What the other papers say this morning – 15 May 2014 May 14, 2014 FINANCIAL TIMES Sanctions put squeeze on Russia Russian companies are facing tougher lending restrictions from western banks as sanctions against the country start to bite. Banks are insisting that new loans to Russian businesses that are not directly targeted by sanctions carry clauses forcing immediate repayment or default if sanctions affect those companies. “If someone [...]
ITV’s shrinking audience share scares investors May 14, 2014 BROADCASTER ITV saw its audience share fall to 21.6 per cent from 23.4 per cent a year ago during the first four months of the year, but chief executive Adam Crozier said a stronger line up of shows, including the start of the World Cup finals in June, would help it recover lost viewers. ITV’s [...]
Card Factory narrows price to 225p as it goes to market May 14, 2014 UK GREETING card company Card Factory narrowed the price of shares to the bottom end of guidance at 225p last night, ahead of its initial public offering this morning, City A.M understands. The company, which has been selling cards and gift wrapping on the UK high-street for 10 years, has an equity value of £767m [...]
Analyst Views: What do you think of ITV’s first quarter performance? May 14, 2014 RODDY DAVIDSON | WESTHOUSE SECURITIESWe are pleased by the positive momentum and robust outlook comments within this morning’s update and plan to raise our estimates to reflect a more bullish outlook for advertising spend/the impact of last week’s acquisition of US content producer Leftfield Entertainment. STEVE LIECHTI | INVESTECITV’s first quarter looks OK with the [...]
I’m not bluffing over currency, Osborne warns May 14, 2014 THE CHANCELLOR George Osborne yesterday repeated his warning that an independent Scotland would not be allowed to keep the British pound, telling a select committee that he was not bluffing and his position was “no ifs, no buts”. The chancellor also accused Scottish nationalists of being irresponsible when it comes to spending plans for the [...]
Record level of exporters look to take on new staff as sales rise May 14, 2014 A RECORD number of exporters are looking to hire new staff as demand and confidence grow to record highs, a new survey out today reveals. Research from the British Chambers of Commerce (BCC) and logistics company DHL Express shows that 40 per cent of exporters said they are looking to hire more workers, the highest [...]
London silver fix to lose its lustre in August May 14, 2014 ALMOST 120 years of trading history will come to an end in August, when one of the last setters of the London silver fix market – an integral part of the city’s £1 trillion-a-year silver market – gets rid of its seats. Deutsche Bank said yesterday that it had agreed with the Financial Conduct Authority [...]
Marks and Spencer unveils new collection May 14, 2014 HIGH street giant Marks and Spencer has revealed its 2014 autumn/winter collection of womenswear, in a bid to bolster a small upturn in fashion sales. In figures released last month, the retailer saw a 0.6 per cent rise for the first three months of the year, against 10 quarters of decline.
China charges ex-Glaxo exec with corruption May 14, 2014 CHINA yesterday charged the former head of Glaxosmithkline’s operations in the country with corruption after a 10-month investigation into payments made to medical staff. Mark Reilly stepped down from his role at the pharmaceutical giant and left China when the probe was announced in July 2013, but returned several months later to help with the [...]
HSBC rows back over chairman’s bonus to appease shareholders May 14, 2014 HSBC has rowed back on plans to award chairman Douglas Flint a £2.25m bonus share package, amid rising anger from its shareholders. Instead, the bank said it would pay Flint a one-off £1.06m sum to reflect his increased workload, largely on regulatory issues. The bonus amounted to 44 per cent of Flint’s pay package, which [...]