Moulton to strike Finncap merger with Cavendish October 23, 2018 City broker Finncap is gearing up for a merger with Cavendish Corporate Finance later this week, according to Sky News reports this evening. Veteran venture capitalist Jon Moulton, who bought Finncap eight years ago, is rumoured to be setting up the deal that would combine the two businesses, with plans to list the company on [...]
Lloyds and Schroders sign £80bn joint venture deal October 23, 2018 Lloyds Banking Group and Schroders struck one of the City’s largest ever wealth management alliances this afternoon, joining forces in a multi-billion pound deal aimed at financial planning for wealthy customers. As part of the joint venture, Schroders will take on an £80bn investment contract from Scottish Widows, which is owned by Lloyds. Schroders, which [...]
Brussels rejects Italy’s budget, sending it back to the drawing board October 23, 2018 Politicians in Brussels sent shockwaves through Europe this evening after rejecting Italy’s increased spending plans in a stinging and unprecedented display of authority. In its first ever rejection of a member state’s draft budget proposals, the European Commission today demanded that Italy’s populist government must rein in its fiscal ambitions or potentially face heavy fines. Investors reacted [...]
Lovin it: Rising international sales give boost to McDonald’s shares October 23, 2018 McDonald's reported a 4.2 per cent rise in global sales during the third quarter of 2018, pushing its Wall Street shares up three per cent after the opening bell. Strong demand from the fast-food chain’s international markets helped boost its results this afternoon, in the wake of rising sales in UK, Australian and Japanese markets. [...]
Europe ramps up property investment in central London October 22, 2018 London's appeal as a major hub for overseas investors was underlined by fresh figures today, which showed that the proportion of foreign money being injected into the capital’s commercial property market has hit an all-time high. A resurgence in demand from European buyers has helped drive central London’s booming office space market in the last [...]
Out of the loop: Virgin boss Branson steps down from Hyperloop role October 22, 2018 Sir Richard Branson quit his role as chairman of Virgin Hyperloop One tonight, in a move that comes days after Saudi Arabia said it was scrapping a planned deal with the company following the billionaire’s decision to freeze his ties with the kingdom. In a statement this evening the company, which plans to build a [...]
Morrisons loses ruling on data breach challenge as compensation looms October 22, 2018 Supermarket giant Morrisons faces a mass payout to staff after losing a major court case over a data leak this afternoon, in a ruling which could have implications for all UK businesses. The Bradford-based chain lost its appeal against a High Court ruling that it is legally liable for a former employee leaking personal information [...]
Profit warnings trigger sharpest drop in share prices since financial crisis October 22, 2018 Profit warnings have sparked dramatic share price drops not seen since the height of the financial crisis a decade ago, according to a report out today from accountancy firm EY. FTSE companies that have issued a profit warning in the third quarter of 2018 have suffered an average 21 per cent fall in the value [...]
London Stock Exchange dividends jump amid banking and mining growth October 22, 2018 Shareholders were graced with a bumper third quarter of dividends this year, as a weakened pound and a strong showing from financial and mining firms bolstered payouts. UK dividends climbed 4.1 per cent in the last three months, hitting an all-time third-quarter high of £32.3bn. Underlying payouts, which exclude special dividends, reached £31.6bn, a rise [...]
Travel group Intosol floats in London amid efforts to raise funds for South African expansion October 22, 2018 German-based luxury holiday travel company Intosol is floating on the London Stock Exchange today, as it looks for capital to expand its South African boutique hotel business. Intosol, a high-end travel firm headquartered in Hannover, is listing on London’s main market to fund the acquisition of several hotel sites in South Africa, including a commercial [...]
