Arbuthnot profits rise as it targets growth after capital raising July 17, 2019 Arbuthnot Banking Group reported an uptick in profits during the first half of 2019, following a major capital-raising plan to achieve future growth. The historic private and commercial bank, which is listed on London’s Alternative Investment Market (Aim), reported pre-tax profits of £2.9m in the six months to 30 June, rising from £1.2m in the [...]
Tepid Eurozone inflation stays well below ECB target July 17, 2019 Eurozone inflation rose to 1.3 per cent in the year to the end of June, official figures showed today, but was still well off the European Central Bank’s (ECB) two per cent target. Read more: Eurozone retail sales see surprise fall in May The weak rise in prices will bolster market expectations that the ECB [...]
France joins US and UK in warning over Facebook’s libra July 17, 2019 France has joined the US and UK in saying strong regulations must be in place before Facebook goes ahead with creating its proposed libra digital currency. Read more: US senators grill top exec over Facebook’s libra cryptocurrency The warning came as G7 finance ministers converged on the French town of Chantilly for a two-day meeting [...]
Retailer Koovs hangs hopes on 2020 growth despite drop in sales July 17, 2019 Indian fashion retailer Koovs said it is on track for a return to growth in 2020, despite a decline in sales over the last 12 months. The London-listed firm posted net sales of £7.5m in 2019, down from £9.6m the previous years, while revenue was flat at £6.4m. Shares in Koovs dropped more than six [...]
Thunderstorms set to hit Brits over the weekend July 17, 2019 London looks set to escape the worst of the bad weather this weekend as thunderstorms will batter parts of the country, Met Office experts have said. Stronger winds and spells of heavy rain are expected to hit many in the UK on Friday, the Met Office said. Read more: Hottest day of the year forecast [...]
Will the Bank of England raise or cut interest rates after UK inflation data? July 17, 2019 UK inflation has grown at an annual rate of two per cent for the second month in a row, official statistics confirmed today. Read more: UK inflation stays at Bank of England two per cent target The consumer price index (CPI) figure is bang on the Bank of England’s target. It thinks two per cent [...]
BT agrees £210m sale of London headquarters July 17, 2019 BT has agreed the sale of its London headquarters as it pushes ahead with a radical turnaround plan. Read more: BT may cut dividend to fund full-fibre rollout The telecoms giant today said it has sold the BT Centre, its home since 1984, to Orion Capital Managers for £209.6m. The deal for the 300,000 square [...]
Chris Grayling admits Cabinet overruled him on Eurotunnel ferry settlement July 17, 2019 Transport secretary Chris Grayling has said he personally wanted to fight Eurotunnel’s legal challenge against the government’s no-deal Brexit ferry strategy in court but that Cabinet collectively decided to settle it. In what was most likely his last appearance before the Transport Select Committee, Grayling was asked why the Department for Transport (DfT), which he [...]
Philip Hammond says it is ‘terrifying’ Jacob Rees-Mogg is close to being in the next government July 17, 2019 Philip Hammond has warned it is “terrifying” that leading Brexiter Jacob Rees-Mogg will have influence in a future government during a row over leaving the EU without a deal. The Chancellor issued the scathing assessment of his Conservative colleague after Rees-Mogg penned an article downplaying suggestions a no-deal Brexit would make the UK poorer. Hammond [...]
Euromoney share price drops on ‘challenging’ quarter July 17, 2019 Shares in media group Euromoney fell more than three per cent this morning after it warned of challenges in its asset management division. Read more: Daily Mail shares jump following Euromoney shareholder giveaway The business and finance publication posted revenue of £112m for the three months to the end of June, up marginally on £108m [...]