares rise on £13bn market debut October 29, 2021 Volvo Cars shares have jumped on its £13bn market debut, which the Swedish carmaker said was “substantially oversubscribed”. It’s share price rose from 53 Swedish krona (£4.50) to around 59.99 krona (£5.10). The initial public offering (IPO), one of Europe’s largest this year, was delayed amid faltering investor confidence, according to reports. The carmaker, owned [...]
Abrdn snaps up retail investing platform Finimize in second digital acquisition October 29, 2021 Abrdn, formerly Standard Life Aberdeen, has acquired retail investing content platform Finimize for an undisclosed sum, in its second major digital investment this year. It’s a move that reinforces CEO Stephen Bird’s focus on bolstering the asset manager’s digital capabilities for its personal and institutional investors, and comes just two months after it acquired AI [...]
S&P 500 and the Nasdaq set to fall after Apple and Amazon disappoint October 29, 2021 The S&P 500 and the Nasdaq indexes are expected to feel the repercussions of Apple and Amazon's supply chain woes.
Post-Brexit: Trading with countries further afield could ramp up UK emissions 88 per cent October 29, 2021 Replacing the trade lost between the UK and the EU since 2018 with deal with countries further afield could increase emissions by 88 per cent, new analysis has suggested. The added distance of travel amounts to around 6.5m tonnes of CO2, according to cross-party advocacy group Best for Britain and UK Trade Business – the [...]
Eustice ‘happy to live with consequences’ of Brexit despite forecast GDP hit October 29, 2021 Environment secretary George Eustice has said he is “quite happy to live with the consequences” of Brexit after the Office for Budget Responsibility (OBR) forecast that the economic impacts would be double that of the pandemic. Speaking to BBC 4 Today’s Nick Robinson, and proposed with the government appointed OBR’s estimate, the minister said: “Well [...]
How Covid moved views on sustainability October 29, 2021 | City Talk The Covid pandemic has intensified concerns about environmental and social issues among individuals around the world who invest. That is one of the key findings from Schroders’ 2021 Global Investor Study. Another is that increasingly asset managers are expected to take responsibility for action over climate change. Here, we take a glance at the sustainability [...]
London markets dip as NatWest tumbles on money laundering charge October 29, 2021 London markets tumbled this morning driven by investors being spooked by NatWest booking millions to deal with the fallout of a money laundering scandal. The capital’s premier FTSE 100 index dipped 0.24 per cent to 7,231.78 points, while the mid-cap FTSE 250 fell 0.37 per cent to 23,113.91. More to follow.