HSBC boss Stuart Gulliver says jobs will be moving out of London to Paris

We’ve already heard a lot about HSBC’s plans to move jobs to France if Brexit negotiations don’t go as the bank hopes.But yesterday Stuart Gulliver, the lender’s chief executive, confirmed it is looking at moving jobs accounting for a hefty chunk of its revenues across the Channel. Wednesday 18 January 2017 11:44 am whatsapp HSBC boss Stuart Gulliver says jobs will be moving out of London to Paris Share In an interview with Bloomberg at Davos, Gulliver said EU-based activities will move. “Activities specifically covered by EU legislation will move, and looking at our own numbers, that’s about 20 per cent of revenue,” he said – although he added that HSBC will make a decision “quite slowly”.And, speaking to Reuters today, the chief exec remarked: “We will move in about two years time when Brexit becomes effective.”However, he was more optimistic on London’s post-Brexit fate as a financial centre.“Irrespective of Brexit, London will remain a global financial centre, and the revenue impact of Brexit on financial services will be made good in two to three years’ time,” he said to Bloomberg.1,000 jobs Emma Haslett Last week HSBC chairman Douglas Flint told MPs the bank was considering moving 1,000 investment banking jobs to Paris before the end of the Article 50 process if it looked like the deal being negotiated could damage its current business.It’s not the first time HSBC has made such a suggestion – as far back as February last year the lender, which is one of the world’s most global banks, said Brexit would have a “significant impact on our non-ringfenced bank”, and added that “a number of jobs would leave the UK”. Flight of the bankersGulliver wasn’t the only one seriously mulling over moving jobs. In another interview at Davos, Andrea Orcel, the president of UBS Investment Bank, suggested it is also considering whether or not to move employees out of London.”It will very much depend on the agreement that the UK will reach with the EU,” Orcel said.”But, yes, we will have to move bankers.”Video: Bloomberg Television whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoHealthyGemBaby Has Never Eaten Sugar Or Carbs, Wait Till You See Her TodayHealthyGemUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsUndoPensAndPatronTori Roloff Confirms Devastating News About The FamilyPensAndPatronUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity WeekUndo read more

Britain’s investors have a responsibility to help close society’s divides

Of course, attendees have also been busy digesting the implications of the UK’s decision to leave the European Union and of Donald Trump’s unlikely victory in the US presidential elections, as well as the ongoing dislocation in traditional political and social structures that helped produce these two unexpected outcomes.While a lot of the discussion has taken place informally in the bars and restaurants of Davos, I was drawn towards some of the topics on the official programme, from the future of innovation and sustainable development, to childhood education, artificial intelligence and how to land monetary policy safely.One of the over-arching themes of Davos this year is the “responsive leadership” necessary to grapple with these fundamental issues. Every business delegate needs to head home today with a clearer sense of how they plan to integrate this “call to arms” into their day job to improve company performance.Read more: Davos should look to UK fintech to see responsive leadership in actionI believe that the asset management industry is key to delivering responsive leadership and needs to rise to the challenge. Friday 20 January 2017 4:59 am Share I feel a touch fortunate that my Davos debut has come during such a fascinating period of change. The World Economic Forum’s annual gathering in Switzerland, which ends today, has long opined on the state of political, social and economic affairs. Discussions this week have seemed to possess an elevated sense of urgency.At the macro level, global growth has to be re-invigorated, with the wealth created distributed more evenly. Meanwhile, rampant technological innovation is impacting everyone and the onus is on leaders to ensure that the power of this “fourth industrial revolution” is managed for societal gain. The UK industry alone has £5.7 trillion in assets under management. So there is much my own sector can do to help close the divides that exist.Fundamentally, we are in the business of looking after other people’s hard-earned money – a responsibility that we take very seriously. We need to manage it shrewdly and treat our customers fairly.Much of what we manage is invested in bonds and shares issued by companies. If company management do not treat their stakeholders fairly, from employees and customers, through to suppliers and shareholders, we need to make sure that they know we won’t stand for it. It is in the long-term interests of both companies and investors that good governance is promoted as it contributes to long-term performance.Read more: Why purpose is key to success in twenty-first century businessLong-term institutional investors like us can also use their patient capital to help to fund the infrastructure improvements needed to improve the quality of opportunity for all citizens. At the other end of the age spectrum, asset managers need to look at ways to encourage young people to save. Those entering the labour market today cannot be certain to receive a state pension when they retire, given government finances.The onus is on them to accrue the funds required for their retirement. This at a time when wage growth is muted, university loans need to be repaid and the size of the deposit required for mortgages is ever increasing.We need to respond to this challenge by offering clients fit-for-purpose and value-for-money investment vehicles for both the pre and post retirement markets. At the same time, we need to work with government and employers to help provide the personal finance education that is so desperately needed.Only by working with all of our stakeholders can we help provide the responsive and responsible leadership that is required. whatsapp The government’s forthcoming white paper on housing is an opportunity to help foster long-term, institutional investment in the UK’s residential rental market. It is long overdue. We have committed to invest £500m in the sector but there is plenty more willing capital waiting in the wings.Perhaps the biggest challenge for asset managers though is how we can help to address the demographic and savings crisis. Many parts of the world are facing the prospect of an ageing population. The European Commission’s Ageing Report in 2015 forecast that the ratio of workers to pensioners on the continent will fall by half over the next 45 years, from four workers to one pensioner to two workers to one pensioner.Read more: Britain’s government debt nightmare makes NHS reform even more urgentIn the UK, one in three babies born today are projected to reach their hundredth birthday. People aged 85-plus represent the fastest growing segment of the UK population.Asset managers need to help savers sweat their pension pots in retirement, so they receive a regular income but also have sufficient funds available to pay for healthcare and nursing home fees. whatsapp Campbell Fleming Britain’s investors have a responsibility to help close society’s divides More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com read more

