One chart showing what would happen to the UK’s GDP if you stripped out London August 11, 2016 Since the Brexit vote and the ensuing realisation of a divide in national political priorities, an increasing amount of noise has been made about turning London into its own state. Admittedly, that's pretty unlikely – but figures put together for City A.M. by Statista using research from German think tank Institut der deutschen Wirtschaft suggests what might happen [...]
October coupons expected to be cancelled for Manchester Building Society noteholders August 11, 2016 Manchester Building Society revealed more bad news today as it updated note-holders that it did not think they would receive scheduled interest payments. The society said that it did not expect to have sufficient regulatory capital (Common Equity Tier 1) to pay coupons to holders of permanent interest bearing shares (PIBS), which were supposed to be paid in October this year [...]
Novartis faces potential South Korea sales ban after executive dodgy dealings August 11, 2016 One of the world's largest drug producers, Novartis, is facing a sales ban in South Korea due to an ongoing scandal over kickbacks – known in the industry as rebates – that has engulfed its senior executives. Six former and current Novartis executives – including former South Korean chief executive Moon Hak-sun – have been indicted on charges of [...]
The number of mortgages in arrears and repossessions fell in the last quarter August 11, 2016 The number of mortgages in arrears continued to fall in the second quarter, reaching its lowest level since records began. According to the Council of Mortgage Lenders (CML), at the end of June there were 92,500 mortgages in arrears of at least 2.5 per cent of the total mortgage outstanding – down from 95,900 at [...]
Coca-Cola HBC AG’s share price fizzes on popping profits August 11, 2016 A leading Coca-Cola bottler has jumped to the top of the blue chips today as its share price fizzed seven per cent on better-than-expected results. The figures Cost efficiencies and better pricing in established markets drove Coca-Cola HBC AG's operating profit up 10.8 per cent to €220.6m (£188.8m) in the six months to 1 July, from €199.1m in the same period [...]
Sales fall, but retailer’s shares up as back-to-school season approaches August 11, 2016 Kohl’s share price leapt 15 per cent in the US on Thursday morning after the department store retailer beat analyst expectations in its second quarter. The figures Sales in the three months to 30 July fell two per cent year-on-year to $4.2bn (£3.2bn). Net income for the period, meanwhile, came in at $140m, up eight [...]
London entrepreneurs face a bill of almost £30,000 to start their business according to new figures August 11, 2016 London entrepreneurs face a bill of almost £30,000 to start a business, according to enterprise finance provider LDF. In a survey of 850 small and medium sized businesses, LDF found that starting a business in London is less expensive than seven other UK cities. However, the bill of £28,742 faced by an average London entrepreneur [...]
Three at 3: The three stories you need to read right now August 11, 2016 We’ve done the legwork for you, and put together the top three stories of the day in bite size form, just to make your life that bit easier. Time for a coffee break? Check out our three at three. Tips to help you make a success of any networking event We've all been in those [...]
Business pushes government once again on airport decision after Gatwick records largest ever month of traffic August 11, 2016 Business groups have jumped on data showing Gatwick recorded its busiest ever month in its 80 year history to push for a decision on aviation capacity. Some 4.6m passengers travelled through the airport in July, up 6.9 per cent on the same month last year, while long-haul jumped 23 per cent. Business groups welcomed the news, but indicated it [...]