General Election 2019: Sajid Javid pledges ‘new fiscal rules for a new economy’ November 7, 2019 Chancellor Sajid Javid has confirmed a Conservative government would deploy new fiscal rules to create a “decade of renewal”. Speaking from Labour safe seat Wythenshaw Javid said the 2020s would be “Britain’s best decade yet”, and confirmed the introduction of new fiscal rules, so that the government can borrow without being irresponsible. Read more: Labour [...]
General Election 2019: Labour to shift ‘powerful section of Treasury’ to North November 7, 2019 A Labour government would shift a “powerful section of the Treasury” out of London to the north of England, John McDonnell will say today. Speaking in his home city of Liverpool, the shadow chancellor will detail plans to move the “centre of the gravity in political decision-making and investment” out of the capital. In his [...]
Auto Trader revs up profit despite car market challenges November 7, 2019 Auto Trader – the UK’s largest new and used cars marketplace – reported a jump in revenue and profit in the first half of the year despite the challenges facing the UK car industry. The figures Shares in Auto Trader jumped as much as five per cent after the online car dealer reported that revenue [...]
General Election 2019: Liberal Democrats, Green and Plaid Cymru ‘Unite to Remain’ pact for 60 seats unveiled November 7, 2019 The Liberal Democrats, Green Party and Plaid Cymru have struck a deal in which the parties will step aside for the most likely Remain candidate in 60 seats across England and Wales. Jo Swinson’s party will be given a clear run at 43 constituencies, including Bermondsey and Old Southwark, Chelsea and Fulham, Esher and Walton, [...]
RSA shares up on underwriting profit boost November 7, 2019 Shares in insurer RSA rose today after it announced underwriting profit had grown in the first nine months of the year. The FTSE 100 company said operating profit rose in the first nine months of the year, but did not publish third quarter numbers. RSA’s shares rose 3.3 per cent to 550p this morning. Read [...]
Bovis Homes agrees £1.1bn deal for Galliford Try housing business November 7, 2019 Bovis Homes has agreed to snap up Galliford Try’s housing arm for almost £1.1bn. The housebuilders have shaken hands on a deal that will see Bovis stump up £300m cash and £675m in shares to acquire Linden Homes and Galliford Try Partnerships & Regeneration. Read more: Uncertain times are leading to London property microclimates The [...]
General Election 2019: Ex-Labour MP Ian Austin urges ‘decent’ people to vote Conservative November 7, 2019 Former Labour MP Ian Austin has urged voters to back the Conservatives this election, claiming Jeremy Corbyn is “completely unfit” to be Prime Minister. The Dudley North MP, who resigned from the party earlier this year to sit as an independent, said “decent, traditional” voters should back Boris Johnson in December’s General Election. He lambasted [...]
Changing times: Market leaders and investor groups call for shorter working day on trading floors November 7, 2019 The daily bustle on Europe’s high-octane trading floors should be cut short by more than an hour in a bid to improve mental health and diversity, two of the financial industry’s most influential bodies have urged this morning. The London Stock Exchange (LSE) has said it will begin a formal consultation looking at working hours [...]
Co-op bank losses widen in wake of PPI costs and fierce mortgage market November 7, 2019 The Co-operative Bank has reported widening losses during the third quarter of this year, as it became the latest in a long line of lenders to take a financial hit from the payment protection insurance (PPI) scandal. The British bank reported losses before tax of £118.6m during the nine months to 30 September, deepening from [...]
Rolls Royce expects profit at lower end of guidance range as engine woes continue November 7, 2019 Engineering company Rolls Royce said today it expected full-year profit to be in the lower end of its guidance as it continued to struggle with the Trent 1000 engine. The company said it was likely to take a £1.4bn charge to full-year operating profit because of troubles with the engine. It said it expected total [...]