Design flaws linked to Boeing’s Lion Air crash, families of victims told October 23, 2019 Design troubles in Boeing’s 737 Max have been linked to the crash of a Lion Air flight which killed almost 200 people. Indonesia has reportedly shared a report into the details of a deadly crash with the families of victims, revealing that the Lion Air 737 MAX’s Maneuvering Characteristics Augmentation System (MCAS) was based on [...]
Metro Bank chairman Vernon Hill insists ‘best is yet to come’ after quitting with immediate effect October 23, 2019 Metro Bank chairman Vernon Hill is stepping down today with immediate effect, resigning from the embattled lender after a torrid 12 months. The colour and controversial chairman has insisted that “the best is yet to come” for the troubled bank, which is set to reveal its third-quarter results after the bell today. Read more: Bond [...]
McDonald’s misses estimates October 22, 2019 Wall Street investors found McDonald’s stock tough to swallow this afternoon after the fast food giant missed quarterly earnings and revenue expectations. Shares in the chain dropped three per cent in pre-market trading, as same-store sales in its home US market fell below expectations amid intense competition during the last three months. The firm reported [...]
Recruiters can determine your social class after just seven words October 22, 2019 Job-hunters often bemoan the lengthy process of applying for a role, but new research suggests that those in the hiring seat often make their decision based on social class within just a matter of seconds. Academics from Yale University have published evidence of a class bias in recruitment that is predicated on the first seven [...]
European markets open flat as cautious traders await Brexit showdown October 22, 2019 European markets opened flat this morning, as traders remained cautious ahead of a crucial three days for Prime Minister Boris Johnson’s Brexit deal. The FTSE 100 is trading down at 0.2 per cent, with Anglo American and Glencore taking the biggest gains while Reckitt Benckiser leads the fallers after posting mixed results. The Dax and [...]
UBS profits slump as trade war tensions and low interest rates bite October 22, 2019 UBS suffered a double-digit drop in profit over the last three months, as the banking giant echoed many of its rivals by flagging concerns over the future of the global economy. The Swiss lender reported that adjusted pre-tax profits for the third quarter slumped 16 per cent when compared with the same three-month period in [...]
Bottom third of banks facing ‘do or die’ moment, report warns October 22, 2019 More than a third of banks across the world must merge with rivals or radically restructure in order to survive any future downturn, according to a new report out this morning. Flattening yield curves, weakening consumer confidence and slowing growth in volumes and top-line revenues all pose a “do or die” moment for a large [...]
City groups join forces for new mental health care commitments October 21, 2019 City businesses are joining forces with charities today in an effort to promote mental health care in the work place. Leading business and non-governmental figures have signed up to the Mental Health at Work Commitment, a set of standards for the industry which launched this morning. Read more: Accountancy sector lagging behind business on diversity, [...]
Standard Chartered boss ‘to take pay cut’ after investor revolt October 21, 2019 The boss of Standard Chartered is reportedly planning to take a pay cut in an effort to pull the curtain down on one of the firm’s largest corporate fallouts in recent years. Chief executive Bill Winters is preparing to accept a voluntary cut in pay following a shareholder rebellion over the bank’s remuneration policy, according [...]
Capital & Counties share price climbs as property tycoon Nick Candy eyes bid October 21, 2019 Shares in Covent Garden owner Capital & Counties jumped this morning after high-end property tycoon Nick Candy confirmed he is considering a possible offer for the group. Candy Ventures, the investment vehicle owned by Nick Candy, has said it is in early talks for a possible cash off for Capco, which has a market value [...]
