Dixons Carphone reports “good start” but mobile sales drop September 9, 2014 Dixons Carphone will breeze into the FTSE 100 on 22 September, the newly formed company announced today. The £3.6bn merger of Dixons Retail and Carphone Warehouse was completed on 7 August, and the company says it has made a "good start" in the period since. Dixons Retail recorded a four per cent increase in like-for-like [...]
Quindell share price soars as court rules Gotham City Research’s accusations “were wrong” September 9, 2014 Quindell has won its libel claim against analyst Gotham City Research, with shares in the company rising as high as 11 per cent in reaction to the news this morning. The British insurance outsourcer issued libel proceedings against Gotham in April after it had posted a critical report on Quindell, describing it as "a country [...]
Whitbread share price rises as Costa Coffee injects caffeine into sales September 9, 2014 Shares in leisure giant Whitbread opened 1.6 per cent higher, after it posted a trading statement showing Costa Coffee delivered like-for-like sales of 5.8 per cent in the 24 weeks to 14 August, helping to make up for more sluggish growth of 3.1 per cent in its restaurants. Costa enjoyed growth in worldwide sales of [...]
City jobs bonanza: Hiring is increasing at its fastest since the financial crisis September 8, 2014 Hiring in London is rising at its fastest pace since the boom years before the financial crisis, according to a study out today from recruiters Manpower, in the latest sign that the economic recovery is gathering steam. Staff are being hired at all levels, from senior City executives to apprentices and trainees, as firms invest [...]
Rogue trader Jerome Kerviel freed after just five months in prison September 8, 2014 Former Societe Generale banker Jerome Kerviel was freed from jail yesterday, after serving just five months of a three-year sentence. The man whose risky bets lost Societe Generale £4.9bn in 2008 told reporters he couldn’t wait to phone his mum. “I am super happy to leave today … I want to rebuild my life. I [...]
Scottish Independence: Brown storms back into fray over Yes threat September 8, 2014 The battle to keep the United Kingdom together stepped up a notch last night as Gordon Brown dramatically returned to the fray. The ex-Prime Minister unveiled a detailed timetable for further devolution to Scotland, throwing a planned cross-party announcement later this week into disarray. It came as a late night poll from TNS put the [...]
Nervous investors quit Scots stocks on vote fears September 8, 2014 SCOTTISH shares led the UK markets down yesterday as investors responded to the real possibility Scotland could vote to leave the union in next week’s referendum. Sterling slumped again, as a TNS poll put the independence and unionist camps neck and neck. The FTSE100 slid 0.3 per cent yesterday. Scottish-based banks RBS and Lloyds led the slide, down 1.3 [...]
EU puts new Russia sanctions on hold in hope ceasefire survives September 8, 2014 EUROPEAN leaders last night announced they had agreed new economic sanctions against Russia – but will not put them into force for the time being. Russia threatened to hit back, potentially by closing its airspace to EU airlines’ flights. Brussels’ aim is to punish Russia for its increasingly overt invasion of regions in the east [...]
Nick Clegg rules out London air expansion plans September 8, 2014 LIBERAL Democrat leader Nick Clegg has ruled out airport expansion in London if his party is elected in 2015. Launching the party’s draft manifesto yesterday, Clegg vowed to oppose any expansion of Heathrow, Stansted or Gatwick, as well as a new airport in the Thames Estuary because of air and noise pollution. The party is [...]
Biggest bank IPO of the year, as RBS values US bank Citizens at up to $14bn September 8, 2014 RBS hopes to raise $3.5bn (£2.2bn) by selling the first chunk of its US retail bank Citizens, the bailed-out bank announced yesterday. It will be the biggest banking sale of the year, and reflects the renewed confidence markets have in newly-floated stocks. RBS is selling Citizens as part of its wider plan to cut back foreign [...]