Italian PR firm SEC in Aim listing to fund UK and European growth July 24, 2016 Italian public relations and communications agency SEC will list on London’s junior Aim market tomorrow. SEC has raised £3.4m before expenses to fund the growth of the business around Europe with discussions being held for acquisitions in the UK, France and Poland. The flotation will be the first European business to list on Aim since the [...]
Profit warnings creep up to highest level since recession July 24, 2016 UK-listed firms posted the highest number of profit warnings in any second quarter since the financial crisis, a new report from accountants EY has found. A total of 66 firms told the markets they would fall short of earnings' expectations in the three months to the end of June, taking to total number for the [...]
Yellen to unveil another hawkish hold in Fed’s first post-Brexit meeting July 24, 2016 The US Federal Reserve will stand firm this week when it gets the chance to make its first move on interest rates since the UK voted to leave the European Union. Markets and analysts say there is no chance the Fed's rate-setting Federal Open Market Committee (FOMC) is going to hike rates this Wednesday, but [...]
International Monetary Fund backs chief Christine Lagarde ahead of looming negligence trial July 24, 2016 The International Monetary Fund (IMF) has backed its chief ahead of her negligence trial for which she denies any wrongdoing. Lagarde is battling charges of negligence over a €405m (£339m) payment to French businessmen Bernard Tapie while she was the French finance minister. While the IMF also denies any wrongdoing, she could face jail time if she is [...]
Oil majors to stage sharp rebound due to crude’s modest revival July 24, 2016 Oil majors' second quarter earnings will show a sharp rebound when they're released next week, largely due to a modest recovery in the world's stricken oil markets. BP will kick off proceedings when it reports on 26 July, followed by Total and Shell on 28 July and Exxon and Chevron a day later. "Oil majors' second quarter 2016 earnings [...]
Caution prevails as shoppers think twice about big ticket items July 24, 2016 Three-quarters of UK households do not believe their personal finances will take a short-term hit following the UK's vote to leave the EU, according to a new survey. More than half of all consumers told Ipsos Mori they believe their own situation will be unchanged over the next six months, while one-fifth said it was likely to [...]
Top world economies commit to contain Brexit fallout at G20 finance ministers meeting July 24, 2016 World leaders have indicated they stand ready to act to ensure the UK's vote to leave the EU does not upset already-fragile global economic growth. G20 finance ministers and central bank governors said the world's largest economies "are well positioned to proactively address the potential economic and financial consequences stemming from the UK referendum," at the conclusion [...]
Enjoy it while it lasts: Bumper GDP figures to mask post-vote slowdown July 24, 2016 The UK economy grew handsomely in the second quarter of the year, official data out this week is expected to show, though analysts suspect it will be the last piece of good economic news for the foreseeable future. GDP growth is pitted to come in at around 0.5 per cent for the three months to [...]
Brexit one month on: What’s the effect on London’s tech scene? July 24, 2016 The result of the most significant political decision of our generation was at odds with the overwhelming consensus of London’s technology companies and wider business community. But, with the entrepreneurial spirit that has defined our digital success, tech companies and professionals almost instantly set their sights on turning adversity into opportunity. The values that set technology against the rhetoric [...]
Carney says global economy has weathered uncertainty well July 24, 2016 Mark Carney has said the global economy has successfully weathered uncertainty, including downward revisions to global growth and the initial shock of the EU referendum result. In a letter to G20 finance leaders and central bank governors, the governor of the bank of England said in his capacity as the head of the Financial Stability Board [...]
