Business leaders sign letter pledging to create a more “vibrant economy” October 10, 2016 Business leaders have published a letter pledging to create a more vibrant economy in which growth is more sustainable and widely-shared. "Our new Prime Minister has signalled her intent to tackle these challenges and make the UK a country that works for everyone. But this is a challenge that government cannot take on alone," according [...]
Dyson sales soar to £1.7bn as Asia Pacific growth booms October 9, 2016 Strong growth in the Asia-Pacific region helped propel manufacturer Dyson's sales last year. The company's sales rose 26 per cent to £1.7bn in 2015 partly due to demand for its purifiers and humidifiers in Asia. The company's profits also rose 19 per cent to £448m. Asia Pacific grew 70 per cent during this period, while Europe swelled 38 [...]
Randgold reassures investors after Mali shuts its offices amid tax dispute October 9, 2016 London-listed gold miner Randgold Resources sought to reassure investors after the Malian government closed its offices amid a long-running taxi dispute. Randgold said today that the operations of its three mines there would not be affected by the government's actions. This includes its Loulo underground mines, Yalea and Gara, as well as the Gounkoto open pit mine. "We [...]
Goldman Sachs to shift 2,000 jobs out of London if goverment pursues “hard Brexit” October 9, 2016 A so-called "hard" separation of the UK from the European Union would prompt Goldman Sachs to shift 2,000 highly paid staff out of London. The loss of Britain's prized preferential access to the single market would lead the Wall Street stalwart to move one in three of its employees to rival financial hubs across Europe, The [...]
BHS.com’s average order value jumps in its first week of trading October 9, 2016 Customers of BHS.com spent more on their individual orders in its first week of trading, a sign that the recently relaunched online retailer's strategy is paying off. BHS.com said that the average order value rose to £65 between the 29th September and 5th October, up from £50 on its old website before the company stopped trading. Read more: [...]
Iraq says it wants to increase oil output despite Opec cut deal October 9, 2016 Iraq has signalled that it wants to increase oil output as the Organisation of Petroleum Exporting Countries (Opec) tries to agree the details of its first production cut agreement since the 2008 financial crisis. It comes as Opec prepares for an unusual string of meetings to hammer out the terms of a production cut ahead of its next [...]
China hits out at “unfair” EU tariffs on Chinese steel imports October 9, 2016 China slammed the "unfair" investigation methods used by the European Union to impose further tariffs on two types of Chinese steel exports. "Reckless trade protectionism and mistaken methods that limit fair market competition are not the proper ways to develop the European Union steel industry," China's commerce ministry said in a statement posted on its [...]
Jeremy Corbyn announces more appointments amid Labour party frontbench reshuffle October 6, 2016 Jeremy Corbyn announced a string of appointments today amid a reshuffle of his Labour party's frontbench. The opposition leader is trying to strengthen his grip on the party after winning last month's Labour leadership contest by a large majority. Read more: Jeremy Corbyn has named a new shadow City minister, recruiting an MP who previously resigned [...]
Snapchat is marching towards a $25bn March IPO October 6, 2016 Photo-messaging app Snapchat is reportedly working towards an initial public offering (IPO) as early as late March which would value the firm at (£19.8bn) $25bn or more. The figure would be significantly higher than Snapchat's most recent valuation of $17.81bn, which was based on a $1.81bn financing round in May, the WSJ reported. It would also mark the biggest [...]
Hammond to decide on more QE “carefully and cautiously” October 6, 2016 Chancellor Philip Hammond said today that future decisions over whether the government will approve another round of quantitative easing (QE) to bolster the economy would be taken "carefully and cautiously". His comments came a day after Prime Minister Theresa May acknowledged super-low interest rates and quantitative easing have "some bad side effects". Speaking during a television [...]
