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Archive for April, 2017

Brexit: Tusk says UK trade deal not a priority

April 28, 2017

European Council President Donald Tusk says agreement on “people, money and Ireland” must come before negotiations on the European Union’s future relationship with the UK. Mr Tusk’s message came in a letter to 26 other EU leaders – not the UK. He will chair a summit of the 26 in Brussels on Saturday to try […]


Google, Amazon and Microsoft report rising profits

Profits surged at four US tech giants in the first three months of the year. Profits at Google parent Alphabet increased 28% year-on-year to to $5.4bn (£4.2bn), boosted by advertising on mobile phones and the popular YouTube video service. Amazon profits climbed more than 40%, to $724m (£560.8m). It was its eighth quarter in a […]


Brexit not deterring Asian investors from UK property market

Investing in property is a mainstay of most Asian portfolios and the UK has typically been among the most desirable of destinations. Recent data suggests that despite the uncertainty created by Brexit and the upcoming general election, Asian investors are flocking to the UK’s shores more than ever before. Research from property investment firm JLL […]


Eurozone inflation picks up to 1.9%

Inflation in the eurozone accelerated in April, returning to the European Central Bank (ECB)’s target. Initial estimates from Eurostat showed inflation in the bloc hit 1.9%. That was up from 1.5% in March, but just below February’s four-year high of 2%. The ECB aims for an inflation rate of below, but close to, 2%. On […]


Barclays profits more than double

Barclays says its profits more than doubled in the first three months of the year, boosted by better performance across the board. Pre-tax profit for the first quarter was £1.682bn, up from £793m for the same period last year. Chief executive Jes Staley said it had been “another quarter of strong progress towards the completion […]


M&S online food delivery service will be no piece of cake

Couch potatoes everywhere are licking their lips as two High Street giants prepare to enter the crowded market of online food orders for home delivery. Middle-class shoppers could soon find it easier to order high-end treats from home as Marks and Spencer prepares a trial online grocery service. Humbler tastes are catered for too, as […]


RBS reports first quarter profit as turnaround continues

Troubled Royal Bank of Scotland has reported its first quarterly profit since the third quarter of 2015. Shares in the bank opened up almost 4% after it posted profits of £259m in the first three months of 2017, compared with a £968m loss a year earlier. After stripping out restructuring costs, the core operating business […]


UK economy grows by 0.3% as service sector slows

The UK economy grew by just 0.3% at the start of the year, the slowest growth rate since the first three months of 2016, according to official figures. The Office for National Statistics said that the slower pace in the January-to-March period was due mainly to the service sector, which sank to 0.3% growth against […]


Pound hits seven-month dollar high

April 27, 2017

The pound hit a seven-month high against the dollar, pushing above the $1.29 mark, but shares fell. Sterling hit $1.2917 at one point before falling back slightly. Analysts said the rise was partly due to polls putting Prime Minister Theresa May well ahead of the opposition. The dollar also suffered from some disappointment over the […]


United Airlines to offer up to $10,000 for forfeiting seat

United Airlines says it will offer up to $10,000 (£7,800) to passengers who give up seats on overbooked flights. The change comes as part of a review following an inquiry set up after a man was dragged screaming from a fully booked plane early this month. Dr David Dao lost two front teeth and suffered […]


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