Wells Fargo sets aside even more to deal with the fallout from its accounts scandal November 3, 2016 Wells Fargo revealed today that up to $1.7bn (£1.4bn) has been set aside to deal with legal costs from its fake accounts scandal. The troubled financial giant's filings were not fun reading for investors – barely a week after it announced it would be paying out $185m for a fine to settle allegations that employees had created [...]
The Bank of England’s response to the uncomfortable dilemma of stagflation will be a key test of its credibility November 3, 2016 The Bank of England faces an uncomfortable time over the next couple of years, if its latest forecasts turn out to be broadly correct. The latest projections in the Bank’s Inflation Report published yesterday show that inflation will be pushed up by the fall in the pound and is likely to remain above the 2 per [...]
Prepare for London’s first 4DX cinema – complete with bubbles, scents and motion chairs November 3, 2016 Cinema is about to get even more thrilling with London's first 4DX theatre due to open in Wandsworth next month. 3D? IMAX? That's so old news. Get ready for the latest in cutting edge cinematic viewing – 4DX – with special effects to stimulate all five of your senses at a new screen in Cineworld Wandsworth. The [...]
Following the High Court’s ruling on Article 50, is an early general election now a distinct possibility? November 3, 2016 Alex Morton, director at Field Consulting, says Yes. Prime Minister Theresa May should call a general election in the spring, and the High Court ruling gives her even more of an excuse to do so. The UK economy is going to turn in the next few years, regardless of Brexit. By 2017, we will be eight [...]
Article 50 campaigners have raised £30,000 in less than four hours to fight the government in the Supreme Court November 3, 2016 A crowdfunding scheme set up to support a legal challenge on the government's right to activate Article 50 has raised more than £30,000 in just over four hours. Grahame Pigney, one of the interested parties behind a bid to block Theresa May from quitting the EU without parliamentary approval, created the funding page earlier today. [...]
Hyatt Hotels welcomes surprise profit increase in third quarter results November 3, 2016 Hyatt Hotels today welcomed warm third quarter results showing a sharp boost in earnings to $62m (£49.7m). The group reported a surprise profit increase on higher revenue from its hotels, as well as increased management and franchise fees. The results The Chicago-based company said its net income had increased 148 per cent to $63m from last year. It [...]
Poker champion Phil Ivey loses ‘cheating’ case in court, but will appeal again November 3, 2016 Professional poker player Phil Ivey has lost an appeal against a London casino over whether he cheated to win £7.7m. The 39-year-old had challenged a decision from 2014 which said he had cheated in order to win the game, which then rendered his winnings invalid. The ten-time winner of the World Series of Poker achieved his winnings through "manipulating" [...]
Hurricane Matthew impact “less than it might have been” for Lloyd’s insurer Lancashire November 3, 2016 Hurricane insurer Lancashire's share price spiralled up over eight per cent today after blowing away analysts with its third quarter results. Announcing a $150m (£121m) special dividend, the Lloyd's insurer said that the impact of Hurricane Matthew – the worst in the Atlantic for nine years – wasn't quite as bad as it had expected. "As an [...]
Forgotten, forgotten the fifth of November? Here are the free London fireworks displays you won’t need tickets for November 3, 2016 How do you remember, remember the fifth of November? With a spectacular fireworks display, of course. But what do you do if you’ve forgotten, forgotten the fifth of November and haven’t bought a ticket yet? We’ve rounded up all the free bonfire nights in London so you get a chance to catch some Guy Fawkes [...]
SoftBank confirms creation of 1,700 UK jobs as part of £24bn Arm takeover November 3, 2016 Japan’s SoftBank will create more than 1,700 UK jobs at Cambridge-based electronic chip maker Arm following its £24bn takeover of the company. Under the terms of the deal, SoftBank will at least double the UK headcount of Arm within five years. Read more: UK tech investors are incredibly happy about Softbank's $100bn fund The Japanese lender [...]