Bumper US jobs report sends S&P 500 to record high and brings rate rise into view August 5, 2016 The US economy added 255,000 jobs in July in the second blockbuster month for employment, raising the prospect of an interest rate rise and sending the S&P 500 to a new record high. Official non-farm payroll data published this afternoon also showed average wages grew by 2.6 per cent on an annualised basis, the same rate in June, but [...]
Deliveroo just raised $275m to fend off Uber August 5, 2016 Deliveroo, the London-based food delivery startup whose bikes are swarming the capital, has just raised another $275m (£209m) in an effort to ward off a growing threat from Uber. The company said the Series E investment round was led by Bridgepoint, existing investor DST Global and General Catalyst, with participation from Greenoaks Capital. The company said [...]
Profitability hits record low for UK’s offshore oil and gas industry August 5, 2016 The UK's oil and gas sector was the least profitable quarter for two decades at the start of the year, figures out this morning have revealed. The Office for National Statistics (ONS), said profitability among the UK's "continental shelf" companies – mainly off-shore exploration firms – plunged to 0.2 per cent in the first quarter. [...]
More trouble for London Stock Exchange and Deutsche Boerse, as European investors group opposes merger to create “quasi-monopolistic” group August 5, 2016 A European investors trade body has written to the European Commission to say it is “highly concerned” about the implications of the London Stock Exchange-Deutsche Boerse merger. "The merger swiftly creates a long lasting position of ‘super’ dominance for LSE/DB and therefore poses a direct threat to the freedom of choice for (future) listed companies [...]
RMT has just offered to suspend next week’s Southern strike – but only if it matches an offer by ScotRail August 5, 2016 The RMT union has offered to suspend strikes on Southern Rail planned for next week – but only if Southern meets certain conditions. In an open letter to Southern managing director Charles Horton following two days of Acas talks, the union said it will suspend strikes as long as the company matches an offer made by [...]
Heading to Brighton Pride this weekend? Southern Rail could cause problems due to staff shortages August 5, 2016 Londoners heading to the Pride festival in Brighton this weekend could be in for a longer party than they are expecting, with industrial action set to cause delays, cancellations and a lot of waiting for train services. Southern Rail has warned that "because of continuing train crew shortages, some services may have to be cancelled [...]
Heading to Brighton Pride this weekend? Southern Rail could cause problems due to staff shortages August 5, 2016 NULL
William Hill says Euro 2016 made up for Cheltenham losses in first half August 5, 2016 William Hill said today that better than expected takings around the Euro 2016 football championship had helped to offset this year's very poor Cheltenham festival, with revenue and pre-tax profit both increasing in the 26 weeks to 28 June. The figures Revenue rose one per cent to £814.4m from £808.1m in the same period last year. [...]
Frank Field has met with the director of the Serious Fraud Office to talk about BHS August 5, 2016 Frank Field, chair of the Work and Pensions Committee, has met with the director of the Serious Fraud Office to discuss the ongoing investigation into BHS and Sir Philip Green. Field said the discussion with the SFO's director David Green came about because of concerns surrounding assurances made about Retail Acquisitions (RAL), the company majority-owned by [...]
Good, bad, ugly? Nobody can agree on what the recent house price data means August 5, 2016 Halifax said this morning that house prices fell between June and July and that annual and quarterly rates of house price growth are slowing. City A.M. has heard talk of buyers wanting 10 per cent off the price of properties because of the Brexit vote, and earlier this week, Knight Frank said prices for high-end houses in [...]