Crossrail begins dynamic testing on the Elizabeth Line after series of delays and setbacks January 14, 2019 Crossrail began operating test trains on the Elizabeth Line today, allowing a crucial part of the project to get back on its feet after months of delays and setbacks. Main dynamic testing is the process by which trains are operated in the tunnels to test the new signalling systems to ensure the trains are safe and [...]
CapitaLand to buy real estate group in Asian mega-deal January 14, 2019 Plans to create Asia’s largest real estate investment manager were revealed today after Singapore’s CapitaLand said it will pay $8bn (£6.2bn) to buy logistics and industrial assets from Temasek. The Singaporean developer is purchasing the holding companies for a combination of cash and stock from the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate [...]
Are Britain’s banks close-minded to Open Banking? January 14, 2019 Lauded as the start of a new revolution in banking, Open Banking was expected to take the financial world by storm when it was introduced almost a year ago to the day. The set of new rules require that the big banks allow their customers to share their own transaction data with third parties. Specifically designed to open [...]
US bank Citi reports revenue fall after Wall Street’s dreadful December hits fixed income trading January 14, 2019 US bank Citi has reported a surprise fall in revenue as Wall Street’s volatile December slashed income on its bond trading division by 21 per cent. The third-largest US bank said revenues fell two per cent to $17.1bn (£13.3bn) in the three months to December, below expectations of $17.6bn. Read more: Wall Street shares plummet after [...]
Premier slips on oil spill as financing reports hit share price January 14, 2019 Premier Oil tried to calm stormy markets today as its shares dropped as much as 12.5 per cent after reports it was considering issuing more shares to buy oil fields in the North Sea. The company said it was looking at potential sites in the UK, but stressed it had not yet decided to bid [...]
UK advertising sector faces recession in the event of a no-deal Brexit January 14, 2019 The UK advertising sector could suffer its first recession since 2009 in the event of a no-deal Brexit, a new report has warned. Research by Enders Analysis estimates ad spend in 2019 would fall three per cent if the UK leaves the EU without an agreement in place. The decline would be the worst in [...]
Newmont forms world’s largest gold miner with $10bn deal for Goldcorp January 14, 2019 Newmont Mining Corporation will balloon to become the world’s largest gold company as it buys Goldcorp in a deal valued at $10bn (£7.8bn). The share-based deal will produce a new global behemoth, bringing together two companies who produced a combined 7.9m ounces of gold in 2017, giving it strong leverage over global gold prices. Read more: Shareholders [...]
Pret A Manger and Krispy Creme owner Jab Holdings’ chairman Bart Becht announced retirement January 14, 2019 Bart Becht has resigned as chairman of Jab Holdings, which owns businesses including Keurig Dr Pepper and Pret A Manger. The company, which also owns the Douwe Egberts coffee brand and Krispy Kreme Doughnuts, will continue to be run by chief executive Olivier Goudet and senior partner Peter Harf, who will be joined by three new [...]
Eurozone industrial production suffers sharpest fall in almost three years led by Germany’s slowdown January 14, 2019 Eurozone industrial production suffered its sharpest fall in almost three years in November led by Germany’s economic slowdown, as the single currency bloc’s woes continued. Euro area production fell 1.7 per cent in November compared with the previous month, the EU’s statistical office Eurostat said, the sharpest monthly drop since February 2016. Read more: Eurozone sentiment [...]
Shares in Debenhams dive as woes show no sign of abating January 14, 2019 The falling share price of embattled department store chain Debenhams showed no sign of a let up this afternoon as its stock value plunged a further 12 per cent. The retailer’s share price plummeted amid reports that as many as 90 of its high street stores could be up for closure, putting 10,000 jobs at [...]