Fewer firms are going bust despite high profile collapses July 22, 2019 Fewer companies went bust in England and Wales in the second quarter than in the first three months of 2019, according to professional services firm KPMG, despite a handful of high profile business collapses. Read more: Jamie’s Italian to slim down with restaurant closures The number of firms going into administration fell by 14 per [...]
Big four firm EY boosts diversity with new partner intake July 22, 2019 EY today announced that 57 people are to become equity partners at the professional services firm in the UK, of whom 34 per cent are women and 22 per cent are from black and minority ethnic (BME) backgrounds. Read more: EY continues expansion into law Earlier this year EY’s UK business set itself the target [...]
Nearly a third of European firms still not GDPR compliant July 22, 2019 Almost a third of European businesses are still not compliant with the wide-ranging European Union laws on data protection and privacy introduced last year, according to accounting firm RSM. Read more: Data breach reports soar since GDPR as firms fear mammoth fines RSM said medium-sized businesses were “struggling to understand and implement” the General Data [...]
Traders foresee small Fed interest rate cut July 21, 2019 The US Federal Reserve is set to lower interest rates for the first time in nearly a decade when it meets at the end of this month, although there is confusion about the size of the cut. Read more: ‘Faulty thought process’: Trump lashes out at the Fed Market participants now think it is certain [...]
Metro Bank in talks to sell £500m of loans back to US hedge fund July 21, 2019 Struggling lender Metro Bank is set to sell £500m of mortgages back to US hedge fund Cerberus in a bid to shore up its capital position, according to Sky News. Read more: Metro Bank shares fall further amid boardroom bust-up In February 2018 Metro Bank bought £523m of buy-to-let mortgages, mainly made up of London [...]
‘Faulty thought process’: Trump lashes out at Fed – again July 19, 2019 US President Donald Trump renewed his attack on the Federal Reserve today, saying it is due to a “faulty thought process” that it has higher interest rates than other major central banks. Read more: Donald Trump takes credit for China slowdown Trump has long been a vocal opponent of Fed policy which he thinks is [...]
Shareholders rebel at Homeserve over ex-director payouts July 19, 2019 Shareholders dealt home repairs company Homeserve a bloody nose today as 30 per cent voted against the directors’ pay report. Read more: Homeserve maintains strong outlook as investors toast success across the pond Advisory firm Institutional Shareholder Services (ISS) had recommended Homeserve shareholders vote against the remuneration report – which lays out directors’ pay – [...]
Gold hits six-year high as jittery investors run for safety July 19, 2019 Gold hit a six-year high today as impending central bank rate cuts and fears about the world economy sends investors running towards “safe-haven” assets. Read more: Stocks rally as hopes grow of Fed interest rate cut Bullion rose above $1,450 (£1,160) per ounce today, its highest price since mid-2013. Gold has climbed over six per [...]
Sadiq Khan slammed for London rental cap proposals July 19, 2019 Mayor of London Sadiq Khan has been blasted as “economically illiterate” after announcing plans to cap rents on homes in the capital. Read more: Sadiq Khan rejects Tulip tower planning application Khan today called for the government to give him powers to limit the amount rents can rise in London, which has seen rental prices [...]
Anglo American on track for 2019 targets as production rises July 18, 2019 Anglo American increased its production by two per cent in the second quarter, it announced today, aided by a ramp up in its Brazilian iron ore operations. Read more: Anglo American gears up for takeover fight with mining tycoon Anil Agarwal Yet diamond production at the FTSE 100 firm’s De Beers unit dropped 14 per [...]
