UK Steel crisis: Industry in showdown with European ministers as top bosses march in demonstration February 15, 2016 The European steel industry and governmental ministers are set for a showdown later today over how best to implement higher tariffs on foreign steel imports. Industry leaders are demanding that more is done to help Europe's steel sector survive, while European ministers claim removing the so-called lesser duty rule, which seeks to apply the lowest possible [...]
Business groups doubt new equality pay tables February 12, 2016 Leading business groups have questioned the wisdom of new government proposals designed to fix the gender pay gap. The government has today unveiled plans for a national league table to shame employers that are failing to close gaps, as well as forcing up to 8,000 employers to publish how many women and men are in [...]
London cabbies not ’app-y over Uber’s offer of commission-free bookings February 11, 2016 London's black cabs have rebuffed private car hire app Uber’s offer of 12 months of commission-free bookings, with only the odd one or two hackney carriages available for hire via the app in the City over the past two days. Attempts by City A.M. to book a black cab through the app were fruitless with hours [...]
Profit at Tata Motors slides but beats forecast, share price plummets anyway February 11, 2016 Indian car maker and owner of Jaguar Land Rover, Tata Motors, has reported a profit slump of of two per cent in the third quarter, hitting 35.1bn rupees (£357m), as China’s economic slowdown drags on sales. Tata Motor’s share price is down to its lowest level since August 2013, closing down 5.5 per cent with [...]
SocGen leads European banks lower at the close as rout resumes on Deutsche, Barclays, HSBC, Lloyds and RBS share prices and Credit Suisse hits 27 year lows February 11, 2016 Well that didn’t last long. Europe’s bank shares closed down this evening, led by French bank Société Générale after it announced earlier it may struggle to meet its profitability targets this year. The bank, whose share price slumped over 13 per cent in early trading but managed to scale back loses to end the day down just over 12 [...]
Emerging market fund Ashmore hit by global growth fears as profits and assets plummet February 11, 2016 Warnings over the health of China and emerging markets has taken its toll on the emerging markets focused fund Ashmore Group. Assets under management fell by 16 per cent to $49.4bn, from $58.9bn in June 2015. The decline was due to a combination of net outflows of $5.7bn and an investment loss of $3.8bn. Profits [...]
Markets breath a sigh of relief as tough new regulation, MiFID II, is delayed February 10, 2016 Finance firms have been given another years breathing room from a regulatory overhaul of trading rules. The European Commission has proposed a delay of the Markets in Financial Instruments Directive, known as MiFID II, by a year. The new deadline is 3 January 2018, from 3 January 2017 previously. In November last year the commission [...]
Bank shares bounce after heavy losses, investors cheer reports of Deutsche’s emergency bond buyback plan February 10, 2016 Bank stocks have managed to recover some of their lost ground today, following massive sell offs at the start of the week sending shock waves through global equity markets. Royal Bank of Scotland has made the biggest recovery, soaring by four per cent as investors back track on yesterday’s losses. RBS was down by over [...]
