Morrisons’ share price opens 4.2 per cent up, despite plummeting pre-tax profits September 11, 2014 Shares in Morrisons opened 4.25 per cent higher this morning, even though results published today showed pre-tax profit plummeted by just under a third for the six months ended 3 August, as the company struggles to rise above a slowdown in the grocery market. The struggling supermarket's half-year results revealed a pre-tax profit of £239m [...]
Ocado share price jumps 8.5 per cent as Morrisons tie-up pushes sales up September 11, 2014 Ocado shares opened 8.5 per cent higher this morning after it reported a 22.5 per cent rise in gross sales for the 12 weeks to 10 August 2014. The online grocer enjoyed £231.9m worth of group sales, compared to £189.2m during the same period last year. Average orders per week rose 17.4 per cent from [...]
Scottish independence: RBS confirms plan to move to England if there’s a Yes vote September 11, 2014 The Royal Bank of Scotland (RBS) has confirmed it will re-domicile to England if the Scots vote to abandon the United Kingdom on 18 September. In a statement issued this morning RBS said: RBS has undertaken contingency planning for the possible business implications of a 'Yes' vote. RBS believes that this is the responsible and [...]
Independence referendum: Lloyds, Standard Life and Clydesdale Bank say they’ll quit Scotland if it votes yes September 10, 2014 Lloyds, Standard Life and the Clydesdale Bank are planning to quit Scotland and move their headquarters to London if voters back independence in next week’s referendum, the firms said yesterday. RBS is also planning to move to the City, Treasury sources said. The contingency plans are aimed at reassuring investors they will be able to continue normal [...]
Ana Botin takes reins at Santander globally September 10, 2014 SANTANDER’S chairman Emilio Botin died on Tuesday night, after almost three decades at the top of the Spanish banking giant. The 79-year old took over from his father in 1986 and turned the bank from a local lender into a global titan with a market value of €92bn at the time of his death. His [...]
Li seeks to cash in on growing plane leasing September 10, 2014 LI KA-SHING, Asia’s richest man yesterday aims to become a force in the global aircraft leasing business after it was announced that as his flagship investment firm held talks with lessors on building up a portfolio of planes. The Hong Kong tycoon’s Cheung Kong Holdings was reported by Reuters to be in discussions to form [...]
Russia cutting gas supply to Poland by 20pc September 10, 2014 POLAND and Germany yesterday announced that Russia had cut their gas supply, with Warsaw saying it was down 20 per cent. Some European officials believe Moscow could use gas supply disruptions as its trump card in a confrontation over Ukraine that has already brought ties between Moscow and the west to their lowest since the [...]
Twitter seeking to raise $1.3bn in debt offering September 10, 2014 MICROBLOGGING site Twitter yesterday announced it planned to raise $1.3bn (£800m) to invest in acquisitions and expansion. The company planned two offerings worth $650m each in convertible senior notes due to mature in 2019 and 2021, the microblogging website said in a filing. Twitter will also grant initial purchasers an option to buy up to [...]
The new queen of Kingfisher September 10, 2014 B&Q-owner Kingfisher is to replace Sir Ian Cheshire, its long-standing chief executive, with Véronique Laury, the head of its French DIY business. The DIY and horse jumping enthusiast will become the fifth woman chief executive in the FTSE 100
Investors are “most optimistic” about UK property and equities September 10, 2014 Investors are more optimistic about British shares and housing than any other asset class – including emerging market stocks, a study by Lloyds showed today. UK property far and away led the rankings, indicating investors believed the house price resurgence still has a long way to run. The survey asks investors how they think an [...]