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Archive for September, 2016

RBS brings back NatWest Markets name as part of ‘ring-fencing’

September 30, 2016

Royal Bank of Scotland is renaming its investment bank NatWest Markets as part of its separation from the bank’s High Street operations. On the High Street, NatWest will remain in England and Wales, while in Scotland it will be Royal Bank of Scotland. The bank, which is still 73% owned by the taxpayer, must “ring-fence” […]

Nissan boss warns on UK investment

The boss of Nissan has warned that Brexit uncertainty and possible tariffs could damage investment in the UK’s biggest car factory. Chief executive Carlos Ghosn said the firm would need “compensation” for tax barriers that might result from Britain leaving the European Union. Nissan’s plant in Sunderland produces about a third of the UK’s car […]

Deutsche Bank chief Cryan tries to reassure on bank’s strength

The chief executive of troubled Deutsche Bank has emailed the 100,000 staff to reassure them that the German giant’s finances are strong. John Cryan told them the bank had become the object of “hefty speculation” and that “new rumours” were causing the share price to fall. Deutsche’s shares hit new lows on Friday as confidence […]

UK spending grew strongly post-Brexit vote, ONS data shows

The UK services sector grew 0.4% in July, much more strongly than expected in the wake of June’s vote to leave the European Union. It shows consumers carried on spending as normal after June’s Brexit vote. Other figures from the Office for National Statistics (ONS) show economic growth accelerated faster than thought in the run-up […]

Commerzbank plans to cut 9,600 jobs

September 29, 2016

Germany’s second-biggest lender, Commerzbank, is planning to cut 9,600 jobs over the next four years and end dividend payments for the first time. In a statement, the bank said by the end of 2020 it would have “sustainably increased its profitability”. However, the bank also said it aimed to create 2,300 new posts in areas […]

Millions have less than £100 in savings, study finds

More than 16m people in the UK have savings of less than £100, a study by the Money Advice Service (MAS) has found. In five areas of the country, more than half the adult population has savings below that level. Those areas are Northern Ireland, the West Midlands, Yorkshire and Humber, North East England and […]

UK auto’s starkest warning yet

The UK car industry kicked off its own Tour de France today in the shadow of the Eiffel Tower on the sidelines of the Paris Motor Show. Vauxhall, Nissan, Jaguar, Aston Martin, Mini, Toyota and McLaren models were lined up alongside each other. However, this showroom was not for selling cars, but for issuing the […]

Liam Fox predicts freer EU trade post-Brexit

The UK’s trade with the European Union will be “at least as free” after Brexit as it is now, Liam Fox says. The International Trade Secretary said it was in other countries’ interests to avoid tariffs which he said would “harm the people of Europe”. He also predicted the UK would be a standard-bearer for […]

Arnold Palmer: How golfer defined sports marketing

September 27, 2016

The passing of famous golfer Arnold Palmer has reminded the world of a true trailblazer in sports business. Palmer, who has died at the age of 87, was the first sportsman to use his fame to build a business empire, through an array of commercial ventures. He put his name to products and services, including […]

WTO cuts trade forecast by a third

The World Trade Organization has cut its forecast for global trade growth this year by more than a third. The new figure of 1.7%, down from its April estimate of 2.8%, would be the slowest pace of trade and output growth since the 2009 financial crisis. It is also the first time in 15 years […]

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