Credit Suisse profit doubles amid rise in wealth management business October 30, 2019 Profits at Credit Suisse more than doubled during the last three months following a robust performance in its flagship wealth management arm. The Swiss lender reported net profits of SFr751m for the third quarter, jumping 108 per cent when compared with the same period in the previous year. Read more: Deutsche Bank posts losses amid [...]
What problems do savers face when transferring their pensions? October 30, 2019 If you want to transfer your pension to another company, you could find it quicker to fly to Mars. That’s not an exaggeration – in some instances, it can take six months for your provider to process your request, so it’s hardly surprising that some people simply don’t bother trying to move their money at [...]
HSBC profit sinks as bank says performance is ‘not acceptable’ October 28, 2019 HSBC has called parts of its performance “not acceptable” as it revealed an 18 per cent drop in third quarter profit today, fuelled by weak results in its European and US divisions. The figures Profit before tax dropped 18 per cent to $4.8bn (£3.8bn) in the three months to the end of September to fall [...]
AT&T strikes deal with activist investor as TV challenges hit revenue October 28, 2019 US telecoms giant AT&T has unveiled a three-year plan to revamp its strategy as it bowed to pressure from an activist investor amid tough conditions in its TV business. Elliott Management, which holds a $3.2bn (£2.5bn) stake in AT&T, has been pressuring the board to overhaul senior management, cut costs and scale back expansion plans. [...]
Spotify finance boss behind streaming giant’s direct listing steps down October 28, 2019 The Spotify finance director who masterminded the streaming giant’s unorthodox stock market float is stepping down from the company. Chief financial officer Barry McCarthy will retire in January and will be replaced by Paul Vogel, who is currently the firm’s head of investor relations. Read more: Spotify fails to hit the right note as subscriber [...]
Amazon share price slips after first profit drop in two years October 25, 2019 Investors have punished Amazon for a sharp fall in profits, targeting its shares as US markets opened this afternoon. Amazon’s share price fell 2.4 per cent to $1738.2 on the Nasdaq after billionaire Jeff Bezos’ company’s profits fell for the first time in two years yesterday. Read more: Amazon posts first profit drop for two [...]
Essex lorry deaths: Police make two new arrests as Vietnamese woman feared to be among victims October 25, 2019 Police have arrested two more people in connection with the deaths of 39 people found in a lorry container at an industrial park in Essex, it emerged today. A 38-year-old man and a 38-year-old woman from Warrington were arrested in Cheshire. Both have been detained on suspicion to traffic people and on suspicion of 39 [...]
WPP leads FTSE 100 risers with surprise return to growth October 25, 2019 WPP led the FTSE 100 risers today as its shares climbed after it posted a surprise return to growth in the third quarter. WPP’s share price rose above six per cent to 971.2p after revealing revenue climbed 5.2 per cent to £3.29bn. Read more: Sainsbury’s heir to the throne quits to join WPP Like-for-like sales [...]
Four things we learned from Barclays results October 25, 2019 Barclays delivered a mixed set of results for the third quarter today, with strong performance in its controversial investment bank outweighed by a massive £1.4bn PPI claims hit. These are the top four takeaways from Barclays results today. Barclays was not expecting PPI ‘avalanche’ Barclays otherwise strong third quarter results were torpedoed by a whopping [...]
Heathrow enjoys record passenger numbers amid rise of US and African traffic October 25, 2019 Heathrow has posted a record number of passengers travelling through its airport this year, as a boon in transatlantic flights helped offset a slowdown in short-haul journeys. The airport hub has said it is expecting its ninth consecutive year of growth after reporting a 0.7 per cent year-on-year rise in passenger numbers to 61m in [...]