BHS, sweet Tate & Lyle and overdraft clampdowns: Today's City headlines

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The UK’s dominant services firms bucked the biggest leap in inflation for at least 20 years to deliver a growth spurt last month, figures showed on Thursday.

The City watchdog is launching a clampdown on the multi-billion-pound overdraft market.

Marks & Spencer’s Chinese stores will be on the chopping block next week when chief executive Steve Rowe sets out his plans to turn the struggling retailer around.

The chairman of the Business Select Committee on Thursday welcomed the Pensions Regulator’s demands on Sir Philip Green, as he estimated BHS’s pension deficit has ballooned.

The amount Sir Philip Green has offered to plug a gap in BHS pension scheme, is around £100 million less than the pensions watchdog is seeking.The retail tycoon has offered £250 million but the Pensions Regulator wants £350 million according to the BBC.

Shares in Tate & Lyle sprung up 7% earlier after the sweeteners maker upped its profit forecast.

Morrisons may have hiked the price of Marmite, but boss David Potts said today the supermarket was not backing off from the fierce industry price war.

Facebook was hit by some vicious defriending overnight as its shares sunk 8% because the social network warned revenue growth could slow next year.

Taylor Swift and Gigi Hadid are sporting Adidas Superstar and Stan Smith trainers and the German sports brand is back in vogue.

RSA chief executive Stephen Hester has waded into the debate over insurance customer privacy.

Shares in drugmaker Shire returned to rude health today as concerns eased about rising competition for its haemophilia business.

Entrepreneurs

John-Paul Savant discusses his role as boss of ATG Media, including meeting the 600 auctioneers who use his online tech platform.

Comment

Jim Armitage discusses Sir Philip Green and the BHS pension deficit.

Anthony Hilton says one of the things that has been overlooked in the recent struggle to defenestrate the Governor of the Bank of England, is what a premature departure might mean for the Bank’s culture. 

Russell Lynch believes an insane pensions bonanza is a luxury we just cannot afford.

Source Article from http://www.standard.co.uk/business/bhs-sweet-tate-lyle-and-overdraft-clampdowns-todays-city-headlines-a3386536.html

November 4, 2016 |
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