News: Money

Debenhams half-year profits slump by 85%

Friday  08:10,   20 april 2018
Sky News

Debenhams has reported an 85% slump in half-year profits after sales were battered by the Beast from the East and heavy restructuring costs also took their toll. The department store chain said almost 100 of its stores temporarily closed as a[...]

GKN board resigns after £8.1bn takeover

Friday  06:40,   20 april 2018
Press Association

Melrose said an early-stage review had confirmed the ‘extent of the opportunity to improve GKN’s business’.GKN chief executive Anne Stevens and chief financial officer Jos Sclater are among those who resigned on[...]

Brexit Britain slides down Europe’s economic league table

Thursday  16:33,   19 april 2018
The Financial Times

Britain’s economy will perform worse than the rest of Europe, except Italy, over the next two years as it navigates Brexit, the IMF said in its World Economic Outlook on Tuesday. Higher barriers to trade and lower foreign direct investment[...]

European Car Sales Weakest in 5 Years on Brexit-Britain Drag

Thursday  16:33,   19 april 2018
Bloomberg

European car sales turned in their weakest performance in the first quarter since an industrywide contraction five years ago, as U.K. consumers’ apprehension over Brexit continued to erode demand in the region’s second-largest market. First-quarter[...]

Shopping centre owner ditches £3.4bn takeover of rival

Thursday  16:27,   19 april 2018
Sky News

Shopping centre owner Hammerson has called off its plan to take over rival Intu in a £3.4bn deal, amid concerns about the health of the UK retail sector. Hammerson, which owns Birmingham's Bullring centre and Brent Cross in London, had agreed in[...]

IMF warns of rising threats to global financial system

Thursday  16:27,   19 april 2018
Bloomberg

Threats to the global financial system are rising, with the price of risky assets surging in a manner reminiscent of the years before the global financial crisis, the International Monetary Fund warned. Downside risks to world financial stability[...]

Sky shrugs off ‘challenging’ markets to deliver 10% earnings hike

Thursday  16:27,   19 april 2018
Press Association

Sky’s nine-month earnings rose to £1.7 billion as it added another 38,000 new customers in its third quarter.The group – which is being fought over by Rupert Murdoch’s 21st Century Fox and US media group Comcast – said it added another 38,000 new[...]

The pound is the 'darling of the currency world' right now — and it's only going to get better

Thursday  16:27,   19 april 2018
Business Insider

The pound is the "darling of the currency world" right now, according to ING FX strategist Viraj Patel. That's because the pound has stopped trading on Brexit developments for the time being, and is moving more on its fundamentals.[...]

Brussels seeks emergency powers to prepare for hard Brexit

Thursday  16:27,   19 april 2018
The Financial Times

Brussels is issuing dozens of legal proposals on Brexit over the next 10 weeks, in a flurry of lawmaking to prepare the EU for an sharp break from the UK — partly by giving emergency powers to the bloc’s institutions. The European[...]

Interest rate decision has just become interesting

Thursday  16:26,   19 april 2018
Sky News

The future of the UK's economy has just been given a little twist by women's clothing, booze and deodorants. Between them, they helped to push down inflation by more than expected.At 2.5%, the cost of living has taken a decent-sized step[...]

After working in a world of 'tech bros,' this woman founded a female-only island

Thursday  16:21,   19 april 2018
CNBC

At SuperShe island resort is literally a no-man's land.Well, entrepreneur Kristina Roth actually made that happen. She's not just escaping to an island, she owns it. And she's opening it up to women worldwide. But men? They're not[...]

Gates: Internet giants failed to predict data scandal

Thursday  16:21,   19 april 2018
Sky News

Internet giants failed to predict the data privacy issues that have rocked companies such as Facebook, Bill Gates has said.  In an interview with Sky News, the Microsoft founder said most technological innovations over the last century faced[...]

Facebook, Microsoft, others vow not to aid state cyberattacks

Thursday  16:21,   19 april 2018
CNET

Nearly three dozen tech companies have signed a pledge promising they won't help governments carry out cyberattacks. The agreement comes after a whirlwind year of breaches, cyberattacks and vulnerabilities in 2017. The accord would include[...]

IMF Spots Trouble Ahead as Solid World Growth Poised to Slow

Thursday  16:20,   19 april 2018
Bloomberg

The International Monetary Fund predicted the world economy’s strongest upswing since 2011 will continue for the next two years, but warned the seeds of its demise may have already been planted. The fund on Tuesday left its forecasts for global[...]

450 jobs at risk as M&S axes distribution centre

Thursday  16:20,   19 april 2018
Sky News

Marks & Spencer (M&S) has announced the closure of a second major distribution centre, putting 450 more jobs at risk. The retailer said its Hardwick site outside Warrington, operated by XPO Logistics and DHL, would be surplus to[...]