Thomas Cook shares plummet almost 10 per cent as “cautious” outlook for coming year reflects political turbulence ahead February 9, 2017 Thomas Cook has reported it reduced its year-on-year loss in its first trading quarter, but warns it remains “cautious” for the coming year with an uncertain outlook across Europe. Shares fell by as much as 9.78 per cent in morning trading in London. The figures The group’s losses in the quarter fell by £1m to [...]
Zurich profits up as chief executive’s turnaround plan takes hold February 9, 2017 Profits at Zurich soared as the Swiss insurer cut costs and operating profit at its general insurance segment rose by 182 per cent. The figures Full year net income attributable to shareholders rose 74 per cent to $3.2bn (£2.6bn). Fourth quarter income swung from a loss of $424m in 2015 to a gain of $685m. [...]
UK’s small businesses confident it can grow profits as it turns to global exports after Brexit February 9, 2017 Small businesses in the UK are confident about their future business prospects in the face of Brexit as they move their focus to export growth, according to a survey of executives. Half of British small-business executives think they can increase revenues by at least four cent over the next year, according to the survey by [...]
The UK economy is gaining momentum despite Brexit fears, says the OECD February 8, 2017 UK economic growth is gaining momentum despite concerns over Britain's future EU trade deal, according to the Organisation for Economic Co-operation and Development (OECD). The composite leading indicator rose to 99.5, according to the group of richer nations, continuing a clear upward trend from July 2016, the month after the UK's referendum on EU membership. The [...]
UK investment levels expected to stay low says Bank of England February 8, 2017 The Bank of England says it expects investment levels to stay weak in the UK, as it finds four in five publicly owned firms saying pressure to create short-term returns has dented investment levels over the past five years. Sir Jon Cunliffe, a deputy governor and member of the rate-setting Monetary Policy Committee, said in a [...]
The euro dips against the dollar and the pound as investors refocus on Marine Le Pen and Greece February 8, 2017 The euro fell against the pound and the dollar in morning trading as political fears come increasingly into focus. The euro fell as low as $1.0641 against the US dollar, its lowest point since the end of January. Meanwhile the pound rose against the euro to highs of €1.1751. Recent turmoil in the right wing [...]
Hargreaves Lansdown profits jump as retail investors put money to work around Brexit February 8, 2017 Profits before tax at retail broker Hargreaves Lansdown grew by more than a fifth in the second half of 2016, as booming inflows stymied fears investors would hold on to their cash after the Brexit vote. The figures Pre-tax profits rose 21 per cent in the last six months of 2016 compared with the first half [...]
Rio Tinto announces $500m share buyback as profits rise on iron ore price rises February 8, 2017 Rio Tinto has announced a $500m (£400m) share buyback programme after full-year profits rose. The figures The miner reported underlying earnings jumped to $5.1bn (£4.1bn), up 12 per cent from $4.5bn in 2015. Earnings per share jumped even further, with a 14 per cent rise to $2.83. Rio Tinto also cut $1.6bn of costs in [...]
London wage growth reaches 10-month high as recruiters report staff shortage concerns February 8, 2017 Wages in London grew at the fastest since March last year during January, as UK-wide demand for staff reached a 17-month high, a new survey shows. Almost a fifth of the London recruitment firms surveyed said average salaries were rising, compared to only 4.8 per cent who reported lower salaries, according to the figures from [...]
The FTSE 250 has closed at a record high after an MPC member hinted at an impending rate rise February 7, 2017 The FTSE 250 closed at a record high and the pound surged by more than a cent in afternoon trading, after a member of the Bank of England's monetary policy committee (MPC) hinted at an impending interest rate rise. The FTSE 250 rose to 18,559.7 points, one per cent higher, while the pound was sent [...]
