Apple’s Tim Cook cautions Donald Trump over China tariffs August 19, 2019 US president Donald Trump said that he has spoken with Apple chief executive Tim Cook about the impact of US tariffs on Chinese imports and that Cook “made a good case” that tariffs could hurt Apple. According to Trump, the pair spoke about competition between Apple and South Korean rival Samsung, with Cook arguing that [...]
‘Dearth of supply’ sees London office vacancies drop to lowest level since 2007 August 19, 2019 A supply starved market and weakened investment has led to vacancy rates in London offices falling to their lowest level since 2007, a new report has found. The amount of available office space in London has fallen 19 per cent over the past year, with vacancies in the City dropping 27 per cent, according to [...]
European funds back to modest inflows amid tough conditions August 19, 2019 The European fund industry has weathered volatile conditions to enjoy estimated net inflows for the first half of 2019, after seeing estimated net outflows for the first time since 2011 last year. Mutual funds in Europe saw estimated net inflows of €41.3bn (£38.1bn) for the first half of the year, according to Refinitiv’s review of [...]
High Court blocks Prudential’s £12bn transfer of annuities to Rothesay August 16, 2019 The High Court has taken the highly unusual measure of blocking a proposal by Prudential to transfer £12bn of annuities to Rothesay Life. Prudential said it was “disappointed” by the High Court’s decision to block the sale to Rothesay – a private company backed by Blackstone – which was agreed in March last year. “The [...]
Watchdog’s ban on ex-Barclays executive holding senior positions overturned August 16, 2019 A ruling by the financial watchdog banning former Barclays executive Andrew Tinney from holding senior positions at financial institutions has been overturned. Tinney, former chief operating officer of Barclays Wealth, was also cleared of misleading the Financial Conduct Authority (FCA) and the US Federal Reserve Bank of New York, but a finding he “acted without [...]
FTSE 100 and FTSE 250 reopen after glitch hits morning trading August 16, 2019 Trading in FTSE 100 and 250 stocks has reopened after a software issue that delayed the starting bell this morning was resolved. The London Stock Exchange (LSE) said it had “experienced a technical software issue” that had “affected trading in certain securities” but that this had been resolved. Read more: London stock exchange seals $27bn [...]
Octopus buys wealth management fintech Seccl for £10m August 15, 2019 Financial services and energy firm Octopus has agreed to purchase Seccl, a wealth management technology startup, as it seeks to move into the investment platform technology market. Octopus will pay £10m for Seccl, a Bath-based firm that helps businesses build investment platforms using flexible software designed to reduce the administrative and cost burden of the [...]
Home Office stabbing: Man’s injuries ‘not life-threatening’ as police cordon off area August 15, 2019 A man in his sixties has been taken to hospital with injuries that are ‘neither life-threatening nor life-changing’ after being stabbed outside the Home Office this afternoon, police have confirmed. The Metropolitan Police (Met) said another man, aged 29, has been arrested on suspicion of grievous bodily harm and suspicion of CS spray following the [...]
Weak Asda sales drive down Walmart’s international income August 15, 2019 Slow sales at Asda and other non-US retailers owned by Walmart have driven down the corporation’s international operating income by almost 30 per cent in the second quarter. In second quarter results released today, Walmart said that overall operating income was also down 2.9 per cent, as it lowered international sales growth guidance. Revenue was [...]
GVC lifts earnings forecast as it escapes impact of betting cap August 15, 2019 Ladbrokes Coral owner GVC has upgraded its full-year earnings forecast as it weathered the impact of a new regulatory cap on fixed-odds betting terminals. The figures GVC reported pre-tax profit of £212m for the first half of the year, up 31 per cent from 162.1m in the first half of 2018. Revenue at the gambling [...]
