India’s Hinduja brothers top Rich List for third time as Jim Ratcliffe loses out May 12, 2019 Britain’s 1,000 richest people have again had their respective fortunes stacked against each other to determine the most wealthy person in the country, in the 2019 Sunday Times Rich List. This year it was bad news for Jim Ratcliffe, owner of chemicals giant Ineos, who dropped to third place after topping last year’s list, while [...]
Why bombed-out Sainsbury’s leads the FTSE 100 May 10, 2019 | City Talk Hammered since the Asda merger was blocked, our head of markets explains the surge to a three-week high. Rather than fight the decision of the Competition and Markets Authority (CMA), Sainsbury (LSE:SBRY) and Asda decided to call off the wedding. This leaves a huge strategic question mark over where Sainsbury's goes next. Not surprisingly, the [...]
The City powers the UK economy – it must not fall into Labour’s hands May 8, 2019 Despite the best efforts of a few valiant voices, the City (and its interests) received a shameful lack of attention during the Brexit debate and has been largely left to fend for itself ever since. Read more: What the next Bank of England governor’s CV looks like However, the race to succeed Mark Carney at [...]
Tensions mount as Trump and Congress face off over Mueller report May 8, 2019 The political battle on Capitol Hill escalated this evening as Congress sparred with President Donald Trump over access to special counsel Robert Mueller’s full report on Russian interference in the 2016 US presidential election. Read more: Trump says he knows why China U-turned on US trade deal Trump moved to block an effort by House Democrats [...]
The art of the deal: Five things we learned from Trump’s tax returns May 8, 2019 Hours after one of Donald Trump’s closest White House allies, Treasury secretary Steve Mnuchin, formally refused the Democrats’ request for the President’s tax returns late on Monday, the cat was out of the bag. Trump’s much-sought after tax returns reveal massive losses throughout the eighties and nineties for the self-styled master of the deal, topping more [...]
UK’s biggest companies pull away as profits for rest of pack plunge May 8, 2019 Average profits at the UK’s 40 biggest companies rose by 11 per cent in the first quarter of the year while those outside the group saw a fall of 18 per cent, new analysis has shown, laying bare a stark division in the fortunes of British companies. Read more: 'Zombie firms' dragging down UK economy, [...]
Lloyds Banking Group: Q1 results analysis May 7, 2019 | City Talk By Graeme Evans from interactive investor. After a stunning share price performance, do these 'hit and miss' results justify optimism? Lloyds Banking Group (LSE:LLOY) investors, in need of a silver lining after an underwhelming earnings season from UK lenders, only have to look back 24 hours earlier to the surprise gift handed to the bank [...]
HMRC forced to delete 5m voice recordings after breaching privacy rules May 3, 2019 HM Revenue and Customs (HMRC) has been forced into deleting the voice records of five million taxpayers after it was revealed that they were collected without proper consent and in breach of privacy rules. The government body had signed people up to its voice ID system for telephone enquiries in a bid to speed up [...]
Margaret Thatcher voted top Prime Minister on 40th anniversary of her first election win May 3, 2019 Margaret Thatcher has been ranked as the UK’s greatest post-war Prime Minister in a survey marking the 40th anniversary of her first election victory. Read more: CBI expresses 'deep concern' at prospect of Prime Minister Boris Johnson A Yougov poll placed Thatcher top of the pile, with 21 per cent of respondents saying she was [...]
Apollo Global Management scraps partnership status to become a corporation May 2, 2019 Apollo Global Management has announced that it is scrapping its partnership status to become a corporation, following similar moves by private equity rivals Blackstone and KKR. The conversion, which is expected to become effective in the third quarter of this year, will see the investment company paying more corporate tax under a simplified structure, which [...]