Arron Banks blasts Ukip’s “insane” decision to exclude Steven Woolfe from the race to succeed Nigel Farage as party leader August 3, 2016 Ukip donor and Leave.EU founder Arron Banks has hit out at the party after it decided to bar migration spokesman Steven Woolfe from running in a leadership contest, warning it raises "fundamental questions" about the future of the party. Woolfe was excluded earlier today following a vote of Ukip's National Executive Committee, after he submitted paperwork for his [...]
Ukip leadership favourite Steven Woolfe excluded from contest to succeed Nigel Farage August 3, 2016 The favourite to succeed Nigel Farage at the top of Ukip is to be excluded from the party's leadership contest. Ukip migration and financial affairs spokesman Steven Woolfe submitted documentation in support of his campaign 20 minutes after a Sunday midday deadline, with officials on his campaign blaming technical difficulties. Candidates were required their application [...]
Saatchi ad boss Kevin Roberts resigns after gender row August 3, 2016 One of advertising's top bosses has resigned after a storm surrounding comments he made about women working in the industry. Saatchi and Saatchi chairman Kevin Roberts, who had been put on a "leave of absence" by the agency's owner Publicis Groupe, has said he will leave the company at the start of September. He had planned to retire in May [...]
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. [...]