Spotted: Weather mocking RBS’s shocking results February 27, 2014 It's been a rough morning for RBS – its results (losses of £8.2bn), while not entirely surprising, have disappointed analysts and chief exec Ross McEwan has called them "sobering." But it seems even inanimate objects are hell bent on reiterating the bank's poor results. So cruel. The thermometer was spotted and tweeted [...]
Net annual immigration rises to 212,000 February 27, 2014 There has been a 38 per cent increase in net flow of long-term migrants to 212,000 in the year ending September 2013, an increase from the 154,000 seen in the previous year, according to the Office for National Statistics. 532,000 people immigrated to the UK in the year ended September 2013, a slight increase from [...]
German unemployment falls by 14,000 February 27, 2014 The German labour market is looking healthier this February. Unemployment has decreased by a seasonally adjusted 14,000 – a drop in excess of the 10,000 fall expected by analysts. The headline unemployment rate remains unchanged, at 6.8 per cent, according to German government data. On an unadjusted basis statisticians estimate that the jobless total rose [...]
Domino’s boosts profits with 65m pizzas sold February 27, 2014 Takeaway pizza company Domino's has reported a jump of 11.6 per cent in profit before tax to £55m, for the year ended 29 December. The company enjoyed like-for-like sales growth of seven per cent in 670 UK mature stores. The final dividend was hiked 11.4 per cent to 8.8p per share, with the total dividend [...]
Merlin profits rise in wake of successful IPO February 27, 2014 Theme park company Merlin Entertainments has reported a jump in profits before tax to £186m for year ended 28 December, up £40m from the previous year. 2013 was an eventful year for the company with its flotation on the London Stock Exchange. The company reported strong growth in the number of visitors of 10.7 per [...]
What you need to know before the open February 27, 2014 Caution’s in the air this morning as nervousness around the deteriorating situation in Ukraine sees investors risk averse. Markets are, therefore, expected to open lower. US markets stayed around all-time highs last night, although there was some notably treasuries buying. Markets will focus on Janet Yellen’s testimony this afternoon, which’ll shed some light on the [...]
BAT enjoys profit rise despite tough trading conditions February 27, 2014 Tobacco giant British American Tobacco (BAT) has reported a rise in profits before tax of £207m to £5.7bn for the year ended 31 December. The group's revenue was up four per cent at constant rates of exchange while basic earnings per share rose by five per cent to 205.4p. BAT saw a fall in of [...]
£8.2bn loss confirms RBS’s uphill struggle February 27, 2014 As expected, RBS has reported big losses this morning, as compensation and bad loans continued to plague the lender last year. But results were even worse than expected, with a pre-tax loss of £8.2bn. Analysts had expected a loss of nearer £7bn. Deutsche Bank forecast £6.6bn. Shares have slumped nine per cent on the news, [...]
RSA confirms £775m rights issue as losses increase February 27, 2014 UK insurer RSA has confirmed it’ll launch a £775m rights issue to bolster its capital position. Following the £200m fraud scandal in its Irish business at the end of last year, former RBS chief executive Stephen Hester (pictured) has been working to move the besieged firm forward. Hester said this morning that the firm’s 2013 [...]
Standard Life warns independence may see it quit Scotland February 27, 2014 Insurance giant Standard Life has become the first major Scottish business to warn that it may relocate its operations to England should Scotland vote for independence. In the company's annual report for 2013, chairman Gerry Grimstone said: We have been based in Scotland for 189 years and we are very proud of our heritage. Scotland [...]