Shares in UK engineer Renishaw fall as profit slumps October 15, 2019 Shares in UK engineering firm Renishaw have fallen 6.4 per cent after the company warned that trading conditions will “remain challenging” and revealed a dramatic fall in profit. Renishaw, which makes high-tech manufacturing machines, said adjusted profit before tax was £4.3m in the three months to the end of September, just a fraction of the [...]
Finance watchdog to crack down on interest-linked car commission October 15, 2019 Britain’s financial watchdog has said it plans to ban auto dealers from taking commission linked to the interest rates on loans used to pay for cars, which it says would save consumers £165m. Dealers and brokers that receive interest-linked commission can currently set the rate, causing a strong incentive for them to act against customers’ [...]
Sterling creeps back up as Brexit deal hopes return October 15, 2019 Sterling has risen against the dollar and euro this morning as investors regain some optimism over a possible Brexit deal. Prime Minister Boris Johnson was boosted yesterday when hardline Tory rebels signalled that they would be willing to vote for a Brexit agreement if it were brought before the Commons. This morning, the European Union [...]
US slaps sanctions on Turkey in bid to stop Syria action October 15, 2019 The US has imposed new sanctions on its Nato ally Turkey in a bid to stop the latter’s military action in Syria, US President Donald Trump said on Monday night. Read more: US poised to impose sanctions against Turkey as Syria assault escalates Trump also phoned his Turkish counterpart President Recep Tayyip Erdogan to request [...]
Climate activists target bankers during second week of protest October 14, 2019 Hundreds of climate protesters shut down traffic at the heart of the City today, accusing the financial sector of “bankrolling the environmental crisis”. Read more: Extinction Rebellion targets Blackrock in day of City protest Activists from protest movement Extinction Rebellion gathered in the rain at around 7am to begin a “day of disruption” that saw [...]
Trio wins economics Nobel Prize for work on poverty October 14, 2019 Economists Abhijit Banerjee, Esther Duflo and Michael Kremer have taken home the 2019 Nobel Economics Prize for their experimental work on the fight to alleviate global poverty, the Royal Swedish Academy of Sciences announced today. Read more: Nobel Prize for literature awarded to Olga Tokarczuk and Peter Handke Duflo, who is from France, became the [...]
European stock markets fall on China data and Brexit October 14, 2019 European stock markets opened lower on Monday after data showed Chinese imports and exports falling and new doubts emerged over a Brexit deal. Germany’s Dax index led Europe downwards, falling 0.6 per cent by 9.30am UK time, while the pan-European Euronext 100 had fallen 0.7 per cent. Britain’s FTSE 100 was 0.4 per cent lower, [...]
Sterling slides as hopes of a Brexit deal falter October 14, 2019 Sterling has dropped half a per cent against the dollar this morning as traders limited their expectations of a Brexit deal. The pound surged at the end of last week when Irish Prime Minister Leo Varadkar said he saw a “pathway” to a “possible” agreement and EU chief negotiator Michel Barnier gave the green light [...]
Julian Dunkerton to stay on as Superdry CEO until April 2021 October 14, 2019 British fashion brand Superdry has said co-founder Julian Dunkerton will stay on as chief executive officer until April 2021. Dunkerton has been interim CEO since April this year, after very narrowly winning a crunch shareholder vote with a pledge to turn the struggling retailer around. In July Superdry fell to a £85.4m loss, from a [...]
New IMF chief Kristalina Georgieva says trade wars to cost global economy $700bn October 8, 2019 The new boss of the International Monetary Fund (IMF) has used her first speech in the role to warn that trade wars, Brexit, and political tensions will push global growth to its lowest rate in a decade. Read more: World Bank’s Kristalina Georgieva unopposed for IMF top job Kristalina Georgieva, the 66-year old Bulgarian economist, [...]
