Britain Financial News

Vodafone said Tuesday that it sank into a first-half loss and revenue dipped after one-off gains from asset sales were not repeated as it undergoes a vast overhaul. Net losses totalled 346 million euros ($370 million) in the six months to the end of September, Vodafone said in a results statement. That compared with profit after tax of 945 million euros in the same period a year earlier. Revenues fell 4.3 percent to 21.9 billion euros, hit by adverse foreign exchange rate moves as well as the sale of Vantage Towers, Vodafone Hungary and Vodafone Ghana last time around. But services revenue grew 4.2 percent to 18.6 billion euros. Vodafone added that its transformation plan was «progressing», two weeks after it announced the sale of its Spanish division to investment fund Zegona for up to 5.0 billion euros. In a further streamlining, Vodafone in June agreed to merge British operations with Three UK, owned by Hong Kong-based CK Hutchison, to create Britain's biggest operator with 27 million customers, as it targets an acceleration in faster 5G connectivity. «During the first half of the year, we have delivered improved revenue growth in nearly all of our markets and have returned to growth in Germany in the second quarter,» said chief executive Margherita Della Valle. «Vodafone's transformation is progressing.

In its analysis of the data ING Group said the UK is on the right path to see interest rates fall from next summer.

Dominic Johnson (pictured), minister for investment

The boards of both trusts have noted the increased scale of the renamed vehicle, which is expected to hold net assets in excess of £430m.

By William Schomberg and David Milliken

Investing.com — The U.S. dollar traded largely unchanged in early European trade Tuesday ahead of the latest inflation data that could determine the path of U.S. monetary policy, while sterling gained as U.K. workers continued to receive healthy wage increases. 

PRS Oberoi, chairman emeritus of The Oberoi Group, passed away on Tuesday. He was 94. Under his leadership, the hospitality chain set new benchmarks for luxury and attention to detail, and he oversaw the opening of several iconic luxury hotels in India and overseas.

Fnality International, a company specializing in tokenized cash solutions on blockchain, has secured a substantial investment of $95.2 million, according to Bloomberg.

GoCardless, the British fintech company backed by Alphabet's venture capital fund GV, is considering more mergers and acquisitions as it looks to grow market share in the highly competitive online payments space.

United Kingdom Prime Minister Rishi Sunak reshuffled his cabinet Monday, and Britons can be forgiven if they don’t learn his new ministers’ names. They might not be around long. Changing ministers at this late date is unlikely to change the bleak Tory prospects in an election expected next year.

Oberoi Group passed away this morning, November 14, Tuesday, said a spokeswoman of the Oberoi Group. In an official statement, the company said, “It is with profound grief and sorrow that we wish to inform you of the peaceful passing of our beloved leader, Mr. P.R.S.

yen was stuck near a three-decade low against the dollar on Tuesday, struggling to find a floor as the Bank of Japan's (BOJ) ultra-easy monetary policy settings remained at odds with the prospect of higher-for-longer rates elsewhere. The Japanese currency similarly slumped to a 15-year low of 162.38 per euro in early Asia trade and slid to a roughly three-month trough of 186.25 per British pound. Against the dollar, the yen last stood at 151.72, languishing near a one-year low of 151.92 hit on Monday.

real estate investors in the Dubai property market, playing a pivotal role in shaping the city's real estate market. The Betterhomes Residential Market Report showed Indians topping the nationalities list in the June and September quarters — up from No.

deepfakes as they cannot thwart their creation and original circulation, experts said, urging policymakers to step in to address the damage they cause. “Criminal provisions under the IT Act and the IPC only partially address the harms which arise from deep fakes,” said Siddharth Deb, manager – public policy, TQH Consulting. “Policymakers must identify interventions that address this and reduce the psychological impact on victims.”

Lloyds Bank, a big four bank in the United Kingdom, reports that crypto scams have risen 23% compared to the same period last year.

Canadian companies are painting a stark picture of a consumer who’s pulling back on spending, as rising debt payments and inflation force households to change their behaviour.

Shakhista Mukhamedova (pictured), is the current head of fixed income and alternatives and will become head of fund research.

Fitch highlighted that traditional and alternative investment managers face different challenges in the year ahead, particularly as growth continues to tighten.

Laura Trott Image: parliament.uk (CC BY 3.0)

S Jaishankar, who is on a five-day official visit to the United Kingdom to give “new impetus to the friendly ties", Monday said India and Britain are currently focusing on a free trade agreement (FTA) and hoped that both the countries would find a "landing point" workable for both of them. The Indian foreign minister said the Agenda 2030 put greater emphasis on connectivity, trade, and working together when it comes to defence and security, health and all climate change. "We are focusing on what is officially called an enhanced trade partnership.

King Charles's 75th birthday celebrations, a Royal Family expert has suggested that the monarch is reportedly «relieved» by the absence of Prince Harry and Meghan Markle. According to royal commentator Neal Sean, the Royal Family seems unfazed by the Duke and Duchess of Sussex's decision to skip the festivities. King Charles kicked off his birthday festivities by joining other 75-year-olds in a tea dance organized by The Prince's Trust at Highgrove, one of the monarch's residences.