Financial data platform Refinitiv Eikon suffers ‘major incident’ before London market opening May 14, 2019 Financial data terminal Refinitiv Eikon was hit by a “major incident” this morning as investors were unable to log in ahead of the London market opening. The problem began shortly before 5am and prevented worldwide user from accessing the data hub, the Financial Times reported. Read more: City of London Corporation names Refinitiv boss as [...]
UK wages rise again as employment rate stays at record high says Office for National Statistics May 14, 2019 UK wages rose 3.2 per cent in the year to March, slightly down from a 3.5 per cent rise in the month before, data showed today as the unemployment rate hit an almost 45-year low. Read more: UK inflation rate holds steady sending Britons' real wages higher Average weekly earnings climbed 1.3 per cent year [...]
Pub operator Ei Group’s profits rise thanks to drinks sales boost May 14, 2019 Pub chain Ei Group has posted a modest rise in pre-tax profit for the half year thanks to continued growth in drinks sales. Ei, which is the largest owner and operator of pubs in the UK, posted pre-tax profits of £59m in the six months to the end of March, up from £57m in the [...]
Insurance giant Allianz posts first quarter profit boost to beat expectations May 14, 2019 German insurer Allianz said today its net profit for the first quarter rose slightly, ahead of market expectations. Its results were boosted by lower claims for natural disasters but it said high expenses due to investments had led to a decline in operating profit in its asset management business. Operating profit increased 7.5 per cent [...]
Four ways passive investing has altered the markets May 14, 2019 Ever since the first exchange-traded fund (ETF) listed in Europe 19 years ago, passive investing has proved hugely popular. ETFs are traded like stocks, and simply track the big indices like the FTSE 100 or the Dow Jones, as opposed to having a fund manager cherry-pick individual companies for you. And with the lowest annual [...]
Nationwide scoops £50m prize for small business lending May 14, 2019 Nationwide has won the latest round of funding from a high-profile grant designed to boost small business lending in the UK, pocketing the top £50m prize. Read more: Nationwide invests in ex-Barclays CEO's firm to boost business banking Investec and the Co-operative Bank were also named as winners, taking home £15m each. The awards, handed [...]
Underground misery strikes commuters as severe delays hit four Tube lines May 14, 2019 Severe delays hit four Tube lines this morning as signal failures brought commuters’ journeys into London grinding to a near standstill. Read more: Multiple Tube lines struck with severe delays Disruption plagued the Circle and Hammersmith & City lines after a signal failure at Farringdon this morning, with Transport for London (TfL) advising passengers that [...]
Vinci completes takeover of majority stake in Gatwick after £2.9bn deal May 14, 2019 French group Vinci Airports has completed its takeover of a majority stake in London’s Gatwick, it said this morning, making it the world’s second largest airport operator. The £2.9bn deal, which was announced in December, gives Vinci a 50.01 per cent stake in an airport used by 46m passengers every year. Read more: Gatwick sold [...]
UK becomes world’s top fintech hub as startups rake in £4.5bn May 14, 2019 The UK is the world’s top fintech hub with high-growth firms attracting more than £4.5bn in investment over three years, it emerged today. London continues to lead the country in attracting high-growth tech investment, receiving £9bn between 2015 and 2018, followed by Cambridge with £583m, according to a new report by startup body Tech Nation. [...]
Renishaw shares dive after second profit warning May 14, 2019 Renishaw shares crashed more than seven per cent this morning after it unveiled its second profit warning in two months. The Ftse 250 healthcare technology group said adjusted profit before tax in the nine months to 31 March was down 18 per cent at £79.6m. Read more: Renishaw shares plummet as it issues profit warning [...]