HSBC marks out the winners and losers from the national living wage October 19, 2016 HSBC has today outlined how businesses can combat the cost pressures of the national living wage – and the kind of companies that will be the winners and losers from the legislation. The best way to offset the new costs is to find productivity growth, HSBC analysts said in a note, although "this would require a [...]
Eurotunnel gets a boost from weak sterling and remains bullish over Brexit October 19, 2016 It looks like there's light at the end of the Brexit tunnel – at least from Eurotunnel's perspective. The operator of the Channel Tunnel announced that total revenues for the third quarter rose four per cent to €320.3m (£285.4m), compared to the same period in 2015. And it was positive about its prospects going forward, predicting ongoing [...]
Small companies review foreign exchange hedging strategies after Brexit shock October 19, 2016 Small and medium-sized businesses feel they need to change their approach to foreign exchange hedging after the Brexit vote, according to new research. Some 77 per cent of firms said they needed to change their approach, but 80 per cent of the 75 SMEs surveyed by Earthport said they had failed to act since the vote, [...]
Peer to peer lending grows for yet another quarter October 19, 2016 Peer to peer lenders have grown their books by over £2bn since the start of 2016, with cumulative lending now topping £6.5bn. In the last quarter alone, peer to peer lenders have provided £700m of new funding according to the figures, which are prepared by the Peer to Peer Finance Association (P2PFA). Read more: Global expansion [...]
Unite urges government to beef up its industrial strategy after GKN job losses October 19, 2016 Britain's biggest trade union warned that the government needs to bring in its new industrial strategy urgently, as 221 jobs at the Yeovil GKN plant, which makes airframes for Royal Navy helicopters are set to be cut. Unite said that Theresa May's "much-trumpeted" industrial strategy needed "flesh put on the bones double quick", otherwise thousands of skilled [...]
Oilfield services group Halliburton optimistic on US drilling prospects as it posts surprise third quarter profit October 19, 2016 Halliburton, the world's second largest oilfield services provider, posted a surprise third quarter profit today, boosted by cost cutting and increased utilisation in its North American business. The figures Net profit at the Houston-based group came in at $6m (£4.9m), or one cent per share, in the quarter to 30 September. This was up from a loss of [...]
Pass the popcorn: Competition watchdog considers AMC takeover of Odeon cinemas October 19, 2016 The Competition and Markets Authority (CMA) has launched an inquiry into AMC Theatres’ acquisition of Odeon. AMC agreed a £921m deal to buy Odeon from private equity group Terra Firma Capital Partners in July. Read more: AMC Theatres set to buy Odeon cinema chain in £921m deal The CMA today announced the launch of an [...]
Britain’s banks back in the firing line for potential mortgage calculation failings October 19, 2016 Mortgage lenders may have been over-charging hundreds of thousands of customers in arrears according to UK's banking watchdog. The Financial Conduct Authority (FCA) today announced that it will consult for guidance on whether banks have broken FCA rules and miscalculated mortgage repayments. Read more: Tyrie urges FCA to publish its report into RBS After working with [...]