Metro Bank to be loss-making ‘in 2020 and beyond’, Barclays warns October 24, 2019 City experts have warned of further pain to come at Metro Bank after the troubled lender revealed widening losses last night. Metro Bank reported underlying losses before tax of £3.6m for the first nine months of the year after the bell closed yesterday, falling from £25.1m last year as a result of a major accountancy [...]
Profit sinks at Premier Inn owner Whitbread as Brexit uncertainty hits hotel demand October 22, 2019 Profit slipped at Premier Inn owner Whitbread in its latest half-year as the company grappled with a weak UK travel market after selling coffee chain Costa to Coca-Cola last year. Read more: Whitbread share price tumbles on Barclays downgrade The figures Pre-tax profit fell 7.1 per cent to £220m, down from £237m this time last [...]
City groups join forces for new mental health care commitments October 21, 2019 City businesses are joining forces with charities today in an effort to promote mental health care in the work place. Leading business and non-governmental figures have signed up to the Mental Health at Work Commitment, a set of standards for the industry which launched this morning. Read more: Accountancy sector lagging behind business on diversity, [...]
Brexit secretary tells MPs: Back landmark Brexit bill if you want to leave EU by Halloween October 21, 2019 The government has confirmed it will bring forward its “landmark Brexit bill”, as it continues to press ahead with its aim of leaving the EU by 31 October. The bill, which will enshrine Boris Johnson’s 11th-hour deal in law and pave the way for a Hallowe’en departure from the EU, is being introduced today ahead [...]
Traders braced for busy week as pound opens flat and European markets edge up October 21, 2019 Traders are bracing themselves for a fresh week of market mayhem amid trade war negotiations and Brexit uncertainty. Optimism over an end to the US-China tariff battle has pushed European markets up slightly after the opening bell this morning, with both the German Dax and the FTSE 100 rising 0.4 per cent. Read more: Speaker [...]
Barclays UK chairman Sir Ian Cheshire: Get on with Brexit October 21, 2019 Barclays UK chairman Sir Ian Cheshire has urged the government to press ahead with Brexit, becoming the latest City figure to express his frustration at the continued uncertainty in Westminster. The pro-Remain businessman, who was previously the boss of Kingfisher, told the BBC this morning that Downing Street’s agreement with the EU is “an acceptable [...]
Boris Johnson’s deal is on a knife edge as Angela Merkel calls on EU to support Brexit delay October 18, 2019 Angela Merkel is said to have told other EU leaders a Brexit extension would be inevitable should MPs reject Boris Johnson’s withdrawal deal. The German Chancellor told fellow European leaders they could not pretend there would be no extension if the UK requested one, according to reports. Read more: PM Johnson scrambles to save Brexit [...]
City Moves for 18 October – Who’s switching jobs at RSM, Black Isle and Octopus? October 18, 2019 Today’s City Moves includes RSM, Black Isle and Octopus RSM Leading audit, tax and consulting firm RSM has appointed Neil Griggs as an audit partner in its financial services team. Neil joins RSM from BDO, prior to which he worked at both Big Four and boutique firms. He has 20 years of financial dervices experience [...]
PM Johnson scrambles to save Brexit deal ahead of key Saturday vote October 17, 2019 The stage is set for a dramatic showdown in parliament this weekend, after a last-minute Brexit deal put the ball in Westminster’s court. Boris Johnson claimed a victory yesterday morning with “a great new deal that takes back control” agreed just minutes before he left London for the European Council in Brussels. The Prime Minister [...]
Boris inches closer to new Brexit deal October 17, 2019 A Brexit breakthrough was in touching distance last night, but critical issues remain unresolved both in Brussels and Westminster ahead of tonight’s European Council. Boris Johnson held his third meeting in three days with the Democratic Unionist Party (DUP) yesterday as he sought the support of the Conservative party’s informal partners. DUP leader Arlene Foster [...]