Neil Woodford points finger at ‘unfavourable’ markets for fund woes September 1, 2019 Neil Woodford defended his under-fire investment strategy over the weekend, citing “unfavourable” conditions and a momentum-driven market for the recent failures within his flagship fund. The former star stockpicker pointed the finger at “a narrow fixation on businesses that are seen as beneficiaries of a reflationary global growth scenario” for the underperformance of his own [...]
Marks & Spencer tipped to drop out of FTSE 100 amid high street troubles September 1, 2019 Marks & Spencer is poised to drop out of the FTSE 100 later this week in a market reshuffle that sheds light on the troubled retailer’s tumbling share price. One of 28 original constituents still in the FTSE 100, M&S is expected to be relegated to the FTSE 250 on Tuesday following a sharp drop [...]
Trade war intensifies as US and China start latest round of tariffs September 1, 2019 The US and China have slapped new tariffs on each other’s goods today, ratcheting up trade war tensions after a turbulent 12 months for global markets. A fresh round of tit-for-tat tariffs have come into effect this morning, with the world’s two largest economies implementing new taxes on imports amid a diplomatic standoff. Read more: [...]
PPI mishap shows tech vulnerabilities of the banks August 29, 2019 The deputy chief executive of a global bank recently summed up what he saw as the sector’s biggest challenge: “Our chief concern is no longer how to attract the best bankers. It is how to attract the best IT staff.” This evening’s shambolic payment protection insurance (PPI) deadline once again put a spotlight on that [...]
Banks buckle under strain of PPI claims August 29, 2019 Some of Britain’s biggest banks came under fire today after suffering a series of IT failures in the run-up to a long-awaited payment protection insurance (PPI) deadline. A number of major high-street lenders were rushing to fix website glitches and jammed phone lines this evening following an 11th-hour stampede of consumers making complaints for mis-sold [...]
On the block: Goals goes up for sale in wake of £12m fraud accusations August 29, 2019 Embattled five-a-side football operator Goals has put itself up for sale this morning, following a torrid six months that has been clouded by accusations of tax fraud. Goals Soccer Centres, which is part owned by retail magnate Mike Ashley, has said today that it is inviting offers for both the business and the assets belonging [...]
City reacts as no-deal Brexit risk looms and pound staggers August 28, 2019 As the political feud intensified in Westminster this afternoon over Boris Johnson’s decision to suspend parliament, over in the Square Mile investors have been reacting to the latest twist in the Brexit drama. The Prime Minister’s plans to suspend parliament sent the pound sliding, while shares in UK airlines and housebuilders – which are typically [...]
Brexit: Sterling sinks as Boris Johnson asks Queen to suspend parliament August 28, 2019 The pound plunged against the US dollar today as Prime Minister Boris Johnson is reportedly preparing to suspend parliament to pursue a no-deal Brexit. Sterling crashed 0.839 per cent to around $1.218 this morning, losing gains from yesterday amid reports that the government is expected to ask the Queen to suspend parliament. This afternoon it [...]
Brexit turmoil takes toll on FTSE housebuilder share prices August 28, 2019 Britain’s housebuilding stocks fell across the board this morning as Brexit turmoil dented investor confidence in the property sector. FTSE developer giants including Berkeley Group, Taylor Wimpey and Persimmon all suffered a drop in their share price as markets reacted to the news that Boris Johnson is planning to suspend parliament next month. Read more: [...]
Deutsche Boerse offices raided in German tax probe August 27, 2019 Deutsche Boerse, the operator for Frankfurt’s stock exchange, has been searched as part of an investigation into a German tax fraud scandal. Public prosecutors have combed through the premises of Deutsche Boerse’s subsidiary Clearstream over a share-trading fraud case in which the German government was allegedly tricked into paying billions of euros in tax rebates. [...]
