IT services firm Kainos’ share price falls as it strikes cautious tone on political climate September 4, 2019 Digital services company Kainos shares tanked this morning after it told markets it was tentative around the issue of government spending given the possibility of a no-deal Brexit. Kainos’ market value had fallen to 8.6 per cent below the day’s opening price this afternoon. Read more: UK economy close to recession after stagnant service sector [...]
German steel giant Thyssenkrupp looking to sell elevator division September 4, 2019 Thyssenkrupp has launched a formal process to sell its elevator business rather than planning an initial public offering (IPO), as pressure builds on the German industrial giant’s chief executive to turn around its fortunes. The 218-year-old conglomerate has been weighing up what to do with the division for months, all-the-while issuing repeated profit warnings to [...]
Monzo beats Revolut to be crowned Linkedin’s best UK startup to work for in 2019 September 4, 2019 Challenger bank Monzo has been named Britain’s most-desirable startup for young professionals to work at, beating fellow challenger bank Revolut to the top spot. Social media giant Linkedin put Revolut in second place, while Starling Bank and Tide were also included in the top 10. Read more: Fintech firm Revolut leads list of UK’s top [...]
Iran to set free seven crew members from captured British tanker Stena Impero September 4, 2019 Iran will free seven crew members from the captured British tanker the Stena Impero, according to Iranian state television. A spokesman for the country’s foreign ministry told TV the state had set them free on humanitarian grounds, and that they could leave the country soon. Read more: Britain will join US to protect ships from [...]
Halfords’ sales pedal down amid political uncertainty hitting consumers September 4, 2019 Halfords has warned that its summer sales were weaker than hoped after the bicycle and car maintenance retailer suffered from poor weather and a lack of consumer confidence. The company said it expects “political and economic uncertainty” to hit customers’ spending habits for the rest of the year. Shares fell 2.6 per cent in morning [...]
Just Group share price falls as new regulations slash profits by a quarter September 4, 2019 Life insurer Just Group shares fell 10 per cent this morning after it revealed profit fell more than a quarter in the first half of the year. The company suffered a hit after new rules from the Prudential Regulation Authority, which require more capital behind lifetime mortgages, which is one of its key products. The [...]
Mace breaks £2bn revenue barrier but profit slumps September 3, 2019 Construction firm Mace has surpassed the £2bn annual revenue mark in 2018 for the first time in its history, but also suffered a drop in profit because of challenges on some of its projects. The firm, which was in charge of building Tottenham Hotspur’s new football stadium and is contracted to build the new HS2 [...]
Johnson Service Group looks for London deals as laundry specialist cleans up on full-year results September 3, 2019 Johnson Service Group is in talks with several companies in London about prospective takeover deals, as the laundry specialist looks to build out its offering in the capital. The Aim-listed company’s chief executive Peter Egan told City A.M. he was looking to “bring on more capacity” in London. “Around the London area you have huge [...]
Sterling recovers from 34-year low amid Brexit showdown September 3, 2019 Sterling crashed below $1.20 this morning to a 34-year low as markets readied themselves for a tumultuous day in Westminster as political chaos hits the Brexit process. The pound (GBP) dropped as much as 0.83 per cent in early London trading to trade at $1.1961 against the dollar (USD). Read more: Brexit: PM to call [...]
GKN slashes 1,000 jobs as owner Melrose moves turnaround plan up a gear September 3, 2019 GKN Aerospace, one of Britain’s oldest industrial manufacturing companies, has announced plans to cut 1,000 white collar jobs, in a bid to make it a “coherent business”. The firm was bought by Melrose last year for £8.1bn after an ill-tempered takeover scrap, with the buyer promising to boost profits at the former blue-chip firm. Read [...]
