Berenberg warns investors should be underweight Britain’s big banks, including Barclays, Lloyds and Royal Bank of Scotland (RBS) March 15, 2016 Analysts at Berenberg have said investors should be wary of Britain’s big banks, amid expectations that mortgage profitability will fall below 10 per cent. “We think interest rates will remain at low levels and, as a result, expect mortgage margins to fall by six basis points per year,” Berenberg’s banks team said in a note [...]
US Presidential Election 2016: Founder of National Front Jean-Marie Le Pen backs Republican Donald Trump March 15, 2016 Founder of French political party National Front Jean-Marie Le Pen has leant his support to Donald Trump in the buildup to the US presidential election. Taking to Twitter, Le Pen wrote "I believe in the victory of Trump", having previously written that the billionaire is "an independent candidate with populist language, this is what made him [...]
US retail sales fall 0.1 per cent in February as cash spent on gasoline plummets March 15, 2016 US retail sales dropped in February, but were likely held down by lower prices. Spending at retailers fell 0.1 per cent from in February to $447.3bn (£315.7bn), according to the Commerce Department. On the same month last year sales were up 3.1 per cent. The figure is not adjusted for inflation. Sales at gasoline stations [...]
BlackRock adds its voice to warnings over market bounce, as rally begins to lose its lustre March 15, 2016 A market bounce since January and February lows is at risk of crashing back to earth, according to Russ Koesterich chief investment strategist at BlackRock. BlackRock is the latest financial institution to warn that the current rally may be short lived after Morgan Stanley yesterday said that economic and political circumstances may take its toll on company shares. The FTSE 100 [...]
We’ve reached peak hipster: Pop-up firm Urban Food Fest is catering for HSBC’s Rugby World Sevens Series at Twickenham March 15, 2016 NULL
Business groups welcome Transport for London’s budget and business plan while Zac Goldsmith says it shows Sadiq Khan’s policy would leave London transport with £1.9bn black hole March 15, 2016 Business groups have welcomed the new budget and business plan from Transport for London, which set out improvements including the continuing construction of Crossrail. The budget plan also outlined developments including extensions and modernisations to a number of Tube lines and reasserted the importance of the Night Tube, as well as drawing attention to a range of road improvements that [...]
The Garden Bridge just came a step closer as Bouygues TP and Cimolai ink construction deal March 15, 2016 The Garden Bridge just came a step closer despite fierce opposition, after contracts were signed to start detailed designs and construction of the bridge and several new planning applications were approved. Construction firms Bouygues TP and Cimolai will work on the £175m bridge which will host thousands of trees and shrubs over the Thames, which is slated to open in 2018. Lambeth [...]
Duke Street Capital’s perfume seller celebrates bumper sales of knock-off Chanel fragrance March 15, 2016 Hats off to the well-heeled asset managers at Duke Street Capital. The firm's discount retailer Original Factory Shop is shunning originality and raking it in on knock-off designer goods. Original Factory achieves an annual turnover of around £200m for the private equity firm, and no wonder – a £5 bottle of perfume the firm says smells just [...]
Odds on Worldpay: Paddy Power Betfair strikes services and insights agreement with global payment provider March 15, 2016 The bookmaking major Paddy Power Betfair has announced an agreement with global payments company Worldpay to provide payment processing services and gambling expertise for its online customers. As part of the deal, Worldpay will provide Paddy Power Betfair with payments insights to improve processing efficiencies by using its consumer betting behaviour knowledge. Worldpay uses these [...]