UK firms warned trade with more than 40 non-EU locations will be disrupted post-Brexit, as current trade deals depend on EU membership

Norway Russia San Marino Serbia Read more: Is it the EU that’s unprepared for the implications of Brexit? Madagascar, Mauritius, the Seychelles and Zimbabwe Morocco South Africa Tunisia A new relationship with the EU is potentially only two years down the track, so it is critical that businesses – of every size, sector and region – know, understand and feel comfortable navigating information and data about trading globally in order to make informed decisions for their futures. UK firms are today being warned they might want to look further afield than the EU for areas where trade could be interrupted. The UK’s current trade arrangements with over 40 locations, including South Korea, Switzerland and Mexico, are in place because of the country’s EU membership, warns a report by law firm Clifford Chance and the Confederation of British Industry (CBI). Share Iraq Jordan Kazakhstan Lebanon AMERICAS “The changes to come won’t just affect big UK businesses that export to the EU or through EU trade deals,” cautioned Jessica Gladstone, an international law and trade partner at Clifford Chance. “For example, any UK or EU27 manufacturer that is part of a complex EU supply chain could be at risk because of the way FTAs work.”This is just one of many issues that could trip businesses up if they aren’t prepared.”Josh Hardie, CBI deputy director-general, added: whatsapp Algeria Cameroon Egypt Ivory Coast Switzerland The former Yugoslav Republic of Macedonia Turkey Ukraine whatsapp Mexico Armenia Azerbaijan Georgia Israel ASIA AND THE MIDDLE EAST Iceland Kosovo Moldova Montenegro AFRICA The EU, and countries which have EU trade deals, make up 85 per cent of the UK’s current trade.Theresa May had much to say about trade in her landmark Brexit speech last month. The Prime Minister promised a “a bolder embrace of free trade” for the UK outside the EU.However, May also warned EU members who didn’t want to play ball at the negotiating table that she was willing to fall back onto WTO rules, adding: “No deal for Britain is better than a bad deal for Britain.” Here’s the full list of areas with current EU trade treaties identified in the Clifford Chance report: EUROPEAN COUNTRIES Albania Andorra Bosnia and Herzegovina Faroe Islands Hayley Kirton CARIFORUM States Central America Chile Columbia and Peru Palestinian Authority South Korea Syria For example, the UK at present trades with South Korea through the EU-South Korea Free Trade Agreement (FTA). Any businesses relying on this agreement could find themselves in hot water post-Brexit until an equivalent UK-South Korea deal is put in place.Read more: Lord mayor is the latest to lead a Chinese trade missionThe EU is also in the process of negotiating or finalising about 30 further trade treaties, including ones with China and Japan, as well as the EU-Canada Comprehensive Economic and Trade Agreement, or CETA. The UK will not be able to benefit from these once it is no longer an EU member.The EU and the US have also gone through 15 rounds of negotiations for the Transatlantic Trade and Investment Partnership. However, it is not clear how quickly this particular deal will progress now that President Donald Trump, who has already pulled the US’ involvement from the Trans-Pacific Partnership, is in the White House.Read more: Labour shortages start to bite in UK sectors employing many EU nationals UK firms warned trade with more than 40 non-EU locations will be disrupted post-Brexit, as current trade deals depend on EU membership Monday 13 February 2017 4:50 pm read more

