Galliford Try joins the Winters of discontent October 31, 2019 Standard Chartered, Lloyds Banking Group, Aviva and BT Group: even the Investment Association (IA) must have been surprised by the rich seam of targets it uncovered when it launched a campaign to curb the lavish pension perks enjoyed by the chief executives of listed companies. A quarter of FTSE 100 bosses have seen their pension [...]
Donald Trump slams Jeremy Corbyn and says Boris Johnson’s Brexit deal a block to US trade October 31, 2019 US President Donald Trump has waded into the UK General Election debate, saying Labour leader Jeremy Corbyn would be “so bad” for Britain. Yet Trump also warned Prime Minister Boris Johnson that “certain aspects of” his Brexit deal mean the US “can’t make a trade deal with the UK,” despite the Trump administration wanting to. [...]
Live: Donald Trump wades into General Election debate in Nigel Farage interview October 31, 2019 US President Donald Trump has waded into the UK General Election in typical style, saying Jeremy Corbyn would be “so bad” for Britain. Read more: General Election: Jeremy Corbyn pledges to go after ‘greedy bankers’ In an interview with Brexit party leader Nigel Farage on London’s LBC radio, the President said: “Your country has tremendous [...]
Fiat Chrysler and Peugeot owner PSA have agreed a merger which could reshape the car industry October 31, 2019 Fiat Chrysler (FCA) and Peugeot owner PSA have agreed to go after a merger which would create a €180bn (£155bn) revenue automotive industry titan. PSA and FCA said they had decided to “work towards” a deal which would give shareholders in each company 50 per cent ownership of the new firm, creating the fourth-largest car [...]
Friends again: The Co-op Bank and Capita have renewed a £141m contract after falling out in 2016 October 31, 2019 Capita has been tasked with running the Co-operative Bank’s mortgage servicing operations for the next six years, in a contract win which indicates the once-strained relationship between the two is back on course. The £141m deal comes after a public spat in September 2016, in which the Co-op Bank claimed the London-listed firm had failed [...]
FTSE 100 staggers as Lloyds and Shell profits tumble October 31, 2019 The FTSE 100 dropped sharply this morning as Lloyds and Shell weighed down London’s blue-chip index, which headed for its biggest fall since 2 October. The index fell roughly one per cent to 7,254 points, with the DAX and the CAC both down 0.7 per cent. Shell’s share price fell nearly 3.8 per cent to [...]
Crest Nicholson shares slump after profit warning October 31, 2019 Shares in Crest Nicholson slumped this morning after the FTSE 250 housebuilder issued another profit warning as new chief executive Peter Truscott outlined a strategic overhaul of the business. In a trading update this morning the developer said profit before tax, is expected to be between £120m to £130m for the year to 31 October, [...]
Carpetright mulls cut-price £15m takeover bid from largest shareholder October 31, 2019 Embattled retailer Carpetright is in last ditch rescue talks with its biggest investor. The flooring specialist is mulling a £15.2m offer from its largest shareholder, Meditor, amid fears that it will not be able to pay off its debt pile. Read more: Retail stockpiling soars on Brexit uncertainty The takeover offer of 5p a share [...]
Lloyds Banking Group profit slumps 97 per cent after £1.8bn PPI hit October 31, 2019 Lloyds Banking Group narrowly avoided tipping into the red this morning after taking a major third-quarter dent from the mis-selling of payment protection insurance (PPI). The lender’s pre-tax profits were reduced to £50m, falling 97 per cent from the same period last year after setting aside £1.8bn for PPI provisions. Read more: UK banking sector [...]
DEBATE: Is Labour set to outperform its 2017 result in this election? October 31, 2019 Is Labour set to outperform its 2017 result in this election? YES, says James Meadway, an economist and former adviser to John McDonnell A solid guide to forecasting British politics is to look at whatever the Westminster consensus thinks, and assume the opposite. The pundits got Jeremy Corbyn’s leadership victory wrong, they got the referendum [...]