BlackBerry shows its Passport to square up with smartphone rivals September 24, 2014 STRUGGLING smartphone maker BlackBerry yesterday launched an unconventional new device, called the Passport, that it hoped would help to restore its presence in the smartphone market. Investors appeared to be disappointed by the move as the Canadian firm’s shares fell 0.47 per cent to $10.51 in New York. The device, about the size and shape [...]
Citizens IPO: Share price recovers after low float price September 24, 2014 Shares in RBS’ American spin-off bank Citizens jumped sharply yesterday on their first day of trading. The New York-listed retail bank disappointed on its flotation, with shares sold in the initial public offering (IPO) pricing at $21.50 – below the $23 to $25 RBS had hoped for. But the price climbed rapidly once the shares [...]
BHP Billiton set to add London listing for miner September 24, 2014 BHP Billiton is seriously considering offering an additional London listing for its new mining spin off, in a potential victory for UK shareholders who had pushed for such a move since demerger proposals a month ago. BHP had initially announced listings only on Australian and South African exchanges for the new company, but is now [...]
Vince Cable’s plan to guarantee a challenger bank’s business loans September 24, 2014 One challenger bank will get a boost from the government when the British Business Bank guarantees its loans to small firms, under a pilot scheme to be launched at the end of October. It is Vince Cable’s latest plan to increase lending to SMEs, by taking risk away from the bank and on to the [...]
Russian growth forecast slashed by World Bank due to sanctions September 24, 2014 RUSSIA had its growth forecasts slashed by the World Bank yesterday due to ongoing geopolitical tensions coupled with a lack of reform. The World Bank forecast 0.3 per cent growth in 2015 and 0.4 per cent in 2016, revised down from 1.5 per cent and 2.2 per cent respectively. Sanctions imposed in response to Russia’s [...]
Sorry Guv, i’m blockading the capital September 24, 2014 MORE than one thousand cabbies brought congestion to roads around Trafalgar Square yesterday in a demonstration against what they termed Transport for London’s “incompetence” in taking on taxi-booking app Uber, illegal minicab touting and electric rickshaws. The Licensed Taxi Drivers Association said it was also protesting at Mayor Boris Johnson’s planned 15-mile segregated bike route through [...]
Motor insurance shake-up drives mixed reviews September 24, 2014 THE UK motor insurance sector is in for a major shake up after the Competition and Markets Authority (CMA) yesterday revealed a range of measures to promote competition. The CMA proposals included a ban on exclusivity deals between car insurance firms and price comparison websites, preventing the firms from offering lower prices elsewhere. However, while this [...]
Assura raises £180m to bolster medical centre acquisitions September 24, 2014 ASSURA yesterday tapped investors for £180m through a share placing as it looked to bolster its portfolio of medical centres across the UK. The firm, which buys premises and leases them back to NHS medical surgeries, intends to raise £155.2m by way of a firm placing and open offer. It is also set to raise [...]
DHL “parcelcopter” drone to start Germany delivery service to Juist island September 24, 2014 Logistics firm DHL announced yesterday that it was using a drone to fly parcels to the German island of Juist, in what maybe the first time an unmanned aircraft has been allowed to deliver goods in Europe. The company, owned by Germany’s Deutsche Post, joins Amazon.com in testing the potential for drones to deliver packages. [...]
Weak German outlook bodes ill for Eurozone September 24, 2014 German businesses are at their most downbeat in almost two years, influential survey data showed yesterday, indicating the driving force behind any Eurozone recovery may itself be running out of steam. European Central Bank boss Mario Draghi offered further reassurance that interest rates would remain at rock bottom. His intervention helped push up shares and push the [...]