Is February’s 2.4pc jump in house prices a worry? March 6, 2014 House prices stormed upwards by 2.4 per cent month-on-month in February, according to Halifax bank. Economists polled by Reuters had expected an increase of 0.7 per cent. Year-on-year, prices rose 7.9 per cent in the three months to February, and 2.1 per cent on the previous three months. The jump takes the average house price [...]
Aggreko shares jump despite currency headwinds warning March 6, 2014 Power generator hire company Aggreko has reported an eight per cent fall in profit before tax, to 338m last year. After nine years of growth, last year proved a challenging one for the firm. but with results in line with what analysts were expectating, and outlook for 2014 better than some had hoped for, shares [...]
EasyJet passenger numbers climb ever higher March 6, 2014 Budget airline EasyJet has reported a rise in passenger numbers of 2.9 per cent to 4.2m for February 2014. The FTSE 100 company enjoyed an even greater rise in passenger numbers of 3.5 per cent to 61.5m for the 12 months ended February. Part of the company's growing popularity is attributable to the success of [...]
Ex-Rio Tinto chief named as Vedanta CEO March 6, 2014 Tom Albanese, former chief executive officer (CEO) of miner Rio Tinto, has been named by Vedanta Resources as its new CEO. Albanese has been chairman of the India-focused mining company’s subsidiary Vedanta Resources Holdings since September of last year. He’ll succeed M.S. Mehta, who’s stepping down at the end of March. Albanese said of his [...]
What you need to know before the open March 6, 2014 Europe’s set for a higher open this morning as investors await today’s European Central Bank (ECB) rate meeting. Another weather-related miss for US services, and disappointing ADP payroll numbers didn’t appear to dent activity too much yesterday, and concerns over Ukraine have seemingly been put on the back burner for now. Opinion is somewhat divided [...]
Balfour Beatty profits hammered as UK construction disappoints March 6, 2014 Infrastructure company Balfour Beatty has suffered a collapse in reported pre-tax profit of 78 per cent to £32m, according to the company's results for the full year ended 31 December. The company cited tough economic conditions and operational issues in the UK as reasons for the poor financial performance. However, Balfour Beatty said it was [...]
“Aviva still has issues” says boss as profits rise March 6, 2014 Aviva has reported a six per cent rise in operating profit for 2013, to £2bn. Chief executive Mark Wilson said the businesses’ turnaround is “intensifying”, adding, however, that he wants to “guard against complacency”. Shares have, however, leapt over eight per cent in trading this morning. Source: Google The London-based insurer saw cash flows up [...]
Betfair plans to double TV voice as mobile revenue booms March 6, 2014 Online gambling company Betfair has reported a boom in mobile revenue of 68 per cent and now represents 60 per cent of Sportsbook revenue. The company's interim management statement for the three months ended 31 January 2014 showed a rise in revenue of five per cent driven by a 12 per cent jump in sustainable [...]
Any Other Business – 06/03 March 6, 2014 MEMBERS of the newly launched Golden Network, a new community aimed at the finance industry, galvanised their support last night when it put on a Hennessy Cognac tasting at McQueen in Shoreditch. City goers from the likes of Santander, RBS and JP Morgan and others popped along to taste the distiller’s finest with Moët brand [...]
Asian markets rise as Ukraine tensions ease March 6, 2014 Asian markets are rising on the back of fresh diplomatic efforts to ease tensions between Ukraine and Russia. Although there has been no resolution to the crisis, investors took heart from US secretary of state John Kerry's remarks that talks between Washington and Moscow would continue in the coming days. EU leaders yesterday agreed a [...]