Forex broker FXCM UK slapped with £4m fine by City watchdog February 26, 2014 THE FINANCIAL Conduct Authority (FCA) yesterday fined Forex Capital Markets and FXCM Securities (FXCM UK) £4m for allowing the US-based FXCM group to withhold profits of around £6m, which should have gone to UK clients. FXCM UK also failed to tell the regulator that US authorities were probing another part of the group for the same [...]
Taylor Wimpey returns £250m to shareholders February 26, 2014 TAYLOR Wimpey said yesterday it would pay £250m to shareholders after it became the latest housebuilder to report impressive results on the back of a surging housing market. The company said it will pay shareholders a special dividend of £50m in 2014, and £200m in 2015 from its growing cash pile, with plans for further [...]
Airbus Group lines up a big rise in passenger plane production February 26, 2014 AIRBUS will chase more jet orders in the next few years, the company formerly known as EADS said yesterday as it unveiled a 21 per cent rise in underlying profits. The firm, which competes with Boeing for commercial plane orders, said it aims to deliver 46 planes a month by the second quarter of 2016, [...]
Petrofac warns of flat to modest growth after bumper earnings February 26, 2014 FTSE 100-listed oil and gas services firm Petrofac yesterday reported a three per cent rise in profit in 2013 but warned of weak growth this year, in line with previous guidance and market expectations. The company said it expected flat to modest growth in 2014 due to project delays, before a return to strong earnings [...]
Stagecoach says storms will not dent its revenues from railways February 26, 2014 STAGECOACH, the transport group that runs the South West Trains franchise, said the recent storms and flooding that devastated the region’s railways will not make a dent in the firm’s overall results. UK rail revenues were up 3.9 per cent in the forty weeks to 2 February, with the effects of the weather likely to [...]
Housing recovery boosts profit at builders merchant Travis Perkins February 26, 2014 TRAVIS Perkins enjoyed a 12.4 per cent rise in profits last year as the recovery in the housing market helped boost building activity in the UK. Adjusted profit before tax rose to £321m for the year to 31 December while earnings per share were up 14.3 per cent to 103.6p, ahead of analysts forecasts. Revenue [...]
Gatwick to improve flood plans February 26, 2014 Gatwick Airport has set aside £30m to bolster its weather defences after a report criticised the way it handled flooding and high winds on Christmas Eve. Non-executive director David McMillan found that “a very significant number of passengers endured poor levels of service and information” when dozens of festive flights were cancelled during the storms. [...]
Europe delays privatised railway February 26, 2014 The European Parliament yesterday watered down plans to open the continent’s railways to private sector competition. The plan, which was opposed by unions including the TUC, would have seen more tendering on rail networks, but the parliament has delayed this change. “This is not the strong signal that European rail needs and expects to increase [...]
Abercrombie set to lower prices February 26, 2014 Teen clothing retailer Abercrombie & Fitch yesterday said it would lower prices to deal with intense competition, after discounts in the holiday season helped quarterly revenue fall less than expected. The company forecast profit of $2.15-$2.35 per share for 2014, higher than the analysts’ average estimate of $1.62 per share. Abercrombie’s net income fell 58 [...]
Weir soars as it predicts strong growth in 2014 February 26, 2014 ENGINEERING firm Weir Group soared over seven per cent in trading yesterday, after chief executive Keith Cochrane predicted a return to growth this year. The FTSE 100-quoted company reported a four per cent decline in revenue to £2.43bn and five per cent fall in pre-tax profit to £418m in 2013, which Cochrane called “a challenging [...]