RBS kicks off stock market sale of US arm Citizens May 12, 2014 RBS PRESSED ahead with its plan to sell off its US arm Citizens, last night filing the first official documents in the process of floating the bank on the New York stock market. Analysts believe Citizens could be worth as much as $15bn (£8.9bn), and RBS is floating off at least 25 per cent this [...]
US shares hit new record highs as bulls charge on May 12, 2014 BULLISH investors drove US stock markets to record highs last night, as a potent combination of economic confidence and relative political stability pushed prices upward. American shareholders were inspired by strong performances across European stock markets earlier in the day, where shares rose despite the referendum in eastern Ukraine. The S&P 500 index hit its [...]
Retailers cheer as Easter buyers flock to shops May 12, 2014 SHOPPERS flooded back to high streets and shopping centres this April, with sales surging during the late start to Easter, according to a major trade group. This mornings’s figures on retail sales from the British Retail Consortium (BRC) and KPMG show a 5.7 per cent jump in spending last month, when compared to the same [...]
What the other papers say this morning – 13 May 2014 May 12, 2014 FINANCIAL TIMES Allergan: Valeant bid would hit R&D Allergan has launched a robust defence against a near-$50bn bid by rival drugmaker Valeant and activist investor Bill Ackman, warning that a takeover would crush research and severely impair its ability to sell its products, including Botox. Allergan also said it had doubts about the viability of [...]
Betters tip Saga stock for strong rise after float May 12, 2014 INSURANCE and consumer services group Saga could be worth up to £2.92bn, well above the expected flotation valuation of £2bn to £2.5bn, according to trades on IG’s grey market in recent days. If the traders are correct, Saga will join other recent initial public offerings (IPO) including Royal Mail, Twitter and Boohoo where the share’s [...]
Shares in BSkyB drop by 2.4pc as European merger talks confirmed May 12, 2014 INVESTORS yesterday shunned Rupert Murdoch’s plans to create a new satellite TV giant in Europe, sending shares in BSkyB 2.4 per cent lower after the group confirmed it is in talks with 21st Century Fox to buy its stakes in Sky Deutschland and Sky Italia. The deal, which analysts say could be worth up to £8.8bn [...]
East votes to cut ties with Ukraine as EU gets tough May 12, 2014 TWO EASTERN regions of Ukraine have voted overwhelmingly to separate from the rest of the country, according to election results in the areas yesterday. Separatist movements in Donetsk and Luhansk claimed victory in elections to determine whether the two regions would self-rule, with 90 and 96 per cent of people respectively voting in favour, although [...]
Npower gets highest number of customer complaints again May 12, 2014 BIG SIX energy firm Npower once again topped the list of the most customer complaints compared to its peers, receiving ten times more complaints than SSE. The research by the Citizens Advice bureau showed that Npower received 306 complaints for every 100,000 customers between October and December 2013, while SSE got 31 complaints per 100,000.Three [...]
Average age of UK house buyer has fallen to 36 May 12, 2014 THE AVERAGE age of a home buyer dipped in April, falling as the housing market recovers and signalling that the onset of new mortgage rules is not having a major effect on sales. Across the UK, the typical home buyer is now 36 years old, according to research released today by Mortgage Advice Bureau (MAB). [...]
Carney told to tackle property frenzy ahead of Bank’s report May 12, 2014 AS THE Bank of England prepares for tomorrow’s inflation report, economists are warning governor Mark Carney to get serious about London’s property market if he does not want to hike rates. The Bank is thought to want to delay discussion of rising rates, but analysts say Carney must control the housing market with the financial [...]