Monthly Archives: June 2017

City must come first in Brexit, May told

Theresa May risks crippling the economy unless the City of London is prioritised immediately in Brexit talks, senior City sources warned on Friday. There are concerns that a weakened Prime Minister will shy away from putting financial services, the backbone […]

BHP Billiton puts $250m towards Samarco clean-up

BHP Billiton has released a $250m (£193m) payment that will go towards rehabilitation work in Brazil, where efforts continue to clean up a deadly tailings dam collapse. The world’s largest miner by revenue will put $174m towards the Renova Foundation […]

Fastjet snaps up ownership of its brand name with £2m Stelios deal

Sir Stelios Haji-Ioannou, the founder of African airline Fastjet, has made an ‘easy’ $2.5m (£1.92m) after selling the company’s name to it. The high-profile easyJet founder had been earning a fee from the Johannesburg-based airline by licensing out the name […]

Outsourcer Serco warns of market ‘unpredictability’

British outsourcer Serco has warned that its markets have become “markedly more unpredictable” and said that underlying profits would be 30pc lower in the first half of the year. Serco, which embarked on a major transformation process in 2014, added […]

Trinity Mirror warns of higher phone hacking compensation bill as print revenues fall

Trinity Mirror has boosted its war chest for phone hacking compensation by £7.5m, warning investors that remaining damages payouts to those targeted by its newspapers will be higher than expected. The move brings Trinity Mirror’s total phone hacking bill to […]

Nisa returns to the black as Sainsbury’s takeover looms

Nisa has reported a return to profit as it waits to seal a £130m takeover by Sainsbury’s. The company, which runs 3,000 convenience shops around the country and counts 1,400 members, provided little update on how talks were progressing a […]

Household saving drops to fresh low as UK suffers longest stretch of falling real incomes in 40 years

British households are saving less than ever before amid the longest period of falling real household incomes in forty years, official figures show. The Office for National Statistics (ONS) said the UK’s dominant services sector expanded at the slowest quarterly […]

Pound pares overnight gains following UK GDP data

The dollar has performed poorly against all the major currencies this week The pound climbed over $1.30 overnight but has since dropped back down following UK GDP growth figures Tech sell-off continued in the American and Asian markets last night […]

Game Digital shares nosedive 25pc after warning profits will be ‘substantially below’ expectations

Shares in video games retailer Game Digital plunged nearly 25pc after warning that its profits would be “substantially below” previous expectations. The company blamed low supply of Nintendo Switch consoles for hitting sales. Game said demand for the Switch, which […]

Virgin Media to cut 200 jobs after management shake-up

Virgin Media plans to make around 200 redundancies following a management shake-up at the cable operator. It is understood that staff at risk of losing their jobs were contacted by phone Thursday afternoon. The majority are thought to work at […]