City watchdog proposes mortgage shake-up to boost consumer choice May 7, 2019 The Financial Conduct Authority (FCA) today announced changes to mortgage advice rules to try and increase choice for consumers. The City watchdog identified a number of ways its advice rules are acting as a barrier to the development of new tools to help consumers choose and buy a mortgage and the new rules are aimed [...]
Axel Springer profits plunge as it looks to refocus on classifieds business May 7, 2019 German media group Axel Springer has posted a sharp drop in first-quarter profits, as strong trading in its online classifieds business failed to offset a decline in news media. Read more: Virgin Media grows customer base amid superfast broadband rollout The figures Net profit dropped by 35 per cent to €55.4m (£47.4m) in the first [...]
European stocks continue downward slide as US-China trade tensions flare May 7, 2019 The FTSE 100 hit a one-month low today as European stocks continued to be dragged down by the ramping up of trade tensions between the US and China. Read more: Global markets in tailspin after Trump threatens huge China tariff rise In the first trading done since the bank holiday weekend, the UK benchmark fell [...]
Vodafone signs broadband deal with Telefonica Deutschland amid competition probe May 7, 2019 Vodafone will grant Telefonica Deutschland access to its broadband network in a bid to stave off competition concerns over its $22bn (£16.8bn) takeover of Liberty Global assets. The telecoms firm today said rival Telefonica will be able to market broadband services to its customers using the combined cable network of Vodafone and Liberty’s Utilitymedia if [...]
Insurer Hiscox grows premiums as London market rates improve May 7, 2019 Insurer Hiscox grew gross written premiums in the first three months of the year as rates improved in the London market. The Lloyd's of London insurer said gross written premiums grew 3.3. per cent in constant currency to $1.164bn (£890m) in the first quarter. Read more: German insurer Allianz close to deal for L&G's general insurance [...]
Theresa May to meet Tory committee chair amid calls to name departure date May 7, 2019 Theresa May is due to meet the chair of the Tories influential backbench committee today as she comes under renewed pressure to name her departure date. The Prime Minister will meet Sir Graham Brady to discuss her future after a number of local Tory associations confirmed they will hold a vote of no confidence in [...]
G4S shares fall after Canadian rival mulling buyout says: ‘We’re not interested’ May 7, 2019 Shares in security giant G4S dipped this morning after it emerged Canadian rival Garda World had decided against a potential takeover deal over the bank holiday. Read more: G4S shares rocket as Garda World considers takeover bid G4S said it acknowledged Garda’s decision, adding it had not received any requests to extend the 8 May [...]
Virgin Media grows customer base amid superfast broadband rollout May 7, 2019 Virgin Media has posted a solid set of results for the first quarter as it focuses its efforts on a £3bn plan to rollout superfast broadband across the UK. Read more: Vodafone calls on German government to speed up fibre optic rollout The figures First-quarter revenue remained flat on the previous year at £1.3bn. Operating [...]
Thomas Cook shares soar following Lufthansa bid for airline business May 7, 2019 Shares in Thomas Cook have soared by more than 12 per cent this morning following Lufthansa's decision to bid for its Condor airline business. The German airline Lufthansa is to make a non-binding offer for Thomas Cook's Condor airline business, according to its chief executive Carsten Spohr. Shares were up 12.13 per cent at the time of writing. [...]
Kier finance boss steps down after year of money worries for construction firm May 7, 2019 Shares in embattled construction outsourcer Kier Group fell sharply this morning after it announced its finance boss will quit later this year. Read more: Kier to build £253m prison for Ministry of Justice Bev Dew, who earlier this year stayed in post amid the ousting of chief executive Haydn Mursell by a rebel shareholder group, [...]