UK manufacturing PMI falls to 53.4 but shows relatively confident sector ahead of leaving EU December 1, 2016 Confidence in the UK’s manufacturing sector posted a surprise fall in November, as the weak pound exerted pressure on manufacturers buying materials from abroad. The manufacturing purchasing managers’ index (PMI) fell to 53.4, down 0.8 points since last month, although rates of expansion are still "solid", according to survey compiler IHS Markit. This was the second [...]
City Moves for 1 December 2016 | Who’s switching jobs December 1, 2016 NEON Neon has appointed Geoff Riddell as its new non-executive chairman. Geoff brings with him over three decades of experience in the international and London insurance markets. He is currently chairman of Pool Re, having joined its board in 2015. He previously held several senior managerial roles at Zurich, where he was chief executive and [...]
The chairman of the OBR doesn’t think Hammond’s Autumn Statement stimulus will be a big boost to productivity November 30, 2016 Chancellor Philip Hammond’s planned productivity spending spree won’t have a big effect on the UK’s economy, according to an influential economist. Robert Chote, the chairman of the Office for Budget Responsibility (OBR), has said Hammond’s plans to boost infrastructure spending did not not have an effect on forecasts. “This is not the near-term fiscal stimulus [...]
Greene King pubs report challenges are ahead despite revenue bubbling up to record levels November 30, 2016 Record revenue was reported in Greene King's interim results, but shares fell in morning trading and analysts warn of a hangover. The figures Adjusted profits before tax rose 14.6 per cent to £139m, and adjusted earnings per share were up 4.3 per cent to 36p for the pub company. Like-for-like sales increased 1.3 per cent, which was ahead of the [...]
EasyHotel reveals solid growth and a “pipeline” to increase brand presence November 29, 2016 EasyHotel shares increased over one per cent as the "super budget" hotel brand announced the weak pound has created a strong market for inexpensive tourism in the UK. The figures Total system sales have increased 6.8 per cent to £21.3m from £20.0m in 2015, according to EasyHotel's final results for the year ended 30 September Read more: All eyes [...]
Iceland Foods wants to thaw dispute after Iceland the country announces legal action against the supermarket November 29, 2016 Iceland the country got a bit frosty with Iceland the retailer last week. And now Iceland Foods is seeking to smooth over any grievances, saying it seeks "peaceful coexistence" with the country. In a statement, the company said: "Following the regrettable outbreak of legal and verbal hostilities last week, the UK retailer Iceland Foods is urgently seeking [...]
London will reinvent itself again post-Brexit if it remains flexible and open to the world November 29, 2016 "We don't plan London very much. Nobody planned to have the euro-dollar market, for example. It rose because clever people were very quick at responding to market signals.” Speaking at a debate at the Museum of London on the future of the capital, hosted by Eversheds, The Independent’s Hamish McRae set out the optimistic case for the [...]
Chancellor backs management consultants, as a quarter of industry gets ball rolling on Brexit plans November 29, 2016 Chancellor Philip Hammond has given his blessing to the country's management consultants, after a recent survey showed over a quarter were kicking off contingency plans for Brexit. In a letter from the chancellor to the Management Consultancies Association (MCA) and seen exclusively by City A.M., Hammond calls the industry a "vital part of the economy, [...]
Post Office workers are set to strike over pensions on the busiest day for international Christmas post November 28, 2016 About 720 managers will walk out of Post Offices over pension disputes on the busiest day for international post. The 24-hour strike, set for Saturday, 3 December, is the third instance of industrial action in a long-running pension dispute. The workers are members of Unite, the country's largest union, who join the Communication Workers Union (CWU) to target 300 [...]
Investors should give thanks for record highs – but prepare for Hard Trump November 28, 2016 Thanksgiving, a national holiday of reconciliation, took on greater significance in the US this year as families tried to put political differences aside and find common ground in their love of turkey, stuffing and pumpkin pie. President-elect Donald Trump attempted to mend the wounds of a divisive election campaign on the eve of Thanksgiving by [...]