Over 400 shops to be sold as part of £2.3bn Ladbrokes-Coral merger May 15, 2016 Bookies Ladbrokes and Coral look set to find out exactly how many branches they must sell this week as part of their £2.3bn merger. The Competition and Markets Authority (CMA) verdict on the deal is expected in the coming days, with The Sunday Telegraph reporting that the watchdog will order the combined firm to offload between 400 and 500 [...]
Burberry checked: Luxury retailer set to report seven per cent profit drop May 15, 2016 Luxury retailer Burberry will reportedly announce a dramatic reduction in annual profits this week. According to The Sunday Times, the firm is likely to report a 7 per cent drop in profits to £415m for the year to the end of March, with Burberry chief executive Christopher Bailey likely to unveil a raft of cost-cutting measures. It comes [...]
UK-bound Ryanair flight evacuated in Oslo after bomb hoax May 15, 2016 A Ryanair flight which was supposed to be heading for the United Kingdom has been evacuated in Oslo following after a bomb hoax. Ryanair flight 3225 from Oslo Rygge to Manchester airport was scheduled to depart at 6.55pm local time and arrive in Manchester at 7.55pm, but after concerns were raised, the flight was evacuated after boarding and two passengers [...]
The financial sector contains all the elements to make it the perfect target for cyber crime May 15, 2016 Telecomms giant Talk Talk and affairs facilitator Ashley Madison may have made headlines when they suffered data breaches last year, but a report due out on Tuesday will warn that the financial sector is the real top target for cyber attacks. The study by Marsh and TheCityUK will explore the extent of the risk that cyber crime poses to the City [...]
Inflation and wages set to falter this week as economy on pause until after EU referendum May 15, 2016 A stuttering labour market and a dip in inflation are set to be revealed later this week, in mounting signs that the UK economy is struggling for momentum. Figures to be released by the Office for National Statistics (ONS) are set to show inflation falling back towards zero, the number of people in work to [...]
Royal Bank of Canada kicks off the financial sports day season at Queen Elizabeth Olympic Park May 15, 2016 Summer is just around the corner, and London's well-heeled parents are doubtless parking their 4x4s on school athletics pitches ahead of the sports day season. Kicking things off with a bang, the Royal Bank of Canada hosted its very own sports day for the capital's students at Queen Elizabeth Olympic Park on Sunday. The bank's seventh annual [...]
Lloyds Bank leads the London financial sector in British LGBT Awards May 15, 2016 Bravo to bankers at Lloyds – the firm has been crowned the top employer for promoting diversity in this year's LGBT Awards. Lloyds Banking Group, which has a professional LGBT Network of over 3000, was named LGBT Network Group of the Year. The bank saw off stiff competition from the likes of Tesco and PwC. Dubbed [...]
Top City advisers to be grilled by MPs in wake of BHS collapse May 15, 2016 A string of top City advisers are set for a grilling over the BHS fiasco after being called to give evidence in front of MPs. The business, innovation and skills committee is currently running an inquiry into the sale and acquisition of BHS, which kicked off last week with a joint hearing alongside the work [...]
Libor probe dropped in Germany for ex-Deutsche Bank staff May 15, 2016 Frankfurt prosecutors late last week dropped a case into five former Deutsche Bank staff for alleged Libor manipulation. It is understood that it could not be established that any erroneous information submitted by staff could have influenced the rate, and that the law did not provide any basis for prosecution. "We investigated whether there was a violation of [...]
Warren Buffett has been linked with a group that is looking to bid for Yahoo May 15, 2016 Warren Buffett, the legendary investor, is backing a consortium that is bidding for the core internet assets of Yahoo, according to reports. The head of Berkshire Hathaway, also known as the Sage of Omaha, is reportedly among a group that includes Dan Gilbert, the billionaire founder of Quicken Loans. US news reports and the Financial [...]