Riba Stirling Prize 2014: London loses out to Liverpool as The Shard, London Aquatics Centre and LSE’s Saw Swee Hock Student Centre fail to win top architecture award October 17, 2014 Three of London’s most exciting new buildings have lost out on winning the biggest prize in British architecture. The Riba Stirling Prize, architecture’s most prestigious award, has been scooped by the Everyman Theatre in Liverpool, trumping The Shard, The London Aquatics Centre and the London School of Economics’ Saw Swee Hock Student Centre in the [...]
Rolls-Royce share price dives following profit warning October 17, 2014 Rolls-Royce Holdings share price fell this morning after warning that its underlying revenue may be 3.5 to four per cent lower in 2014 compared to last year, on the back of worsening economic conditions and tightening Russian trade sanctions. The British engine maker said leading customers had cancelled orders particularly in the Nuclear & Energy [...]
Jimmy Choo share price climbs on market debut October 17, 2014 Shares in footwear brand Jimmy Choo opened at 141 pence per share signalling a cautious debut on the London Stock Exchange this morning. It's a rise of 0.7 per cent on its offer price of 140 pence per share amid a cooling IPO market and an embattled London stock market that may ease investor worries, if [...]
EE IPO talks back on as Orange and Deutsche Telekom consider options for £12bn disposal October 16, 2014 The owners of EE, the UK’s largest mobile network company, are believed to be back in talks for either a float or sale of the business that could value it at up to £12bn. Orange and Deutsche Telekom, which each own half of EE, were considering strategic options for the business last year before deciding [...]
RBS: Mortgage borrowers are not ready for interest rate hikes October 16, 2014 Borrowers are not ready for higher interest rates and could struggle to pay the bills even with a small rise in repayments, RBS chief Ross McEwan warned yesterday. Most RBS and NatWest mortgage borrowers had never experienced an interest rate rise, he said, and nationally more than 1.5m borrowers bought their house after 2007 when [...]
US Fed stimulus hint sees markets go topsy-turvy October 16, 2014 INVESTORS throughout the world endured another rollercoaster ride yesterday, as the price of assets was jolted around amid volatile trading. The FTSE 100 initially jumped out of bed, gaining 70 points at the open. Yet the previous day’s hangover soon kicked in and the blue chip index slumped to 6,072 points – its lowest level [...]
Jimmy Choo to be priced at 140p a share October 16, 2014 ALL EYES will be on how shares in Jimmy Choo trade today as they make their debut on the embattled London stock market. Jimmy Choo is expected to launch its flotation share price at 140p, putting its value at £546m instead of the hoped for £700m. Meanwhile, Virgin Money, the challenger retail bank, is still [...]
Worries escalate over recession in the Eurozone as currency bloc slips further towards deflation October 16, 2014 Eurozone inflation hit a five-year low in September as weak spending continues to plague hopes of an economic recovery. Prices rose just 0.3 per cent year-on-year in September according to figures published yesterday by official data house Eurostat. The figure was down from 0.4 per cent in August and continues the single currency area’s apparent [...]
IMF: Seven in 10 Eurozone banks are still too weak October 16, 2014 Most Eurozone banks are too weak to give out loans and support any economic recovery, a top International Monetary Fund (IMF) official warned yesterday. The banking sector in the euro area is only just getting to grips with bad debts and inefficiencies, according to Jose Vinals, the director of the monetary and capital markets department [...]
Banana drama as Fyffes knocks back hostile bid from Jose Luis Cutrale and Joseph Safra October 16, 2014 Banana giant Fyffes yesterday moved to block another advance from a Brazilian orange juice tycoon trying to turn the head of its takeover partner Chiquita with his own offer. US-based rival Chiquita agreed to merge with Fyffes in March, but faced doubts on Wednesday when juice magnate Jose Luis Cutrale and billionaire Joseph Safra threatened [...]