Aviva’s property fund may be closed for up to eight months due to uncertainty surrounding the Brexit vote August 10, 2016 Aviva's property fund will be closed for six to eight months, meaning investors wanting to withdraw their cash won't be able to do so until next year. In a note issued to investors, Aviva said: "Property sales may be more difficult to execute in the current environment due to market uncertainty. Read more: Aberdeen Asset Management lifts [...]
Wendy’s serves up expectation beating earnings though shares fall on same-restaurant sales miss August 10, 2016 US burger chain Wendy's has beaten bottom line earning expectations, though same-restaurant sales rose less than expected. Shares were down 4.7 per cent in pre-market shortly before the market open. Net income fell to $26.5m (£20.2m), or 10 cents per share, in the second quarter from $40.2m a year earlier. Revenue slid 22 per cent to $382.7 million, mostly [...]
Southern Rail strike called off to allow for fresh negotiations August 10, 2016 The strike on Southern Rail has been called off to allow for fresh negotiations to take place. Acas said that the strike had been called off but Southern said services could still be affected tomorrow. "Southern and the RMT are returning to talks tomorrow under the auspices of Acas. Strike action has been suspended for Thursday [...]
Mick Cash didn’t know this morning how many RMT members voted in the Eurostar strike. He only had to check his own website… August 10, 2016 A total of 55 votes were cast by RMT members in a ballot for strike action against Eurostar, 52 of which said they would be "prepared to take strike action". In a second vote, 48 of the 55 voted that they would be prepared to take "industrial action short of a strike". The information was listed under "ballot [...]
Yuan currency to rule them all: China seeks to boost renminbi August 10, 2016 China has pledged to boost the role of the renminbi in the international economy as the country prepares to take new steps to develop the reputation and more widespread use of its currency. The People's Bank of China (PBOC) said today it was seeking to increase the use of the renminbi as a reserve currency for central [...]
Sir Philip Green is now the fourth richest man in the UK after the death of the Duke of Westminster August 10, 2016 Sir Philip Green is now the fourth richest person in the UK after the death of billionaire landowner Gerald Cavendish Grosvenor, the former Duke of Westminster. The duke was the UK's third richest person until he died last night at the age of 64. His fortune was estimated at £8.3bn by Forbes magazine. Read more: Holiday like [...]
Before the bell: What you need to know before the US market open August 10, 2016 The UK economy is slowing down after its vote to quit the European Union and markets continue to knock on record highs. Here's what you need to know before the US market opens at 2:30pm London time. US markets are pointing up ahead of the open signalling the possibility of further all-time highs. The S&P is [...]
Prudential boss Mike Wells thinks people are still a bit confused about Asia August 10, 2016 The man at the driving seat of one of the most notable insurance giants has today said he believes many are still struggling to get their head around the Asian market. In a conference call to discuss his company's half-year results, Prudential chief executive Mike Wells pointed out there were still many misconceptions about the geographic region, [...]