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Thursday, May 24, 2018
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Bunnings pulls out of Britain after $1bn-plus disaster 24 May 9:57pm Bunnings pulls out of Britain after $1bn-plus disaster
Australian hardware chain’s doomed acquisition of Homebase stores ends with sale for ‘nominal amount’ to British company Hilco
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Currencies in USD
GBP 1,33 +0,602%
EUR 1,17 +0,944%
CHF 1,01 +0,594%
Bank ready to act if UK faces disorderly Brexit, Mark Carney says 24 May 3:10pm Bank ready to act if UK faces disorderly Brexit, Mark Carney says
Bank of England governor prepared to respond in ‘whatever form it takes’ Mark Carney has signalled the Bank of England would be prepared to cut interest rates – or freeze plans to increase them – in order to support jobs and economic growth should Britain be plunged into a disorderly Brexit. Outlining the options available to Threadneedle Street as the UK moves closer towards leaving the European Union from next year, the bank’s governor said the institution was ready to respond to Brexit in “whatever form it takes”.
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Deutsche Bank to slash more than 7,000 jobs; chairman survives revolt – as it happened 24 May 2:45pm Deutsche Bank to slash more than 7,000 jobs; chairman survives revolt – as it happened
German investment bank faces angry shareholders after announcing a wide-ranging restructuring that could hit the City hard
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Is BT remuneration committee measuring the right things? 24 May 2:36pm Is BT remuneration committee measuring the right things?
For all the talk of triumph in the boardroom, the share price has more than halved in two years Shareholders in BT may be under the impression their company had a lousy time last year. Investors did. BT’s share price fell by a third in a rising stock market and sits at its lowest level since 2012. The dividend was merely held, making a nonsense of the chief executive Gavin Patterson’s confidence a couple of years ago that double-digit increases were in prospect. Staff, too, may be less than cheerful. Some 13,000 are about to lose their jobs as Patterson confronts the fact that BT’s revenues are falling again. But, no, it turns out that 2017-18 was a triumph, at least in the boardroom. The victory wasn’t the maximum possible under the terms of the executive bonus scheme but the outcome was “above target”, says the annual report. Even Patterson seems to have sensed that finding looks perverse because he volunteered for an “at target” score, meaning
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New TSB gaffe: bank claims some former customers have died 24 May 2:17pm New TSB gaffe: bank claims some former customers have died
Customers who left bank after IT meltdown say direct debits were cancelled after TSB told companies they were dead TSB has apologised for another glitch after some former customers found their direct debits had been cancelled because firms were apparently told they had died.
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Deutsche Bank to slash more than 7,000 jobs – business live 24 May 1:26pm Updated Deutsche Bank to slash more than 7,000 jobs – business live
German investment bank faces angry shareholders after announcing a wide-ranging restructuring that could hit the City hard
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Deutsche Bank slashes 7,000 jobs, with City likely to take hit 24 May 11:18am Deutsche Bank slashes 7,000 jobs, with City likely to take hit
Bank announces investment arm will lose one in four jobs just hours ahead of AGM Deutsche Bank, Germany’s largest lender, is to cut more than 7,000 jobs globally, with its investment banking business in London likely to be hit.
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‘Max-fac’ is an idiotic idea that will bankrupt British businesses | Richard Reed 24 May 11:06am ‘Max-fac’ is an idiotic idea that will bankrupt British businesses | Richard Reed
The Brexiters’ absurd customs plan would cost around £350m a week. I don’t remember seeing that on any big red busesI’m not a politician, I’m an entrepreneur. I don’t believe in false promises or rigid ideology. I believe in creating opportunities, good deals and looking out for the people who work for me. I campaigned passionately for the remain side during the
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EU settles seven-year Gazprom dispute without imposing fine 24 May 10:40am EU settles seven-year Gazprom dispute without imposing fine
Deal bans firm from restricting how its customers in central and eastern Europe use gas The EU has settled a seven-year dispute with Gazprom after the Russian state-controlled energy giant agreed to change its operations in central and eastern Europe.
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BT paid chief £2.3m shortly after revealing 13,000 job cuts 24 May 10:23am BT paid chief £2.3m shortly after revealing 13,000 job cuts
Annual report shows group missed profit and revenue targets by some distance BT has revealed it paid chief executive Gavin Patterson £2.3m last year, just weeks after
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Louis Vuitton owner LVMH invests in fashion search site Lyst 24 May 8:00am Updated Louis Vuitton owner LVMH invests in fashion search site Lyst
Luxury brands look to expand their presence online and attract younger shoppers Louis Vuitton owner LVMH has invested in online fashion search business Lyst as the world’s biggest luxury brands look to expand their presence online and capture younger shoppers. London-based Lyst did not disclose how much it had raised in its latest financing round which was led by LVMH and included other investors.
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Nottingham has lowest household disposable income in UK 24 May 7:36am Nottingham has lowest household disposable income in UK
Take-home pay is one-fifth of the disposable income enjoyed by people in west London Nottingham is the city with the lowest incomes in the UK, where residents’ take-home pay is only one-fifth of the disposable income enjoyed by people in west London. The average household income, once taxes and benefits are taken into account, is only £12,232 in Nottingham, compared to £58,816 in Kensington and Chelsea, and Hammersmith and Fulham in west London.
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UK retail sales come in from the cold with a 1.6% rise in April 24 May 7:07am Updated UK retail sales come in from the cold with a 1.6% rise in April
Biggest sales jump in 18 months as shoppers return to the high street, but underlying trend still weak Retailers enjoyed the biggest jump in sales in 18 months during April as shoppers, forced to stay home by
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Europcar claims I scratched my hire car, but where’s the evidence? 24 May 5:13am Updated Europcar claims I scratched my hire car, but where’s the evidence?
It has charged me more than £500 for repairs but can’t even tell me how big the scratch was
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Bovis Homes hit by shareholder revolt over pay of interim chief 24 May 5:12am Bovis Homes hit by shareholder revolt over pay of interim chief
Shareholders voted 37.6% against remuneration report at annual meeting Bovis Homes has suffered a sizeable shareholder revolt over the pay package it awarded its interim chief executive for fighting off two hostile takeover bids and steadying the business after a
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