Central London property investment soars after General Election January 17, 2020 Investment in central London’s office market soared in December, after the result of the General Election sparked a flurry of deal activity. The £4.9bn invested in the fourth quarter of last year was a 125 per cent jump on the amount invested in the previous quarter and was on par with 2018. The Conservative general [...]
Government launches initiatives to boost City investment in Africa January 17, 2020 International development secretary Alok Sharma today announced a range of initiatives to spur the City of London to boost investment in Africa by billions of pounds. The schemes include a competition for fund managers to identify new investment products for Africa, as well as money to improve the financial systems and regulations of 45 developing [...]
HSBC reportedly set to cut around 100 jobs in equities business January 17, 2020 HSBC is reportedly cutting around 100 roles in its equities business, with the bulk of the layoffs expected to fall on continental European trading floors. The cuts will be across the bank’s equities research, sales, trading, and back office businesses, Reuters reported, citing sources familiar with the matter. The lender is planning to refocus its [...]
Hastings shares tumble as insurer issues profit warning January 17, 2020 Hastings shares plummeted this morning after it warned that it expects a 42 per cent drop in annual profit because of high claims costs in the final quarter. The motor insurer said it plans to lower its annual dividend, citing a challenging market. Shares fell 6.3 per cent this morning to 173.5p. Hastings said claims [...]
Renault sales fall 3.4 per cent amid doubts over Nissan alliance January 17, 2020 French car maker Renault suffered a 3.4 per cent fall in global sales last year, despite growing in its home European market. Sales grew by 1.3 per cent to 1.94m cars in Europe, but fell 17.2 per cent in China. Sales fell by 19.3 per cent in Africa, Middle East, India and the Pacific region. [...]
Cranswick upgrades profit as African Swine Fever boosts UK exports January 17, 2020 British butchers Cranswick said this morning that its full-year profit will beat expectations after export sales soared due to African Swine Fever. The company said “export sales have continued to be exceptionally strong”, as an outbreak of African Swine Fever in China has seen the demand for British pork rise. “African Swine Fever has created [...]
Khamenei says Iran missile strikes were ‘slap in face’ for US January 17, 2020 Iran’s Supreme Leader Ayatollah Ali Khamenei said in a Friday prayers sermon today that Iran’s missile strikes on US military bases in Iraq were a “slap in the face” to the superpower. Khamanei, giving his first sermon since 2012, added that the country would not bend to pressure despite the US imposing sanctions in the [...]
Flybe’s government rescue deal is much smaller than you think January 17, 2020 Regional airline Flybe has hit back at claims by its competitors that it has received favourable treatment from the state, after it struck a rescue deal with the government earlier this week. The struggling carrier sought to correct reports that the government had deferred a tax bill of more than £100m to keep it aloft. [...]
Government faces accusations of lying over Flybe rescue package January 17, 2020 The recriminations surrounding the government’s rescue package for Flybe grew yet again this morning, as Ryanair boss Michael O’Leary accused the state of a cover-up of the true terms of the deal. O’Leary has already written to chancellor Sajid Javid threatening legal action over what he calls illegal state aid to one of his competitors. [...]
NMC Health hires former FBI director to probe short attack allegations January 17, 2020 NMC Health has appointed former FBI director Louis Freeh to look into allegations of financial wrongdoing by the company made by US short-seller Muddy Waters. The hospital operator’s shares have plummeted 44 per cent since Muddy Waters published a report raising “serious doubts” about the company’s finances and asset valuations on 17 December. NMC Health [...]