This tiny house in Chelsea has gone on sale at £600,000 February 16, 2017 If you're a fan of Miss Honey and her doll's house-style home in Roald Dahl's Matilda, this might resonate with you: a tiny house in Chelsea, dubbed one of London's smallest houses, has been put up for sale – with a price tag of £600,000. Described as a "proper Chelsea gem" by estate agent Douglas & [...]
Lancashire bolsters its balance sheet and beats expectations despite a tough market February 16, 2017 Shares in Lloyd's insurer Lancashire rocketed by nine per cent this morning after beating expectations during a "turbulent" economic environment and a "very challenging" insurance market. The figures Gross written premiums for the full-year fell by 1.1 per cent from $641m (£513m) to $634m with net written premiums falling from $482m to $459m. Profits dropped to £150m from £182m [...]
A Punch in the face: The CMA opens its investigation into Heineken’s Punch Taverns takeover February 16, 2017 The Competition and Markets Authority (CMA) has opened an initial investigation into Heineken's £403m deal to snap up British pub operator Punch Taverns. The UK watchdog will consider whether the deal would reduce competition and choice for customers and whether it needs to launch an in-depth investigation into the takeover. The deadline for the decision is 24 April. Pub landlords [...]
Drax shares in freefall after halving dividend in the face of a challenging market February 16, 2017 Power generator Drax's share price plummeted over seven per cent after revealing underlying earnings had halved. The firm said weaker power prices and "a challenging commodity environment" had hit the group's full-year figures. The figures Full-year earnings at the North Yorkshire-based group fell by 17 per cent – earnings before interest, depreciation and amortisation were £140m, down from £169m. [...]
Deutsche Boerse boss denies insider trading allegations: They have “affected me personally very much” February 16, 2017 Deutsche Boerse chief executive Carsten Kengeter has asked the media and shareholders to “bear with me” as he is investigated over alleged insider trading. Speaking at a media conference after the German company’s full-year results, Kengeter also said the investigation by Frankfurt’s Public Prosecutor’s Office has “affected me personally very much”. Read more: Under-fire Deutsche [...]
Millennials: The unlikely group supporting Britain’s SMEs February 16, 2017 The Enterprise Investment Scheme (EIS) is growing with spectacular speed. Since its inception, £14.2bn has been invested through the scheme according to HMRC statistics, providing much needed capital to Britain’s entrepreneurial businesses. As well as providing opportunities for companies to gain early stage funding, EIS also provides many benefits for investors, and our research shows that [...]
Canada Goose fluffs up the market by revealing plans for $100m listing February 16, 2017 High-end US coat maker Canada Goose has announced plans to raise $100m by listing on the New York and Toronto stock exchanges. The listing will give the firm, backed by Bain Capital, the ability to pay down debt and expand sales in the US. And in what could be seen as a stroke of marketing genius, the [...]
Sir Vince Cable says Co-operative Bank sale is “bad news” February 16, 2017 Former business secretary Sir Vince Cable has poured cold water on the Co-operative Bank’s plans to sell itself, in an interview with the BBC this morning. The Co-op Bank surprised the market on Monday morning with its sale announcement Cable, a former Lib Dem MP, said selling the bank was “bad news” because it will [...]
Cobham shares are in a nosedive after issuing another profit warning February 16, 2017 Troubled aerospace and defence firm Cobham's shares dropped more than 20 per cent this morning after it issued its fifth profit warning in less than two years. The FTSE 250-listed company downgraded its 2016 trading profit to £225m after deducting £20m of year-end adjustments from last month's forecast. In January, the firm lowered its guidance to £245m after [...]
Nestle misses long-term annual organic growth target for fourth year on the trot February 16, 2017 The KitKat, Smarties and Nespresso maker has announced another year of slowing growth in a tough environment and has slashed its sales growth target as a result. The news has left a bit of a bad taste in investors' mouths – shares edged down 1.37 per cent in early trading. The figures Nestle is aiming for sales [...]