Lonmin set to reveal record losses as it pins hopes on rescue rights issue amid low platinum prices November 8, 2015 Troubled mining company Lonmin is expected to reveal record losses tomorrow, when it publishes its annual results. The firm has warned that it is facing a $2bn (£1.3bn) writedown as the price of platinum could remain low in the short-to-medium term. It has come up with a plan to weather this storm, which includes possible [...]
With Argos and John Lewis both releasing their Christmas TV adverts today, will tugging at the heart strings still pull customers back? November 6, 2015 Today marks the official start of Christmas as John Lewis releases its hotly anticipated advert. It’s become a modern tradition, up there now with carols and mince pies. This year’s campaign follows the well-trodden path of pulling at your heart strings in the hope of loosening your purse strings. But has John Lewis gone a [...]
Pensions prove a sore subject for one London insurer’s chief exec… November 6, 2015 Don't throw stones in glass houses. Take the plank out of your own eye before removing the dust in another’s. there’s a lot of ways of saying it. Personally, The Capitalist favours “don’t bang on about the Treasury reviewing pension tax breaks while you’re busy downgrading your own company’s scheme”, but that doesn’t have the same lyricism [...]
Sterling falls off a cliff as Bank of England keeps interest rate hike at bay November 6, 2015 Mark Carney’s Bank of England pushed sterling off a cliff yesterday by suggesting that interest rates could stay anchored to their historic low until 2017. Having said earlier in the year that a rate hike could come towards the end of 2015 or start of 2016, the Bank’s governor appears to be diverging from the position [...]
Dreamworks Animation shares fly up after hours as company smashes through expectations with $259m revenue November 5, 2015 Shares in Dreamworks Animation, the company behind the Shrek and How To Train Your Dragon franchises, went up by almost nine per cent in after hours trading, despite the firm posting a $3.5m (£2.3m) loss for the third quarter of 2015. However, revenue rose 43.3 per cent to $259m in the three months to 30 [...]
Million Mask March London: Westminster tube station reopens after closing due to demonstrations causing disruption on Circle, District and Jubilee lines November 5, 2015 Westminster tube station has now reopened, after being closed at the request of the police due to demonstrations taking place outside the station. A Million Mask March is currently taking place in London, with hundreds of thousands of protesters estimated to descend on the capital to attend demonstrations organised by hactivist group Anonymous. The main protest was scheduled [...]
Sharm el-Sheikh travel disruption update: Thomas Cook will resume flights to and from Egyptian resort as government gives go-ahead for repatriation flights to begin November 5, 2015 Thousands of Britons have been stranded in Sharm el-Sheikh following the government's decision to ground flights to and from the popular Egyptian resort, over fears that the recent Sinai plane crash was caused by a bomb. However, following talks between Prime Minister David Cameron and Egyptian President Abdel Fattah el-Sisi, "the government has decided, in [...]
River Cycleway Consortium has launched a crowdfunding campaign for its Thames floating cycle path plan November 5, 2015 River Cycleway Consortium, the company behind the proposed Thames Deckway, a floating cycle and pedestrian pathway along the capital's main river, has launched a crowdfunding campaign on Indiegogo. The group, which is made up of Arup engineers and Hugh Broughton Architects and advised by Kemp Little, is aiming to raise £175,000 to carry out a [...]
City A.M. shadow MPC votes 6-3 in favour of holding interest rates at current level November 5, 2015 City economists who enjoy poring over Bank of England data (we know who you are) will think Christmas has come early today, as Threadneedle Street publishes its latest interest rates decision, minutes from the meeting, and its quarterly inflation report. Dubbed “Super Thursday”, the hat-trick of releases should give a stronger indication of how the [...]
City remains in dark on HSBC chief executive Stuart Gulliver’s travel plans November 5, 2015 Should I stay or should I should I go? Not the song by The Clash, but the question on HSBC directors’ minds since the bank kicked off its review of whether it ought to move its headquarters. If the exercise was calculated to extract concessions from ministers for Europe’s biggest lender, it has been adroitly handled: [...]
