Donald Trump confirms his support for a Brexit just days before the polls open June 19, 2016 US presidential hopeful Donald Trump has confirmed his support for the ‘Leave’ campaign, ahead of Thursday’s EU referendum. The Republican nominee said he was hoping for an ‘out’ vote due to concerns over EU bureaucracy and immigration. Smaller government and stricter immigration controls have been two of the key issues of his presidential campaign, and [...]
SocGen is set to expand its St James’s Square office by 8,000 square feet June 16, 2016 French banking giant Société Générale is about to double the size of its St James’s Square office. The bank, which is headquartered in Paris but operates major offices across London, is also moving ahead with plans to move into a new larger Canary Wharf office in 2019. The St James's office houses SocGen's private-banking arm and currently covers 8,000 square feet. [...]
If Tata doesn’t find a buyer for its UK operations the British Steel Pension Fund could be put into the Pension Protection Fund, trustee warns June 16, 2016 If steel giant Tata fails to find a buyer for its UK business it could mean the British Steel Pension Scheme (BSPS) is placed into the Pension Protection Fund (PPF). A warning over the future of the fund has come from the Trustee Board of the BSPS in response to the Department for Work and Pensions consultation in May. The Trustee [...]
Subscription services on the rise for pay monthly Brits, survey shows June 16, 2016 UK consumers are increasingly opting to pay a monthly fee to subscribe to a service, rather than buy it outright, new research has shown. A whopping 40m Brits (78 per cent of the adult population) are now subscribing to at least one product or service. Video streaming services are amongst the most popular kind of subscription [...]
Sky rebrands Movies to Cinema as it regroups amid growing competition from online streaming sites June 15, 2016 Broadcaster Sky is hoping a change to its popular film channels will be able to arrest the recent downward trend in its share price. TV networks around the world are battening down the hatches against a rising tide of competition. From 8 July, Sky will premiere a new film every day on its movie channels. [...]
Court told: Failure to spot fixing is like missing nudists on a beach June 15, 2016 The possibility that Barclays bosses did not notice the manipulation of Libor submissions is the equivalent of them failing to spot nudists on a beach, a lawyer said yesterday. Adrian Darbishire, a lawyer for ex-trader Ryan Reich, said in his closing arguments that it was more likely executives didn’t think anything was wrong with what was going [...]
Bidders believe Tata is split on UK assets sale June 15, 2016 Bidders for Tata Steel’s UK operations have accused the company of being split over whether to move ahead with the sale. Tata is currently reviewing bids from up to seven firms for the business, which it announced it wanted to sell in March. “There seems to be genuine division within Tata over whether to sell [...]
Fed rates kept on hold by Brexit bugbears and May’s disappointing jobs report June 15, 2016 The US Federal Reserve has voted to keep its interest rates on hold at its monthly meeting, inline with market expectations. There had previously been expectations that the Fed would hike rates for the second time in a decade this month though recently sentiment has soured. The US central bank has held the target range for [...]
Before the bell: What you need to know before the US market open June 15, 2016 Fed day is here chair Janet Yellen is unlikely to do anything that would surprise the markets. We'll have the decision at 7pm London time and then wait to hear from the lady herself at 7:30pm. Here's what you need to know before the market open at 14:30 London time. US futures are pointing up [...]
Valeant opens door to bids for any assets to clear the company’s massive debt load June 14, 2016 The new chief executive of Valeant has said he’s open to flogging more of the company’s assets to try and clear its mounting debt pile. Joe Papa, who replaced Mike Pearson as chief executive of the embattled Canadian pharmaceuticals company in May, has said the company would assess offers for any of its assets. Last [...]
