Brexit three years on: markets and the economy in six charts June 24, 2019 On 23 June 2016, the UK public voted on whether or not to stay in the European Union (EU). Many expected the UK to remain in the EU, but by a majority of 52% to 48% the Leave campaign won. The UK was scheduled to leave the EU at 23:00 UK time on 29 March [...]
The UK’s top law firms are relying on foreign exchange movements to boost their growth figures, according to PwC data November 13, 2017 The UK’s largest global law firms have generated significant amounts of growth in 2017 not through innovation or new business, but through foreign exchange movements, according to a PwC survey. Currency movements resulting from a weaker sterling caused a 4.9 per cent growth in fee income for the UK’s global top 10 firms, PwC’s 2017 [...]
Meggitt’s chief executive Stephen Young is set to retire in 2018 as revenue growth flatlines November 14, 2017 The chief executive of aerospace and defence firm Meggitt will retire at the end of April 2018 amid a slower ramp up of the firm’s new civil programmes. Stephen Young will leave after five years in the role and will be succeeded by current chief operating officer Tony Wood on 1 January. In a trading [...]
Guinness brewer Diageo warns currency volatility will hit profits September 20, 2018 British brewer Diageo today warned that volatility in the currency market is set to damage sales and profits. Sales will be reduced by £175m this year, the firm behind Guinness, Gordon’s Gin and Baileys said. Meanwhile operating profits will drop by £45m. It issued the warning ahead of its annual general meeting (AGM) later today, [...]
Guinness brewer Diageo warns currency volatility will hit profits September 20, 2018 British brewer Diageo today warned that volatility in the currency market is set to damage sales and profits. Sales will be reduced by £175m this year, the firm behind Guinness, Gordon’s Gin and Baileys said. Meanwhile operating profits will drop by £45m. It issued the warning ahead of its annual general meeting (AGM) later today, [...]
More than £540m wiped off value of cyber security firm Sophos after forecasts cut November 7, 2018 More than £540m has been wiped off the value of cyber security firm Sophos after it cut forecasts for the second half of the financial year. The company said “challenging year-on-year” comparatives meant it now expected only a modest improvement in billings growth through to March 2019. It had previously hoped for “mid-teens” billings growth [...]
‘End of austerity’ fails to lift sterling out of Brexit slump as Hammond sets aside £2bn for hard Brexit October 29, 2018 Philip Hammond’s Budget announcements failed to lift sterling, which continued to slide this afternoon as the chancellor announced the government’s spending plans to the House of Commons. With the Office for Budget Responsibility (OBR) lifting its growth forecast from 1.3 per cent to 1.6 per cent for 2019, and predicting a lower deficit of just [...]
Tips for travellers when shopping for a currency card August 23, 2018 Travellers cheques. Remember them? Cue confused expressions from anyone under 25. You may be surprised to hear that some banks still offer these cheques, which can be exchanged when you go abroad for hard currency (though you’re limited to just six of the major currencies). Fortunately, this outdated mode of currency exchange has now been [...]
Russia hits out at ‘unacceptable’ US sanctions and warns of retaliation August 9, 2018 Russia is planning retaliatory measures against sanctions imposed by the US over the poisoning of former spy Sergei Skripal, which caused the rouble to fall to its lowest level since November 2016 today. Foreign ministry spokeswoman Maria Zakharova said today that Moscow was starting to work on measures following Washington’s decision to impose sanctions, which [...]
Russia plans retaliatory measures against ‘categorically unacceptable’ Novichok sanctions as rouble tumbles | City A.M. August 9, 2018 Russia is planning retaliatory measures against sanctions imposed by the US over the poisoning of former spy Sergei Skripal, which caused the rouble to fall to its lowest level since November 2016 this morning. Foreign ministry spokeswoman Maria Zakharova said this afternoon that Moscow was starting to work on measures following Washington’s decision to impose [...]