Shawbrook’s share price follows profits higher at the challenger bank, as small business lending and buy to let loans soar March 3, 2016 SHAWBROOK chief executive Steve Pateman has warned the bank is unlikely to see its buy to let loan book grow as quickly in 2016, amid concerns the market is getting out of control. Earlier this year, Bank of England governor Mark Carney said recent developments in the booming buy to let mortgage market posed a [...]
US slaps 266 per cent tariff on cheap China steel dumping March 2, 2016 The UK’s steel sector has come under renewed pressure from cheap Chinese imports after the US ramped up tariffs. The US Department of Commerce has slapped tariffs of 266 per cent on Chinese cold rolled coil steel, compared with a tariff of between 13.8 per cent and 16 per cent in the EU. The industry [...]
FTSE reshuffle: Who’s in and who’s out of the blue-chip index – Morrisons, Sports Direct, Aberdeen Asset Management, Paddy Power Betfair, Informa, Mediclinic International March 2, 2016 Supermarket Morrison's has stormed back into the FTSE 100, having only been given the boot in the index's last quarterly review. News of a tie up with Amazon gave the big four grocer the boost it needed, sending its share price to 205.4p, up around 10 per cent on the week. Morrison's will be joined in the blue-chip [...]
US oil stockpiles are somehow still rising, defying the low price as Russia and Saudi Arabia become increasingly desperate for a deal March 2, 2016 Stockpiles of oil in the US have continued to defy the low oil price, adding the most barrels since April 2015, four times forecasts. The price of crude has barely even blinked however, up almost a dollar on the day. International benchmark Brent crude is trading for $36.92, while West Texas Intermediate is going for $34.57. [...]
Standard Life is worried about how Royal Dutch Shell and Volkswagen are being run, promises to escalate its engagement with management as investor bullish on Shell’s dividend outlook March 2, 2016 Fund manager Standard Life Investments has warned Volkswagen and Royal Dutch Shell that it is planning on stepping up its engagement with management over concerns about the companies corporate governance. Writing in its annual governance and stewardship report the investment vehicle said the VW emissions cheating scandal has caused it to be worried about a lack of independence on the German car maker's supervisory [...]
Advertising Standards Authority rules that Google links were misleading Ryanair customers March 2, 2016 The advertising watchdog has ruled that travel comparison site eDreams has been misleading customers through its Google advertisements. The Advertising Standards Authority has been looking into a series of complaints from consumers after Ryanair claimed the website was duping customers who believed they were booking directly with the airline. The budget Irish carrier has also called on search giant Google to remove eDreams [...]
Fiat Chrysler recalls 2,500 jeeps in Russia due to safety concerns March 2, 2016 Fiat Chrysler has voluntarily recalled 2,496 cars in Russia, the Russian technical safety watchdog Rosstandart has confirmed. Those affected are the Jeep Cherokee and Jeep Commander vehicles made between 11 March 2005 and August 2007. The cars were sold up until 2008. In December last year Fiat was forced to issue a recall for 570,000 SUVs globally and in [...]
Metro Bank investor interest deadline looms, as bank prepares for unconventional stock market float March 2, 2016 UK challenger Metro Bank is gearing up for its unconventional stock market float next week, looking to raise £400m from mostly institutional investors. On Monday Metro will have a so-called introduction to the market, meaning it will float without a public sale. In February Metro Bank cut the offer price in its fundraising round from £24 to £20 a share [...]
London’s Got Talent: London storms ahead of global rivals for attracting top business talent March 2, 2016 London is the most talented city in the world, with a survey showing that there are more highly-skilled people in the UK capital than in any other global rival. It surged ahead of rivals with a 16 per cent rise in high skilled workers in the past three years. London is now "in a league [...]
