Global equity bloodbath plunges FTSE 100 to six-month low October 11, 2018 A GLOBAL equity bloodbath plunged the FTSE 100 to its lowest level in six months on a “gut-churning” day for investors. The sell-off began in the US on Wednesday before spreading to Europe, Asia, and trading floors across the world on Thursday. Global growth concerns, the prospect of higher US interest rates, as well as [...]
Investor demand for environment-friendly firms is becoming ‘phenomenon’ says top Barclays banker October 11, 2018 Demand for investments in businesses pursuing environmentally and socially responsible aims is building up unstoppable momentum, according to a top banker at Barclays. Joe McGrath, global head of banking at the British bank, says the growth of environmental, social, and governance (ESG) concerns in business has become a “phenomenon” in the last five years. ESG [...]
Rank fined £500,000 after visiting problem gambler overseas October 10, 2018 Online gambling firm Rank will pay £500,000 after failing a problem gambler by visiting him overseas when he had asked the company to leave him alone. The Gambling Commission found Rank had failed to recognise a customer showing “problematic behaviour”, broke credit rules and contacted him at his home during a self-exclusion period. Read more: [...]
Panmure Gordon grows profits after Bob Diamond-led takeover October 9, 2018 Venerable British stockbroker Panmure Gordon grew its profits in 2017 after being taken over last year by a consortium that included ex-Barclays boss Bob Diamond. Panmure Gordon’s parent company, Panmure Gordon Group, made profits after tax of £2.3m in 2017, more than double the £1.1m 2016 profits of the pre-takeover group. The firm made net [...]
Waste disposal firm stripped of NHS contract after body parts scandal October 9, 2018 A company which stockpiled hundreds of tonnes of hospital waste, including human body parts, has been stripped of its NHS contract. Healthcare Environmental Services (HES) is under investigation after allowing mountains of waste, including human body parts and hazardous materials, to pile up at its facilities. Leaked documents revealed excess waste levels at the firm's [...]
Mercedes sales drop in Europe as new emissions testing regime creates backlog October 8, 2018 European sales of Mercedes-Benz plummeted in September as the firm battled a vehicle testing backlog. Globally the company sold eight per cent less last month, with Europe especially badly hit, dropping by almost a tenth. Producers have been hit by a backlog caused by new European testing standards introduced on 1 September. Mercedes was particularly [...]
FTSE 100 drops to six-month low on weak oil stocks and uncertainty across Europe October 8, 2018 Weak oil stocks and economic uncertainty across Europe has dragged the FTSE 100 down more than 1 per cent to a six-month low. Britain's top index has fallen today, along with the German DAX despite the pound and euro dropping against the dollar. Read more: Unilever keeps UK headquarters: Investors react Royal Dutch Shell shares [...]
Five key takeaways from the FRC’s audit sector report October 8, 2018 The Financial Reporting Council (FRC), the audit sector’s watchdog, released its annual Developments in Audit report yesterday, outlining key challenges faced in the sector and assessing the current state of the profession. Audit is under close scrutiny at the moment, as politicians and regulators look closely at the dominance of the Big Four audit firms Deloitte, [...]
Citi to set up a new UK bank post-Brexit October 6, 2018 Citigroup is to transfer its UK consumer operations into a new UK bank, headquartered in London, in time for the country's exit from the European Union. A note sent out to customers revealed the move yesterday, in which the bank said its UK business, previously managed via Citibank Europe in Ireland, will be moved by March [...]
Opinion: Brokenshire’s £1bn plan to get SME developers to build more houses won’t work if the economy is unstable October 5, 2018 While it may seem as if all of our politicians are spending most of their time fretting over Brexit, James Brokenshire, the latest secretary of state for housing, communities and local government, recently announced an initiative to encourage more small and medium-sized (SME) developers into the market. The Government will be partnering with Barclays to [...]