Andrew Tyrie ramping up efforts to block George Osborne’s proposed new bank tax October 8, 2015 The chairman of an influential parliamentary committee is doubling down today on his efforts to block a new tax on banks. Andrew Tyrie, who chairs the Treasury Select Committee, has written to Andrew Bailey, deputy governor for prudential regulation at the Bank of England, about the effect of the so-called bank tax surcharge. The new tax, [...]
London’s first rocket-shaped tower fails to launch October 8, 2015 Houston, we have a problem. Plans to add a 110-metre tall tower in the shape of a rocket to London's skyline have been grounded after planners denounced it as too "alien" for the local area. A planning application for the Gagarin Tower, named after the first human to travel into space, was rejected by Southwark Council members earlier this week. Planners struggled [...]
Metro Bank appoints advisers for an initial public offering in 2016 October 8, 2015 Metro Bank has reportedly appointed advisers for an initial public offering which could take place as soon as the first quarter of 2016. The challenger has hired Bank of America, Goldman Sachs and the Royal Bank of Canada to work on the listing which will target around £300m in fundraising proceeds, Sky News has reported. Sky [...]
Dow crosses 17,000 for first time in weeks – New York Report October 8, 2015 Signs of dovishness in the Federal Reserve September meeting minutes which shed light on its decision to keep interest rates near zero helped to maintain an upward momentum in US stock markets. The Dow Jones industrial average rose 137.86 points, or 0.82 per cent, to 17,050.15, the S&P 500 gained 17.56 points, or 0.88 per [...]
Amazon UK to create 19,000 jobs over Christmas to cope with extra demand October 8, 2015 Amazon UK is creating 19,000 people in seasonal roles over Christmas as it gears up for the busiest time of the year, the online retailer announced yesterday. The company said the majority of the jobs will be in its fulfillment and customer service centres to help cope with the extra demand. Salaries will start from [...]
US Federal Reserve September meeting minutes: Members worried about low inflation October 8, 2015 The US Federal Reserve held off raising interest rates in September due to concerns about low inflation. The minutes from the meeting on September 16 and 17 released today showed some Fed officials said they weren't any more confident that inflation would return to the target of two per cent in the next two years. [...]
DFS share price grows as furniture chain reports rising sales and profits October 8, 2015 Furniture chain DFS posted a surge in sales and profits yesterday in its first set of full-year results since its £540m market debut in March. The sofa specialist said pre-tax profits trebled to £10.7m in the year to August from £3.6m last time. Five store openings and strong trading across its Dwell and Sofa Workshop [...]
UK retailers enjoy best September in three years with sales up 2.8 per cent – BDO October 8, 2015 Shoppers flocked back to the high street last month after a weak August as retailers enjoyed their best September performance in three years. UK retail sales rose by 2.8 per cent year-on-year – the best figures for the month of September since 2012 and the highest monthly rise since April last year, BDO’s monthly High [...]
Amazon Fresh launches in London: Some postcodes now get one-hour chilled and frozen food deliveries through Prime Now October 8, 2015 Amazon is delivering fresh chilled and frozen food in selected London postcodes for the first time, testing out the waters for Amazon Fresh. A fresh pint of milk, tub of Ben and Jerry's or a packet of fish fingers for tea can be on some Londoners' doorsteps in less than 60 minutes with the new delivery service [...]
London Stock Exchange Group to sell Russell Investments for £752m October 8, 2015 The London Stock Exchange Group has agreed to sell asset manager Russell Investments to US private equity firm TA Associates for £752m. The London Stock Exchange initially announced its intention to sell Russell Investments, which it acquired when it bought the Frank Russell investment firm last year, in February. The group expects the index business to be completely separated from Russell Investments [...]