Federal Reserve chair Powell defends interest rate increases following Trump’s criticism August 24, 2018 Federal Reserve chair Jerome Powell defended the policy of increasing interest rates to protect the economy today, following President Donald Trump’s attacks on rate increases. Powell said he believes the policy of gradual interest rate increases “remains appropriate” for the US economy. “The economy is strong. Inflation is near our two per cent objective, and [...]
Standard Life UK Smaller Companies Trust beats index August 24, 2018 Standard Life UK Smaller Companies Trust said today it beat its reference index in the last financial year. Its total return for the year to the end of June was 24.8 per cent, compared to the Numis Smaller Companies Plus AIM Excluding Investment Companies Index which had a return of eight per cent. Read more: [...]
TGI Friday’s private equity owner Electra ends buyout talks August 24, 2018 UK private equity firm Electra which owns TGI Friday’s today confirmed it had ended talks about a possible buyout of the company. Electra did not say who the interested parties were, but it had been talks about a possible sale since May. Read more: CEE private equity investment hits record high It said talks for [...]
Drama down under as Aussies appoint new Prime Minister August 24, 2018 Australia appointed Scott Morrison as its sixth Prime Minister in less than 10 years in the early hours of this morning after Malcolm Turnbull was ousted from the role last night. Morrison was previously Australia’s Treasurer, equivalent to the UK’s Chancellor, having been first elected to Australia’s House of Representatives in 2007. He was elected [...]
Credit Suisse fires two London bankers after sexual harassment investigation August 23, 2018 Credit Suisse has fired two City bankers after an investigation into allegations of historic sexual harassment. The bank has fired the senior banker at the centre of the 2010 incident and a second manager who hindered the original investigation. Read more: Uber settles sexual harassment claims for $1.9m The alleged assault took place in 2010 [...]
Dominic Raab says good deal ‘within our sights’ as no-deal Brexit documents released August 23, 2018 Brexit secretary Dominc Raab will today insist that "a good deal is within our sights" as he releases the first tranche of the government's no-deal planning documents. The publication of these technical notes comes as a new survey by City heavyweights KPMG suggests that no-deal Brexit would cause a dramatic contraction in consumer spending, with [...]
Saudi Arabia denies reports the $2 trillion Aramco float has been cancelled August 23, 2018 Saudi Arabia’s energy minister today denied reports that plans to float part of its state oil and gas company Aramco had been cancelled. “The government remains committed to the initial public offering of Saudi Aramco, in accordance with the appropriate circumstances and appropriate time chosen by the government”, Energy Minister Khalid al-Falih said in a [...]
Phoenix expects to beat cash targets as £3.2bn Standard Life Assurance acquisition nears close August 23, 2018 Insurer Phoenix Group said today it expects to beat its target for cash generation this year as it announced its half-year results. Phoenix, which focuses on acquiring life insurance units that are closed for new business, said its acquisition of Standard Life Assurance for £3.2bn was progressing well with the deal expected to close on [...]
Tory Party receive more in fees from the dead than from living members August 22, 2018 The Conservative Party received more money from the dead last year then it did from living members. Figures released yesterday by the Electoral Commission show the Tories received £835,000 from membership fees in 2017, compared to £1.7m from bequests. Read more: Exclusive: Tory members plot Brexit rebellion at party conference Members’ dues dropped 43 per [...]
Former Arsenal shareholder settles lawsuit with Deloitte and Linklaters August 22, 2018 Former major Arsenal Football Club shareholder Lady Nina Bracewell-Smith, has settled a lawsuit with her advisers over the sale of her shares in the club in 2011 to US businessman Stan Kroenke. Bracewell-Smith accused magic circle law firm Linklaters and Big Four accountant Deloitte of negligence in relation to the sale of her 15.9 per cent stake [...]
