Government to ditch £15.7bn worth of Bradford and Bingley mortgage assets October 25, 2016 The government confirmed today it has kicked off the process of selling £15.7bn worth of Bradford and Bingley mortgage assets. The sale, which will be conducted by UK Asset Resolution Limited (UKAR), will allow Bradford and Bingley to repay money it owes to the Financial Services Compensation Scheme, which will, in turn, repay a corresponding loan to the Treasury. [...]
Grayling says expanded Heathrow demands better regional connectivity October 25, 2016 Transport secretary Chris Grayling has promised a new runway at Heathrow will generate better air transport links inside the UK. Announcing the government's support for a new runway at the site in the House of Commons, Grayling said the expanded airport will provide six more domestic routes across the UK by 2030, including to Scotland, [...]
Anglo American share price lifts as most guidance goes unchanged but copper production drags at the mining giant October 25, 2016 Anglo American shares rose more than three per cent today, after the troubled miner said most of its output guidance was broadly unchanged on the last quarter. The figures The FTSE 100-listed group made mixed progress with an ongoing plan to streamline the company to focus on copper, diamonds and platinum. Production at Anglo's diamond business, De Beers, increased [...]
The winners and losers of Heathrow expansion October 25, 2016 The airport expansion decision has finally been made, with Heathrow getting the go-ahead after numerous delays. And while many have welcomed the announcement, others haven't been quite so supportive. Here are some of the biggest winners and losers of the government's decision. WINNERS Heathrow (obviously) It's been a tense wait for the airports involved, with [...]
Carpetright’s share price is slightly up despite saying that the fall in the pound is squeezing margins October 25, 2016 Carpetright's share price nosed-up around one per cent today despite saying that the weakened pound is impacting profitability across its 429 UK stores. Updating the market on half-year performance, the Purfleet-based company said costs had increased as a result of sterling's post-Brexit slump and that gross profit margins – the excess that it can sell items over their cost [...]
Boris Johnson says third runway at Heathrow “will be stopped” October 25, 2016 Foreign secretary Boris Johnson has said a third runway at Heathrow is "undeliverable", after the government gave the airport's expansion plan the green light earlier today. "I think it very likely it will be stopped," Johnson added. The former London mayor has been set against expansion of the west London airport for years now. He previously [...]
Before the bell: What you need to know before the US market open October 25, 2016 Apple sales are expected to fall sharply and Twitter is planning another round of job cuts. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher ahead of the open, though only slightly. The S&P is up by 0.09 per cent, the Nasdaq is 0.14 per [...]
Syngenta shares begin to recover as chief exec eases regulatory fears over ChemChina deal October 25, 2016 ChemChina and Syngenta remain confident that their $43bn (£35bn) deal will close despite regulatory doubts, Swiss company’s chief executive has said. Concerns around China’s biggest ever foreign acquisition arose this week after the European Commission said it had not been offered concessions by the companies by the 21 October deadline. Syngenta’s share price fell nine per [...]
Hammond says he will prioritise financial services in the upcoming Brexit talks October 25, 2016 Philip Hammond has again moved to reassure the City that the government will prioritise financial services in the upcoming Brexit discussions with the European Union. The chancellor told MPs in the Commons this morning that he understood the City's need to have continued access to the single market and to hire skilled people to work in [...]
Deutsche Bank share price dips on reports mega $14bn fine settlement has been delayed October 25, 2016 Deutsche Bank's shares dropped again today, as investors digest reports that the bank's settlement of a potential mega fine has been delayed. The German lender's share price is currently down 2.3 per cent at €13.00, having been on a rollercoaster ride ever since it was announced the US Department of Justice (DoJ) could hit it with a fine for as [...]