Commonwealth Bank announces record $9bn profit, seeks to raise $5bn in capital
The result is up 5% from last year’s $8.68bn profit and is in line with market expectations Commonwealth Bank of Australia has announced a $5bn capital raising as it unveiled a record $9.14bn cash profit. The profit result is up 5% from last year’s $8.68bn result and is largely in line with expectations. Continue reading… […]
Kipper Williams on farmers' protests over milk prices
Lobby group says concessions made by Morrisons do not go far enough and will have little impact on dairy industry Continue reading… Source: The Guardian Circular Economy RSS
Bank of England to examine whether financial reforms have held back growth
Governor Mark Carney tells George Osborne that City traders and bankers will be asked for their views on effect of financial stability policies Mark Carney has told the government that the Bank of England is to examine whether policies intended to strengthen financial stability in the economy have held back economic growth. The bank governor […]
Chinese yuan: everything depends on what happens next
People’s Bank of China described move as a ‘one-off’ but if Beijing seeks to boost imports through devaluation, it will be a painful process China’s weakening of the yuan by 1.9% is an event that, in a year’s time, will be seen either as an irrelevance or a major turning point for the global economy. […]
The Co-operative Bank's timeline of troubles
Bank’s fortunes plummeted following Britannia merger in 2009, leading to record £1.3bn loss, and investigations by regulators continue August 2009 After almost a year of talks, the Co-operative bank and the building society Britannia agree a merger. The former Britannia boss Neville Richardson takes over as the chief executive of Co-operative Financial Services (CFS) and […]
The trends spawning the next wave of sustainable business models
From the sharing economy to digitization, technological and cultural trends are changing the way we think about sustainability Yarra Valley Water had a problem: the water and sanitation company in Melbourne, Australia, couldn’t easily see what was going on with its operations. It was hard to determine if any of its $2bn US in assets […]
Greece clinches bailout deal, Commission says – as it happened
Eurogroup to meet on Friday to approve deal Germany voices usual caution Greek shares rise, bond yields fall China devalues yuan by record 1.9%, sending ripples through global markets Closing summary 5.47pm BST Greece has agreed a deal in principle with its lenders about a third bailout, worth around €85bn and allowing some €10bn to […]
Jaguar Land Rover urged to give assurances over 36,000 British jobs
Unite union calls on luxury carmaker to guarantee future of its UK workforce after JLR signs agreement to open factory in Slovakia Jaguar Land Rover (JLR) is under pressure to guarantee the future of its UK workforce after the luxury carmaker signed a letter of intent to build a factory in Slovakia. Des Quinn, the […]
Why is Carphone Warehouse still called Carphone Warehouse?
Do you know anybody who has a carphone? Neither do we – but how could the high-street retailer, recently the alleged victim of a data hack, update its moniker to something a bit more modern? Some data breaches are baffling – June’s US government personnel database, for instance, or Ashley Madison, which trades on illicit […]
Do you know where the world's most dangerous mosquitoes live?
Continue reading… Source: The Guardian Circular Economy RSS