Lidl ramps up expansion plan with 230 new stores November 10, 2019 Lidl’s expansion spree is set to accelerate, with the German discounter planning 230 extra store openings. The new store plan, first reported today in the Sunday Times, is the latest in a string of bullish moves from Lidl and Aldi, which have been snapping up an increasing share of the grocery market. In a bid [...]
Authorities raid Greek banks in collusion probe November 8, 2019 Greece’s biggest banks have been raided by authorities, the country’s watchdog said today. The head offices of National Bank, Eurobank, Alpha Bank, Attica Bank and the Greek bank association were all searched by inspectors as part of an investigation. Read more: HSBC receives second Bank of England warning Bankers told Reuters that the offices had [...]
General Election 2019: Boris Johnson and Jeremy Corbyn to go face-to-face in BBC debate November 8, 2019 The BBC is set to host a live debate between Boris Johnson and Jeremy Corbyn. The party leaders will go head-to-head in a televised debate on 6 December, just days before the general election. Jo Swinson, the leader of the Liberal Democrats, has not been asked to attend the debate. Read more: General Election announcement [...]
RBS launches ‘social bond’ for deprived areas November 8, 2019 The Royal Bank of Scotland (RBS) has launched a “social bond” aimed at boosting lending within deprived areas of the UK. The banking giant announced this morning that the bond would be linked to roughly £2.5bn of lending to small firms in disadvantaged areas. Read more: HSBC receives second warning from Bank of England An [...]
Billionaire boom slows down as uncertainty hits the super-wealthy November 8, 2019 The billionaire boom has grounded to a halt, as a year of political upheaval took its toll on the world’s super-wealthy. A new report has found that billionaires’ wealth dipped by $388bn in 2018, following five years of growth. Read more: Bovis Homes agrees £1.1bn deal for Galliford Try housing business While the Americas saw [...]
Standard Chartered slashes CEO and CFO pay in wake of revolt November 8, 2019 Standard Chartered said today that it has slashed the pension payouts to its two top bosses, bowing to shareholder demands in the wake of a major investor rebellion. Chief executive Bill Winters and chief financial officer Andy Halford will see their retirement allowance dropped from 20 per cent of their annual salary to 10 per [...]
Hiring remains subdued amid uncertainty November 8, 2019 Hiring activity remained subdued last month as employers held tight amid the current Brexit uncertainty, according to a new report. Permanent staff appointments fell solidly at the start of the fourth quarter, with many employers choosing to cancel or postpone hiring until there was greater clarity over the outlook. Read more: Can business models like [...]
Commerzbank forecasts profit drop amid challenging conditions November 7, 2019 Commerzbank has warned that its profit for the year will be below previous expectations, as lower for longer interest rates take their toll on the German banking giant. Citing the negative impact of monetary policy and geopolitical uncertainty, the lender said that net profit for the year would be lower than last year. Read more: [...]
Bovis Homes agrees £1.1bn deal for Galliford Try housing business November 7, 2019 Bovis Homes has agreed to snap up Galliford Try’s housing arm for almost £1.1bn. The housebuilders have shaken hands on a deal that will see Bovis stump up £300m cash and £675m in shares to acquire Linden Homes and Galliford Try Partnerships & Regeneration. Read more: Uncertain times are leading to London property microclimates The [...]
Changing times: Market leaders and investor groups call for shorter working day on trading floors November 7, 2019 The daily bustle on Europe’s high-octane trading floors should be cut short by more than an hour in a bid to improve mental health and diversity, two of the financial industry’s most influential bodies have urged this morning. The London Stock Exchange (LSE) has said it will begin a formal consultation looking at working hours [...]
