This London developer has slashed its land value by 20 per cent February 22, 2017 London developer Capital & Counties Properties (Capco) has cut the value of its Earl's Court development by 20 per cent. In its results for the year, the company said the value of its Earl's Court site had fallen from £1.4bn to £1.1bn. However, analysts were expecting it to be worse. JP Morgan has predicted a 30 [...]
Weir Group’s shares tumble as it struggles to pump up profit in a tough oil market February 22, 2017 Shares in engineering giant Weir Group fell today as the weak North American oil and natural gas market caused a substantial drop in the company's full-year pre-tax profit. The figures For the year to the end of December, the firm reported a 22 per cent drop in pre-tax profit to £170m, which was impacted by "severe oil and gas market downturn". Revenue fell two per [...]
FTSE-250 drug firm looking pale after $220m litigation charge February 22, 2017 FTSE-250 drug company Indivior's full-year pre-tax profits have taken a beating from a $220m (£176m) litigation charge. The drug firm, which makes addiction treatment drugs, saw pre-tax profit fall to $98m from $285m for the year to the end of December. The company recorded a charge of $220m in the third quarter of 2016 for investigative and [...]
BT appoints European replacement in the wake of Italian accounting scandal February 22, 2017 BT today revealed the person responsible for getting to the bottom of the Italian accounting scandal that rocked the FTSE 100 stalwart in January. Chet Patel, who is currently president of BT's global portfolio and marketing, will lead the firm's continental Europe division from 1 March. The position was vacated by Corrado Sciolla left BT, days after news of a £530m accounting blackhole in Italy was revealed. [...]
Bayer confident of finalising Monsanto deal this year after winning Trump backing February 22, 2017 German chemicals firm Bayer is confident of completing its takeover of US seeds company Monsanto this year after apparently winning blessing from US President Donald Trump. Reporting the company’s 2016 results today, Bayer chief executive Werner Baumann said the company was making “good progress” with the deal. Read more: You're the Bayer for us: Monsanto [...]
These five major airlines have been told to pay flight delay compensation as thousands of passengers look to have missed out February 22, 2017 Five airlines have been told they must cough up compensation to thousands of passengers for delays. American, Emirates, Etihad, Singapore and Turkish Airlines have been told they have to obey European laws as the Civil Aviation Authority (CAA) estimated over 200,000 passengers each year could be entitled to compensation. It has launched enforcement action against them today [...]
This one graph explains the horrors of London house prices – and why London renters are trapped February 22, 2017 If thinking about the London housing market is likely to give you a brain haemorrhage, do not read this. New figures from the Office for National Statistics (ONS) show just how ridiculous house price rises have been in the capital over the last six years, and why London renters are also being screwed. Read more: [...]
Lloyds Bank bumps up its bonus pool on healthy pre-tax profits February 22, 2017 Lloyds Banking Group has boosted its bonus pool, after reporting its statutory pre-tax profits had more than doubled for 2016. The bank's bonus outcome rose to £392.9m for 2016, up from £353.7m in 2015. However, Lloyds' bankers could have been in line for more – the lender also revealed today it had skimmed 19 per [...]
The only direct flight between London Heathrow and Barbados will take off this year February 22, 2017 Virgin Atlantic has announced it will launch the only direct flight between London Heathrow and Barbados later this year. The twice weekly service, operating on Tuesdays and Saturdays, will start from 12 December 2017 to tempt those eyeing up Christmas in the Caribbean. Flights go on sale from this Saturday 25 February. The airline's codeshare with [...]
A severe weather warning has been issued for London as Storm Doris heads towards the UK February 22, 2017 All good things must come to an end – and it seems like the weather is happy to oblige. After experiencing the warmest day of the year on Monday, the Met Office has issued a severe weather warning as Storm Doris heads towards the capital. Strong winds are on their way as temperatures start to [...]