Donald Trump goes up in the Republican Presidential nomination polls after each controversial comment August 12, 2015 Multi-billionaire businessman Donald Trump continues to lead the Republican pack, despite Fox News turning the heat on him in the Republican debate, and after remarks that have alienated him from sections of the Republican party. The most recent poll of the Republican field in Iowa by Suffolk University shows Trump leading the field, with 19 [...]
Warren Buffett’s Berkshire Hathaway risks downgrading by Standard & Poor’s after Precision Castparts deal August 11, 2015 Warren Buffett’s Berkshire Hathaway risks being downgraded by ratings agency Standard & Poor’s, after its record deal to buy aerospace manufacturer Precision Castparts. The acquisition worth $37.2bn has caused S&P to worry about Berkshire Hathaway’s cash resources, putting it on "CreditWatch Negative". The company is currently rated "AA", the third-highest of 10 possible ratings. Read [...]
Labour leadership contest: City leader Martin Clarke says Jeremy Corbyn would be “disastrous” August 11, 2015 A prominent City dealmaker and Labour party supporter has said that a victory for leadership hopeful Jeremy Corbyn would do “irreparable damage.” Martin Clarke, chief financial officer of roadside recovery giant AA and a former executive at the private equity firm Permira, told City A.M. in an interview yesterday that electing Corbyn would sever Labour’s [...]
The wheels are falling off David Cameron’s EU renegotiation: It can still be saved August 11, 2015 Are the wheels falling off the government’s EU renegotiation? It’s a legitimate question to ask given that, in the Prime Minister’s first hundred days of leading a majority Conservative government, we have already seen a significant reduction in what David Cameron appears to be asking for and what he is likely to achieve. Despite having [...]
Punters put even more money on Jeremy Corbyn victory in Labour leadership contest August 11, 2015 Support for Labour leadership hopeful Jeremy Corbyn has flooded the betting markets this morning, with Britain’s biggest bookies now saying the far-left candidate is on course to make gambling history. Ladbrokes, William Hill, Betway and Betfair have all put Corbyn in pole position off the back of a new opinion poll strongly favouring the Islington [...]
Neil Woodford’s Patient Capital Trust pays off as it invests three-quarters of IPO funds August 11, 2015 Given his success at Invesco, the decision by star fund manager Neil Woodford launch a solo venture was always going to have a risk attached – but it looks like it paid off, after his new fund, Woodford Patient Capital Trust, posted results showing it had already invested more than three quarters of the £800m [...]
What George Osborne needs to do to get Britain’s productivity engine started again August 11, 2015 Productivity is the engine of economic growth. For a quarter of a century prior to the financial crash, Britain’s productivity engine ran smoothly as output per worker increased at an average rate of more than two per cent a year. But in 2008 the engine stalled. In the last seven years there has been no [...]
New Look to launch menswear-only stores August 11, 2015 Fast fashion retailer New Look is to launch its own standalone menswear stores in the UK, with the first five branches expected to be open by the end of the current financial year. The retailer, which is in the middle of a turnaround under chief executive Anders Kristiansen, has been dipping its toe in [...]
Precision Castparts share price leaps as Warren Buffett makes Berkshire Hathaway’s biggest ever acquisition with $37.2bn swoop August 10, 2015 Shares in aerospace manufacturer Precision Castparts Corp (PCC) jumped 19.5 per cent after Warren Buffett confirmed his company, Berkshire Hathaway, will buy it for $37.2bn (£24bn) – the investor's biggest deal ever. In a statement today, Buffett said he had "admired PCC's operation for a long time". "It is the supplier of choice for the world’s [...]
Landslide victory predicted for Labour leader candidate Jeremy Corbyn August 10, 2015 Jeremy Corbyn is set to ease to victory in the contest for Labour leadership, a new poll reveals. The hard-left Islington North MP can expect 53 per cent of the vote, 32 points ahead of his nearest rival. In second place was health secretary Andy Burnham, who was far behind at 21 per cent, according to [...]