‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Mitie Group revenue and profit drops as outsourcing firm begins exit from healthcare market November 21, 2016 Outsourcing firm Mitie Group swung to a loss in the six months to 30 September, with a 40 per cent drop in operating profit. The figures Revenue fell 2.6 per cent in the first half, from £1.123bn to £1.093bn. Meanwhile, operating profit before other items dropped 40 per cent to £35.4m from £58.1m. The group [...]
US President-elect Donald Trump nears $20m settlement in Trump University fraud case November 18, 2016 US President-elect Donald Trump is reported to be close to agreeing a settlement of around $20m (£16.2m) in fraud lawsuits connected with Trump University. Lawyers for Trump are dealing with cases brought by former students who claim they were lured by false promises into paying up to $35,000 to learn Trump's real estate investing "secrets" from [...]
Full Croydon tram services resume after tragic Sandilands accident November 18, 2016 Tram services have resumed across the entire network following last week's tragic accident in Croydon. Seven people were killed after a tram derailed and overturned near the Sandilands stop in south London early last Wednesday morning. The tram driver was arrested on the same day the incident occurred, and questioned on suspicion of manslaughter. He [...]
London mayor Sadiq Khan confirms transport fares will be frozen November 18, 2016 Transport fares for Londoners will be frozen at current levels until 2020, Sadiq Khan has confirmed. The freeze in Transport for London (TfL) fares for the next four years means that everyone buying a bus or tram ticket in London will not pay a penny more next year than they did in 2016. Pay as you go [...]
Volkswagen to slash 30,000 jobs by 2020 in bid to cut costs as it also reveals plans for electric car investment November 18, 2016 Volkswagen is reportedly preparing to unveil restructure plans today that will include up to 30,000 job cuts. The German car maker is overhauling its business in a bid to boost profitability, and will reduce its workforce significantly by 2020. The group said it would make no compulsory redundancies. Of that total, 23,000 roles will be [...]
Severe delays on Central Line this morning due to track obstruction November 18, 2016 Commuters are facing severe delays on the Central Line this morning, with an obstruction at Lancaster Gate and a signal failure at North Acton causing havoc on the rest of the line. Transport for London (TfL) said there is no service between Ealing Broadway and North Acton due to the signal failure. https://twitter.com/centralline/status/799550759461408769 Meanwhile, there [...]
Co-operative Bank says low interest rates behind decision to cut 200 jobs November 17, 2016 The Co-operative Bank is cutting 200 roles across the business in a bid to cut costs. The roles will be made redundant by the end of March 2017. The bank said low interest rates were partly to blame for the job losses, as it is struggling to make money in the current economic environment. The roles affected [...]
Premier Oil share price rises as it announces refinancing plans are nearing completion November 17, 2016 Premier Oil's share price rose slightly this morning after the group announced that it's in the final stages of talks on its refinancing, and said it is on track to meet production guidance for the year. The stock was up 0.73 per cent in late morning trading. The company said it would reach its production [...]
Retail sales defied expectations amid Brexit fears in October as prices fell everywhere except petrol stations November 17, 2016 UK retail sales grew at their highest rate since April 2002, amid fears that spending could be hampered by uncertainty around Brexit. The volume of retail sales increased by 7.3 per cent in October, compared to the same month in 2015, while the amount spend rose 6.6 per cent on an annual basis, according to [...]
Weaker sterling gives Johnson Matthey a £27m profit bump November 17, 2016 Johnson Matthey is one of the companies that has welcomed post-Brexit currency volatility – the sustainable tech and chemicals firm today revealed that the weakened pound gave its profit a £27m bump in the six months to 30 September. The figures Sales were up five per cent to £1.68bn in the first half, from £1.6bn last [...]
