Bank of England exec: banks still too big to fail March 17, 2014 THE GLOBAL financial system is still threatened by banks that are “too big to fail”, according to a speech given yesterday by Sir Jon Cunliffe, deputy governor of the Bank of England. Cunliffe, who is responsible for financial stability at the Bank, said: “I do not think we can say with confidence now that we [...]
Stamp duty thresholds have lost home sellers £260m since 2012 March 17, 2014 STAMP duty is distorting the housing market, losing sellers over £260m in the past two years, according to analysis from property website Zoopla. Research conducted by the website demonstrates the effect of the “dead zone” for stamp duty. Since the tax rises on the price of the whole property if it edges over £125,000 or [...]
Moneysupermarket’s founder pockets £108m more in stock sale March 17, 2014 SIMON Nixon is cashing in another £108m of shares in Moneysupermarket, the price comparison website he co-founded, the firm announced yesterday. The entrepreneur has already made around £300m from previous share sales. This new sale of 55m shares represents a 10 per cent stake in the business and will leave him holding just short of 20 [...]
Just-Eat curries investor favour for £900m float March 17, 2014 JUST-EAT beefed up its boardroom yesterday with senior hires from BSkyB and Hammerson ahead of a float next month, adding to the swelling ranks of firms looking to list in London. The 13-year-old business, which was founded in Denmark by entrepreneur Jesper Buch, said BSkyB chief financial officer Andrew Griffith would join the firm as [...]
Viewpoint: The retail investor should not be ignored March 17, 2014 HOW CAN any company which relies on the custom of the public ignore them when it floats on the market? Certainly it seems wrong to deny your customers a chance to share in your company’s fortunes. The current resurgence of initial public offerings in the London market is certainly welcome. But it isn’t good news [...]
Website star David Buttress backs London March 17, 2014 WHEN King.com decided earlier this year to float in New York, it appeared as if London’s larger flourishing technology companies were all headed for listings across the Atlantic, writes David Hellier. Experts talked about the better ecosystem in New York, the plentiful technology analysts, and a fuller understanding of the sector’s growth potential. But yesterday [...]
Vodafone’s Ono takeover marks a new chapter March 17, 2014 VODAFONE’S €7.2bn (£6bn) purchase of Spanish cable operator Ono was announced yesterday as the FTSE 100 firm said it has now started a new chapter in its corporate history. Shares in Vodafone jumped 1.73 per cent on news of the deal which will give Vodafone a stronger position in the Spanish market where it has [...]
Bottom Line: Time for Colao to hunt bigger fish March 17, 2014 VODAFONE’s chief executive was crystal clear when asked yesterday whether he was planning bids for either ITV or Channel 5. No. But Vittorio Colao was less crystal clear when a tie-up with BSkyB was hinted at, saying the company was in talks with potential partners on commercial deals. Vodafone customers already have access to Sky [...]
Poundland and Pets start trading March 17, 2014 MILLIONS of shares in Pets at Home and Poundland changed hands yesterday after the two retailers officially started trading on the London Stock Exchange. Poundland boss Jim McCarthy opened trading in a ceremony at the exchange but shares in the company closed 2.6 per cent lower at 375p a share. About 2m Poundland shares changed [...]
Boohoo.com finance chief bags 20 per cent of share options March 17, 2014 BOOHOO.COM, the online retailer that debuted on the London Aim last Friday, said yesterday it had awarded its chief financial officer over 20 per cent of its initial share options. The Manchester-based firm’s said that 9,746,000 share options were granted to employees. The options will vest in three years, at an exercise price of 50p, [...]