Shares slide as Moody’s downgrades its outlook on Italian banks December 14, 2016 An index of Italian banking stocks recovered slightly following a slide in early trading, after one of the world's largest ratings agencies downgraded its outlook on the country's largest lenders. The FTSE Italia All-Share Banks index fell as much as 1.5 per cent in early trading, before just managing to turn positive later in the morning, after [...]
City A.M. Unregulated podcast: Behind the scenes on Dragons’ Den, with Rob Law and Kirsty Henshaw December 14, 2016 Dragons' Den: it's nerve-wracking enough if you get investment – but what happens if you're rejected? We're joined by Trunki founder Rob Law, who was spectacularly rejected by the Dragons but whose product has gone on to become a ubiquitous sight in airports everywhere, and Kirsty Henshaw, whose business, Kirsty's, got backing from Peter Jones [...]
A ray of hope? The Aslef union says it will hold talks with Southern at Acas tomorrow December 13, 2016 The Aslef union has said it is meeting Southern management at conciliation service Acas tomorrow for talks aimed at ending the rail franchise's strikes. The union's announcement comes after its boss insisted this morning it had not been invited to talks – although transport secretary Chris Grayling said he had written to the union to invite [...]
Southern strike: The funniest tweets from miserable commuters December 13, 2016 Commuters heaved a collected sigh of misery today as workers on Southern rail kicked off two weeks of strikes. Such is the chaos on the network, bosses at Southern have implored passengers not to travel. But, seeing as most commuters have jobs to get to, many adopted a Blitz spirit and soldiered on through the chaos [...]
Inflation rises to its highest in two years as weak sterling takes its toll December 13, 2016 The UK's inflation rate rose to 1.2 per cent in the year to November, up from 0.9 per cent in October – and beating expectations of 1.1 per cent. That puts it at the highest rate since October 2014, when it was 1.3 per cent. The rise was driven by hikes in clothing prices, motor [...]
Bean there, done that: Kraft Heinz is moving into the Shard December 12, 2016 Until now, the Shard's tenants have been a mixture of media companies, swish hotels and restaurants and the odd finance giant. Now it has unveiled its new tenant – with a decidedly beanier flavour. Real Estate Management (REM), the company which manages the Shard, said Kraft Heinz is moving its European and UK headquarters to [...]
UK House prices are on course to fall below £300,000 in December December 12, 2016 The UK's house prices are on course to fall below £300,000 in December – and house price growth is likely to weaken next year, new figures have shown. The Rightmove House Price Index showed prices are on course to fall 2.1 per cent in December, after a 1.1 per cent fall in November. That will put [...]
Glencore and the Qatari sovereign wealth fund have partnered up to buy 20 per cent of Rosneft in the “largest deal in the history of Russia” December 12, 2016 Shares in British mining giant Glencore rose this morning after it confirmed it has teamed up with the Qatari sovereign wealth fund to finalise a deal dubbed the "largest in the history of Russia". Shares were up 1.3 per cent at 304p in early trading, after Glencore said it had launched a strategic partnership with the Qatar [...]
Asos is creating 1,500 new jobs at its Camden headquarters December 12, 2016 Asos has proven online fashion retail is still firmly en vogue – after it said it wants to create another 1,500 jobs at its Camden headquarters, and is taking another 40,000 sq ft to house them. The roles will stretch across disciplines including technology, marketing, content and retail, it said this morning. That means it [...]
The European Central Bank has rejected Monte dei Pachi’s request for more time to raise cash December 9, 2016 Shares in troubled Italian lender Monte dei Paschi nosedived after reports suggested the European Central Bank (ECB) had rejected its request for more time to raise rescue money. The lender is in the process of negotiating a €5bn (£4.2bn) rescue package with the Italian government. Yesterday it requested until mid-January to seal the deal – but a [...]