Campbell’s Soup to sell off divisions as activist investor calls for sale

by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.commoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutTotal PastThis Woman’s Obituary Was So Harsh, Her Son Was Left ReelingTotal PastBetterBe20 Stunning Female AthletesBetterBeAuto InquirerA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedAuto Inquirer Alys Key Thursday 30 August 2018 3:36 pm Campbell’s Soup said today that it will sell two of its divisions as it faces pressure from investors to put the whole business up for sale.The food company, which was made iconic by Andy Warhol’s paintings of its tomato soup, plans to flog its international business as well as its fresh refrigerated foods unit. Share The global business includes brands such as Kettle Chips and Royal Dansk biscuit maker Kelsen, while the fresh foods unit is comprised of, among other products, Campbell’s refrigerated soup.Today’s announcement comes off the back of pressure from activist investor Dan Loeb. His hedge fund Third Point has been pushing for a sale of the company since it unveiled a 5.65 per cent stake earlier this month.Although Campbell’s said it had considered a sale of the entire business, chief executive Keith McLoughlin said that the current aim was the best path to shareholder value.“Our plan will build upon our existing strengths,” he said. “Our new leadership team will concentrate on significantly improving operational discipline through a rigorous management model that aligns the enterprise from strategy through execution.”But a full sale remains on the table as one of the strategic options open to the company.Read more: Activists at odds over RBS claims Campbell’s Soup to sell off divisions as activist investor calls for sale whatsapp Read This NextFox News’ Laura Ingraham Suggests Defunding the US Military Over CriticalThe WrapSmoking and Hair Loss: Are They Connected?VegamourTeammates, NFL execs expect Aaron Rodgers to do this in 2021SportsnautMore People Now Use YouTube Than Facebook or Instagram – What Happened?The WrapIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamour’The Harder They Fall’ Trailer: Jonathan Majors Seeks Revenge on Idris ElbaThe WrapWhat Causes Hair Loss? Every Trigger ExplainedVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamour’The Blacklist’ Fans Are Not Happy They Didn’t Find Out What Was in ThatThe Wrap whatsapp read more

