Royal Bank of Scotland swung to a third-quarter loss on Friday, hit by costs related to past misconduct and restructuring, casting fresh doubts on when the government might begin to recoup more of its 2008 emergency investment. The...
Read morePoliticians should look in the mirror, rather than attack Threadneedle St
Yesterday’s GDP figures, like all the ones before them, showed little sign of it: while services grew 0.8pc, every other sector shrank, led by construction, which dropped 1.4pc, and manufacturing, which fell 1pc. George Osborne came to power...
Read moreStrong demand for bonds that can last a lifetime
Governments have sold a record $49bn of debt with ultra-long maturities this year. This week Austria sold government debt that will not mature until 2086 — highlighting the risk investors are willing to run for positive yields. As developed-world...
Read moreBelgian Walloons yield on EU-Canada deal under pressure, but sorry saga is a warning for Britain
“We are demanding the highest standards, modeled on the European Court of Justice,” said Mr Magnette. The comments may raise eyebrows among critics of alleged ECJ bias in recent years. The Walloon farmers immediately rejected the...
Read moreWill the Brexit revolution be Glorious or bloody? The fate of Mark Carney will tell
If we think of Brexit as a revolutionary force, then few seem better to embody the ancien regime than Mark Carney, Governor of the Bank of England. As a former managing director of Goldman Sachs who is as comfortable in the world of high finance...
Read moreDeath of the native UK investment bank greatly exaggerated
Veteran employees of Barclays’ investment bank must have been pawing the ground like old warhorses at the smell of cordite. Profits jumped £530m to £885m in the third quarter. The unit, for so long the source of losses, write-offs and angry...
Read moreLondon Mayor and business groups slam business rates overhaul and urge reform
In total, London’s businesses will have to pay £885m more annually due to the revaluation, and across the city the average hike is 11pc. The Government has proposed a relief scheme that would limit increases for business at 45pc in a year...
Read moreGoogle parent company says revenue up 20.2pc, sets $7bn share buyback
Google parent Alphabet reported a 20.2pc rise in quarterly revenue on Thursday, helped by robust sales of advertising on mobile devices and YouTube, and the search giant said it would repurchase about $7bn of its Class C stock. Alphabet, along...
Read moreAmazon's quarterly revenue jumps 29pc
Amazon reported a lower-than-expected quarterly profit on Thursday as expenses rose and the company provided a disappointing fourth-quarter revenue forecast. Amazon, whose shares were down 6.8pc in after-hours trading, said its net income rose to...
Read moreChina is in better shape than its critics make out
Like Japan, China has been running a substantial balance of payments surplus. As a result, it does not have large amounts outstanding to foreign investors and lenders. Chinese debt is unlikely to bring about a currency crisis because the state...
Read moreAmec Foster Wheeler shares plunge as new strategy delayed
It has set a target of £500m asset sales by June 2017 and yesterday said it had reached agreements in principle on £100m sales and was in talks to split up and sell its GPG division, worth about £200m. It has also identified £100m of cost...
Read moreDebenhams profits slip as it looks to shift away from reliance on clothing
“Our diversified business model together with good cash generation and reducing debt means that Debenhams is in good shape to withstand a market background that remains uncertain,” said Sir Ian Cheshire, the company chairman. He...
Read more