Losses mount at US department store Sears as it takes another cash injection August 25, 2016 US department store Sears has posted another loss for its latest quarter, setting it on the way to its seventh consecutive year in the red. To make matters worse Sears has had to again dip into its chief executive’s hedge fund for a cash injection, helping itself to $300m (£227.4m) in debt financing from ESL Investments. Adding to the [...]
May under pressure to ditch target as net migration still above 300,000 August 25, 2016 Theresa May has come under fresh pressure to scrap her target to cut migration as the latest figures showed net migration is still running at more than three times the government's official "tens of thousands" target In the year to March 2016, net migration – the difference between the number of arrivals and departures – came in at 327,000 [...]
Just received your GCSE results? No need to get A-Levels – get into the City with these apprenticeships at Lloyds, HSBC, PwC – and a new government department August 25, 2016 Those opening their GCSE results today will, for the most part, be planning to do A-Levels next year – particularly if they have ambitions in the City. But what if you could work for one of the UK's largest finance sector organisations without suffering through another two years of academia? We've rounded up the City's [...]
Google, Facebook and Twitter blasted over failure to tackle online extremism August 25, 2016 The world's biggest tech companies have been blasted by MPs for failing to do enough to tackle extremism which appears in videos and messages posted online. Google, Facebook and Twitter have have been accused of "consciously failing" to tackle the incitement of extremism, despite multi-million pound profits, by a group of MPs on the home affairs select [...]
Is Labour’s Owen Smith right that there should be another referendum on the Brexit deal? August 25, 2016 Chris Rumfitt, founder and chief executive of Field Consulting, says Yes. “Brexit means Brexit” declared our new Prime Minister Theresa May upon taking office. The only problem with that statement is that at no point during the referendum campaign did that word Brexit get defined. Single Market membership? European Economic Area membership? Basic World Trade Organisation [...]
The US is not happy about the EU’s crackdown on tech giants’ tax arrangements August 24, 2016 Top officials in the US have raised concerns over Europe's probes into the tax arrangements of companies such as Apple, an investigation of which is due to be wrapped up imminently and could result in a multi-billion pound bill for the tech company. The US Treasury argues it will create an "unfortunate" precedent in international tax policies and leave taxpayers [...]
Financial markets rattled by Bank’s Brexit Bazooka August 23, 2016 The Bank of England's latest bond-buying spree has rattled financial markets by stoking fears that the massive £70bn post-referendum rescue package could be overshooting its mark. Threadneedle Street was forced to pay a premium on £1.17bn worth of government debt because of low market supply yesterday. This caused the going rate for UK bonds to [...]
Best Buy’s share price has jumped ahead of the opening bell August 23, 2016 Shares in the largest US consumer electronics retailer Best Buy have leapt ahead of the opening bell in New York after posting a rare rise in sales. An hour ahead of the open the company's shares were 16 per cent higher at $38.18 in pre-market trading. The boost to shares came from an up-tick in forecasts for the third [...]
Edinburgh should stay the top UK location for commercial property investment outside London post-Brexit August 23, 2016 It’s fair to say we live in interesting times post-Brexit. The only tangible outcome of the United Kingdom’s EU referendum on 23 June has been uncertainty so far. But while many across corporate Britain wait for greater clarity, property deals continue to be made – with investors showing a clear preference for traditionally strong, robust [...]
UK jobs rebuffed Brexit woes in July, finds Robert Walters August 22, 2016 The UK jobs market warmed up throughout July, as employers got back into action following the Brexit vote, research from one specialist recruitment consultancy has found. Figures from Robert Walters, seen exclusively by City A.M., found the number of vacancies advertised across the UK jumped by 21 per cent in July compared with June. Employers were keen [...]