Goldman Sachs and UBS’s £1 RBS and Lloyds bank share sale fee baffles top MPs September 9, 2015 An influential committee of MPs was puzzled yesterday by the revelation that some of the City’s biggest firms had charged the government just £1 for handling the sale of shares in Royal Bank of Scotland and Lloyds. Top officials from UK Financial Investments (UKFI) – the body that manages the government’s stake in the lenders – [...]
George Osborne: The EU needs the City of London to be successful in business September 9, 2015 The success of the Square Mile is of paramount interest to the European Union and the Eurozone, chancellor George Osborne told peers yesterday. “The health of the City is an EU and Eurozone interest,” Osborne told the Lords Economic Affairs Committee. But responding to a question from Lord Kerr of Kinlochard, Osborne also [...]
Amlin deal boosts share price and sterling September 9, 2015 SHARES in Amlin rocketed by 32.99 per cent yesterday, after the board of the Lloyd’s of London insurer recommended a £3.5bn offer by Japan’s Mitsui Sumitomo Insurance (MSI). Amlin revealed that MSI had offered 670p per share, a 36 per cent premium to Amlin’s closing price on Monday. Just two weeks ago Amlin boss Charles [...]
UK pension changes prove positive for insurance group LV as half year profit jumps September 9, 2015 Insurance group LV reported a 103 per cent jump in operating profit during the first half of the year, a period in which the firm said it had altered its offering to suit changing customer needs. Group operating profit was up to £79m in the six months to 30 June, from £39m in the [...]
London is dating spot of choice for high-flyers and business travellers September 9, 2015 Have you ever found love on your business travels? Do you get hot under the collar at the mention of a visit from foreign investors? Good news for lovelorn City workers then, as London has emerged as one of the best business destinations to get a date. Whether it’s to tour our historical landmarks or [...]
Pizza Express forced to redivide the dough September 9, 2015 Pizza Express has bowed to customer pressure and given waiting staff a bigger slice of the tips they receive when customers pay by credit or debit card. Eight in 10 of us usually tip waiters, so it is no surprise campaigners had targeted the restaurant chain over its failure to grant 100 per cent [...]
Brewer Greene King raises glass to solid sales September 9, 2015 PUB OPERATOR and brewer Greene King said yesterday that it recorded solid sales growth in the first 18 weeks of the year. Like-for-like sales in Greene King Retail grew by 1.3 per cent with growth of 1.9 per cent in the last 10 weeks. The company said when excluding the continued impact of stricter drink-driving [...]
Lufthansa firm as 1,000 flights stay on tarmac September 9, 2015 LUFTHANSA, the German airliner has cancelled around 1,000 flights today after a pilot strike was extended from long-haul flights to medium- and short-haul flights. Europe’s largest airline operator said that around 140,000 passengers will be affected as some of the medium- and short-haul aircraft fly up to eight times a day. Yesterday’s strike, the 13th [...]
Economists urge caution over large drop in Chinese exports September 9, 2015 CHINESE exports dropped sharply in August, but economists were quick to point out the data did not point to a slowdown in global demand. A fall in a country’s exports can signal that demand from abroad is weak, but this is unlikely to be the case according to Paul Donovan, an economist at UBS. “In [...]
EU data boost FTSE amid hope for China upturn – London Report September 9, 2015 The UK’S top share index rallied yesterday, extending its gains from the previous session with a boost from better-than-expected Eurozone second quarter GDP data and hope for further market stimulus on Chinese markets. The FTSE 100 was up 1.2 per cent at 6,146.10 points at the close, lagging blue-chip German stocks. The European Union’s statistics [...]