Davis set to savage Chequers as May awaits EU verdict on key proposals

first_img Share Owen Bennett She told the 27 EU leaders to abandon their Irish backstop proposal – which would see Northern Ireland operate a different customs policy to the rest of the UK.“The Commission’s proposal for this protocol – that I should assent to a legal separation of the United Kingdom into two customs territories – is not credible,” said May.Read more: Theresa May rejects Michel Barnier’s Irish border planHer comments came on a day when both sides seemed to further entrench their negotiating positions, with May writing an article in Die Welt which called on the EU to stop demanding “the unacceptable” on the Irish border backstop – in what appeared to be a direct appeal to German Chancellor Angela Merkel.But Brussels seemed to be unmoved by the plea, with European Council president Donald Tusk insisting the UK’s position on the Irish border needs to be “reworked and further negotiated”. EU leaders have gathered in Salzburg (Source: Getty)Under the EU’s plans, Northern Ireland would effectively stay part of the Single Market and customs union if no trade deal is reached between the UK and Brussels by March 2019.The EU’s chief negotiator, Michel Barnier, has been seeking to “de-dramatise” the row, saying he was “ready to improve” his offer by conceding that customs checks could take place in factories and forecourts away from the British border.However, an ally of May has dismissed this proposal, saying: “There is nothing new here.”The UK’s version of the backstop would use technology to monitor goods moving over the Ireland/UK border without the need for checkpoints or new infrastructure. EU leaders are set to gather without May to discuss the UK’s negotiating plan – dubbed the Chequers agreement – over lunch in Salzburg today.Tusk will then meet May to deliver the verdict on the proposal, which seeks to keep the UK tied to EU rules on goods but not services. The meeting is scheduled to take place just hours after a planned attack on the Chequers agreement by May’s former Brexit secretary, David Davis.At a speech in Munich, Davis is due to brand the plan as “devoid of democracy” and a “non-starter”. Davis quit the government in July in protest at May’s negotiating stance. City A.M. revealed earlier this month he is set to unveil his own Brexit trade plan in the upcoming weeks.In his speech, Davis is expected to say: “At Lancaster and Mansion House, the Prime Minister promised to return control over our law, our money and our borders. These promises were in our manifesto too. But the Chequers plan crosses on all of those red lines. The EU is often correctly described as having a democratic deficit. But Chequers is devoid of democracy altogether.”The political stalemate came as the Bank of England’s chief economist Andy Haldane used a speech in Estonia to warn that “a key theme among companies over recent quarters has been uncertainty surrounding Brexit”. Davis set to savage Chequers as May awaits EU verdict on key proposals An emergency Brexit summit was planned for mid-November as fears grew that an agreement would not be reached by the next get-together of EU leaders in Brussels on 18 October.Speaking on LBC radio last night, Brexit secretary Dominic Raab piled pressure on European leaders with time for a deal running out.Read more: David Davis: Theresa May’s Chequers plan is undemocratic“Now is the moment when the EU needs to shift, I think they understand that,” he said.Raab insisted the UK would be leaving the EU on 29 March 2019 whether a deal was reached or not, and also revealed that while the Cabinet had discussed the possibility of extending the Article 50 negotiation process, it had been dismissed by ministers. whatsapp whatsapp Thursday 20 September 2018 12:28 am Theresa May last night urged EU leaders to stop trying to break up the UK as she warned there were just two months left to strike a Brexit deal.Speaking directly to her counterparts at a dinner in Salzburg last night, the Prime Minister made it clear that if an agreement were not reached by the end of a special Brexit summit pencilled in for mid-November, the UK would not seek to extend the negotiations. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoBetterBe20 Stunning Female AthletesBetterBeUndoWTFactsHe Used To Be Handsome In 81s Now It’s Hard To Look At HimWTFactsUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndolast_img read more

