Has-beans? What Chilango’s CVA tells us about the struggling casual dining sector December 11, 2019 Mexican chain Chilango offers its customers a choice between three different types of salsa: mild, medium, or hot. Faced with those options, who chooses the middle one? This is – in a way – the conundrum facing the increasingly polarised casual dining sector. Nowadays, customers either want fast, cheap fuel, or they want a quality [...]
Closing the wage gap: Why people of colour get paid less in the tech industry December 11, 2019 The technology industry brands itself as forward-thinking, but salary data tells another story. The gender wage gap — in tech and throughout the job market — has permeated discussions for many years now, and rightfully so, but pay discrimination is affecting other marginal groups without making headlines as often. In fact, racial pay disparity is [...]
Aberdeen Standard offloads largest property fund asset December 11, 2019 Aberdeen Standard Investments has offloaded the biggest asset in its property fund following a spike in investor redemptions. The asset management giant has sold The Moor shopping centre in Sheffield to New River real estate investment trust, after putting it on the market with an £89.4m price tag. Read more: Debate: Should illiquid assets be [...]
EU Commission unveils ‘European Green Deal’ in Brussels December 11, 2019 The president of the EU Commission today in Brussels set out the details of her long-expected “European Green Deal”, as the UN climate summit continues in Madrid. Ursula von der Leyen described the plan, which would make the EU the world’s first climate neutral continent by 2050, as Europe’s “man on the moon moment.” Read [...]
M&C Saatchi shares tumble after boardroom bloodbath December 11, 2019 Shares in M&C Saatchi tumbled almost six per cent today as investors reacted to a boardroom bloodbath that sent shockwaves through adland. Lord Maurice Saatchi, who founded the advertising behemoth, last night announced that he was stepping down as executive director. Read more: Lord Saatchi steps down from M&C Saatchi Fellow Conservative grandee Lord Dobbs, [...]
Credit Suisse cuts profit targets and pivots away from coal December 11, 2019 Credit Suisse faces missed targets and losses next year, after the bank cut its profitability target for 2020. The Swiss bank expects return on tangible equity – a profitability metric – to be over eight per cent, a drop from previous expectations of 10-11 per cent. Read more: Credit Suisse profit doubles amid rise in [...]
Telefonica shuns security fears as it picks Huawei for German 5G network December 11, 2019 Telefonica Deutschland has tapped Huawei to build its 5G network in Germany, despite concerns that the Chinese telecoms firm could pose a threat to national security. Germany’s second-largest mobile company today said it will slash its dividend almost 40 per cent as it prepares to pump money into the new network, which will also use [...]
Election 2019: Sterling rises as traders await vote December 11, 2019 Sterling has risen against the dollar ahead of tomorrow’s General Election, recovering the ground it lost yesterday after a closely-watched poll halved the Conservative party’s expected majority. The rise continues the growth spurt sterling has been through since the start of December, which has been driven by polls predicting a Tory election victory. Traders by [...]
General election: Tories to have lower primary vote than in 2017, new poll warns December 11, 2019 Pollsters who correctly predicted President Donald Trump have forecast that the Tories will win fewer votes tomorrow than under Theresa May in 2017’s disastrous election. Polling from FTI Research predicts the Conservatives’ primary vote will fall from 42.4 per cent in 2017 to 40 per cent in tomorrow’s General Election. Read more: Election 2019: Leaders [...]
AA shares leap as firm plans bond buyback December 11, 2019 Shares in motoring association the AA jumped 15 per cent today after the company announced a possible share buyback after a positive first half. The company, which provides insurance, driving lessons and breakdown cover also said it intends to pursue a range of debt tenders, redemptions and issuances over the coming months. Read more: Supercuts [...]