Deutsche Bank’s share price soars on reports bank is mulling a major bond buyback February 10, 2016 Deutsche Bank's share price soared more than 13.7 per cent this morning, amid reports the German lender is poised to announce a multi-billion euro bond buyback. The bank yesterday attempted to reassure staff and investors through an open letter in which co-chief executive John Cryan insisted it was "rock solid". It followed a note the night before [...]
Transport for London, Islington and Camden Councils open public consultation for King’s Cross gyratory to be overhauled as part of area regeneration February 10, 2016 King's Cross gyratory is poised to get a major facelift, with simplified roads and better facilities for pedestrians and cyclists. Transport for London, Islington and Camden Councils have published plans for a public consultation that they say will "transform the King’s Cross area". The improvement work is part of the mayor’s ongoing £4bn road modernisation plan. Proposals include creating [...]
Uber and other private hire firms want to act as taxis, but without the costs: This is why Black Cab drivers are protesting TfL’s private hire review today February 10, 2016 A taxi demonstration is being held in Whitehall today in protest at this government’s intervention in proposed changes and updates to the private hire act 1998. Many proposals were both sensible and in the public interest. One of the changes was that any “app” may not display the whereabouts of an available vehicle in law this [...]
Heineken warns over emerging markets outlook as 2015 full year figures come in around expectations February 10, 2016 Heineken's full year sales figures have come in just under expectations, while flagging an increasingly challenging environment to trade in. The figures The drinks giant grew revenue 6.5 per cent to €20.51bn (£15.9bn) for the full year, just missing the €20.57bn consensus view, with organic growth up 3.5 per cent. Operating profit margin nudged up 0.23 percentage points to [...]
Network Rail’s “hybrid” system must go, says IEA report – and abolishing it would save each family £180 a year February 10, 2016 Jeremy Corbyn's crowd may be calling for the UK's train network to be fully nationalised – but a new report is arguing the reverse would lead to cost reduction, better services and the ability to improve the system for future usage. Abolishing the "hybrid" Network Rail would save households £180 a year – and make the [...]
To fuel the pensions revolution, we need to put passion into pensions – and that means opening them up to social investing February 9, 2016 The humble nudge has worked. With around six million people now automatically enrolled into their first pension, we have reason to be hopeful that the UK is now saving for its future. However, it’s much too early to declare mission accomplished. We’re still waiting for the large number of smaller companies to enrol their employees into schemes, and they [...]
Deutsche Bank share price falls after John Cryan’s open letter to staff saying the firm is “absolutely rock-solid” February 9, 2016 Deutsche Bank's share price fell below its 2009 low today, after the German lender moved to reassure both staff and investors that it was "absolutely rock solid". Last night the bank contacted investors to say it had "sufficent" reserves to pay for its AT1 securities after shares dropped almost 10 per cent over concerns about its capital buffers, especially [...]
TfL Tube strike 2016: First of seven 24-hour London Underground strikes to run from Friday 12 February – here is everything you need to know February 9, 2016 The first of seven 12 and 24-hour strikes is scheduled to take place this Friday in a fight over "basic safety issues". Commuters might have breathed a sigh of relief when first the Night Tube and then the ticket closure strikes were called off at the last minute – but this action is entirely separate, and likely [...]
The UK’s trade deficit has widened again and London has to face up to the fact that competition for exports is getting harder February 9, 2016 As an island nation, international trade has historically been at the heart of the UK’s national identity. However, over recent decades we have been losing ground and our share of world exports. Figures released this morning by the ONS found that the UK trade deficit for goods widened yet again in 2015. While there was [...]
FCA fines Achilles Macris, former JPMorgan exec, nearly £800,000 for London Whale failings February 9, 2016 A former executive at JPMorgan Chase Bank has been fined nearly £800,000 for failing to be "open and co-operative" with City watchdog the FCA over the so-called London Whale trades. Achilles Macris, former head of CIO International for the bank in London, has been slapped with a £792,900 fine. The FCA said Macris was responsible for a number [...]
