Northern Trust to establish EU base

Telecoms group Talktalk said revenues slipped in its first quarter despite adding 20,000 broadband customers as it continues to recover from a cyber attack nearly two years ago. The firm posted a 3.2 per cent fall in revenues in the three months to June, with good growth in its corporate and wholesale broadband business offset by a weaker performance in its consumer arm. It said consumer revenues were being hit by re-contracting on to new fixed lowprice plans and a smaller average broadband customer base. Financial services firm Northern Trust is to create a new EU banking base in Luxembourg in the wake of Britain’s decision to leave the bloc.

The Chicago-based firm joins other financial outfits such as AIG in choosing the Grand Duchy as their new EU hub to ensure they can continue to service their continental clients.