Economists’ Olympic predictions: No investment boost to the Brazilian economy and Team GB to come third August 1, 2016 Most people would think that hosting two of the largest sporting events in the world taking place just two years apart would provide a huge boost to the economy. But a report released by Goldman Sachs today indicates that investment spending in Brazil – which hosted the 2014 Fifa football World Cup and is preparing this summer to [...]
Olympic visitors urged to be extra vigilant in fight against credit card fraud August 1, 2016 Fraudsters in Brazil are poised to exploit the influx of international visitors for the Olympics a survey revealed today. With half a million visitors expected for the Olympics, research by ACI Worldwide indicated that 49 per cent of Brazilians have experienced some kind of credit or debit card fraud in the last five years, second globally [...]
Pension deficits reach a new high before interest rate decision August 1, 2016 The pension deficits of UK private companies reached the record level of £390bn at the end of July, having leapt by £80bn in the last two months alone. Public companies fared no better in the JLT Employee Benefits Index, as FTSE 350 companies’ defined benefit schemes deficits increased from £114bn in May to £156bn in July. “Markets may [...]
Nearly half of young people to use lifetime Isa to save for retirement August 1, 2016 Nearly half of younger Britons will use a the lifetime Isa to save for retirement instead of taking out a pension plan a survey outlined today. A YouGov poll said that 44 per cent of Britons between the age of 18 and 39 would favour using the government’s new lifetime Isa in order to put [...]
Small business M&A unaffected by Brexit fears August 1, 2016 Deal activity among SMEs flourished in the first half of 2016 and was higher than than the year before, despite Brexit fears. Private equity investors completed a total of 40 deals in British companies between the £10m and £100m mark in the first half of 2016, according to data released today by the Lyceum Capital [...]
Adidas results boosted by cancelled five-year contract with Chelsea July 28, 2016 Adidas increased its guidance for 2016 for the fourth time this year when releasing second-quarter preliminary results today. The Bavarian-based sports group reported earnings per share that had doubled – €1.45 per share compared to €0.73 during the same period in 2015. Revealing operating profit that was up 77 per cent to €414m (£348m), the company alluded to a key [...]
The iconic Empire Theatre in Leicester Square has just been sold to Cineworld July 28, 2016 The historic Empire Theatre in Leicester Square is set to be rebranded after the cinema was today sold to Cineworld. The deal sees Cineworld – the second largest cinema operator in Europe – also take on four other venues outside of London from Empire Cinemas. The Chiswick-based operator paid £94m to Empire through a combination of cash and shares as [...]
AIB pay back Irish Government nearly two billion euros during 2016 July 28, 2016 State-owned Allied Irish Banks (AIB) returned €1.8bn to the Irish government in the first half of 2016 it announced today. Revealing results for the first half of 2016, it said it had returned €6.5bn (£5.5bn) to the Irish taxpayer since being bailed-out by the state in 2010. Reflecting on pre-tax profits of €1bn for the first six months, chief executive Bernard Byrne [...]
