Walgreens Boots Alliance posts a 15 per cent slide in net earnings, sending its share price lower despite beating expectations July 6, 2016 Walgreens Boots Alliance, the company that has controlled UK high street pharmacy chain Boots since 2014, has reported analyst estimate beating results but has failed to stop a share sell off. Shares were down by over three per cent in New York following the results announcement. For the third quarter the company reported earnings per share [...]
Taking stock: 12 charts showing the first three months of Brexit in the financial markets September 23, 2016 Three months ago today, the UK voted to leave the European Union. Against the judgement of most experts, our own Prime Minister, the President of the United States, think tanks and international institutions that were warning of economic calamity, the Brits decided to quit. The financial markets went into turmoil. The pound collapsed, the FTSE 100 [...]
Hold onto your hats: Banks in for a bumpy ride following the Brexit vote June 26, 2016 The banking sector is most likely bracing itself for a beating following last Friday's EU referendum result. The UK's decision to leave the EU places the passporting rules – which essentially allow UK banks to operate throughout the European Economic Area without restrictions – in doubt, which could ultimately result in fewer bankers on the streets [...]
HSBC expected to unveil thousands of job cuts June 1, 2015 HSBC is expected to unveil thousands more job cuts as the lender attempts to improve profitability. Chief executive Stuart Gulliver is thought to be planning to reveal plans to slash as many as 20,000 jobs at an investor presentation next week, Sky News reported. The scandal-hit bank has been under pressure from shareholders in recent months. [...]
These are the top 10 most valuable brands in the world May 11, 2016 Half of the top 10 most valuable brands in the world are technology ones, with tech titan Apple topping the list. The Cupertino-based iPhone maker may have suffered a dip in fortunes recently (compared to a decade-long streak of constant growth, at least), but it's still generating cash on the back of its reputation among consumers. [...]
JP Morgan’s chief executive Jamie Dimon has wasted no time in telling staff what will happen at the bank now the UK has voted for Brexit June 24, 2016 Jamie Dimon, chairman and chief executive of JP Morgan, is wasting no time in reassuring staff and investors that the bank isn't about to abandon its UK operations in a post-Brexit world. In a memo sent to staff this morning following the UK's unexpected vote to leave the European Union, Dimon said the US-based bank "will maintain a large presence in London, Bournemouth and [...]
Unions blame HSBC chiefs for UK job losses June 9, 2015 UNIONS promised to fight for HSBC staff after the giant bank announced 8,000 in the UK will lose their jobs. Around 100 branches in Britain will close, and the retail bank will get a new headquarters in Birmingham as the group implements the ring-fence which splits up retail and investment banking. “Unite are seeking to [...]
War bunkers, pizza and lots of caffeine – how the City is preparing for referendum night June 23, 2016 Brexit "war bunkers" are being opened, extra staff brought in and sleep-deprived workers plied with pizzas, sweets and coffee to keep them going throughout the night as the City beds in for expected high levels of pre- and post-referendum trading. Barclays, HSBC, Lloyds, Societe Generale, Deutsche Bank, Royal Bank of Scotland and JP Morgan will all have heightened [...]
Post Office apologises after major glitch shuts down counter services across the country May 9, 2016 A major technical glitch meant thousands of people were turned away at Post Office branches around the country today. Customers hoping to pay bills, post packages or collect benefits claimed the outage was affecting branches nationwide, with many saying they had tried a number of branches before giving up, but the group insisted it was only [...]
European business leaders sign letter in support of EU May 31, 2016 The leaders of some of Europe's biggest businesses have today issued a letter in support of the European Union, ahead of the upcoming UK referendum. All 51 members of the European Round Table of Industrials signed the letter, which said that an unravelling of the Single Market and the rules governing 28 countries "would reduce, [...]