South Africa falls into recession as agriculture and transport industries slump September 4, 2018 South Africa has fallen into recession for the first time since 2009 after second quarter statistics showed the economy contracted by 0.7 per cent. The country's official statistics agency – Statistics South Africa – said the decline in gross domestic product (GDP) was contributed to by slumps in the agricultural and transport sectors. Emerging market currencies [...]
FTSE 100 to remain unchanged in reshuffle for first time in 12 years after ‘peaceful summer’ September 4, 2018 The FTSE 100 is set to remain unchanged following its quarterly reshuffle for the first time in 12 years. Despite some “low-hanging fruit”, with the likes of Rightmove, Royal Mail and Marks & Spencer all flirting with demotion, there are not expected to be any promotions or relegations from the exchange listing of London's largest [...]
Gaming retailer Green Man prepares for £100m float as it targets ‘aggressive’ international expansion September 4, 2018 Online video game retailer Green Man Gaming has announced plans to float on the London Stock Exchange in order to “aggressively” expand into international markets. The company, which sells games for a number of consoles, including Sony PlayStation and Nintendo Switch, plans to list on the Alternative Investment Market (AIM) later this month with a [...]
Mobile payments platform Boku sees users and profits soar after strengthening links with digital giants September 4, 2018 Mobile payments platform Boku has seen a surge in users and profit after strengthening links with the world's largest digital companies. The company said its total payment volume (TPV) was up 153 per cent to $1.5bn (£1.17bn) and that its monthly active users grew to 10.3 million – a 117 per cent increase on the [...]
WPP set to appoint Mark Read as chief executive as early as next week August 30, 2018 WPP is set to appoint Mark Read as its new chief executive as early as next week, replacing Sir Martin Sorrell at the helm of the world's largest advertising firm. Read, who previously ran WPP's digital agency Wunderman, has long been the preferred internal candidate for the role and his appointment could be confirmed on [...]
Plastic bag charge could double to 10p and be extended to all shops August 30, 2018 The plastic bag charge could double to 10p and be extended to all shops as the government promises further action to tackle plastic waste. Sales of plastic bags in the country's 'big seven' supermarkets have dropped by 86 per cent since the 5p charge was introduced in October 2015. Until now the charge has only [...]
HSS Hire cuts losses to £7m as turnaround strategy begins to pay off August 30, 2018 Shares in tool hire company HSS Hire have soared after results showed its turnaround plan had cut pre-tax losses to £7m. The equipment hire firm saw its shares jumped by 15 per cent in early trading after posting its half-year results. It reported a pre-tax loss of £7.1m – down from a £30.1m loss in [...]
Selling British-made naan bread to India the ‘ultimate embodiment of global Britain’, Treasury minister says August 30, 2018 Selling Bedfordshire naan bread to India is the “ultimate embodiment” of global Britain, Liz Truss has said as she reassured businesses Brexit would boost trade opportunities. The chief secretary to the Treasury said the government's Brexit and trade deals would open up more opportunities for businesses with the rest of the world. Read more: Scholz: [...]
Scrap business rates in favour of land tax, Lib Dems say August 30, 2018 Business rates should be abolished and replaced by a tax on land values to boost investment and productivity, the Liberal Democrats have said. The party will publish proposals this morning to scrap business rates in favour of a commercial landowner levy (CLL). The levy – paid by owners rather than tenants would remove buildings and [...]
Theresa May pledges to bolster ties between the City and Nigeria August 29, 2018 The Prime Minister Theresa May pledged to bolster ties between the City and Nigeria as she looked to secure new trade relationships on a visit to Africa. May urged Nigeria to tap into the City’s financial expertise, which she hoped could play an even greater role in the continent after Brexit. UK-Nigeria trade was worth £4.2 billion [...]