Theresa May rows back from Brexit transition extension after Tory backlash

first_imgThursday 18 October 2018 7:42 pm More From Our Partners Kansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com In his own remarks to the press, European Council president Donald Tusk revealed EU leaders had not actually discussed a longer transition period after May brought up the idea.“I am sure the leaders would be ready to consider it positively,” he added.EU leaders decided on Wednesday not to give the go-ahead for a special Brexit summit to be held in November, as sufficient progress has not been made over the Irish backstop issue.Despite the stalemate, Tusk tried to sound upbeat in his press conference – a contrast to his remarks at the close of a summit in Salzburg last month when said May’s plan for a post-Brexit trade deal with the EU would not work.“We are in a much better mood than after Salzburg,” said Tusk, adding that his optimism was “maybe more emotional” than “rational”. Speaking in Brussels, the PM claimed keeping the UK signed up to EU rules for a further year was not her idea – but could indeed be a solution to the Irish backstop issue.Her comments came less than 24 hours after she had told her EU counterparts an extension to the transition period past December 2020 was an option to secure a post-Brexit trade deal.The suggestion provoked anger from many Tory MPs, with veteran eurosceptic Bill Cash dubbing it “unthinkable”, while former Remain campaigner Nick Boles branded it “madness”.Extending the transition period would see the UK continuing to pay billions into the EU budget and following Brussels’s rules on trade, free movement and regulation.However, the UK would have no voice in the European Parliament and no formal position in other EU institutions. Speaking at the conclusion of the latest EU summit, May tried to dampen the row, but also admitted extending the transition period was under consideration.She said: “I’ve always been very clear that we negotiated an implementation period with the EU and we negotiated that that implementation period would end at the end of December 2020.“What has now emerged is the idea that an option to extend the implementation period could be a further solution to this issue of backstop in Northern Ireland.“What we are not doing, we are not standing her proposing an extension to the implementation period.”German Chancellor Angela Merkel used a post-summit press conference to suggest an extra period of transition would not be needed once a “political solution” to the impasse was found. Tags: Brexit Donald Tusk People Theresa May Theresa May rows back from Brexit transition extension after Tory backlash Share whatsapp Theresa May has tried to downplay anger over a plan to extend the UK’s post-Brexit transition period, just hours after flagging the idea to EU leaders. Owen Bennett whatsapplast_img read more

The Shard relaunches Western Europe’s highest light show

first_img Tags: Trading Archive whatsapp Share whatsapp The Shard’s Christmas lights are back with a bang this evening, transforming the top 20 storeys of the skyscraper into a festive light show.This year’s Shard Lights display sees London’s tallest building host a colourful 30-minute show running every half an hour from 4pm to 1am. The Shard relaunches Western Europe’s highest light show The display uses over 8,000m of cable, equivalent to the length of 956 double-decker buses.center_img James Warrington The light show is based on the theme of ‘reflection’ and and mirrors the sky’s changing colours, from golden sunrises to the dark blue of the night sky.The display, which is the highest in Western Europe, will run throughout December, culminating in a special New Year’s Eve celebration at midnight.Michael Baker, chief executive of Real Estate Management (REM), which manages the Shard, said: “The festive season is always a highlight of the year for the capital, and as a beacon for modern London, we wanted to do something special to mark this period.“As Western Europe’s highest light show, we encourage Londoners and visitors to the city to look up and admire the night sky.”More than 4,000 hours of work were needed to commission, install and test the lights on the building. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Monday 3 December 2018 9:23 pmlast_img read more

Holiday experiences help travel operator Tui weather the heatwave storm

first_img“This enables us to clearly differentiate ourselves from the competition. With more than 20 million customers, use of state-of-the-art IT and intelligent customer systems, we have considerable potential for new business, turnover and earnings.“We will continue our successful transformation: The next step will transform Tui into a digital and platform organisation.” The positive sales growth was largely driven by strong performances in the group’s holiday experiences division. Tui said its hotel and cruise offerings account for roughly 70 per cent of earnings.This outweighed disappointing results in its markets and airlines division, which the company said was due to prolonged hot weather in Europe over the summer and significant levels of airline disruption.The results come after rival tour operator Thomas Cook reported a loss for the year as the heatwave and strikes took their toll.But Tui, which was formed in 2014 after a merger between British Tui Travel and its German parent company Tui AG, has a more diversified benefited from a more diversified offering.The company said it expects to deliver “superior annual earnings growth” of at least 10 per cent for the next financial year. Thursday 13 December 2018 9:03 am Holiday experiences help travel operator Tui weather the heatwave storm Travel operator Tui has reported double-digit sales growth for the full year, as strong performance in hotels and cruises outweighed the impact of the summer heatwave and airline strikes.The figuresReported core earnings rose 10.9 per cent from €1.10bn (£990m) to €1.14bn. Revenues were up five per cent to €19.52bn.Profit before tax fell to €972m from €1.08bn in 2017.The company saw financial debt rise 26.4 per cent to €2.44bn.Dividend per share increased 10.9 per cent to €0.72.Why it’s interestingTui’s results come after a tough summer for travel operators, who have had to contend with high temperatures and airline strikes. Tui said it had delivered “strong performance in a challenging market environment”. whatsapp whatsapp David Madden, market analyst at CMC Markets UK, said: “The travel sector across the board has had a difficult time as the unusually warm weather encouraged prospective holiday makers to stay at home.“Given what has gone on in the travel sector lately, it was an impressive performance from Tui.”Shares in Tui rose more than four per cent this morning.What Tui saidChief executive Fritz Joussen said: “We are investing, we are growing with Tui’s high-margin products and services and our businesses are increasingly scaling.“Today, our own holiday experiences content account for more than 70 per cent of our earnings: hotels, cruises, excursions and destination activities. James Warrington by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth PostTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveCrowdy FanKaley Cuoco Net Worth Left Her Billionaire Husband SpeechlessCrowdy FanMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteabley More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Share Tags: Company TUI AGlast_img read more

