UK business confidence slumps to seven-year low November 11, 2019 Confidence among UK businesses tumbled to its lowest level in over seven years last month, according to a new report, as yet more political uncertainty cast gloom over the economy. Read more: Bank of England: Brexit deal and trade wars will hold back UK growth Businesses in Britain’s manufacturing sector were the most pessimistic. Manufacturers [...]
Employers positive about hiring with parties set for spending splurge November 11, 2019 Employers were optimistic that staff numbers will increase in the last three months of the year when polled in September, a survey has shown, as the promised “end to austerity” boosted expectations about job numbers in the public sector. Read more: General Election: Sajid Javid promises to rip up restrictive spending rules Yet despite the [...]
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 [...]
UK weather: ‘Danger to life’ flood warnings in place as river levels rise in northern England November 8, 2019 Severe weather warnings are in place across northern England signifying a “danger to life” as a result of rising river levels. Parts of northern England and the midlands had a month’s worth of rain fall in 24 hours on Thursday and overnight. There are five severe warnings in place along the River Don in Doncaster [...]
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 [...]
UK job growth slows as Bank of England entertains interest rate cut November 8, 2019 The demand for staff from UK employers grew at its slowest rate for almost eight years in October, according to a survey revealed on Friday, appearing to justify two Bank of England rate-setters backing an interest rate cut yesterday. A monthly index of job vacancies from the Recruitment and Employment Confederation and accountants KPMG fell [...]
Charles Taylor share price rockets by more than 10 per cent on higher takeover offer November 8, 2019 Charles Taylor’s share price has jumped by more than 10 per cent this morning after agreeing a higher takeover offer with Lovell Minnick than September’s recommended bid. Directors of the insurance support services provider gave the green light on a 315p per share offer from US private equity firm Lovell two months ago. Read more: [...]
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 [...]
HSBC receives second Bank of England warning over ‘non-financial risks’ November 7, 2019 HSBC has received a second warning from the Bank of England over its lack of progress tackling so-called non-financial risks, according to people familiar with the matter. Read more: ‘Not acceptable’: Profit sinks at HSBC Samir Assaf, chief of global banking and markets at the lender, told other executives on a call this week that [...]
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: [...]