London’s creative industries provides £40bn spending boost to economy: new report October 15, 2019 London’s creative industry sector adds £40bn a year to its various supply chains, according to a new report. Previous figures from the Department for Digital, Culture, Media and Sport indicated that creative industries boosted London’s economy by £52bn. Read more: Anna at the National Theatre review However, a new report – commissioned by mayor of [...]
JP Morgan shares rise as strong consumer trading boosts third-quarter profit October 15, 2019 Shares in JP Morgan rose almost 2.5 per cent this afternoon after strong trading in its consumer division helped drive third-quarter profit growth. The bank posted net profit of $9.1bn (£7.2bn) or $2.68 per share, up eight per cent on last year and ahead of analysts’ estimates. Revenue also rose eight per cent to hit [...]
Ofgem says it will cut National Grid’s Hinkley Point C funding by £80m October 15, 2019 Energy regulator Ofgem said today it would give National Grid £636m to build the transmission line for the Hinkley Point C nuclear plant, lower than the £717m requested by the company. Ofgem said it rejected £40m in risk funding that National Grid has requested. The regulator said National Grid may be able to seek extra [...]
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, [...]