Gam loses a fifth of assets as it blames ‘clear setback’ of fund manager’s suspension October 23, 2018 Under-fire asset manager Gam lost around 20 per cent of its investment management funds in its latest quarter, as it struggles to make gains following the suspension of a portfolio manager. Group assets under management fell from SFr 163.8bn (£126.8bn) in June to SFr 146.1bn for the three months to the end of September, the firm [...]
Tube delays: Signal failure causes delays on Northern Line’s Charing Cross branch October 23, 2018 Delays are affecting the Northern Line this morning after a signal failure. Commuters travelling southbound between Camden Town and Kennington on the Charing Cross branch of the Northern Line faced severe delays after the signal failure at Euston. Transport for London (TfL) said local buses will accept Tube tickets if commuters are able to get [...]
Italy claims its budget plans won’t hurt the EU’s financial wellbeing October 22, 2018 Italy’s expansionary budget will not risk the EU’s financial health, the country claimed today as it seeks to counter Brussels’ criticism of its latest spending plans. Economy minister Giovanni Tria wrote to the European Commission to say that the public spending outlined in Italy’s budget are crucial in order to kick start economic growth in [...]
BP and Shell get green light for North Sea joint venture, drilling for 20m barrels of oil October 22, 2018 BP and Shell received approval for their 50-50 joint Shetland venture today, which they predict could produce 20m barrels of oil. The Alligin oil field in the North Sea should produce 12,000 barrels of oil per day at its peak once it comes on stream in 2020, the oil giants said. Read more: BP wins [...]
Ryanair profits slide as strikes, cheaper fares and higher fuel costs impact bottom line October 22, 2018 Ryanair saw half-year profits decline this morning to round off a troubled few days at the budget airline. The results Cheaper fares, higher fuel costs and strikes all hit Ryanair’s bottom line, taking post-tax profits down seven per cent year-on-year to €1.2bn (£1.1bn) for its crucial April to September trading period. Read more: Photo of Ryanair crew [...]
EU seeks to lessen tensions with Italy as the eurozone economy posts halting growth for third quarter October 19, 2018 The EU hopes to reduce tensions with Italy over its inflammatory 2019 budget, according to European economics commissioner Pierre Moscovici. Saying no decision had yet been made about whether or not Italy's budget would pass muster with the European Commission, Moscovici told a news conference today that he wanted to “reduce tensions and maintain a [...]
Ebay snaps up Motors.co.uk as it races Autotrader for car dealerships’ spending budgets October 19, 2018 Bidding platform Ebay is set to acquire car search site Motors.co.uk as it takes on Autotrader. The online shopping giant will buy the website from current owner Cox Automotive for an undisclosed sum, Cox said today. Read more: MPs urge government to ban diesel and petrol cars by 2032 Ebay plans to fold the website [...]
Turkey claims it has evidence of ‘who is responsible’ for missing journalist’s alleged murder October 19, 2018 Turkey claimed today that it knows who is behind the disappearance and possible death of Saudi journalist Jamal Khashoggi. Turkey, which has also said it is in possession of audio and video recordings of the Washington Post journalist’s alleged murder, said “information and evidence [are] in hand”. Read more: DEBATE: Should firms drop out of [...]
Public borrowing falls to a 16-year low ahead of Philip Hammond’s autumn Budget October 19, 2018 Public borrowing fell to a 16-year low for the current financial year-to-date, figures released today reveal. The deficit stood at £19.9bn for the year to September, £10.7bn less than the same period a year ago and the lowest for the year-to-date since 2002. Read more: British consumer borrowing growth slowest since 2015 as debt stutters [...]
Brexit deal is 90 per cent agreed, says Barnier, but Northern Ireland impasse may scupper it October 19, 2018 A Brexit deal between the UK and the EU is very close to completion, politicians on both sides of the table said this morning. However, the prospect of reaching an agreement is still in doubt, said the EU’s chief negotiator, Michel Barnier. “Ninety per cent of the accord on the table has been agreed with [...]
