Monsanto share price rises as it announces 2,600 job cuts October 7, 2015 Shares in seed giant Monsanto rose today after it announced 2,600 job cuts and restructuring operations to cut costs amid a commodity price rout. The New York-listed group expects to make savings of $275 (£180m) to $300m by the end of fiscal year 2017, at a total cost of approximately $850 to $900m. Monsanto is also developing plans to reduce [...]
Acton, Earls Court, Old Oak Common and Nine Elms: These are London’s next 10 housebuilding hotspots October 7, 2015 The capital's supply of homes for sale – both new-builds and people putting their previously-loved properties on the market – continues to be pathetically low. But as the government attempts to increase the number of homes being built in the capital, parts of London are about to experience mini housebuilding revolutions. Knight Frank's Global Development Report highlights the areas where the biggest [...]
Renault might lose some of its stake in Nissan October 7, 2015 Renault could be about to lose some of its stake in Nissan, according to the Nikkei business daily. The French and Japanese car manufacturers have been joined in an alliance since 1999, under which Renault owns 43.4 per cent of Nissan and Nissan owns 15 per cent of Renault. Read more: Car manufacturer Renault [...]
Rocketing London house prices push up demand in commuter hubs including Bexley, Watford, Cambridge and Sutton October 7, 2015 The London borough of Bexley was the most in-demand location for house buyers in the UK in the three months to September, research published today by eMoov reveals, yet demand in the rest of the capital stagnated as soaring house prices pushed potential buyers into the commuter belt – a kind of ripple effect. Watford, [...]
Rocketing oil and gas production masks weak underlying trend in industrial production October 7, 2015 A surge in oil and gas output lifted industrial production to a four-year high in August, figures from the Office for National Statistics showed this morning – but economists have warned the underlying trends are still weak. Total industrial production, which is mostly manufacturing but also includes mining, quarrying and utilities, climbed 1.9 per cent on [...]
Volkswagen emissions scandal: Economist warns of potential “sizeable macroeconomic hit” October 7, 2015 The Volkswagen emissions cheating scandal could have a major impact on the German economy, according to new research. The country's car industry accounts for €380bn, or 20 per cent of all business revenues, according to the report from Dario Perkins, chief European economist at Lombard Street Research. German cars also make up almost a third all [...]
Samsung’s share price leaps as it unveils profit boost October 7, 2015 Korean electronics giant and Apple arch-nemesis Samsung said today that it expects sales of 50-52 trillion won (£28.1bn-£29.2bn) in the third quarter of this year. Shareholders reacted with enthusiasm to the trading update, pushing the company's Korean-listed shares up 8.7 per cent. The company added that it expects operating profit for the quarter to be in the [...]
German industrial production suffers steep decline in August October 7, 2015 Industrial production in Germany, the Eurozone’s biggest economy, dropped at its fastest pace for a year in August, according to figures released this morning. Total production, which includes construction, manufacturing and mining, dipped 1.2 per cent in August compared with July, German statistical office Destatis said. The production of capital goods fell 2.1 per cent [...]
London’s economic growth: The capital leads the way as a wealth maker October 6, 2015 London’s economy is outstripping the rest of the country, growing 3.3 per cent year on year, compared with a national average of 2.5 per cent, according to RBS’ regional growth figures out today. London’s economic growth was boosted by its burgeoning professional, scientific and technical services industries. The City and the West End, unsurprisingly, were [...]
Standard Chartered plan for subsidiary bank in India October 6, 2015 Standard Chartered is set to become the first major foreign bank to set up a subsidiary in India. The London-based bank is the only one of India’s three big foreign lenders, which include HSBC and Citigroup, to agree to regulatory changes requesting foreign banks set up subsidiary companies, according to a report in the Financial [...]