RBS share sale: Detractors have forgotten what a terrible state the bank was in August 4, 2015 Just a few years afterwards, it seems people have forgotten how momentous the financial crisis was – and in what a terrible state RBS was. And while criticism of the chancellor for pushing ahead with the first sale of the government’s shares in RBS is politically appealing for some and taxpayers will not ‘get back [...]
HSBC appoints Antonio Simoes as chief executive of Europe business August 4, 2015 HSBC has appointed Antonio Simoes as chief executive HSBC Bank plc, its UK business, and chief executive of its Europe business. He replaces Alan Keir, who has worked for the bank for the 34 years and intends to retire once the change comes into effect on 1 September. Before joining HSBC in 2007, [...]
Royal Bank of Scotland share price dips as government raises £2bn through share sale August 4, 2015 Shares in Royal Bank of Scotland (RBS) were down 1.4 per cent at 332.7p in the first minutes of trading, after the government initiated its first major sale of shares since it took a stake in the bank in 2008. UK Financial Investments, the government's investment arm, said it had raised more than £2bn through [...]
George Osborne starts £2bn Royal Bank of Scotland sell-off August 4, 2015 Chancellor George Osborne has kick started the government's first sale of shares in Royal Bank of Scotland (RBS) today, a sale likely to raise £2bn for the government. UK Financial Investments (UKFI), the agency which holds the government's 79 per cent stake in RBS, announced its intention to sell about 600m shares, representing 5.2 per [...]
Just Eat earnings up 62 per cent as the digital food business keeps piling on the pounds August 4, 2015 Just Eat is gobbling up market share, with earnings up almost two-thirds in the first half of 2015 as the business says it expects at least two years of “over-performance”, The figures The digital food marketplace grew revenues 54 per cent to £107.8m in the six months to 30 June, while underlying EBITDA rose [...]
AlixPartners names former Zolfo Cooper boss Simon Freakley as its new chief exec August 4, 2015 Turnaround specialist AlixPartners yesterday named Simon Freakley as its new chief executive. The company, which is owned by private equity firm CVC Capital Partners, said Freakley would take on the co-CEO role alongside current boss Fred Crawford immediately. He will become sole chief executive from 1 January 2016 onwards. Crawford will take a new role [...]
School holiday season boosts retail figures at Birmingham Bullring operator Hammerson August 4, 2015 The start of the school holiday season helped drive a sharp rise in retail sales in July, according to one of Britain’s biggest shopping centre owners. Hammerson, which owns the Bullring in Birmingham as well as north London’s Brent Cross shopping centre, launched the Hammerson Retail Tracker — or HART — earlier this year to [...]
HSBC share price rises as profit climbs 10 per cent and it confirms Brazil unit sale August 4, 2015 The UK's biggest bank has unveiled a 10 per cent rise in profits – but it has yet to decide whether it will remain headquartered in the UK. Shares in HSBC were trading up 0.6 per cent to 583p in London today. The figures HSBC said profit climbed 10 per cent to $13.6bn (£8.7bn) in the first six [...]
Heineken proves a good sport after profits beat expectations August 4, 2015 Dutch brewer Heineken is counting on its sponsorship of the Rugby World Cup to help boost sales in the second half after posting better-than-expected profits in the first six months of the year. Organic revenues rose two per cent to €10.9bn (£7.7bn) thanks to double-digit volume growth of higher-margin brands including Desperados and Sol Premium. [...]
Twitter shares plummet 5.7 per cent to close at record low August 3, 2015 Shares in Twitter have closed at a record low after tanking 5.7 per cent to $29.27 amid concerns about the prospects for the social media platform's growth. Since their peak in January 2014 when investors were excited about the potential for growth at the newly public social media company, Twitter shares have fallen 58 per [...]