PM to wave through Corbyn’s election meeting request October 7, 2019 The Prime Minister is backing a request by Labour leader Jeremy Corbyn to hold a series of meetings with senior civil servants, as the two parties edge towards calling a snap election. According to Politico, the leader of the opposition has requested these meetings, in the event that he forms a government in the coming [...]
Schroders and Lloyds JV appoints IG Group boss as CEO October 7, 2019 The wealth management joint venture between Schroders and Lloyds Banking Group has appointed former IG Group boss Peter Hetherington as its new chief executive. Hethrington worked at IG for 25 years after joining the firm as a graduate trainee and spent 13 years as its chief operating officer and executive director before taking the top [...]
Angling Direct records 21 per cent rise in H1 sales October 7, 2019 The UK’s largest fishing retailer Angling Direct has defied High Street trends by recording a significant rise in first-half sales. Angling Direct recorded £26.6m of sales in the six months to September, which represented a 21 per cent annual increase. Read more: Angling Direct pushes ahead with expansion plans This was underpinned by a 41 [...]
NBA slammed for ‘shameful retreat’ over Hong Kong protest tweet October 7, 2019 The National Basketball Association (NBA) has come under fire after distancing itself from comments made by one of its team’s senior executives in support of protests in Hong Kong. Daryl Morey, general manager of the Houston Rockets, was forced to apologise after his hastily-deleted tweet sparked anger in Beijing. Read more: Hong Kong: Government bans [...]
Weaker European market expected to be at centre of potential HSBC job cuts October 7, 2019 HSBC’s under-pressure European business is expected to bear the brunt of potential job cuts being made by the bank. The lender is understood to be looking at cutting between 5,000 and 10,000 jobs as part of a cost-cutting drive under interim boss Noel Quinn. Read more: The next BofE governor must be prepared for a [...]
Gloom thickens over Eurozone economy as German factory orders tumble October 7, 2019 German recession fears have been pushed up a notch after factory orders plunged by more than expected in August, continuing the economy’s dire 2019. Read more: Eurozone recession risk ‘very real’ with services close to stagnation New orders from German factories fell by 6.7 per cent in the year to August, Germany’s statistics body said [...]
M&G Prudential backs London with £875m investment in City skyscraper October 7, 2019 M&G Prudential has backed London with a multimillion pound investment in a new Square Mile skyscraper development. The firm has invested £875m to buy and develop the 40 Leadenhall site – nicknamed Gotham City – which is expected to be constructed in the next four years. Read more: Batman-inspired skyscraper set for approval M&G Prudential [...]
BBC tried to block Ofcom probe into Naga Munchetty impartiality row October 7, 2019 Ofcom has slammed the BBC’s “lack of transparency” after the broadcaster attempted to block the regulator’s investigation into an impartiality row. BBC director general Tony Hall last week reversed the corporation’s decision to partially uphold a complaint into Breakfast presenter Naga Munchetty over her comments about US President Donald Trump. Read more: BBC plots iPlayer [...]
UK insolvency rates tipped to grow by 10 per cent in 2019 October 7, 2019 Global insolvency rates are rising for the first time since the aftermath of the 2008 financial crash with the UK expected to be the worst hit, according to a multinational insurance company. An insolvency outlook report by Atradius forecasts business failure rates will increase by 10 per cent this year in Britain and by 2.7 [...]
Chinese success propels Mercedes-Benz to record third-quarter sales October 7, 2019 Mercedes-Benz enjoyed record sales in the third quarter, despite a slowdown in the global automotive market, as a strong showing in China boosted the German luxury brand. The Stuttgart-based manufacturer sold 181,233 cars in China in the three months ending in September, a nearly 13 per cent increase. Read more: Daimler in fourth profit warning [...]