Household debt hits record high, above pre-crisis levels, top union warns

first_imgThe union also called for a national investment bank to be established to target communities in need of better-paid work.“Our economy is not working for workers. They need stronger rights and bargaining powers. Trade unions should be allowed the freedom to enter every workplace to negotiate higher wages,” O’Grady said.Britain’s nearly 28m households held £428bn in unsecured debt in the third quarter of last year, with a debt to income ratio of 30.4 per cent, the TUC said. whatsapp August Graham whatsapp Monday 7 January 2019 9:00 am Tags: Trading Archivecenter_img Share The number also represents a rise of 40 per cent since 2014 when debt started rising steeply again following the downturn.Loans now account for over 30 per cent of household incomes for the first time ever.“Household debt is at crisis level. Years of austerity and wage stagnation has pushed millions of families deep into the red,” TUC general secretary Frances O’Grady said.“The government is skating on thin ice by relying on household debt to drive growth. A strong economy needs people spending wages, not credit cards and loans.” O’Grady asked the government to jack up the minimum wage to £10 and increase pay for public sector workers. Household debt hits record high, above pre-crisis levels, top union warns More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org The government is on thin ice if it expects household debt to help drive growth, a top trade union has warned, as data shows that Brits are more in debt than ever.Unsecured debt reached £15,385 per household in the third quarter of 2018, a 38 per cent increase since the before the financial crisis in 2008, figures from the Trade Union Congress show.last_img read more

Airbus claims US trade sanctions on its aircraft are excessive

first_img Read more: Airbus shares soar after landing mammoth Chinese orderIt said the proposed move would be in retaliation for EU subsidies to Airbus, which the World Trade Organisation (WTO) has found to have caused adverse effects to the United States.Airbus shares fell 1.5 per cent this morning on the news.The US estimates the harm from the EU subsidies to be $11bn per year, and said it is retaliating accordingly. But the amount is currently subject to an arbitration at the WTO which is expected to deliver a verdict in the summer.Airbus spokesperson Rainer Ohler this morning said the plane maker had moved to comply with the “relatively” minor outstanding requirements, adding the $11bn figure touted by Washington was over-the-top. whatsapp He said: “The amount is largely exaggerated and in any case will be defined by the WTO and not the US.”He added that a WTO ruling last week that Airbus’ arch rival Boeing has received tax breaks from the US side gives the EU cause to look for “even greater countermeasures”.The ruling showed “no willingness at all on the Boeing side to comply and confirms they are clearly in contravention with WTO rules,” he said.Read more: Airbus only wins four aircraft orders in first two months of 2019The dispute over subsidies from both sides has been raging for 14 years.US Trade Representative Robert Lighthizer said: “The time has come for action. The administration is preparing to respond immediately when the WTO issues its finding on the value of US countermeasures.” whatsapp Airbus claims US trade sanctions on its aircraft are excessive Tags: Trading Archive Alex Daniel Share Tuesday 9 April 2019 12:42 pm Airbus has hit back against a move by the United States to impose trade sanctions on its aircraft which pushed the manufacturers shares down this morning.The US Trade Representative’s office has said it is considering slapping tariffs on $11bn (£8.4bn) worth of goods from the European Union, including Airbus planes. last_img read more