BNY Mellon shares tumble after earnings miss January 16, 2020 Shares in BNY Mellon have fallen eight per cent in US trading after the lender’s fourth-quarter profit missed analysts’ estimates today. Net income at the US’s biggest custodian bank rose 67 per cent year on year in the final quarter to $1.4bn (£1.1bn) – but much of this was due to the sale of an [...]
Can AR bring shoppers back to the high street? January 16, 2020 | Sponsored Augmented reality shopping apps can provide consumers with richer experiences and greater value that can lead to increased store footfall and conversion rates for brick-and-mortar retailers, according to new research. The study, Enabling smart retail settings via mobile augmented reality shopping apps, published in Technological Forecasting and Social Change, also found that AR apps can help to reduce [...]
PPG offers dim outlook for 2020 amid manufacturing decline January 16, 2020 PPG, the world’s leading coatings company, said that weaker industrial demand from the US and Europe would damage sales in 2020 as it announced its results for 2019. The figures: The Fortune 500 company said that sales for the full year hit $15.1bn (£11.6bn), a fall of 1.5 per cent on the previous year. Fourth [...]
Bank of England and City watchdog urge firms to accelerate Libor transition January 16, 2020 The City regulator and Bank of England have joined forces to urge banks and insurers to accelerate plans to transition away from the discredited Libor interest rate benchmark. Firms have until October to stop writing loans tied to the London Interbank Offered Rate (Libor), which is embedded within some $350 trillion (£268 trillion) of financial [...]
Ryanair boss Michael O’Leary threatens to sue government over ‘billionaire-owned’ Flybe rescue January 16, 2020 Ryanair boss Michael O’Leary has threatened to sue the government over its bailout of “billionaire-owned” regional airline Flybe. O’Leary wrote to chancellor Sajid Javid today demanding that the government extend an air passenger duty “holiday” handed to the struggling carrier to all other airlines. If it does not do this, he said, it would be [...]
Morgan Stanley caps off earnings season with record profit January 16, 2020 Morgan Stanley’s profit jumped almost 50 per cent in the final quarter of 2019, its results showed today, pushing the lender’s yearly earnings to a record high. The last of the Wall Street giants to report its fourth-quarter earnings, Morgan Stanley also achieved record revenue in 2019 as its bond-trading arm prospered. Profit rose 46 [...]
Crossrail 2 may already be facing delays, says Sadiq Khan January 16, 2020 Crossrail 2 may have been delayed before government approval has even been given, according to Sadiq Khan. The £41.3bn rail project – a new Tube line running from North to South London – is in limbo as it awaits for the Department for Transport (DfT) to deliberate on its business plan. Under the current funding [...]
Ukraine opens investigation into alleged surveillance of US ambassador January 16, 2020 Ukraine has said it will open a criminal investigation into allegations that the former US ambassador to Ukraine was put under surveillance by people working for President Donald Trump. In a statement today the Ministry of Internal Affairs said it was aware of materials published by investigators “related to possible illegal surveillance on the former [...]
BoE governor Mark Carney to advise PM on climate change January 16, 2020 Outgoing Bank of England governor Mark Carney is to be a key adviser to the government in the run-up to the UN climate change conference, COP26. Boris Johnson confirmed Carney in the role during a meeting at Number 10 today. The Canadian economist will help the UK government to “mobilise ambitious action from across the [...]
Smart meter firm Calisen confirms £1.5bn float plans January 16, 2020 Smart meter firm Calisen today confirmed its intention to float on the London Stock Exchange next month with the goal of raising £300m. The float will value the company at around £1.5bn. The energy company, which is backed by private equity firm KKR, said it would use the funds to pay down debt, support future [...]