Businesses to receive boost following restoration of Night Tube services for first time since pandemic July 28, 2022 London businesses are set to receive a boost after Night Tube services have been restored in full for the first time since the pandemic. “As visitors and employees return to London, a safer and reliable mode of transport is a crucial service to help raise footfall and aid the economic recovery of our businesses,” said [...]
Where next for brent crude and gold? July 28, 2022 Brent crude and gold are on the rise following the FOMC meeting. Gold Gold has been on the rise over the course of the past 24-hours, with price pushing into a fresh two-week high thanks to Federal Reserver chair, Jerome Powell’s commentary that eased expectations over future rate hikes. The break through Friday’s high of $1739 [...]
Metro Bank losses narrow despite big loan-loss reserve charge July 28, 2022 A ramping up in lending to riskier borrowers and an anticipated uptick in defaults caused by inflation surging to a 40-year high has led Metro Bank to set aside millions of pounds of loan-loss reserves. The lender, which has been grappling with severe under performance for years, narrowed losses in the six months to June [...]
TfL granted deadline extension as it looks at Govt proposal July 28, 2022 Transport for London (TfL) was granted a week extension of the current government funding. The public body was given until 3 August while it continues to revise a £3.6bn proposal put on the plate by transport secretary Grant Shapps last Friday. “We are considering whether the proposal from the government meets that need and if [...]
More than 100,000 Ukrainian refugees have settled in Britain since start of Kremlin’s war July 28, 2022 More than 100,000 Ukrainians fleeing the Kremlin’s war have made their homes in the UK. 25,300 who have had visas approved are still awaiting confirmation, through the Family and Sponsorship schemes set up earlier this year. More than 70,000 refugees arrived in Britain through the UK government’s sponsorship scheme, which allows applicants to settle if [...]
UK’s financial watchdog fines three Carillion executives over misleading statements July 28, 2022 The UK’s financial watchdog today fined three former Carillion executives for “recklessly” publishing misleading statements prior to the construction firm’s collapse in 2018. The Financial Conduct Authority (FCA) said it would have also fined the company itself a sum of £37.8m if it were not for the firm’s 2018 bankruptcy. The FCA’s sanctions saw Carillion’s [...]
CMC Markets shares plunge after cost warning July 28, 2022 Shares in CMC Markets plunged over 20 per cent this morning after the online trading platform issued a warning that soaring costs would eat into profits in the six months ahead.
National Express ‘well-positioned’ for future as bus titan posts highest revenue increase in decade July 28, 2022 National Express said it was “well-positioned” for the future as the transport titan posted its biggest revenue increase in over a decade. “We’re well positioned to manage inflationary pressures and the potential impact of an economic downturn,” chief executive Ignacio Garat told analysts this morning. In the six months ended 30 June, National Express brought [...]
Surge in loan-loss reserves poison Santander profits July 28, 2022 Funds set aside to deal with an expected jump in loan defaults caused by borrowers’ being squeezed by a historic inflation surge has whacked Spanish bank Santander’s profits. The lender, which has a big presence in the UK, banked over €500m (£420m) in loan-loss reserves over the three months to June, up 25 per cent [...]
High profile scandals saw UK’s audit watchdog hand out record £46.5m in fines last year July 28, 2022 The UK’s Financial Reporting Council (FRC) issued a record £46.5m in fines over the past year, after the audit watchdog handed out a series of huge fines to Britain’s top accounting firms in the wake of a series of high-profile accounting scandals. The value of fines issued by the UK’s Financial Reporting Council (FRC) [...]
