Spot The Difference: Claudio Ranieri And The CEOs Being Kicked Out Of The FTSE100 February 28, 2017 What's the difference between Claudio Ranieri and the chief executives of the companies at the bottom of the FTSE100? That's easy. The latter aren't Italian, don't get nicknamed the Tinkerman and haven't won trophies lately. They are also still in their jobs. On the field, Ranieri, the manager who won international acclaim for achieving a 100-year-first [...]
Quids out: The Treasury wants you to spend your pound coins before it’s too late February 28, 2017 With mere weeks to go before the launch of the new, 12-sided £1 coin, the Treasury has warned the nation it must either use its pound coins – or lose them. The new £1 launches on 28 March – but all old coins need to be spent by 15 October, the Treasury said today. The Royal Mint is [...]
Johnson Service Group says laundering success is good news for Britain February 28, 2017 Johnson Service Group, the UK's largest rental workwear and laundry firm, today revealed bumper annual results. A 45 per cent growth in the firm's profits was good news for the UK, according to boss Chris Sander, who labelled the company a "barometer of Britain's financial health". Read more: In a spin: CMA suggests laundry services broke competition law The Aim-quoted outfit [...]
Burberry shares jump after Belgium’s richest man snaps up three per cent stake February 28, 2017 Fashion darling Burberry's shares jumped today after reports that Belgium's richest man has snapped up a three per cent stake in the company. Shares rose nearly six per cent, the highest point since May 2015, after Albert Frere disclosed a stake in the trenchcoat maker. Known to be worth $4.9bn (£3.9bn), Frere also recently bought an undisclosed [...]
Virgin Money chief exec Jayne-Anne Gadhia: Brexit made us shelf plans for small business banking, but it might have worked out in our favour February 28, 2017 A series of unforeseen events means Virgin Money might be better off after having to drop a deal to go into small business banking because of Brexit. The challenger bank had been due to acquire an asset finance business, which would have allowed it to expand its offering into small business banking, but changed its [...]
Higher metals prices, ramped up production and the weak Mexican peso boost Fresnillo’s profits February 28, 2017 Fresnillo's shares edged down today after the world's biggest silver producer posted a more than six-fold increase in its profit for the year, but the firm warned of volatile market conditions. The figures The Mexican precious metals miner reported profit of $425m (£342m) for the year to the end of December 2016 compared with $69.4m the previous year. Revenue [...]
Vodafone boss: Post-Brexit continental calling costs are unlikely to rise February 28, 2017 Britons are not facing the possibility of sharp rises in charges for phone use on the European continent after the UK leaves with the EU, the boss of Vodafone said today. Concerns have been voiced that Brexit would lead to customers being slapped with hikes in call costs. But Vodafone chief executive Vittorio Colao said today at the [...]
BP targets growth and drops its break-even oil price to $35-40 a barrel February 28, 2017 BP said it's "getting back to growth" and will be able to balance its books at an oil price as low as $35-40 a barrel by 2021. Earlier this month, BP raised its break-even price to $60 a barrel for this year due to higher spending. In a strategy update issued today, chief financial officer Brian [...]
India’s economy defies banknote chaos to grow by seven per cent February 28, 2017 The Indian economy defied economists’ expectations at the end of the year by avoiding a big slowdown after demonetisation. India’s GDP grew by an annual rate of seven per cent in the last quarter of 2016, according to the government’s statistics authority. That represented a slowdown in the previous quarter, when the growth rate hit [...]
Strike action spreads as Southern rail, Northern and Merseyrail staff will stage walkouts February 28, 2017 A flurry of fresh strike action is set to disrupt Britain's rail services after the RMT announced Southern rail, Northern and Merseyrail will face walkouts. A one-day walkout has been announced across all three train operators for Monday 13 March as the dispute over the role of the guard spreads. The RMT said it had been [...]