Axa boss Henri de Castries on coal: 'Do you really want to be the last investor?'
Head of giant insurer, and chair of the shadowy Bilderberg group, talks about selling off fossil fuel investments, China’s stock market crash and Brexit Henri de Castries might just be the most powerful man in the world. He is chief executive and chairman of one of the world’s biggest insurers, Axa, and a member of […]
Jaguar Land Rover cuts prices in China after falling sales hit Tata profits
Luxury carmaker suffers 7% drop in sales in vital China market partly due to slowdown in economy, but European sales surge 28% Jaguar Land Rover is cutting prices in China after being hit by sliding sales in the world’s biggest car market. Demand for the British-designed luxury sedans and four-wheel-drives has slumped during a slowdown […]
Union files pay claim to Sports Direct over zero hours contracts
Unite wants the retailer to move thousands of zero-hours workers at its main warehouse in Shirebrook on to permanent contracts Unions representing staff at Sports Direct’s main warehouse in Shirebrook have filed a pay claim asking the retailer to move thousands of zero-hours workers on to permanent contracts. Unite, which represents just a handful of […]
Unemployment rate remains steady at 5.3% as US economy adds 215,000 jobs
As the US economy continues to add jobs, the Federal Reserve is expected to raise interest rates for the first time in almost a decade come September The US economy added 215,000 jobs in July, while the unemployment rate remained steady at 5.3%, meeting expectations. The numbers released by the Department of Labor on Friday […]
Jeremy Corbyn's bill for nationalising energy sector costed by City at £185bn
City analysts say regulatory hurdles for Labour leadership runner’s ambition to nationalise energy sector would see minimum £124bn bill Nationalising the major power providers, as suggested by Labour leadership candidate Jeremy Corbyn, could cost £185bn, according to leading City analysts. Following a report in the Financial Times in which Corbyn discusses an ambition to take […]
Bellway upbeat on housing market
Company reports record completions during the year Bellway is the latest housebuilder to unveil an upbeat trading statement. The company said it sold a record number of homes in the year to the end of July, up 13.2% to 7,752. It reported a 5% rise in average selling prices, and chief executive Ted Ayres said: […]
GVC raises stakes in battle for online gambling group Bwin
Bid valuing the group at just over £1bn trumps offer made by rival suitor 888 Holdings that was recommended by Bwin board The battle for control of Bwin.party took another twist as GVC Holdings outlined a higher offer for the online gambling group. GVC said on Friday it had made a cash and shares offer […]
RBA unlikely to cut interest rates further after issuing upbeat economic forecast
Reserve Bank expects growth to pick up to between 3 and 4.5% by December 2017, but ASX200 down 2% amid sell-off of shares in the big four banks The Reserve Bank appears likely to keep its powder dry on another interest rate cut, issuing an upbeat assessment of the economy. While the central bank has […]
High street stores suffer worst summer for six years
Fashion retailers worst hit as shops blame sales slumps on poor weather and lingering low consumer confidence, according to accountants BDO The UK high street has endured its worst summer in six years, as volatile weather and the lure of restaurants and holidays kept shoppers away. Underlying sales, which exclude new store openings, slipped by […]
RSA's results make independence a credible alternative to Zurich buyout
First-half results vindicate chief Stephen Hester and could take insurer’s share price beyond the reach of Swiss rival, whose own reported figures are weak As the first chapter of a possible defence document, RSA’s first-half results read very well. After 18 months of cutting costs and flogging small units overseas, chief executive Stephen Hester has […]