Aston Martin shares fall as it warns annual profit will halve January 7, 2020 Aston Martin today warned annual core profit could halve as European sales weakened over its peak Christmas period. The struggling luxury car manufacturer told investors that annual earnings before interest, tax, depreciation and amortisation (Ebitda) will sink to between £130m and £140m. Read more: Aston Martin swings to £13.5m loss as it blames ‘soft’ UK [...]
Soleimani death: US denies Iraq withdrawal after leaked letter January 7, 2020 The Pentagon has said a US general’s letter telling Iraq that US-led coalition troops would withdraw from the country after the death of Iran’s military commander Qasem Soleimani “was a mistake”. Instead, US military officials insisted soldiers would remain in Iraq despite a letter said the US would be “repositioning forces in the coming days [...]
SMMT: UK car sales plunge to six-year low despite electric growth January 6, 2020 British car sales slumped to a six-year low in 2019, as widespread economic uncertainty put the brakes on an industry whose only glimmer of hope came in the form of record electric vehicle sales. New car registrations fell two per cent to 2.31m last year, according to the Society of Motor Manufacturers and Traders (SMMT), [...]
FTSE 100 falls sharply as Soleimani death rocks stocks January 6, 2020 FTSE 100 stocks fell steeply on the opening of London’s market today as tensions between the US and Iran escalated further following the killing of a top Iranian general. London’s blue-chip index sank one per cent to 7,545.4 points in early trading after the US-sanctioned assassination of Iranian general Qasem Soleimani drove markets lower and [...]
Plus 500 profit set to slump 62 per cent after regulatory crackdown January 6, 2020 Plus 500 today warned that annual profit and revenue could fall for the first time in at least three years due to tougher industry regulations. The online trader predicted revenue for its last financial year will hit $354m (£270.7m). That represents less than half of 2018’s total revenue of $720.4m, and comes after a regulatory [...]
Compass chairman Paul Walsh prepares to leave company January 6, 2020 The chairman of Compass is set to step down to pursue other interests. Paul Walsh will remain in his role as chairman and company director until the company finds a successor, and will not seek re-election at the 2021 annual general meeting. Read more: Paul Walsh is planning to leave Compass – report ‘It has [...]
City A.M.’s Christmas quiz: How well do you remember 2019? December 26, 2019 Hello and welcome to City A.M.’s Christmas quiz of 2019! You’ve eaten more than your fill of turkey, endured your uncle’s excruciatingly detailed explanation of his plans for a new shed, and played as many games of charades as you can possibly manage without exploding at your cousin, who has apparently never seen Jaws. So [...]
Will the Bank of England cut interest rates? December 18, 2019 UK inflation data came out today, leaving economists to ponder whether the Bank of England would consider cutting or raising interest rates before the end of 2019 or even early into 2020. The Consumer Prices Index stood at 1.5 per cent in November, flat on October and half a per cent below the Bank of [...]
Fiat Chrysler and PSA agree $50bn mega-merger December 18, 2019 Fiat Chrysler and Peugeot maker PSA have today agreed a $50bn mega-merger to create the world’s fourth largest car manufacturer. The combined PSA-FCA business, which is yet to be branded, will chase annual $4bn cost savings through shares purchasing agreements and by combining technologies. Read more: Fiat Chrysler and PSA’s huge merger could reshape the [...]
UK inflation rate holds steady at 1.5 per cent December 18, 2019 UK inflation remained steady at 1.5 per cent in November, marking no change from October, according to official data released today. While the figure is slightly higher than expectations of 1.4 per cent, it remains below the Bank of England’s target of two per cent. The Consumer Prices Index (CPI) saw its biggest contributions from [...]
