Stock market slide continues after Amazon fails to deliver the goods October 26, 2018 The UK stock market slide has continued this morning after disappointing overnight results from US tech giants Google and Amazon. Joshua Mahony, market analyst at IG, said: “European markets are in decline yet again, with the stock market rout that has dominated throughout the month of October showing little signs of letting up.” The FTSE [...]
Heathrow hits record 60m passengers but profits fall on security costs October 26, 2018 Heathrow Airport served a record 60.5m passengers in the first nine months of 2018 but suffered a drop in profit on increased security costs. Pre-tax profit fell 7.4 per cent in the nine months to 30 September to £212m from £229m. Revenue climbed 2.3 per cent to £2.211bn, however operational charges increased with investments to [...]
Singaporean developer snaps up City tower in £385m deal October 26, 2018 Singaporean-listed City Developments Limited (CDL) has acquired a 26-storey tower overlooking the Bank of England for £385m from Blackstone Group. The deal, announced today, represents one of the largest single asset sales in the City of London this year. The property at 125 Old Broad Street occupies a site of 0.7 acres directly overlooking the [...]
British Airways owner IAG glides over profit expectations for quarter October 26, 2018 British Airways owner the International Consolidated Airlines Group (IAG) said today it had increased its profit for the quarter to €1.46bn (£1.3bn) up from €1.45bn last year. The results beat the company compiled consensus figures of €1.43bn. Operating profit for the nine month period was €2.575bn a 7.3 per cent increase on €2.4bn last year. IAG [...]
Insurer Hastings share price plunges after it warns of competitive market October 25, 2018 Investors slammed insurer Hastings this morning after it warned that a competitive market meant that it was likely to perform at the lower end of its announced range. Its share price crashed more than 16 per cent this morning. Having started the day on 216p it hit a low of 183p before recovering slightly to [...]
Swiss bank UBS ahead of market expectations in third quarter results October 25, 2018 Swiss banking giant UBS unveiled net profit of 1.246bn Swiss francs (£970m) for the third quarter of 2018, beating analysts expectations. The results amounted to a 32 per cent jump in third quarter earnings, beating the consensus expectation of 993m Swiss francs. Read more: Former UBS trader Adoboli nears deportation as judge denies judicial review [...]
Lloyds Banking Group beats profit expectations in third quarter October 25, 2018 Lloyds Banking Group announced pre-tax profit of £1.8bn in the third quarter today, beating analyst expectations of £1.7bn. In the three months to 30 September revenue rose to £4.686bn from £4.62bn during the same quarter last year, while profit before tax dipped seven per cent to £1.8bn. Read more: Lloyds and Schroders sign £80bn joint [...]
Quilter blames market conditions for fall in cash inflows in third quarter October 24, 2018 Wealth manager Quilter has blamed market conditions for a fall in net client cash flow (NCCF) to £1.1bn in the third quarter. Cash inflows (excluding Quilter Life Assurance) dipped from £1.9bn compared to the same quarter last year, a drop of 42 per cent. Read more: Quilter posts strong debut profits after growth in new [...]
Passengers warned not to travel to Waterloo station after major signal failure October 24, 2018 Rail passengers have been urged not to travel to Waterloo station this morning after a major signalling failure. South Western Railway advised passengers not to travel to Waterloo and to seek alternative arrangements. Read more: Revealed: London's worst train station Network Rail said in a statement: "There is a major signalling failure which is affecting [...]
Who the heck is Nick Clegg? Seven facts about Facebook’s new spin chief October 20, 2018 Facebook’s decision to hire the UK’s former deputy prime minister Nick Clegg as its communications chief was one that seemed to come out of left field. Clegg had previously held a prominent role in British public life as head of the UK’s third party the Liberal Democrats between 2007 and 2015 and the UK’s deputy prime minister between [...]