Eurozone trapped by deflation in March, but there could be signs of life on the horizon March 31, 2016 The Eurozone could not shake-off its deflationary funk in March as prices fell for a second consecutive month according to official numbers out this morning. Inflation, as measured by the "harmonised index of consumer prices" (HICP), was down by 0.1 per cent on the year, with tumbling energy prices dragging down the cost of goods for [...]
HomeServe share price up after company announces $75m deal to take “largest single step” in US expansion March 31, 2016 HomeServe's share price rose this morning after it announced a deal to take its “largest single step” in US expansion. The home repairs business announced this morning it has agreed to acquire Utility Services Partners (USP) for $75m (£52.2m) in cash on a "debt free cash free" basis at completion. It said the deal would [...]
Here’s the UK’s “crash for cash” insurance fraud capital March 31, 2016 It may be a central part of the Midlands engine, but Birmingham also tops a different kind of motor-centric list. Birmingham has today been named the UK's crash for cash capital, with one out of every four fraudulent claims occurring in this city. The research by insurance company Aviva discovered that crash for cash incidences, in which fraudsters [...]
Cautious UK companies begin belt-tightening as business investment stutters in the face of oil price crash and fears of Brexit March 31, 2016 British firms may be battening down the hatches and trimming back on business investment in the face of global turmoil and the Brexit referendum, according to statistics released this morning. Official figures showed that the amount invested by firms into new assets like buildings, machines, equipment, and intellectual property, slipped by two per cent in [...]
Prime minister David Cameron says “nationalisation not the answer” to steel crisis March 31, 2016 Prime minister David Cameron said today that nationalisation isn't the answer to a deepening crisis in the UK steel industry. He said "we're not ruling anything out" when asked if the government was ruling out nationalisation in the long-term. "I don't believe nationalisation is the right answer. What we want to do is secure a long [...]
Fastnet Equity shares rise after company announces £29.6m reverse takeover deal with Amryt Pharmaceuticals March 31, 2016 The share price of Fastnet Equity, formerly known as Fastnet Oil and Gas, shot up this morning after it announced a £29.6m reverse takeover deal with Amryt Pharmaceuticals. If the reverse takeover is agreed, the new Aim-listed company would be called Amryt Pharma. Amryt, which was founded in August 2015, recently agreed deals to acquire Birken and SomPharmaceuticals. [...]
Elon Musk to unveil new Tesla: Here’s everything you need to know about the Model 3 March 31, 2016 Tesla may be among the coolest marques around at the moment, but with a Model S priced at just shy of £50,000, for the majority of petrol (er, lithium?) heads, the brand has been pretty out of reach thus far. But that's all about to change, with the launch of the Model 3, set to take place [...]
Our current account deficit has risen sharply and is way above estimates March 31, 2016 The ONS has just published the UK's current account deficit for the fourth quarter of last year and the figure has risen sharply. Our current account deficit was £32.7bn, or seven per cent of GDP (though this has – callooh callay – been revised upwards). This compares with the third quarter's figure of £20.1bn. It's also way above estimates, which [...]
Party on: Pound bounces as UK GDP growth is revised upwards March 31, 2016 Things aren't as bad as we thought, it turns out – after official figures showed UK GDP rose 0.6 per cent in the fourth quarter of last year, rather than the 0.5 per cent originally thought. The figures, published by the Office for National Statistics (ONS) this morning, showed growth in December 2015 compared with the same [...]
Fintech growth and approaching “Uber moment” will see 30 per cent staff reduction in a decade across banks in Europe and United States, Citigroup report predicts March 31, 2016 The banking industry in Europe and the US is approaching an "automation tipping point" – or "Uber moment" – according to a new report by Citigroup. In a "digital disruption" note, Citi said the rise of fintech companies will mean these traditional banks reduce employee numbers by 30 per cent in the next decade. Read more: Fintech revolution? Banks will [...]