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 [...]
Cold fusion: London turnaround group Melrose snaps up US aircon company for £2.2bn July 6, 2016 Shares in turnaround group Melrose shot up by more than 30 per cent on Wednesday after it announced the $2.8bn (£2.2bn) acquisition of a US heating and air conditioning company. Melrose said the $86-per-share offer represented a premium of around 37.6 per cent and the Nortek board intends to recommend the deal to shareholders. Read [...]
Slow lane for EU-Canada trade deal could hit Brexit negotiations July 6, 2016 The EU’s landmark free trade deal with Canada could be years away from coming into force, after it was agreed national parliaments across the continent will have to approve the treaty. Earlier this week the EU’s trade commissioner Cecilia Malmstrom said she had ceded to political pressure and decided all 28 members will have to take [...]
European Commission approves new cyber security initiative and funding July 5, 2016 The European Commission wants EU member states to work together on cyber security. The European Union's executive body has signed an agreement that'll have member states funding and working together with private groups to prevent cyber attacks. There have been repeated warnings over the vulnerability of both private and public institutions in recent months. And it seems we're [...]
Germany’s economy minister and junior coalition party wants to offer Brits German citizenship July 3, 2016 The German vice chancellor has called for UK citizens living in Germany to be given citizenship to protect their rights to live and work across the European Union. Sigmar Gabriel, a member of the junior coalition partners, the Social Democratic Party (SPD), told a conference in Berlin over the weekend: "Let's offer it to the [...]
Austria’s constitutional court orders a re-run of the presidential election after far-right challenge July 1, 2016 Austria's top court has thrown out the results of its presidential election and ordered the vote to be re-run, plunging the Eurpoean Union into a fresh crisis one week after the UK voted to breakaway. The ruling comes after the far-right Freedom Party, which was beaten in the final round the presidential election in May by just [...]
From Brexit to Trump, the elites have lost control over politics – and anything could happen now June 30, 2016 Dread in the pit of your stomach. A sinking suspicion that your world is in decline and prosperity may end and never return. Fear over your financial future. Last week’s Brexit vote seems to have left the City feeling exposed and unprotected. Many report feeling powerless against the historic forces that have been unleashed by [...]
South Africa posts record trade surplus after exports of precious metals and stones sky-rockets June 30, 2016 South Africa reported a whopping R18.7bn (£928m) trade surplus today, outdoing expectations. Exports rose 14 per cent to R104.7bn on a month-on-month basis, driven by a 49.1 per cent increase in precious metals and stones and a 10.4 per cent increase in mineral products exports. Imports were down 6.6 per cent to R86bn, the South African Revenue Service [...]
Singapore bank UOB suspends London property loans following Brexit vote June 30, 2016 Singaporean bank UOB has become the city state's first lender to suspend loans for London properties citing uncertainty caused by the result of last week's EU referendum. "We will temporarily stop receiving foreign property loan applications for London properties," a UOB spokeswoman said in an email. "As the aftermath of the UK referendum is still [...]
Nigel Farage says Britain could continue to contribute to EU budget – but will not compromise on freedom of movement June 30, 2016 Ukip leader Nigel Farage has said Britain will make compromises in order to access the Single Market but will not back down on immigration. Farage made the remarks in an interview with French newspaper Le Figaro following the last week's vote to leave the European Union. He said the UK could continue to contribute to the EU budget [...]