Brexit anxiety has brought the UK economy to a near standstill, as the latest snapshot of the services sector, published by IHS Markit, shows that the level of optimism among UK businesses has fallen to its lowest since the financial crisis. ... Read More
The CEOs of the biggest companies in the UK are under scrutiny over their pay deals, as new figures showed that the top executives earned more during the first three working days of 2019 than the average worker will make all year. ... Read More
A combination of oversupply and faltering growth could be set to hamper oil prices in 2019, as analysts predict that oil is likely to fall below $70 a barrel once more. Surplus production from the United States, and poor economic growth, could undermine OPEC’s efforts to bolster the markets. ... Read More
The vulture fund Hilco which owns HMV took out almost £50 million in fees during its five year period of ownership of the company, while HMV itself paid zero corporation tax. ... Read More
Around 2,200 jobs are at risk as KPMG has been appointed the administrator of the high street music store HMV. The retailer has announced that it will be entering administration for the second time in five years. ... Read More
British shoppers are expected to spend £13 billion in the last few days of 2018, spending close to £9 million per minute during Boxing Day, although overall footfall has fallen. ... Read More
HMV, the last surviving music specialist on the high streets of the UK, is on the verge of collapsing into administration, and there could be 2,200 jobs at risk. ... Read More
Uber, the gig-economy based taxi company, has been hit with a significant blow in the UK, as the courts ruled that drivers are employees and that they qualify for minimum wage and holiday pay. The judgement was made in a previous tribunal, and Uber had appealed, but senior judges at the London Court of Appeal ruled that driers are workers. ... Read More
Business investment has declined for the third straight quarter in a row, marking the worst run in a decade. ... Read More
Barclays is faced with a $15 million fine from the New York regulator, over attempts by the Chief Executive and senior management to unmask a whistleblower. The State Department of Financial Services in New York has investigated the bank and found that there were shortcomings in the bank’s governance, corporate culture and controls that related to whistleblowing. ... Read More
As Theresa May addresses the House of Commons to plead for MPs to come together and work on a Brexit deal that will honor the referendum, it’s natural for investors to be concerned about the future of the UK economy. ... Read More
After a rocky week the FTS 100 is back on firm ground, having gained 58 points on Monday, while US stocks also crept higher at the start of the trading session. ... Read More
Analysts at Morgan Stanley have cut their price targets for RBS and Barclays amid Brexit uncertainty. The Bank of England is due to release its annual report today, and analysts expect that it will raise interest rates by 50bps next year, and then by another 75bps over the course of 2020. ... Read More
A poll published by Reuters is predicting that the FTSE 100 will see muted gains next year, thanks I part to uncertainty surrounding Brexit. The fund managers, analysts and brokers that participated in the poll collectively predicted that while the FTSE 100 will regain some of its losses over the next year, gains will be muted compared to previous expectations. ... Read More
All eyes were on Royal Mail on Friday, as investors tried to predict whether the company would be demoted in the coming FTSE 100 reshuffle. The markets will be reshuffled based on the respective market caps of each company as of the close of trading on Tuesday. ... Read More
Shares in the train and bus operator Stagecoach have increased after the news broke that the company is considering selling off its struggling North American companies, including its ownership of the budget coach company Megabus. ... Read More
Insurance company Hiscox is set to join the FTSE 100 on December 24. The company will be moving up to the top flight alongside Sarco Engineering, and the pair will be replacing Just Eat and Royal Mail, who are being demoted to the FTSE 250. ... Read More
The FTSE 100 ended the day lower on Monday, as the Brexit chaos raged on. In the US, Wall Street shares were also struggling, as there was little good news to spur a recovery. ... Read More
Ad giant WPP is planning to cut 3,500 existing jobs as part of a ‘radical evolution’ of the company. There are plans to create 1,000 new roles, but this will still mean that there will be thousands of workers left unemployed. ... Read More
The FTSE 100 ended trading yesterday on a down note, and the FTSE 250 also ended weak, as the EU confirmed that quantitative easing would come to an end in January. ... Read More
Shares in Melrose Industries have fallen by 5.47 percent, making the company the poorest performer in the FTSE 100 today. The conglomerate is reconsidering its plans to sell a division of GKN, after they received lower than expected bids for the company. ... Read More
Analysts are now wary of Just Eat’s prospects as rumors have surfaced about the potential for a tie up between Uber and Deliveroo. Peel Hunt, a firm which has been a strong believer in the potential of Just Eat over the last five years, believes that the potential merger could eventually lead to the demise of the company. ... Read More
Merger talks between Moore Stephens and BDO could put pressure on other major accounting firms. The plans would be a part of an attempt to create a fifth company capable of offering advice to FTSE 100 firms, and it would create a business that is bigger than Grant Thornton. ... Read More
Online delivery company Just Eat was one of the top performers in the FTSE 100 today. Its share price increased by almost four percent, putting it at the top of the performance list, ahead of online gambling company GVC holdings. ... Read More
Shares in Deutsche Bank hit a record low and the German DAX plumetted on Tuesday. Deutsche Bank admitted that it had been processing payments for Danske Bank in Estonia. ... Read More