MPs attack government over lack of post-Brexit investment policy July 30, 2019 MPs have strongly criticised the government for failing to prepare a policy on international investment agreements ready for Brexit, which the new administration has pledged will happen “come what may” on 31 October. Read more: Dominic Raab: Britain ‘turbo-charging’ no-deal Brexit preparations The International Trade Committee (ITC) said it was “alarmed” that ministers have not [...]
Number of UK firms in ‘significant distress’ rises July 30, 2019 The number of UK businesses facing “significant distress” has increased as consumer spending slumps due to ongoing uncertainty. In total, 14 per cent of all UK businesses – 484,000 – said they were experiencing significant distress at the end of June, with the leisure and retail industries hit the hardest. Read more: Consumer spending to [...]
Jupiter’s assets up under new boss as outflows begin to slow July 30, 2019 Jupiter Fund Management has seen a modest first-half improvement under new chief executive Andrew Formica, but the company is still recovering from the loss of a star fund manager earlier in the year. The company’s half year results showed an 8 per cent increase in assets under management, but outflows of client cash continued in [...]
Mark Carney misses the cut for IMF top job shortlist July 30, 2019 Bank of England governor Mark Carney has failed to make it on to the shortlist of candidates to lead the International Monetary Fund (IMF), according to reports. Read more: IMF chief Christine Lagarde among surprise picks for EU top jobs Negotiations to find a European Union candidate are being led by France, which has narrowed [...]
Cafe Coffee Day founder VG Siddhartha goes missing July 30, 2019 The founder of Indian Starbucks rival Cafe Coffee Day has gone missing after reportedly facing pressure from activist shareholders. Local media outlets reported that VG Siddhartha was on his way to the port city of Mangaluru when he asked his driver to wait for him on a bridge and never returned. Shares in coffee day [...]
Huawei shrugs off US blacklisting with strong first half revenue growth July 30, 2019 Huawei has posted a sharp rise in revenue for the first half, despite the US’s attempts to cripple its global trading. President Donald Trump has added the Chinese firm to a trade blacklist, effectively blocking it from doing business with American companies. Read more: US sanctions blamed for Huawei 5G decision delay But the move [...]
Alastair Campbell says he does not want to rejoin Corbyn’s Labour July 30, 2019 Tony Blair’s former spin doctor Alastair Campbell has said he does not want to rejoin the Labour party after he was expelled for voting for the Liberal Democrats in May’s European elections. Campbell, a former political journalist who served as the former Prime Minister’s chief press secretary until 2000, said he did not want to [...]
Virgin Money owner CYBG share price falls as it warns of softer full-year margins July 30, 2019 Shares in CYBG are down over 11.5 per cent this morning after the challenger bank warned that net interest margins (NIM) were likely to be at the lower end of its forecast. Read more: CYBG to rebrand as Virgin Money to ‘disrupt status quo’ of UK banking The group, which owns Virgin Money, stood by [...]
High-yielding BP shares chased higher after results July 30, 2019 | City Talk It’s a great income stock, and these numbers justify investor interest, writes our head of markets. BP’s (LSE:BP.) strategy is a marathon, not a sprint, and this latest update for the second quarter and half-year shows that the company remains reassuringly on track. Underlying replacement cost profit was strongly ahead compared to the previous quarter and [...]
Eurozone business confidence at six-year low as malaise continues July 30, 2019 Business confidence in the Eurozone economy reached an almost six-year low in July, with industrial sentiment falling significantly, a European Union survey showed today. Read more: ECB prepares stimulus to kickstart Eurozone economy Yet consumers became more positive, continuing the trend of domestic demand propping up euro area economies. The business climate indicator by the [...]