Eurostar cuts 80 jobs as it’s buffeted by Brexit and terror attacks October 18, 2016 Eurostar is cutting 80 jobs, following a downturn in passenger numbers and ticket revenue, which the train company has partly attributed to the Brexit vote. The company is also set to unveil a new international timetable in December, though it wouldn't confirm reports that it was cutting two daily trains to Paris and one to Brussels, after [...]
The polls are looking increasingly worse for Donald Trump ahead of the last presidential debate October 18, 2016 The final debate between Hillary Clinton and Donald Trump will take place on Wednesday night in Las Vegas as the latest polls put Clinton in prime position to take the presidency next month. With just three weeks left until polling day on 8 November, the two official nominees will attempt to persuade America they have what [...]
Rail freight firm DB Cargo slashes 900 jobs in the UK October 18, 2016 German-owned DB Cargo has announced plans to cut up to 900 jobs due to "rapid and unprecedented changes" in the markets it operates in. The firm is proposing a potential reduction of its workforce by 893 roles across the business and a downsizing of its locomotive and wagon fleet, as well as a revision of the number [...]
Autumn Statement 2016: Infrastructure boom to provide Brexit boost for construction sector October 18, 2016 The construction industry looks set to be the shining light of the UK’s post-Brexit economy as the industry benefits from an infrastructure spending spree over the next decade. Researchers at BMI Research, part of the Fitch Group, which also owns the powerful ratings agency, said the construction sector will grow at a rate of 2.8 [...]
Harley-Davidson sales slam on the brakes in the US but shares bounce October 18, 2016 Harley-Davidson reported a fall in earnings today, after sales fell in the US – but sales in Canada, Europe and Asia Pacific were strong. The figures The iconic motorcycle brand said net income had fallen to $114.1m (£92.7m) in the third quarter, down from $140.3m last year, while consolidated revenue dropped to $1.27bn, from $1.32bn the year before. That pushed earnings per share to $0.64 in [...]
The UK’s biggest banks are bracing themselves for another £2bn on their PPI bill October 18, 2016 Britain's largest banks are set to add billions to their collective bill for payment protection insurance (PPI) mis-selling in the next two weeks. According to Sky News, executives at Lloyds Banking Group, Royal Bank of Scotland, HSBC and Barclays are in the process of finalising top-up provisions, amounting to around £2bn in total – due to be [...]
SVG board gives HarbourVest takeover green light after forcing up price October 18, 2016 The board of SVG Capital (SVG) has accepted an increased takeover offer from US behemoth HarbourVest that will likely draw to a close a tumultuous month of punches and counter-punches between the two parties. The confirmation of the deal was announced this afternoon and will mean SVG shareholders will receive the equivalent of 715p a share for the assets of the [...]
Surprise, surprise: Oil majors face a “resoundingly negative” threat from the rise of electric cars October 18, 2016 A leap forward in battery technology could pose a "resoundingly credit negative" threat to the oil sector and disrupt global credit markets, according to a report from Fitch Ratings. Falling demand for fuel could scupper oil majors' prospects in particular as transport accounts for 55 per cent of total oil consumption. "Widespread adoption of battery-powered vehicles is [...]