Petropavlovsk swings into profit as processing plant comes online September 10, 2019 Russian gold miner Petropavlovsk put a bruising boardroom battle aside to swing into profitability in the first half of the year. The company said today that profit before tax hit $16.8m (£13.6m) in the first six months of the year, versus a loss of $33.1m over the same period in 2018. Read more: Petropavlovsk investor [...]
UK unemployment fall pushes earnings growth to 11-year high September 10, 2019 The number of Britons without a job fell in the three months to July to a 45-year low, official figures have shown today, helping total earnings growth hit a decade high. Read more: Hiring intentions climb at financial services firms as Brexit nears UK unemployment was estimated at 3.8 per cent in the period May [...]
Debate: With its valuation in question, is WeWork’s IPO really a good idea? September 10, 2019 With its valuation in question, is WeWork’s IPO really a good idea? Yes – Andrew Boyle is founder and chief executive of LGB & Co. WeWork’s objectives of establishing a dominant market position and global brand demand substantial funding, so an IPO makes sense from the firm’s perspective. For investors, it offers a chance to [...]
Hiring intentions climb at financial services firms as Brexit nears September 10, 2019 Firms in the finance and business services sector intend to take on new staff at the fastest rate in over a year as they ready themselves for the 31 October Brexit deadline, a survey has shown today. Read more: BoE chief economist cautions against interest rate cut with employment high Meanwhile, low levels of unemployment [...]
World Bank’s Georgieva unopposed for IMF seat September 9, 2019 The chief executive of the World Bank is poised to take over the International Monetary Fund after she was revealed as the only candidate. Kristalina Georgieva will be considered after nominations closed on Friday, the IMF said today. Read more: Europe select Kristalina Georgieva for IMF top job The Bulgarian economist is set to meet [...]
How did banks get their PPI sums so wrong? September 9, 2019 | City Talk Lloyds, RBS and CYBG have all had to admit they’ll take much larger hits for PPI claims than originally thought. The end is in sight for banks and PPI claims, but what’s been made abundantly clear is just how badly they estimated the losses. The total cost to Britain’s banks from PPI is now a cool £50bn. These [...]
UK economy shakes off recession fears with growth in July September 9, 2019 The UK economy grew by more than expected in July, official figures have shown, allaying fears that Britain could be heading for a recession. Read more: Into the red: UK economy shrinks for first time in seven years British GDP expanded by 0.3 per cent month on month in July, after stagnating in June. Economists [...]
Going Dutch: UK investment in Netherlands soars since Brexit referendum September 9, 2019 UK investments in the Netherlands have jumped more than four-fold to €80bn (£72bn) since the Brexit referendum in 2016, the Dutch statistics office said today. In the same period, Dutch investments in the UK fell from €50bn to negative €11bn as Brexit uncertainty led to capital outflows. Read more: Netherlands in talks with 325 companies [...]
How will global disruption affect small cap stocks? September 9, 2019 | City Talk Small capitalisation stocks, or small caps, can offer the potential for higher returns compared with investing in larger companies, although they are not without risks. As with all equities, investors may not get back the amount they originally invested. As well as the potential for higher returns, investors are also being drawn to the sector [...]
DEBATE: Should capital gains tax be raised and aligned with income tax? September 9, 2019 Should capital gains tax be raised and aligned with income tax, as it was under Margaret Thatcher? YES, says Robert Palmer, executive director of Tax Justice UK Why should someone who goes out to work for a living pay a higher rate of tax than someone living off their wealth? It’s an important question, especially [...]