Even Russia’s central bank is ‘surprised’ as country’s lenders post record profits January 31, 2024 Russian banks posted record profits in 2023 in news that surprised even the country’s own central bank, showing how the state is weathering Western sanctions over the war in Ukraine.
Central London Alliance calls on Treasury to reinstate tax-free shopping and generate an estimated £10 billion January 31, 2024 Ahead of the budget announcement on 6 March 2024, Central London Alliance (CLA) has submitted a proposal calling for the Treasury to reinstate tax-free shopping in efforts to help the retail sector recover from post-pandemic challenges. CLA backs requests by the retailers to reintroduce the scheme allowing foreign visitors to the UK to shop tax-free. [...]
Samsung profits tumble 34 per cent after chip business hits rock bottom January 31, 2024 Samsung has reported a 34 per cent drop in operating profits in its four quarter and new lows for its chip business.
GSK split seems to be paying off as vaccines drive upgraded profit guidance January 31, 2024 "We are now planning for at least 12 major launches from 2025, with new Vaccines and Specialty Medicines for infectious diseases, HIV, respiratory and oncology," Emma Walmsley, chief executive at GSK said.
Shell hopes to reassure shareholders of green gains amid expected profit hit January 31, 2024 Of the two UK oil majors, Shell has been the quieter of late. Market discussions in recent weeks have largely revolved around BP’s former finance boss-turned chief executive Murray Auchincloss. Specifically, what his tenure could mean for a company that seems stuck between a rock and a hard place balancing shareholder returns with a demanding [...]
Business confidence bounces back in January to two-year high January 31, 2024 Business confidence has reached its highest level since February 2022, as firms bet that falling inflation and interest rate cuts will boost the economy. Overall confidence rose in the Lloyds Business Barometer, which measures businesses’ confidence by assessing their trading prospects and optimism in the economy, rose to 44 per cent in January, up nine [...]
Moving markets: Five things shaping the FTSE 100 today January 31, 2024 Asia markets mirror Wall Street's decline; most AI stocks, including Microsoft, Alphabet, and AMD, tumble; China's January factory activity contracts; attention shifts to Fed and BOE policy meetings.
Rachel Reeves and Sadiq Khan tell City A.M. readers: ‘When you succeed, we all succeed’ January 31, 2024 Rachel Reeves and Sadiq Khan tell City A.M. that Labour will put the full weight of government behind the City and financial services
Labour: We’ll ‘unashamedly champion’ financial services as party plots rulebook reform January 31, 2024 Labour have promised to reform the City's rulebook to give financial services the support it needs to be competitive on the global stage
UK insolvencies skyrocket to 30-year high in ‘striking’ reminder of ‘onerous’ environment January 30, 2024 The number of company insolvencies has soared to its highest level since 1993, as voluntary liquidations reached the most since records began in 1960. The Office for National Statistics revealed today that throughout 2023, there were over 25,000 company insolvencies, with every category of insolvency rising compared to the year before. Mark Ford, partner in [...]