Fiat Chrysler defies global car industry woes, beating analyst forecasts July 31, 2019 Car manufacturing giant Fiat Chrysler surprised markets today by sticking to its full-year profit forecast after strong sales in its US pickup truck division helped defy an industry slowdown. The earnings were the car maker’s first since it failed to merge with Renault in June. Read more: Car industry investment grinds to a halt as [...]
Why it’s too risky for Mark Carney to move interest rates for Brexit July 31, 2019 The Bank of England risks upsetting the economy if it changes interest rates before there is more clarity about Brexit, some of the City’s top economists have warned. Ahead of the Bank’s key meeting tomorrow, City A.M.’s shadow monetary policy committee (MPC) has said worries over slowing economic growth are outweighed by growing concerns that [...]
Airbus warns Europe to gear up for a no-deal Brexit July 31, 2019 Airbus has called on European governments to hasten their planning for a no-deal Brexit and bury the hatchet on a long-running subsidy spat with the US. Europe’s biggest plane maker issued a warning this morning about rising trade tensions, overshadowing a strong set of second-quarter profits which pushed Airbus’s share price up 0.4 per cent. [...]
Ryanair boss Michael O’Leary warns of job losses over Brexit and Boeing woes July 31, 2019 Ryanair boss Michael O’Leary has warned staff that hundreds of jobs could be lost as the airline reels from a decline in earnings and the grounding of the Boeing 737 Max aircraft. In a video sent to workers and seen by Bloomberg, the airline chief executive told staff that Ryanair needs 900 fewer pilots and [...]
Emily Thornberry: Labour would be ‘off our rockers’ not to campaign for Remain July 31, 2019 Emily Thornberry has said Labour would be “off our rockers” not to campaign to remain in the EU regardless of whatever Brexit deal was negotiated. The shadow foreign secretary said any Brexit deal – whether it was one negotiated by the Tories or Labour – should be put before a public vote, and that Labour [...]
Irish central bank: No-deal Brexit would see growth plummet July 31, 2019 The Central Bank of Ireland has warned that a no-deal Brexit could shatter the country’s economic growth and cost its economy 34,000 jobs. Read more: Boris Johnson visits Northern Ireland for talks to resolve power-sharing agreement In its quarterly bulletin the Bank said growth in a no-deal scenario would be just 0.7 per cent in [...]
Listed law firm DWF riding high on Brexit-related litigation July 31, 2019 Law firm DWF said its maiden results to the stock market were improved by an increase in litigation caused by Brexit-related economic uncertainty. In its first full-year results since it became the UK’s largest listed law firm via a March float, the firm said revenue had increased 15 per cent £272m. Profit before tax fell [...]
In a spin: Aston Martin suffers £78m first half loss as shares hit record low July 31, 2019 Aston Martin shares plumbed new depths this morning as the firm reported a first half loss of £78.8m, blaming a slowing global market and tumbling UK and European sales. Read more: Ex-Audi chief Rupert Stadler faces criminal charges for his role in dieselgate scandal The troubled car maker is still reeling from a profit warning [...]
UK leads EU venture capital, but Brexit could threaten its dominance July 31, 2019 The UK is continuing to dominate European venture capital (VC) deals thanks to a rise in mega rounds but uncertainty over the movement of talent post-Brexit could hit the sector hard, a new report has cautioned. UK VCs totalled 63 per cent of Europe-wide deals during the first half of the year, driven by a [...]
Growth falters as UK house prices stuck in ‘Brexit limbo’ July 31, 2019 UK house prices’ rate of growth slipped in July, falling to a “modest” 0.3 per cent annual rise to stay below one per cent for the eighth month in a row, according to Nationwide’s latest data. However, the 0.3 per cent month-on-month growth outstripped June’s 0.1 per cent to leave the average UK home worth [...]