Take two: Ex-Change UK MPs forge new alliance called The Independents July 10, 2019 A splinter group of MPs who were part of Change UK have embarked on another rebranding, forming a new political alliance called The Independents. Read more: All Change UK: Tory and Labour MPs disband after election failure Four MPs have founded a so-called “co-operative of independent politicians” after quitting Change UK early last month, when [...]
Dunelm set to hit higher end of profit range amid sales rise July 10, 2019 British homewares retailing giant Dunelm has forecasted today that its annual profit will be at the higher end of its range, raising its expectations on the back of improved sales. Management has said that full-year profit before tax will be at the upper end of the £124m – £126 range announced last month. Total like-for-like [...]
Housebuilder Barratt expects record profits despite Brexit blues July 10, 2019 Housebuilder Barratt Developments has forecasted a record rise in annual profits this morning, as it presses ahead with a plan to withdraw itself from Central London’s subdued property market. The FTSE 100 developer, which said today it has been making good progress on its strategy to exit Central London, is set to report pre-tax profits [...]
Annual fall in suspect share dealing occurring before takeovers, FCA report finds July 9, 2019 Suspect share price movements that occur before takeover announcements and imply insider trading fell to its lowest level in more than a decade last year, the UK’s financial watchdog revealed yesterday. Roughly one in ten takeovers were linked with unusual share price moves over the course of 2018, according to a “market cleanliness” indicator released [...]
Deutsche Bank share price falls for second day amid turnaround doubts July 9, 2019 Deutsche Bank’s share price took a further knocking today, as investor uncertainty over the firm’s drastic business overhaul showed no sign of easing. Shares in the German lender tumbled a further 3.5 per cent to €6.57 this afternoon, adding to yesterday’s losses after the company unveiled cost-cutting plans to axe 18,000 jobs and shut its [...]
Grounded: Oversupply of coffee beans sends global prices tumbling July 9, 2019 So much coffee is now being produced in the world that global prices are crashing, according to new data. A record seasonal surplus of beans being produced pushed down coffee futures to their lowest levels in more than a decade during April, with a rise in demand for caffeinated drinks failing to stem the plummeting [...]
Hong Kong leader: Extradition bill is ‘dead’ July 9, 2019 The leader of Hong Kong insisted today that a controversial extradition bill which has sparked mass rallies and weeks of unrest is now “dead”. Carrie Lam said in a press conference today that the government’s work on the measure had been a “total failure”, but stopped short of meeting demands to formally withdraw the bill. [...]
Calls for bank forgery claims to be investigated by authorities July 9, 2019 The chair of an influential committee of MPs has demanded that allegations of banks forging signatures should be investigated. Nicky Morgan, who chairs the Treasury Select Committee, has called on the City’s watchdog, the Financial Conduct Authority (FCA), and the National Crime Agency (NCA) to probe claims that home repossessions and other such documents have [...]
Bovis expects half-year rise in profits despite Brexit uncertainty July 9, 2019 Bovis Homes looked to shrug off troubles in the property sector today after forecasting that it will report a significant improvement in profit for the first six months of 2019. The housebuilding giant said it delivered a total of 1,647 house completions in the six months to the end of June, rising from 1,580 during [...]
Losses deepen as Ocado reveals cost of Andover fire July 9, 2019 Ocado suffered a sharp downturn in losses during the last six months as a devastating fire at one of the firm’s flagship warehouses scolded the firm’s performance. The delivery giant’s pre-tax losses slid to £142.8m in the first half of 2019, plunging from £13.6m during the same period in the previous year, as a major [...]
