Mapped: All the stations that will be shut for the upcoming Tube strike February 2, 2017 Deep breath, one and all. As it stands, another Tube strike (well two actually) is going to give the capital's commuters more to grumble about next week. The planned walkouts by the RMT union over ticket office closures and job cuts will affect services from 6pm on Sunday 5 February to 11am Wednesday 8 February. Read more: There's [...]
Output in the UK’s construction industry grew unexpectedly slowly in January February 2, 2017 The pound fell off its highs this morning after figures revealed output in the UK's construction industry had grown unexpectedly slowly in January – suggesting the sector's tentative recovery is swiftly running out of steam. Markit's purchasing managers' index for the construction industry dropped to 52.2 in January, from 54.2 in December and against expectations of 53.8. Any figure [...]
British Airways ramps up its Greek island routes from London City Airport February 2, 2017 It's only just announced a flurry of new Manchester and Stansted routes. But British Airways hasn't stopped there: it's now ramping up attention on London City Airport, saying it'll be offering nearly two million seats from the Royal Docks-based airport. It has launched a new three times a week service to Greek island Skiathos, making it [...]
Bringing back the bonuses: Deutsche Bank chief executive hopes 2016 a one-off year for annual sweetener slashing February 2, 2017 Deutsche Bank's boss has his fingers crossed it can offer staff a better bonus deal this year, after the bank was forced to slash annual sweeteners significantly for 2016. When grilled on bonuses at a press conference for Deutsche Bank's annual results, John Cryan said: "We hope to resume normal service in 2017." The bank had a turbulent [...]
Aberdeen Asset Management shares tumble on 15th consecutive quarter of outflows February 2, 2017 Aberdeen Asset Management’s shares fell five per cent on Thursday morning after the FTSE 250 firm reported outflows as investors were spooked by the US presidential election. The figures The company reported assets under management of £302.7bn at 31 December, down three per cent from £312.1bn on 30 September last year. Net outflows of £10.5bn were only [...]
Here’s how analysts are reacting to Reckitt Benckiser’s move to acquire Mead Johnson February 2, 2017 Just as analysts were digesting the news that Tesco and Booker Group are merging, Reckitt Beckiser (RB) has revealed that it is in talks to snap up US group Mead Johnson. The deal values Mead Johnson – which manufactures baby milk – at $16.7bn. Mike van Dulken of Accendo Markets said RB was making the move to access the [...]
Here’s how much you need to save each month if you want to buy a home in London in the next four years February 2, 2017 If you're a first-time buyer in London hoping to get yourself somewhere to call home in the next four years, look away now – for a new study has suggested the average first-time buyer should be saving £2,300 each month if they want to buy a house in the capital by 2021. Yikes. The National Housing [...]
Uber is “pressing pause” on Taiwan business after government pressure February 2, 2017 Things are heating up in Taiwan. Uber has suspended its services there over an ongoing rift with the government, which deems the ride-hailing app illegal. In a blog post on the company's site, Uber said it was "pressing pause in Taiwan" after reaching an "impasse", saying the government sought to move "further and further away from embracing [...]
More than Just enough: JRP beats market expectations for margins and its own on costs February 2, 2017 Shares in specialist insurer JRP Group jumped over four per cent on the news profit margins had beaten guidance and the group's merger with Partnership Assurance is delivering better than expected results. The figures New business numbers for the full year were down by 11 per cent at £2.4bn. The primary driver of this was [...]
Here’s why Chrysaor is buying up Shell’s North Sea assets February 2, 2017 The sector is starting to discuss the return of big oil and gas M&A the last several weeks. And yesterday we got more confirmation it’s “money on” right now in the global petroleum sector — with one of the biggest single deals in years coming down in an unexpected place. From a virtually unknown acquirer — [...]