Goldman Sachs has became the latest Wall Street giant to post surging profits on the back of soaring revenues in its trading business. Like rivals Bank of America, JP Morgan and Citigroup, Goldman enjoyed a boost during the third quarter from a...
Read moreHiring hit sharply by Brexit vote, says recruitment firm
Hiring in the UK fell sharply after the vote to leave the European Union, a leading recruitment firm has said. London was particularly affected, said Hays, which helps employers in the finance and IT sectors to find staff. The company’s...
Read moreThe unwise war against low interest rates
Many influential interests and opinion-formers detest today’s ultra-low interest rates. They are also clear who is to blame: central banks. Theresa May, UK prime minister, has joined the fray, arguing that “while monetary policy … provided the...
Read moreBurberry shares drop despite modest sales recovery
Bags, ponchos and dresses helped Burberry’s like-for-like sales return to growth over the last quarter as the fashion giant steers a fightback from the slowdown in luxury spending. The British fashion group is expected to be one of the...
Read moreAsos boss says retailer will 'prosper' from sterling slump
The company revealed that its customers typically use its mobile app eight times a month and spend 70 minutes online. At the moment only 15pc of the UK’s fashion market is online, but the Asos boss predicts this will reach 30pc to 40pc within the...
Read moreTesco grows market share for first time in five years
Of Tesco’s chief rivals, Sainsbury’s fared the best, posting a 0.4pc sales drop during the period. Sales fell 3pc at Morrisons, which has shut stores during the last year, reducing its share of the market. Asda continued to trough, with sales...
Read moreWilliam Hill scraps Amaya merger talks after shareholder dissent
Bookmaker William Hill has scrapped plans for a multibillion-pound merger with Canadian online poker giant Amaya just days after its largest shareholder openly opposed the deal. The London-based betting firm said it would consider...
Read moreICE told to sell energy trading firm Trayport after competition complaints
US markets giant InterContinental Exchange (ICE) has been told it must sell its new energy trading platform Trayport less than a year after it sealed a deal to buy the London-based firm. ICE, which owns the New York Stock Exchange, beat...
Read moreInstitutional investors eye more real estate, despite global uncertainty
The world’s institutional investors are continuing to up their allocations to real estate despite dropping confidence in the market. Average target allocations to real estate among investors will hit 10pc next year for the first time, according...
Read moreGovernment borrowing costs rise again on inflation fears
That does not mean the rising yields are over, however – investment bankers at Morgan Stanley, for example, are recommending that investors short the bond, meaning they will benefit from a further fall in prices and rise in yields. Inflation is...
Read moreDirty diesel generators in line for UK subsidies
While there is no guarantee that any of these projects will go on to secure subsidies, in previous years diesel plants have had a high success rate of about 75pc in the auction. If 4GW of diesel enjoyed a similar success rate and won similar...
Read moreMarket report: Luceco’s shares light up the market
Meanwhile, worries over the terms of Britain’s exit from the European Union and the prospect of the US Federal Reserve raising interest rates dampened investor confidence across stock markets. The FTSE 100 index of leading companies ended...
Read more