Business services drive rebound in private sector growth January 4, 2016 The private sector gained momentum toward the end of the year, according to survey figures released this morning. The Confederation of British Industry’s (CBI) growth indicator strengthened in the final three months of 2015, with growth driven by the services sector. Manufacturers continued to struggle, the CBI said. The difference between the percentage of firms reporting [...]
Ukraine gears up for London legal battle: Russia is taking its neighbour to court over an old political loan January 4, 2016 The tense standoff between Ukraine and Russia over a $3bn loan will enter its next stages in London as we head into 2016. Russia said at the end of last week that it will be taking Ukraine to an English court after the country failed to repay a $3bn bond due last month. The countries’ debt [...]
Alexis Tsipras defiant ahead of crunch negotiations on pension reform January 4, 2016 Greek Prime Minister Alexis Tsipras has said he will not give in to “unreasonable” demands as he braces for negotiations with creditors over pension cuts. The country is aiming to pass the bill through parliament by January 15. The pension reforms form part of an €86bn (£63bn) bailout package agreed to in August, of which [...]
New report: Low oil prices, China slowdown to blame for “notable downswing” in London Stock Exchange AIM market January 4, 2016 A new report out today reveals that more than 50 companies de-listed from AIM last year, the largest net decrease for the London Stock Exchange’s growth market since 2012. Researchers from UHY Hacker Young, the accountancy group, said that the number of companies listed on AIM fell by 52 during 2015, a “notable downswing” compared [...]
Warm weather to cool Christmas sales at Marks & Spencer January 4, 2016 The mildest December on record combined with intense competition on the high street is expected to spell a gloomy end of the year for retailers, with Next and Marks & Spencer the first to unveil this week how they fared over the crucial Christmas period. The wet and mild weather, security fears in the aftermath of the [...]
City PM’s journalists take a look at what 2016 has in store for the world of finance and business January 4, 2016 BANKING Strengthening outlook despite more regulatory bumps ahead Bank of England governor Mark Carney may have declared the banking crisis officially over at the end of last year, but 2016 looks to be far from a challenge-free year for Britain’s biggest banks. To be sure, all seven of the UK’s leading lenders passed the Bank’s [...]
Business confidence dips as the City braces itself for a challenging 2016 January 4, 2016 The City is bracing itself for a tough 2016, with data out today showing that business confidence has taken a knock and finance chiefs are approaching the new year with caution. Lloyds Bank’s business confidence index – a gauge of expected sales, orders and profits – declined to a score of 38 per cent this [...]
Carlyle insists it’s not hungry for Holland & Barrett sale January 3, 2016 Private equity firm Carlyle, owner of high street health food chain Holland & Barrett, has insisted that it is in no hurry to part ways with the retailer in 2016. A spokesperson told City PM that there is no intention of a sale in 2016, though there will be an exit at some point. In [...]
Fund manager ditches BG shares as the oil price outlook darkens January 3, 2016 The takeover of oil firm BG Group by behemoth Royal Dutch Shell is facing further investor woes. US fund management firm Capital Group sold £417m of BG shares in December stock exchange filings reveal. Capital Group, also a big investor in Shell, is the latest fund manager to appear sceptical about the deal, which was agreed [...]
Sainsbury’s, Tesco, Asda and Morrisons diesel prices lowered to 99.7p falling under £1 for first time since 2009 amid falling oil prices January 3, 2016 The price of diesel will fall below £1 for the first time since 2009 at all Big Four supermarkets as Tesco and Asda were first to announce the cost of filling up will cost less, bringing a new year gift to motorists across the country. Supermarkets will drop the price per litre to 99.7 pence from Monday, with both [...]
