Banning diesel cars is the wrong way to tackle pollution in London August 12, 2016 Everyone reading today’s copy of City A.M. wants clean air. But reducing pollution in our great city is a complex problem deserving of careful consideration and the adoption of a range of solutions. There is no magic bullet. Reducing emissions from all sources – whether planes, trains, cars or buses, or the polluting systems that [...]
This might be the reason HSBC’s shares are up despite profits going down August 3, 2016 HSBC did not perform particularly well financially during the first half of 2016, revealing this morning that pre-tax profits dropped 29 per cent. The picture was even bleaker on a quarterly basis, where profits plunged 45 per cent, failing to meet analysts' already glib expectations of a 40 per cent drop. However, there was some [...]
Here’s why Barclays’ share price is up while its profits are down July 29, 2016 Barclays' share price right now is a little bit confusing. Despite reporting a 21 per cent slump in its pre-tax profits for the first half of 2016, the banking giant's shares are up 6.9 per cent – outpacing the rest of the FTSE 100 by a long shot. Digging deeper into the figure, it's easy [...]
Nearly 40 per cent of non-doms are considering leaving UK, according to top accountancy firm July 25, 2016 Nearly 40 per cent of non-doms are thinking of permanently leaving the UK, according to a top accountancy firm. Top ten accountancy firm Moore Stephens has found that 37 per cent of non-doms are considering leaving, with 64 per cent citing changes to their tax status as a reason for considering such a move. Moore [...]
Get the corkscrew: Now is the time to flex your alternative investment muscle and buy up fine wine July 22, 2016 It's hard to believe it's only been a month since the EU referendum. Around £2 trillion was wiped off the value of global markets within a fortnight, the pound has fallen to its lowest point in three decades and British politics has descended into a virtual musical chairs, transforming in the process. The investors who [...]
Estate agents, housebuilders and other property shares slide on downbeat house price forecasts July 22, 2016 Property companies were the FTSE's biggest fallers this morning, after a raft of downbeat forecasts surrounding the UK's housing market. Countrywide, the UK's largest estate agent, was one the biggest faller on the FTSE 250 in early trading, with its shares falling 7.2 per cent to 233.7p. However, property portal Zoopla and Crest Nicholson were also both [...]
Leaving the Single Market would blow a £14bn hole in the public finances July 21, 2016 Before the referendum, George Osborne claimed a Brexit vote would require an emergency Budget of tax hikes and big spending cuts. While the new chancellor has said that he will wait until the Autumn Statement before he makes any changes to fiscal policy, it is unclear what he will choose to do. But what is [...]
Britain hasn’t lost Arm: Its acquisition is the start of a new Great British tech story July 19, 2016 A week ago, many were wondering whether the UK’s tech sector would become less relevant in a post-Brexit world. The news of Arm’s acquisition by SoftBank for £24bn means many things for UK tech – but irrelevance is not one of them. This acquisition is positive and timely news. Following the referendum, it’s an immediate vote [...]
How six City analysts reacted to Arm’s acquisition by Softbank July 18, 2016 Another ripe fruit was plucked from the tree of UK plc today, after Japanese lender Softbank announced it was acquiring Arm Holdings, the rockstar chip designer. Not surprisingly, shares in the company, whose clients include Apple and Samsung, shot up more than 40 per cent on the announcement of the news. But how did the City [...]
Labour will need more than a change of leader July 18, 2016 Attention politics junkies: do you feel robbed of a drawn-out party leadership election? Before Andrea Leadsom dropped out of the Tory race we were all set for a nine-week campaign. And then before it had even started, there was just one candidate remaining. If you’re wondering what political news to feast on this summer instead [...]