Bank of England’s Mark Carney defends move not to publish governor shortlist October 15, 2019 Bank of England governor Mark Carney has defended the application process to lead the central bank and suggested that too much transparency would discourage people from applying. Carney is due to step down in January and MPs and pressure groups have called on chancellor Sajid Javid to publish the short list of candidates to allow [...]
Blame game: Thomas Cook bosses point finger at government as MPs slam high pay October 15, 2019 Former Thomas Cook bosses have pointed the finger at the government for failing to stump up emergency cash to keep the firm trading last month, in a heated evidence session with MPs. Members of the collapsed holiday giant’s board, including chairman Frank Meysman and chief executive Peter Fankhauser, were today hauled in front of MPs [...]
Financial Conduct Authority clamps down on motor financing commissions October 15, 2019 The UK’s financial regulator is set to crackdown on motor financing commissions in an attempt to save drivers £165m a year. The Financial Conduct Authority (FCA) announced today it would ban how some auto dealers and brokers structure their sales commissions. Read more: Financial Conduct Authority sawn raids nearly doubled in 2018 The FCA said [...]
Goldman Sachs misses profit forecasts amid slump in advisory fees October 15, 2019 Goldman Sachs has missed Wall Street estimates for quarterly profit, amid fewer fees from advising on deals. Revenue at three of its four major business units fell in the most recent quarter, led by declines in investment banking due to fewer mergers and stock market floats. Goldman shares fell three per cent this afternoon. The [...]
Shares in under-fire drugmaker Indivior tick up after positive forecasts October 15, 2019 Shares in opioid addiction drugmaker Indivior rose today after it raised its full-year forecast on better-than expected sales. The firm’s share price has been battered this year after its best-selling drug Suboxone faced competition from cheaper generic rivals in the US. Read more: Indivior share price crashes 70 per cent after allegations of fraudulent drug [...]
IMF warns 2019 global growth will fall to lowest since financial crisis October 15, 2019 Global economic growth will be just three per cent this year, the International Monetary Fund (IMF) has predicted, its lowest level since the financial crisis and a downgrade from the organisation’s April prediction. Read more: IMF chief says trade wars to cost global economy $700bn The “big four” developed economies of the US, China, the [...]
Polystyrene: The turnaround from misperception to circularity success October 15, 2019 | Sponsored Image: Polystyrene’s circularity in action with Agilyx’s recycling technology at the Regenyx facility in Tigard (photo by Agilyx). Polystyrene is very widely used, with approximately 800.000 tons sold into the European Union packaging market every year and several million tonnes of virgin polystyrene produced globally every year. It lends itself well to safe food packaging, [...]
Garden Bridge Trust awarded £21m in contracts ‘prematurely’ and ‘recklessly’ October 15, 2019 Backers of the abandoned Garden Bridge awarded £21m in construction contracts before getting key land and building permits, according to a new report. The report, from the London Assembly’s Garden Bridge Working Group, details the “reckless” spending of the Garden Bridge Trust (GBT) and Transport for London (TfL) on the failed £53m project. Read more: [...]
Shore Capital delists from Aim stock market October 15, 2019 Shareholders have voted to remove Shore Capital from London’s Aim stock market in a crunch vote today. The broker will now stop public trading of its shares after 81.7 per cent of investors backed the motion. Read more: Shares slide as Shore Capital moots quitting Aim market Shore Capital needed at least 75 per cent [...]
Bellway shares slump after warning on growth October 15, 2019 Shares in house builder Bellway slumped more than five per cent this morning as it warned of a slowdown in house price growth and climbing building costs. Profit increased at the FTSE 250 firm but Bellway said it expected to deliver more moderate growth in the coming year. Read more: Bellway posts strong spring sales [...]