Cobham profit warning, property funds hunt in Europe: Today's City headlines

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Scandal-hit Cobham was torpedoed by another shock profit warning on Monday after bosses talked down the company’s fortunes for the rest of the year.

Shares in TV companies got a boost on Monday as traders speculated on takeover activity in the wake of AT&T’s £70 billion deal to buy Time Warner.

Revenues at spread-better Plus500 slipped in the third quarter as nervous new punters wagered less cash.

Petra Diamonds vowed to tighten up its health and safety as it revealed a string of gruesome deaths in its mines.

British businesses have held their nerve so far since Brexit with corporate levels of “significant” financial distress falling by 6% over the past three months.

The strife in the global shipping trade grew on Monday when South Korea’s Hanjin said it would close its European arms.

Market report: Fears that the “dash-for-cash” scandal could cost Royal Bank of Scotland £500 million this year alone caused investors on Monday to offload the bank’s shares in a dash to protect their own cash.

UK property investors are on the hunt for buildings in European cities to capitalise on demand for offices from the banking fallout from Brexit, it has emerged.

Shares in French Connection jumped 15% on Monday amid reports that private-equity firms are considering bids for the struggling fashion chain.

Equinox is limbering up for London expansion four years after it first opened in the capital, the high-end American fitness chain beloved of celebrities has revealed.

It is not only the granddaughters of the late porn magnate Paul Raymond who are making a killing from property: his son’s West End real estate business on Monday revealed a 15% profit jump

Comment

Jim Armitage looks at why property funds are bidding to buy offices in Europe.

Hamish McRae discusses why the Government will need its best and brightest negotiators in the years ahead.

Entrepreneurs

Alex Lawson meets the start-up giving green light to the world to convert food waste into energy.

Source Article from http://www.standard.co.uk/business/cobham-posts-profit-warning-property-funds-hunt-in-europe-today-s-city-headlines-a3377426.html

October 24, 2016 |
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