The UK’s largest supplier of energy is ticked off by the regulator for failing to keep customer appointments. The country’s largest supplier of energy to households and businesses was required by the industry regulator to agree customer payouts but not pay a fine as it flagged the failures to Ofgem itself, reports Sky News. Around […]
Category: News Wire
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Morgan Stanley picks Frankfurt as post-Brexit hub
Move by US investment bank to ensure it can keep trading across EU could put 200 jobs at risk in City of London US investment bank Morgan Stanley has chosen Frankfurt as the site of its post-Brexit EU hub in a move that could put 200 jobs in the City of London under threat, reports The Guardian. […]
Sports Direct profits plunge 59%
Sports Direct has reported a 58.7 per cent slump in underlying profits and announced the appointment of a permanent finance chief for the first time in four years. The Mike Ashley-run retailer recorded a dive in underlying profits from £275.2m to £113.7m in the year ending April 30. It blamed the fall for not having sufficient […]
Insurance giant Aviva sells Friends Provident for £340m to International Financial Group subsidiary
Insurance giant Aviva will sell its loss-making Friends Provident arm to International Financial Group for £340m, the firm announced this morning.
UK’s ‘readiness for change’ rating boosts Brexit hopes
Britain has been ranked 10th in global index of the nations most ready for political and economic change, easing concerns the UK will struggle to deal with financial uncertainty caused by Brexit, according to a major international study.
Fall in income inequality since recession
The IFS says the gap between the richest and poorest households has narrowed but regional disparity remains.
Credit & debit card surcharges to be banned
Consumers are no longer to be charged extra for paying by debit or credit card, the government has said.
Royal Mail receives election boost as international business drives revenues
Royal Mail’s first-quarter revenues were boosted by an increase in political mail during last month’s General Election and a strong performance in its overseas business, reports The Telegraph. In the three months to June 25, Royal Mail’s group revenues rose 1 per cent thanks primarily to a 5 per cent growth in volumes in GLS, […]
Tesla’s share price is too high, says Elon Musk, as James Murdoch & Linda Johnson Rice join board
Entrepreneur Elon Musk was forced to clarify comments that Tesla’s share price is too high which sent stock sliding by around three per cent.
Netflix says it now has 104 million subscribers worldwide
Netflix shares surged on Monday after the firm said it now had about 104 million subscribers, a larger-than-expected number that boosted revenues.
Citigroup chooses Frankfurt as new european trading hub
Citigroup has chosen Frankfurt as its newest trading hub in the European Union.
Young families ‘hit by income slowdown’
Young families were particularly hard hit by an “abrupt” slowdown in living standards in the year before the general election, a think tank says.
Gap between inflation and wage growth weighs on consumer confidence
Consumer confidence suffered its biggest decline in two years in the second quarter of 2017, as high inflation took its toll on spending power.
Trade deal ‘essential’ to protect UK car industry
Britain must rush to agree a trade deal similar to the one being hammered out between the EU and Japan or face having the UK’s £72bn-a-year car industry taken apart, a trade lawyer has warned.
Royal Mail offers staff new pension plan to avert strike
A union representing workers rejects the move, arguing “it would still represent a significant shortfall in the pensions promise”.