Friday 13 October 2017

Company news, markets and financial talking points, available from 8am Monday to Friday

FTSE 100 hits record high but pound falls

The FTSE 100 index closed at a record high last night, climbing 0.3% to 7,556.24. The London index’s rise of 22.43 points took it above the previous high of 7,547.63, reached in May. However, sterling fell in reaction to news of the stalled Brexit talks, with the pound down 0.39% against the dollar at $1.3173. It also fell 0.23% against the euro to €1.1122.

JPMorgan plans to move London jobs to Paris

The chief executive of JPMorgan Chase confirmed the American bank’s interest in moving jobs from London to Paris after Brexit during a meeting with France’s finance minister, Bruno Le Maire, in Washington. Jamie Dimon said: “As we discussed today, JPMorgan is considering adding jobs in Paris after Brexit negotiations are complete.” The lender has already said it will shift “several hundred” of its 16,000 UK staff to the continent.

John Lewis hails the year of millennial pink

This has been the year of millennial pink, according to a retail report from John Lewis. The popularity of the shade has driven sales of everything from shoes to sofas, says The Guardian, with sales of men’s pink T-shirts soaring by 74% in 2017. Sunshine-yellow fashions …read more

Source:: The Week – All news

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