Slump in deal making nearly halves Goldman Sachs profits July 18, 2022 A weaker deal making environment has nearly halved Wall Street investment bank Goldman Sachs’s profits. Net earnings dropped to $2.8bn (£2.4bn) in the three months to June, down 48 per cent from $5.3bn (£4.5bn) in the same period last year, Goldman said today. Investment banking revenues collapsed nearly 50 per cent to $1.8bn (£1.5bn) driven [...]
What a new world order might mean for the global economy July 18, 2022 Russia’s invasion of Ukraine has opened fault lines between nations which will affect trade relations and investment for years to come. The war in Ukraine is already having a significant effect on inflation and activity in the world economy as commodity prices have soared and supply chains have been disrupted. Inflation in the G7 was [...]
Dark clouds gather over the City as staggering 136 London-listed companies issue profit warnings July 18, 2022 As cost inflation bites and more and more Brits start thinking about their spending, a growing number of London-listed companies have issued a series of profit warnings this year. In fact, the number of firms which issued the warnings – always a headache for shareholders – jumped by 66 per cent in the first six [...]
More than 40,000 BT workers will strike at the end of the month July 18, 2022 BT workers will go on strike on the 29 July and 1 August, the Communication Worker Union (CWU) have confirmed. Announcing the news this afternoon, the union said action may cause “significant issues” for remote workers and would have a “serious effect” on the roll-out of ultra-fast broadband. CWU general secretary Dave Ward said in [...]
6 Companies Giving Employees A Free Week Off July 18, 2022 There’s no doubt there are great perks to working in the tech industry: above market rate salaries, excellent benefits and lots of fun extra-curricular stuff are just some of the ways Big Tech draws in the best talent. These tactics are rubbing off: in Tysons, Virginia, on the roof of one of Capital One’s banks [...]
Exclusive: Utilita Energy boss loses confidence in Ofgem after public warning July 18, 2022 Utilita Energy's no longer has confidence in Ofgem, after it criticised the supplier over its handling of direct debit payments.
The dizzying tax promises of the Tory campaigns aren’t enough for the City July 18, 2022 IT WAS more than four years ago now since the outgoing prime minister, Boris Johnson, remarked to the Belgian ambassador to the EU that his approach to the private sector was “f*** business”. For a leading Conservative politician with ambitions towards Downing Street, it was an extraordinary thing to say. Yet it was clearly an [...]
Soaring business costs trigger wave of profit warnings July 18, 2022 Swelling costs have crimped UK companies’ margins, leading to a surge in profit warnings, reveals a new report published today. The volume of profit warnings sounded by UK-listed companies climbed 66 per cent in the first half of this year compared to the same period in 2021, up to 136 from 82, according to EY-Parthenon. [...]
Rio Tinto warns of heavy $400m hit to earnings as Covid-19 hampers production July 16, 2022 Rio Tinto has warned COVID 19-related labour shortages and rising inflation would damage its earnings in the second half of 2022.
Exclusive: Starmer says UK can be better off outside EU than inside July 16, 2022 Labour leader Sir Keir Starmer has told City A.M. that the UK can have a better economic future outside the EU than inside if the government slashes post-Brexit red tape and diverges from Brussels’ regulations. Starmer, formerly a staunch Remainer and advocate of a second referendum, said this can only be done through greater “flexibility” [...]