British engineering firm Goodwin suffers 17 per cent dive in share price on profit drop December 19, 2019 British engineer Goodwin’s shares shed over 17 per cent this morning after reporting a “deterioration” in profit for the six months to 31 October. Pre-tax profit fell 5.1 per cent from £7.8m to £7.4m and the group expects similar profitability for the next six months. Read more: CBI urges PM to end uncertainty amid gloomy [...]
Retail sales dip in November despite discounting December 19, 2019 Retail sales dipped last month as UK shoppers showed signs of “discount fatigue” in the run up to Black Friday and Cyber Monday. The amount spent in the three months to November dropped 0.3 per cent compared to the previous three months. Read more: Are there any signs retailers could be in for a merry [...]
Vodafone sells Malta business for €250m December 19, 2019 Vodafone has sold its business in Malta to Monaco Telecom for €250m (£212m). The deal, which is expected to complete in the first quarter of next year, will see the Malta division continue to trade under the Vodafone brand for a transitional period. Read more: Vodafone threatens to withdraw from India over tax dispute In [...]
Activism: an escape hatch for active fund managers? December 19, 2019 | City Talk Active fund managers are like deer caught in the headlights of oncoming traffic. The exchange-traded fund (ETF) industry is expanding its product range to all investment strategies and grabbing market share from the mutual fund sector. In an important milestone, in August 2019, passive US equity funds surpassed their active counterparts in assets under management [...]
RBS clears out senior leadership at Natwest Markets investment bank December 19, 2019 The chief executive and chief financial officer of Royal Bank of Scotland’s (RBS) underperforming investment bank have stepped down, as new chief executive Alison Rose launches a shakeup of the executive team. The departure of Natwest Markets’ chief executive Chris Marks and chief financial officer Richard Place was announced in a statement on Thursday morning. [...]
Watchdog extends Thomas Cook probe December 19, 2019 The UK’s accounting watchdog is extending its investigation into the collapse of travel operator Thomas Cook. The Financial Reporting Council (FRC) announced a probe into EY’s audit of Thomas Cook’s financial statements for the year ended 30 September 2018 following the company’s collapse earlier this year. Read more: Thomas Cook went bust with liabilities of [...]
Donald Trump: US president to face Senate trial after impeachment December 19, 2019 Donald Trump became the third US president to be impeached after the House of Representatives yesterday charged him with abuse of power and obstructing congress. The move by the Democrat-led House sets the stage for a trial next month in the Republican-controlled Senate, which could see Trump convicted and removed from office. The House of [...]
Business can help charities in more ways than just raising funds December 19, 2019 After a Christmas election where all the main parties claimed that they would boost social spending, the season of giving this year has become unusually politically charged. Yet with an estimated 14m people living in poverty in Britain, regardless of which party is currently in power, there will remain a significant role for private philanthropy [...]
DEBATE: Is it time to reform the civil service, as Dominic Cummings intends? December 19, 2019 Is it time for a full restructuring of the civil service, as Dominic Cummings intends? YES, says Duncan Simpson, research director at the TaxPayers’ Alliance. The “Rolls Royce” reputation of the civil service has long been in question. From hugely overpriced procurements in defence and transport, to overly-anxious advice on EU exit negotiations, the supposed [...]
Dear Santa, for this Christmas I want the nanny state to get lost December 19, 2019 What is the best thing about Christmas? Presents are nice. Spending time with friends and family is obviously a highlight. But for many of us what truly makes the season is the food. Mince pies, pigs in blankets, Christmas pudding, a snifter of sherry — the festive period is all about indulging. But will we [...]