Morrisons keeps income investors happy March 18, 2019 By Graeme Evans from interactive investor. After flagging another special dividend with annual results, there are opportunities for this grocer. In an eventful and turbulent period for the grocery sector, Morrisons (LSE:MRW) continues to hold its own after unveiling further robust profits growth and another special divi for investors. Today’s full-year results, despite drifting back [...]
Editor’s Notes: The future of capitalism deserves more debate than a few viral tweets March 15, 2019 The desk in my office is groaning under the weight of books. They’re stacked up around the computer screens and at risk of blocking out natural light. I suppose it’s an appropriate look for an editor, though the scene has not been constructed deliberately. Indeed, none of these books have been read. They are unsolicited, [...]
City Moves for 15 March 2019 – Who’s switching jobs at WBD, Deezer and BBC? March 14, 2019 Today's City Moves includes Womble Bond Dickinson, Deezer and the BBC. Womble Bond Dickinson Transatlantic law firm Womble Bond Dickinson (WBD) has appointed Audrey Koh as a partner in the firm’s London office. Specialising in white collar crime, Audrey will strengthen the firm’s key sectors of expertise, in particular financial institutions, energy and natural resources, [...]
Financial Conduct Authority proposes investment platform exit fee ban March 14, 2019 The City watchdog has proposed banning exit fees on investment platforms as part of a package to improve the switching process for consumers. The Financial Conduct Authority (FCA) also mooted a rule that would allow customers to switch platforms and remain in the same fund without having to sell their investments in a bid to [...]
Spring Statement: Hammond warns against no deal as UK slashes 2019 growth forecast March 13, 2019 The UK chancellor Philip Hammond slashed the 2019 growth forecast in his Spring Statement and said future spending and economic wellbeing are dependent on an orderly Brexit. Hammond announced that the Office for Budget Responsibility (OBR) had cut the country’s 2019 growth forecast to 1.2 per cent, down from the 1.6 per cent predicted in [...]
Hammond calls for competition probe into digital advertising market March 13, 2019 The government will call on the competition regulator to launch an inquiry into the digital advertising sector amid concerns about the dominance of tech giants. Presenting his Spring Statement this afternoon, Chancellor Philip Hammond said he will ask the Competition and Markets Authority (CMA) to review the market and ensure Google and Facebook “pay their [...]
Balfour Beatty: UK’s largest construction firm returns margins to ‘industry standard’ March 13, 2019 Balfour Beatty’s turnaround plan has returned the once troubled construction firm to “industry standard” margins, according to chief executive Leo Quinn. The biggest constructor in the UK reported an increase in profits and an order book growing more than a tenth year-on-year in its 2018 results, prompting shares to rise 1.2 per cent in morning trading. [...]
Consumers hurt by lack of tech giant regulation, independent review finds March 13, 2019 Tech giants do not face enough competition and new laws are required to increase consumer choice in the digital sector, an independent review has found. The report, which was commissioned by chancellor Philip Hammond, states tech firms have become increasingly dominant in the market, limiting the control consumers have over their personal data. Read more: [...]
Financial Reporting Council to be scrapped in shake-up of audit sector March 11, 2019 The Financial Reporting Council (FRC) will be scrapped and replaced with a new beefed-up watchdog following a review into the audit sector by Sir John Kingman, the government announced today. The new regulator will have stronger statutory powers, including the ability to make direct changes to accounts and powers to require rapid explanations from companies [...]
River and Mercantile ‘focused on conduct’ following City watchdog investigation March 11, 2019 River and Mercantile has said it will focus on conduct as it moves to reassure investors in the wake of an investigation by the City watchdog. The Financial Conduct Authority fined the asset management firm £109,000 last month after it was found to have broken competition law, and former portfolio manager Philip Rodrigs was sacked [...]