No-deal Brexit could hit UK banks’ earnings by 25 per cent, says Citigroup
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Manufacturers’ pains soften despite ‘Brexit millstone’ hampering firms
Britains manufacturing headaches softened slightly over the last three months, with output stabilising despite “relentless Brexit uncertainty” continuing to weigh heavy on the industry. Manufacturers reported output fell less sharply over the three months to August, according to the CBIs monthly industrial trends survey, meaning the industry is still in decline but the rate of that decline has slowed. Over the period, 24 per cent of the 286 businesses surveyed reported rising output, while 27 per cent said it was down, giving a minus three per cent balance. Respondents expected output levels to remain unchanged over the next three months. Chair of CBI Manufacturing Council and Ineos director Tom Crotty said: “Relentless Brexit uncertainty has continued to be a millstone around the neck of manufacturing firms as we approach the end of the summer.” Manufacturers expect to keep output prices in the next three months broadly unchanged – the lowest balance since February 2016. Double..
City Moves for 15 August – Who’s switching jobs?
Todays City Moves includes Moss Bross, Mullenlowe Group and Quinn Emanuel. Moss Bros Mens tailoring giant Moss Bros has appointed Avis Darzins (pictured) as a non-executive director, effective 1 September 2019. Moss Bros has announced also that Maurice Helfgott, in line with good corporate governance following nine years service, will no longer be senior independent non-executive director from 1 October 2019, when the role will be handed over to non-executive director Alex Gersh. Maurice will stay on the board until the annual general meeting in May 2020. Avis joins from Accenture, where she was for eight years as a partner focusing on the retail and consumer products sector. She delivered successful engagement with many well-known national and international brands such as Gap, where she delivered the infrastructure to enable it to launch its Banana Republic brand on to the UK high street. While also at Accenture she led numerous projects for Sainsburys, including shaping and leadin..
City Moves for 13 August – Who’s switching jobs?
Todays City Moves includes Circassia, Bank of America Merrill Lynch and RPMI. Circassia Dr Rod Hafner, senior vice president of research and development at Circassia Pharmaceuticals, a specialty biopharmaceutical company focused on respiratory disease, will step down from the board after 11 years as a director. However, Rod will remain part of the senior management team and will continue in his role leading its business development, supply chain, medical affairs, regulatory and quality activities. Meanwhile, Jonathan Emms has been appointed to the newly-created role of chief operating officer (COO). Prior to joining, Jonathan was chief commercial officer for Pfizers internal medicines organisation, where he led commercial activities across the companys global operations. Previously, he held a number of senior posts at Pfizer, and oversaw the UK launch of Spiriva under the companys co-promotion agreement with Boehringer Ingelheim. Bank of America Merrill Lynch Bank of America Merril..
