Next’s share price is riding high after its trading update – but analysts’ reactions are a mixed bag August 3, 2016 The markets have responded positively to Next's second quarter update this morning, after the company announced sales were up 1.8 per cent so far this year – but analysts' reactions have been mixed. Augustin Eden, a research analyst at Accendo Markets said investors "shrugged off a disappointing trading update" as Next's share price rose after the [...]
Profits dive 46 per cent at Standard Chartered but share price jumps August 3, 2016 Standard Chartered's share price has jumped even as it reported a 46 per cent fall in profits and said it was not yet ready to reinstate an interim dividend. The emerging markets focused bank reported pre-tax underlying profits of $994m (£745m) in the first six months of the year, down from $1.8bn in the comparable period of 2015, [...]
This map shows the average rental price for a double room in every London postcode August 3, 2016 Renters of London, rejoice – for those punishing hikes in rent you've been experiencing since the downturn may have come to an end, new figures have suggested. The average rent in the capital increased just one per cent year on year in the second quarter of this year, SpareRoom's London Rental Index has shown, compared with [...]
UK on brink of recession as service sector slammed in July August 3, 2016 The UK could already be in the midst of a recession according to fresh economic data out this morning. The latest purchasing managers' index (PMI) data has revealed the dominant services sector shrunk in the first full month after the EU referendum as the shock of the UK's vote to leave appears to have taken an immediate [...]
The FCA is to consult on whether consumers deserve more compensation for unsuitable advice on pension transfers August 3, 2016 City watchdog the FCA is to consult on how redress is calculated for unsuitable pensions transfer advice. The FCA revealed this morning that it would consult in the autumn for workers advised to transfer out of defined benefit schemes. Current rules were set up by the Pensions Review in the 1990s, and were designed to [...]
Here’s the windfall City advisers are in for from the ARM Softbank mega-deal August 3, 2016 A handful of top City firms will land a windfall share of the multi-million pound pot of cash being splashed on advisers to one of the biggest tech deals of the year. More than £100m is being spent on advisers to Softbank's acquisition of ARM in a £24.3bn mega-deal agreed in June. Big name banks such as Goldman Sachs and Lazard are [...]
Bank shares across Europe have opened steadily after HSBC results August 3, 2016 European banks have stopped the rot after two days of dramatic selling across the continent, as a share buyback at HSBC helped buoy investor sentiment. The UK's largest listed lender reported a steeper-than-expected 29 per cent fall in profits, but intends to snap up around $2.5bn (£1.9bn) of its own shares and maintain its dividend. [...]
Ruh-rob: Bitcoin price plummeted 20 per cent last night after a major exchange was hacked August 3, 2016 The value of bitcoin fell sharply last night after a major exchange halted trading, saying it had uncovered a security breach. Bitcoin fell as low as $483.10, after Hong Kong-based Bitfinex said some of its users had had their bitcoins stolen. In a statement it said the theft had been reported to the police. Read [...]
Bookies have cut the odds on a Clinton presidency after Obama branded Trump “unfit” to be President August 3, 2016 Bookmakers have cut the odds of a Hillary Clinton presidency after Barack Obama branded Donald Trump “unfit” to be President. Obama blasted Trump at a press conference yesterday, saying that the billionaire is “woefully underprepared” to take on the Oval Office. Asked specifically about Trump's comments in relation to the family of slain American muslim [...]