Profit slips at housebuilder Crest Nicholson with London market blamed for ‘challenging year’ January 29, 2019 Profit before tax fell 15 per cent at housebuilder Crest Nicholson last year with its chief executive blaming Brexit and slower demand in London. In the year to 31 October pre-tax profit was £176.4m, compared to £207m the year previously, while operating profit margin fell from 20.3 per cent to 16.7 per cent. Chief executive [...]
What are the UK’s most shorted stocks? January 29, 2019 Hedge funds made millions from short-selling Carillion shares after the construction firm collapsed a year ago. That’s hardly a surprise, but what’s telling is that many short-sellers were predicting its failure even before the company issued its first profit warning back in July 2017. Short-sellers borrow shares from other investors, typically large institutions like pension [...]
We’re all bored of Brexit, just as things start to get interesting January 29, 2019 This week will be crucial for Brexit as Theresa May sets out how she intends to take the departure process forward after her initial withdrawal agreement was defeated. But as Westminster gets to grips with the Brexit process, and the media pores over the ramifications of parliamentary votes on proposed amendments to the deal, most [...]
With just a dash of flexibility, the Brexit endgame is in sight January 29, 2019 In 1982, three years into Margaret Thatcher’s first term, a monograph was published about the government’s economic progress bluntly titled: “Could do better”. Was it published by the Fabian Society, with its close affiliation to the Labour party? Or perhaps it was released by the recently established Social Democratic Party, formed by people on the [...]
The Eurozone is at risk of renewed crisis in 2019 – and this time it’s all about Italy January 29, 2019 After a dismal 2018, December brought further bad news for the Eurozone in the form of the European Commission’s economic sentiment indicator. Despite hopes that last year would see an escape from the ongoing repercussions of the 2011-2013 euro crisis, confidence across sectors has taken a hit, with only retail trade remaining a bright spot. [...]
If Britain looks outward, it will find Nigeria open for business January 29, 2019 As the vote on Theresa May’s withdrawal agreement looms, parliament is at an impasse. The likelihood of a no-deal Brexit is increasing – in Germany, it is now seen as the most probable outcome, while in France, a “hard Brexit” contingency plan has been triggered. Deal or no deal, however, Brexit gives the UK the [...]
‘A farce!’ Tories react to Theresa May’s plan to back a change to her Brexit plan January 28, 2019 Theresa May is set for a showdown with the hard Brexit wing of her party on Tuesday as the war over her withdrawal plan intensifies. The Prime Minister will order her MPs to support a plan calling for the unpopular Irish backstop to be replaced with “alternative arrangements” to avoid a hard border on the island. [...]
Will 2019 be the year gold regains its shine? January 28, 2019 | City Talk Gold had a mixed year in 2018, quickly peaking around $1,366 in January, but falling as low as $1,160 by August. For a while it seemed that the correlation between risk-off appetite and gold prices had broken, with the yellow metal overlooked even in times of heightened uncertainty. But after a 7% recovery since early [...]
Is Yvette Cooper about to take back control of Brexit? Here’s what you need to know January 28, 2019 MPs are set for another vote on Brexit tomorrow, but it’s not quite the make or break moment some are spinning it as. In simple terms, MPs will vote to say whether the Prime Minister came to the Commons within three Parliamentary days of her historic defeat on the Withdrawal Agreement to set out her [...]
UK advertising spend set to slow as Brexit jitters hit brands January 28, 2019 Spending on advertising is set to slow to 4.6 per cent in 2019 as brands tighten the purse strings, with growth expected to fall further if the UK does not secure a Brexit deal. The projected slowdown comes after ad spend grew six per cent to an estimated £23.5bn in 2018, according to figures from [...]