City of London to be shut out of EU with no equivalence deal from January November 12, 2020 Brussels looks set to lock the City of London out of European markets from 1 January, with the EU not planning on granting regulatory equivalence for the whole bloc before the end of the Brexit transition period.
Brexit news could change outcome of BoE’s December meeting, says Bailey November 12, 2020 Developments in the ongoing trade talks between the UK and EU could affect the chance of the Bank of England’s monetary policy committee (MPC) taking action at its December meeting, governor Andrew Bailey said. Asked if Brexit developments could make the MPC’s next meeting “live”, Bailey said: “I’m sure we will have more information, so [...]
Young’s swings to a loss in ‘toughest period’ of 189-year history November 12, 2020 Pub chain Young’s swung to a loss in what it called one of the “toughest years” in its 189 years of trading, but said it has the resilience to survive the coronavirus crisis. The company this morning said it has the resources and funds to “see through the very worst that this pandemic can throw [...]
BAE Systems set for £1.3bn boost from German Eurofighter deal November 12, 2020 Defence giant BAE Systems will receive a £1.3bn windfall from the German government’s purchase of 38 Eurofighter jets, it was confirmed today. Last week German officials announced the deal, which is worth around €5.4bn in total. The FTSE 100 company is part of an Airbus-led consortium which builds the jet fighter. The Times yesterday reported [...]
Tencent profit surges on smartphone gaming boom November 12, 2020 Tencent almost doubled its profit in the third quarter as the Chinese tech conglomerate continued to cash in on booming demand for its online games. The tech giant, which is the world’s largest gaming firm by revenue, reported a 38.5bn yuan (£4.4bn) profit in the three months to the end of September, up 89 per [...]
Premier Oil production to fall as Chrysaor merger nears November 12, 2020 Premier Oil reduced its production guidance this morning as the oil explorer prepares for its merger with fellow North Sea firm Chrysaor. The London-listed firm said output for the full year would now be 61,000 – 64,000 barrels per day for the year, down from previous forecasts of 65,000 – 70,000 barrels. Recent problems at [...]
National Grid profit slides as Covid costs increase November 12, 2020 Energy firm National Grid posted a 12 per cent decline in profit for the first half as the coronavirus pandemic increased the network owner’s costs. Underlying profit fell from £1.3bn to £1.15bn in the six month period, which the FTSE 100 company said was down to rising bad debt provisions and a shortfall in revenue. [...]
Google critics call for EU to fast-track competition crackdown November 12, 2020 A group of 165 companies and industry bodies has urged the EU to accelerate its crackdown on Google’s alleged anti-competitive practices, warning planned new laws will take too long to come into force. In a joint letter to EU competition chief Margrethe Vestager, seen by Reuters, the critics accused Google of unfairly favouring its own [...]
National Express recovery speeding up before second lockdown November 12, 2020 Coach operator National Express said that its revenue and earnings had continued to rise in the build up to the second national lockdown. In a trading update, the FTSE 250 business said that it had secured around 70 per cent of last year’s revenue in October, up from 60 per cent in August. It added [...]
What does the US election mean for healthcare investors? November 12, 2020 Voting has already begun in the US presidential election with many polls predicting a win for Democrat candidate Joe Biden. A Biden victory has been perceived in many quarters as likely to be negative for the healthcare sector. However, as with everything to do with US healthcare, the reality is more complicated. The main focus [...]
