BT’s pension plagues profits; Shell rides oil recovery
BT’s bottom line continued to be impacted by rising pension costs during the first half of the year, as Shell’s figures were boosted by higher crude oil prices.
Companies
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Old Mutual sells majority stake in Nedbank
Old Mutual will reduce its 54% stake in South African lender Nedbank to 19.9% as part of its ongoing plans to restructure and separate its business.
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More pain for Next as shares topple 8%
Shares in Next slumped close to 8% after the high street fashion retailer admitted its sales performance was “extremely volatile” thanks to unpredictable weather.
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Thesis takes over DFM as ‘expansive attitude’ takes hold
Thesis Asset Management has kicked off its growth plans with the acquisition of discretionary investment firm, Cambridge Fund Managers.
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FTSE 100 lifts off as BP profits surge
After slipping last week to a low-point of 7,447, the FTSE 100 has risen again, driven by a flurry of strong third quarter updates.
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HSBC’s profits leap as Asia drives 70% of growth
HSBC’s profits in the third quarter were some $4.3bn higher than the previous year, largely thanks to its renewed focus on Asia.
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RBS braces for 10th full year without profit
RBS hit another milestone on its road to recovery, posting a third consecutive quarter of profits but analysts suspect it has further to go before it is back in the black for the full year.
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Coram scraps European junk bonds
Coram Asset Management has left its position in European high-yield bonds in favour of the US where it said bonds are better quality and offer stronger returns.
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SJP freshens up investment approach
St James’s Place has brought in managers from Schroders and Select Equity Group to run funds amid a raft of changes to its investment offering coming into force in November.
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IA presses 100 UK firms to tackle shareholder concerns
The Investment Association has pressed 100 UK companies for more information on the steps they are taking to alleviate shareholder concerns.
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Barclays ditches bad bank but Q3 profits fall short
Barclays’ first trading update since ditching its troubled non-core unit was a let-down as its trading arm proved a drag on profits.
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Old Mutual Wealth cashflow up 92%
Strong cashflows and solid performance saw Old Mutual Wealth’s (OMW) funds under management rise 14% in the year to date, with its net cashflow soaring 92% higher than during the same period in 2016.
