Dear politicians: What the City wants to see in your election manifesto October 29, 2019 With the news of a potential December election hanging in the balance today, the City is bracing itself for another potential new government in Downing Street. Yet while much of the debate in the coming weeks is likely to be centred on Britain’s imminent departure of the EU, the financial sector is hoping to see [...]
FTSE 100 dragged down by Brexit delay ahead of general election vote October 29, 2019 The FTSE 100 edged down this morning as Brexit uncertainty lingered over the City. European markets opened flat today, but UK traders took a more cautious approach ahead of another crucial day of voting in Parliament. London’s blue-chip index fell by 0.5 per cent to roughly 7,297 points, while the Dax was down by 0.2 [...]
African Export-Import Bank postpones London IPO October 29, 2019 The African Export-Import Bank has put its plans to float on hold, delivering a fresh blow to London’s ailing initial public offering (IPO) market. Despite confirming just days ago that it was pressing ahead with plans to list in London, the African trade finance group has now put its IPO on ice, citing “unfavourable market [...]
UK house prices: Growth ‘subdued’ in wake of Brexit slowdown October 29, 2019 House price growth remained below one per cent for the 11th consecutive month in October, as hopeful homeowners sat tight amid Brexit uncertainty. House prices in the 12 months to October rose 0.4 per cent to £215,368, according to the new figures from Nationwide. Read more: House prices suffer slowest October rise in more than [...]
Oops! Stats body admits whopping public finance error of up to £1.5bn October 25, 2019 The UK’s statistics body admitted to a rare error in its public finance data today, making the UK budget deficit between £1bn and £1.5bn less than what had previously been stated. The Office for National Statistics (ONS) has said there was “an error in the measurement of local government social benefits”. Read more: Metro Bank [...]
TK Maxx defies retail gloom as sales top £3bn October 25, 2019 Budget retailer TK Maxx topped £3bn in sales in the last year, shrugging off high street woes with a rise in profit. US group TJX US, which is the parent owner of the fashion group, has reported a 6.4 per cent rise in sales to £3.1bn in the 12 months to February 2019. Read more: [...]
Synthomer shares slide after profit warning October 25, 2019 Chemicals company Synthomer led the London Stock Exchange’s fallers this morning after a profit warnings pushed down shares. The Polymer manufacturer said today that its annual underlying profits before tax would be lower than market expectations if the current macroeconomic troubles carry on over the next three months. Read more: Why The Apprentice is actually [...]
FTSE 100 trades flat amid Brexit caution October 25, 2019 European markets were flat this morning, with UK traders struggling for direction following four sessions of gains. Uncertainty over the future of Brexit has driven caution in this morning’s session, with the FTSE 100 falling by 0.1 per cent. The Dax is down by roughly 0.1 per cent while the Cac is trading flat. Read [...]
Heathrow enjoys record passenger numbers amid rise of US and African traffic October 25, 2019 Heathrow has posted a record number of passengers travelling through its airport this year, as a boon in transatlantic flights helped offset a slowdown in short-haul journeys. The airport hub has said it is expecting its ninth consecutive year of growth after reporting a 0.7 per cent year-on-year rise in passenger numbers to 61m in [...]
Investment banking boost helps Barclays despite £1.4bn PPI charge October 25, 2019 Barclays has confirmed a £1.4bn hit to its balance sheet following a rush of payment protection insurance (PPI) claims. The British bank also warned that a gloomy global economic outlook could make it harder to hit profit targets despite posting a double-digit rise in pre-tax profit for its third quarter today. Read more: Amazon shares [...]
