Outsourcer Interserve’s share price plummets on news it’s being investigated by the FCA over its handling of inside information May 11, 2018 Construction outsourcer Interserve, which suffered a torrid 2017 after issuing a string of profit warnings, today revealed its darkest days may not yet be behind it. The business announced it is being investigated by the Financial Conduct Authority (FCA), in connection with its handling of inside information and its market disclosures when it exited its [...]
City hits back at European Banking Authority over Brexit warning June 25, 2018 Senior figures from the City of London today hit back at the European Banking Authority (EBA) after the regulator warned that lenders are not prepared for Brexit. The EBA today said that financial firms in the UK who provide services to clients in the rest of the EU were not adequately prepared for withdrawal, and [...]
Carpetright (CPR) share price falls on news it will close 92 stores with 300 jobs to go as part of a CVA April 12, 2018 Carpetright shares sunk more than 16 per cent in morning trading after it announced the details of its planned company voluntary arrangement (CVA) to tackle its “legacy property issues”, and deliver a turnaround in fortunes. It has identified 92 sites of 205 underperforming ones for closure, with 113 being subject to a reduction in rental [...]
Services PMI: The UK’s services sector outperformed expectations last month, though disappointing new work inflows cast a cloud June 5, 2018 The UK economy may indeed be on track to rebound in the second quarter of this year, as a closely watched index today revealed that the services sector performed better than expected in May. The purchasing managers’ index (PMI) for the UK’s services sector, compiled by IHS Markit, rose from 52.8 points in April to [...]
New Crossrail 2 delays could jeopardise plans for the £31bn project’s route February 14, 2018 A £31bn plan to build a second Crossrail risks going off track as fresh delays threaten to hinder the intended route for the new railway, with concern over land and property costs around parts of it which aren't safeguarded. With funding and a hybrid bill which would give the green light to a revised Crossrail [...]
New Crossrail 2 delays could jeopardise the planned route for the £31bn project as key milestones are pushed back February 14, 2018 A £31bn plan to build a second Crossrail risks going off track as fresh delays threaten to hinder the intended route for the new railway, with concern over land and property costs around parts of it which aren’t safeguarded. With funding and a hybrid bill which would give the green light to a revised Crossrail [...]
Elizabeth Line latest: Crossrail reveals images of new London stations ahead of December launch March 22, 2018 Construction of the Elizabeth Line has now entered the final stages, with work underway to wrap up the stations and tunnels ahead of the December launch. Now new images by Crossrail Ltd show the progress made so far ahead of handing over the completed infrastructure to Transport for London (TfL) this summer. TfL will lead [...]
Credit Suisse profits surge as bosses hail cost-cutting drive April 25, 2018 Profits at Credit Suisse surged in the first quarter to deliver the Swiss bank’s strongest quarter in almost three years, beating analyst expectations. The figures Pre-tax income rose by 57 per cent year-on-year to hit SFr1.1bn (£800m), according to an update published today, while profits rose by 36 per cent adjusting for one-off charges – [...]
Poor weather puts a dampener on Bank of England rate hike as policymakers adopt ‘wait and see’ approach for economic growth May 10, 2018 The Bank of England has voted to keep interest rates steady once again at 0.5 per cent, shunting back a decision to hike rates after a slew of weak economic data. Though the Bank’s Monetary Policy Committee (MPC) said that the lower-than-expected economic growth in the first quarter was likely to be a temporary blip, [...]
Holiday Homes: Morocco is re-fashioning itself into a hotspot for the international polo crowd with houses to match September 7, 2018 In pride of place on the wall of the Jnan Amar Polo Club in Marrakech is a picture of Sir Richard Branson. Taken in 2014, it shows the grinning Virgin mogul at the first British Polo Day, held at these Moroccan grounds for the first time and contributing a tidy donation to the Eve Foundation, [...]