Citigroup beats expectations but revenues still fall October 14, 2016 One of the US' largest lenders has surprised and delighted investors by reporting a smaller than expected fall in revenues. The figures Revenues fell five per cent to $17.8bn (£14.6bn) in the third quarter, beating expectations of $17.3bn. Meanwhile, net income fell 11 per cent to $3.8bn, pushing earnings per share down to $1.24, from $1.31 the year before. Banking revenues fell six per cent to $4.1bn, although investment banking [...]
Sterling is all over the place today October 14, 2016 The pound spent the morning lurching wildly around as threatening comments from European jostled with a rather more soothing tone from Bank of England governor Mark Carney. Although sterling fell as low as $1.2171, as the morning wore on it rose to $1.2240, 0.1 per cent down against the dollar. Meanwhile, it headed into positive [...]
Marmitegate: A typical story of belligerent boardrooms October 14, 2016 Marmitegate – it divided the nation. You might even say it spread fear. Either way, Tesco revealed last night that it has resolved its feud with Unilever, producer of everything from Marmite to Ben & Jerry’s ice cream, after the consumer goods giant tried to impose a blanket 10 per cent price hike on its products due [...]
Deutsche Bank has implemented a hiring freeze October 13, 2016 Shares in Deutsche Bank tumbled this morning, after reports suggested the troubled lender has implemented a hiring freeze. Bloomberg reported chief executive John Cryan had emailed divisional chief operating officers ordering them to stop hiring with immediate effect. That caused shares in Deutsche to fall almost 2.9 per cent to €12.03. The freeze will affect all areas of the [...]
The British Chambers of Commerce has finally found someone to replace John Longworth as director general October 13, 2016 Remember John Longworth, the director general of the British Chambers of Commerce (BCC) who stepped down after he came out in favour of Brexit? Well, after more than six months without an official boss, the BCC has finally named his replacement – it's Adam Marshall, the man who has been acting director general all along. Marshall, who [...]
BBC to cut 300 jobs in its production arm October 13, 2016 The BBC will cut 300 jobs in its production arm as part of a wide-ranging restructuring, it said today. The broadcaster said the number of staff at BBC Studios will be slashed as it continues to cut costs – with most of the job cuts taking place in England. As part of the BBC's cost-cutting drive, it has [...]
Shock, horror, Bovril: Here’s how Twitter has reacted to Marmitegate October 13, 2016 A nation is in shock after Tesco said it is locked in a battle with Unilever over a potential 10 per cent price hike. As it stands, Tesco has admitted it may start to run out of Unilever's brands, which include Dove and Persil. And experts have warned this may not be the last threatened shortage of household staples in [...]
How low can it go? Sterling falls against the dollar and the euro again October 13, 2016 If anyone thought yesterday's rise in sterling was anything more than a fluke, today convinced them otherwise: the pound fell against both the dollar and the euro in early trading. Sterling stayed firmly below $1.22 in early trading, falling 0.3 per cent against the dollar to $1.269 – and after briefly edging closer to €1.11 [...]
Looking for a bit on the side? These are the UK’s best-paying part-time jobs October 13, 2016 Looking for a bit of extra cash, or just want to reduce your hours? You're not alone – the number of people doing part-time jobs has jumped in recent years. But now a study has found the best-paid part-time jobs – and it turns out teaching really is a rewarding career. According to Glassdoor's analysis, university [...]
Ronald McDonald is the most tragic victim of the UK’s killer clown craze October 12, 2016 The so-called killer clown epidemic has claimed its latest victim: Ronald McDonald. McDonald's may be creating jobs – but its red-haired mascot is "keeping a low profile" after reports of pranksters dressed as clowns and wielding weapons around the UK increased. ITV reported that McDonald's had said it was "being thoughtful in respect to Ronald McDonald's [...]
