Stephen Barclay urges Barnier to seek new mandate for Brexit talks to avoid no deal August 4, 2019 EU leaders must give their chief negotiator Michel Barnier a fresh mandate to change the withdrawal agreement if they do not want to end up with no deal, Brexit secretary Stephen Barclay has said. Barclay, who kept his position in Boris Johnson’s Cabinet overhaul, said MEPs in the European Parliament had changed since the European [...]
Lloyds Banking Group chief executive Antonio Horta-Osorio sells £3.5m of shares in the bank August 2, 2019 The chief executive of Lloyds Banking Group Antonio Horta-Osorio today sold £3.5m of shares in the bank, according to stock market filings. Horta-Osorio sold 6.75m shares at an aggregate price of 52p, the filing shows. The value of the shares sold exceeded £3.5m. Lloyds’ share price fell 2.8 per cent today to 51.3p. Following the [...]
Populism is back, and the Democratic candidates are veering left August 2, 2019 The Democratic primary is heating up – and some of the policy proposals are as red as fire. This week, 10 hopefuls took to the stage in Detroit, for the second debate leading up to the 2020 presidential election. And what we saw was an extreme ebbing and flowing of liberalism and socialism, raising serious [...]
Mandarin Oriental profit slumps despite Hyde Park hotel reopening August 1, 2019 The Mandarin Oriental hotel group reported a slump in profit today despite the reopening of its Hyde Park hotel, which was closed following a fire last year. The five-star hotel was badly damaged in the fire in June 2018 and was re-opened in April following a £100m renovation. Read more: Check out Mandarin Oriental’s refurbishment after [...]
Capita return to growth ‘distinctly possible’ as turnaround starts to do the trick August 1, 2019 Capita’s market value shot up today as investors toasted the first fruits of a sweeping turnaround plan. The outsourcer’s share price jumped 17 per cent on the news margins had grown in four of its six main business divisions. Capita runs the Ministry of Defence’s recruitment programme for the British army. The figures Pre-tax profit [...]
Insurance M&A jumps to highest level in four years in first half of 2019 August 1, 2019 Insurance M&A rose to its highest level in four years in the first half of 2019 with 222 deals completed worldwide. This marked the biggest increase in the volume of transactions since the first half of 2015 and the fourth consecutive six-month period of growth. In the second half of 2018 there were 196 completed [...]
ii view: Lloyds Bank friendless on results day August 1, 2019 by Keith Bowman from interactive investor. Lloyds continues to bear down on costs to offset tough market conditions, but shares have slumped. Half-year results to 30 June 2019 Net income down 2% to £8.82 billion Pre-tax profit down 7% to £2.89 billion Earnings per share down 7% to 2.7p Interim dividend up 5% to 1.12p per share Chief [...]
Insurer RSA hails ‘solid’ first-half as it tries to get underwriting back on track August 1, 2019 Insurer RSA said today it had improved its underwriting performance in the first half of 2019, as it looks to re-energise its business following a slump in 2018. Underwriting profit fell from £171m in the first half of 2018 to £153m in the first half of 2019. Read more: RSA Insurance shares drop as firm [...]
Barclays boosts first-half profit 82 per cent to £3bn August 1, 2019 Barclays today posted first-half profit before tax of £3bn, an 82 per cent increase on the same period last year. Total income fell one per cent to £10.8bn. Return on tangible equity was 9.4 per cent, down from 11.6 per cent in the first half of 2018. The bank said it was targeting return of [...]
Mark Carney on climate change: Capitalism is part of the solution July 31, 2019 Bank of England governor Mark Carney has swung to the defence of capitalism over its role in tackling climate change, saying that the financial system is “part of the solution” in dealing with current environmental challenges. The head of Britain’s central bank said last night that “capitalism is part of the solution and part of [...]