BT Group reports 35 per cent hike in revenue but earnings drop 10 per cent October 27, 2016 BT Group said today that while Brexit hasn't had any major impact on the firm, weakness in sterling was hitting its finances, as it reported a 10 per cent drop in earnings but a revenue jump of over one third for the three months to 30 September. The figures Revenue was up 35 per cent [...]
Deutsche Bank share price down despite surprise profit for third quarter October 27, 2016 Deutsche Bank share price has dipped in early trading, despite announcing today it was profitable in its third quarter of this year, beating analyst expectations. The figures The German bank revealed net income of €278m (£248.2m), a substantial improvement on the €6bn loss it announced for the same period last year. The lender booked a hefty €13.2bn of non interest [...]
£3bn student economy is key to attracting future investment October 27, 2016 | City Talk In considering what drives modern economies and shapes the best and most successful cities, Richard Florida now advocates ‘quality of place’ as the benchmark to replace quality of life. As one of the leading theorists on modern life, and author of several books about the 'creative class', his opinion counts. Investors are already used to [...]
Land of Beds: Running a family business isn’t always bed-lam October 27, 2016 With any family business, when fresh blood comes along, they need to make their mark,” says Mike Murray, managing director of Land of Beds. In 2008, that’s exactly what he did when he joined the family business, embarking on the process of taking the reins from his father, Michael Murray (Senior) – who 30 years [...]
Deutsche Bank’s Mexican operations sold to Investabank October 27, 2016 Deutsche Bank has sold its two Mexican units as part of an ongoing drive to flog non-core assets. Investabank picked up Deutsche Bank Mexico and Deutsche Securities for an undisclosed amount – although it is looking to investors to provide 2.5bn pesos (£112m) to help fund the purchase. The deal is still subject to sign-off [...]
Samsung posted quarterly earnings that were at an eight-year low but in line with expectations October 27, 2016 Samsung posted its worst quarterly results for almost eight years in the wake of the Galaxy Note 7 debacle, but promised that it would rebound in the fourth quarter. Earnings plummeted 98 per cent in comparison to the previous year and languished at their worst level since the final quarter of 2008. Although this was [...]
Whiplash-gate: we’re all paying for the unscrupulous few, say motoring experts October 27, 2016 Car insurance premiums are spiralling out of control due to a "whiplash epidemic" according to data released by motoring organisation the AA. The average cost of annual car cover is now £82 higher than a year ago, a 17 per cent year-on-year increase. Alongside spurious whiplash claims, the AA said that recent increases in insurance premium [...]
City Moves for 27 October 2016 | Who’s switching jobs October 27, 2016 JLL Richard Howling is set to become new chief operating officer following Mark Stupples’ decision to try something different after over three decades at JLL UK. After 32 years within the business, and having successfully managed the merger and integration of King Sturge with JLL UK, Mark will be leaving at the end of 2016 [...]
Leading the charge: How to invest in the nascent, but lucrative, electric power storage sector October 27, 2016 One word captures the holy grail for the energy industry: storage. A Carbon Trust report from March found that better energy storage could save £2.4bn a year by 2030 in the UK. If certain regulatory hurdles are overcome, this could rise to £7bn a year. New developments and innovations are coming to market all the [...]
Get ready for a more mature Autumn Statement – which might mean you get ignored October 27, 2016 All Autumn Statements are political, but some Autumn Statements are more political than others. Under George Osborne, we have become used to very political Budgets and Autumn Statements. The former chancellor consistently engaged the media with policy tweaks – from pensioner bonds to corporate tax cuts. The changes were generally small, but their appeal to [...]