The Eurozone’s private sector is growing at its slowest rate in 16 months despite France and Germany performing well May 23, 2016 Eurozone private sector growth has hit a 16-month low, according to the latest survey from Markit. The slackening suggests the stronger growth in the first three months of the year has failed to hold. Markit's Composite Purchasing Managers' Index (PMI) edged down to 52.9 from April's 53. Any reading above 50 indicates expansion, while a reading below [...]
Larger private jet sales soar across the UK in buyers market May 23, 2016 Europe's demand for bigger private jets is growing, new research has revealed. Deliveries of mid to heavy business jets to Europe are up by 18 per cent between 2006-2010 and 2011-2015. There are around 1,691 mid to large private jets in Europe with 15 per cent in the UK, more than any other country in [...]
Commercial development approvals stall in 2016 as lack of finance for small developers bites May 23, 2016 Planning permissions for commercial property developments across the UK hit their lowest level since 2009 last year. The dip has been blamed on a lack of available finance for smaller developers, according to peer-to-peer property funding platform Saving Stream. Large developments have held steady at 2,000 per year since 2010 though the number of smaller [...]
Gibbs’ river taxis take to the Thames May 23, 2016 The days of congested London bridges could be numbered after a technology company showed off its amphibious cars on the Thames this weekend. Gibbs Technologies demoed its range of hybrid cars to potential investors around Canary Wharf. Gibbs claims its vehicles are the first in the world to be able to exceed 30 miles per hour [...]
Week ahead: Investors look to economic data as G7 leaders meet May 22, 2016 Market movements this week will be heavily influenced by both the meeting of the group of seven world leaders in Japan and a flood of economic data throughout the week. After a strong finish on Friday, with the FTSE 100 closing up 102.97 points to end the week at 6,156.32, investors will be looking for [...]
Outgoing BT chairman wants better customer service to be his legacy May 22, 2016 The chairman of BT, Sir Mike Rake, has prioritised improving customer service before he steps down from the role in September next year. “We haven’t improved our customer service enough in recent years,” Rake told City A.M. BT has promised to better its service this year by bringing call centres back to the UK, taking on [...]
De La Rue due a change as cash falls out of favour May 22, 2016 De La Rue, the world’s biggest commercial passport maker and the printer of notes for the Bank of England, is now almost a year into a five year plan it set out last May that will eventually see its identity division grow to rival its core cash business. This morning De La Rue announced the sale [...]
Tata bidders prepare for Monday deadline in race to save UK steel industry May 19, 2016 The seven bidders vying to buy Tata Steel's UK business are racing to finalise their bids ahead of Monday's deadline, City A.M. understands. Indian conglomerate Tata revealed last week that it would take seven bidders forward to the next stage of the buying process. It is unlikely that details of the individual bids will be made public once they [...]
Harry Potter’s spell is still working its magic on publisher Bloomsbury even as focus shifts May 19, 2016 Bloomsbury Publishing, which has been hanging on to Harry Potter’s soaring broomstick for nearly two decades now, isn’t letting go any time soon. The company reported an eight per cent rise in pre-tax profits last year following a 133 per cent surge in sales of Harry Potter books. The rise has been put down to [...]
Drug pricing pressure working in favour of Irish pharma company UDG Healthcare May 19, 2016 Dublin-based UDG Healthcare, a provider of medical equipment and healthcare services to big and small pharmaceutical companies, is set to benefit from a squeeze on drug prices in the US. The US, which runs a free market system where drug makers can name their price, has seen the cost of drugs become a hot political topic in recent months. [...]
