Lloyds Banking Group to cut 640 jobs and close 23 branches June 29, 2016 Lloyds Banking Group is planning to cut around 640 jobs and close 23 branches as it moves to reduces its presence across the UK. The firm said it would make 525 net role reductions – it plans to create 115 new roles – within its retail and group operations. Lloyds also confirmed that it will close 23 [...]
British brewer Greene King posts 58 per cent jump in revenue in first yearly results since completing Spirit Pubs acquisition June 29, 2016 British pub company Greene King has posted a strong set of preliminary numbers for the 52 weeks to 1 May – but has warned that it expects consumer confidence will be hit by the UK's vote to leave the European Union. The figures Revenue was up 57.6 per cent to £2.1bn in the year to 1 [...]
Asda Income Tracker shows average UK household’s discretionary income rose to record level in May 2016 June 21, 2016 UK households had more money at their disposal in May than any other month over the last eight years, according to new data from Asda – but the supermarket warned that uncertainty around this week's EU referendum makes it hard to predict how income will fare in future. Discretionary income was up to £201 per week in [...]
Kenmare Resources share price jumps 18 per cent as company agrees debt restructuring and capital raising plan June 20, 2016 Shares in Irish mining company Kenmare Resources have jumped by over 18.5 per cent this morning after the firm unveiled plans to raise capital and pay off its debt. Kenmare is aiming to raise $275m (£188m) of new equity, and State General Reserve Fund of the Sultanate of Oman (SGRF) has, through its subsidiary African [...]
From telecoms provider to tech innovator: Can the old guard make the leap? June 20, 2016 The global telecoms industry faces the most challenging risk environment in living memory. Profitability is being squeezed by disruptive competitors, regulatory change and unrelenting cyber attacks. The threats facing telecoms today are diversifying and multiplying. At BDO our recent industry report, 2016 Telecommunications Risk Factors Survey, highlights strategic and operational risks reported by sixty telecoms [...]
Circassia share price tanks by 65 per cent as cat allergy treament fails crucial trial June 20, 2016 Pharmaceutical company Circassia has lost more than half its value this morning after its experimental cat allergy treatment failed in a late-stage trial. The firm's stock was down by 64.85 per cent in early trading. Circassia said the study showed that both the treatment regimens and the placebo "greatly, and equally, reduced subjects' combined allergy symptom [...]
Probability of Remain vote increases as ECB governor warns that Brexit could cause political instability within the European Union June 20, 2016 The probability of a Remain vote in this week's EU referendum has climbed to 72 per cent, according to Betfair's odds. The bookmaker's odds show that the implied probability that the UK will vote to stay in the bloc has increased from 65 per cent on Friday. The figures emerged as Britain prepares to vote [...]
London travel chaos: Rail services disrupted during rush hour at Paddington after train derails leaving reduced service between Reading and London June 17, 2016 Disruption to train services in and out of Paddington Station is expected to continue during evening rush hour today, after a train derailed last night. A non-passenger train derailed and caused damage to signalling and overhead wires last night, according to Great Western Railway (GRW). The station issued a picture of the damage in a [...]
BASF buys Albemarle’s surface treatment unit in $3.2bn (£2.2bn) cash deal June 17, 2016 German chemical producer BASF is buying Albemarle's surface treatment business Chemetall for $3.2bn (£2.24bn) in cash. Frankfurt-based Chemetall is a global supplier of specialty chemicals used to treat the surfaces of metals and plastics, and a large part of its business is in making chemicals to protect sheet metal for cars against corrosion. The acquisition sees [...]
Labour holds Tooting as Rosena Allin-Khan wins by-election brought on by Sadiq Khan’s victory in London mayor race June 17, 2016 Labour has held Tooting after junior doctor Rosena Allin-Khan won yesterday's by-election in the south London constituency. Allin-Khan received 17,894 votes, giving her a majority win of 6,357. She was elected in a by-election brought about by Sadiq Khan's departure to become London mayor. The new MP paid tribute to Jo Cox, who was killed in [...]
