Heathrow praises PM’s “leadership” in airport expansion decision October 20, 2016 Heathrow airport announced steady earnings growth this morning and took the opportunity to butter-up the Prime Minister in advance of a government announcement on Britain's airport expansion. The numbers Revenue for the nine months to September 2016 nudged up by 1.2 per cent compared to the previous year. It stood at £2.1bn and earnings (Ebitda) were £1.3bn, [...]
Football asks bookies to help boost the integrity of the game October 20, 2016 Football’s global governing body has teamed-up with one of Europe’s largest online bookmakers in an attempt to better safeguard the integrity of the sport. Unibet has signed a co-operation agreement with a subsidiary of Fifa called Early Warning System (EWS), under which the gambling firm will “exchange information with EWS and will co-operate on efforts to improve [...]
Peer to peer lending grows for yet another quarter October 19, 2016 Peer to peer lenders have grown their books by over £2bn since the start of 2016, with cumulative lending now topping £6.5bn. In the last quarter alone, peer to peer lenders have provided £700m of new funding according to the figures, which are prepared by the Peer to Peer Finance Association (P2PFA). Read more: Global expansion [...]
Britain’s banks back in the firing line for potential mortgage calculation failings October 19, 2016 Mortgage lenders may have been over-charging hundreds of thousands of customers in arrears according to UK's banking watchdog. The Financial Conduct Authority (FCA) today announced that it will consult for guidance on whether banks have broken FCA rules and miscalculated mortgage repayments. Read more: Tyrie urges FCA to publish its report into RBS After working with [...]
Branches deliver third quarter earnings growth for UK operations of Swedish-based challenger bank October 19, 2016 Swedish-based UK challenger bank Handelsbanken grew third quarter profits by expanding business volumes and reducing loan losses. The lender posted a nine per cent increase in operating profit for the three months to September across its UK branches, in sterling adjusted terms. The £46.4m generated in the quarter took aggregate operating profit for the first nine months of the [...]
Growth guidance at the lower end of expectations hits Reckitt share price October 19, 2016 Reckitt Benckiser (Reckitt), the group behind some of Britain's best loved consumer brands, posted third quarter results today that led to its share price falling over three per cent in morning trading. The numbers Like-for-like revenue for the quarter grew by two per cent to £2.6bn, although actual revenue was up 17 per cent as a result of [...]
Experts react to dropping of Osborne’s flagship secondary annuity market October 19, 2016 Yesterday's announcement to scrap George Osborne's plans to create a secondary annuity market was unsurprising to many. According to some experts the writing was on the wall as soon as the process was delayed until April 2017. Nevertheless, there was a lot of noise from analysts and experts. Read more: Government bins plans for secondary [...]
BHP laments South Australia blackouts but insists group production is in line with forecasts October 19, 2016 Mining giant BHP Billiton (BHP) has warned that production at its Olympic Dam copper mine was under review after the South Australia project was hit by power blackouts. Reporting on its third quarter operational performance, BHP said that despite this hiccup, group production and unit cost guidance remained unchanged for the 2017 financial year. Read more: SolGold shares jump as [...]
Most Brits do not realise that they’ll be paying more and more into their pension scheme in years to come October 19, 2016 British workers are blissfully unaware of a number of key government initiatives on saving for retirement after wide-ranging report revealed the extent of the country's understanding on workplace pensions. With two-thirds of eligible UK workers now enrolled into a workplace scheme, according to a report prepared by Scottish Widows 68 per cent of people do not realise that their [...]
Gap between RPI and CPI is a £100bn problem for final salary pension schemes October 18, 2016 Experts said that today's inflation figures indicate that £100bn could be saved by switching annual adjustments in pension pay outs from the retail price index (RPI) to the consumer price index (CPI). Defined benefit, or final salary, pension schemes are adjusted for inflation and many have a "hardwire" link to RPI rather than the government's current main reference index, the CPI. RPI for September was [...]
