Rupert Murdoch steps down as 21st Century Fox chief: Here’s a chart of every company his son James will inherit (and the News Corp empire) June 17, 2015 Rupert Murdoch has announced he will be stepping down from his post as chief executive of 21st Century Fox in two weeks. Read more: James Murdoch confirmed as new 21st Century Fox chief exec Murdoch’s son, James, will take over, leaving Rupert and his other son, Lachlan, as executive co-chairmen. Chase Carey, a career Murdoch man [...]
RBS share price falls as Natwest urgently investigates “missing” customer payments June 17, 2015 Natwest has launched an emergency investigation into “missing” customer payments caused by yet more computer glitches. The RBS-owned bank said this morning it was looking into the issue “as a matter of urgency”, telling customers it was a “technical issue with payments crediting”. It said those who needed to access funds today should [...]
UK house prices: Tony Pidgley’s Berkeley calls for Britain to stay in the EU as housebuilder’s profits rise 42 per cent June 17, 2015 London-centred residential property developer Berkeley Group announced a 42 per cent increase in full-year profits today, but warned a British exit from the EU would be bad for the capital's property market. Read more: How can the UK build more houses? In preliminary results for the year to the end of April, Berkeley stressed that the [...]
Betfair enjoys surge in profits as customer base grows by half June 17, 2015 Betfair Group enjoyed a surge in profits following a 52 per cent increase in its active customer base in 2015, leading to its chief executive saying the company is "well positioned for further growth". The figures Betfair's revenue for 2015 was up 21 per cent on 2014 – standing at £476.5m. This led to profits [...]
Whitbread chief Andy Harrison to leave earlier than planned as Alison Brittain prepares for top job June 16, 2015 Whitbread said yesterday that its new chief executive Alison Brittain would replace Andy Harrison two months earlier than planned as the company posted a 4.3 per cent rise in first quarter underlying sales. Harrison, who has helped Whitbread’s stock market value soar from £2.5bn to almost £10bn during his five years in the top job, [...]
Applegreen IPO: Irish owners net €20m in petrol station listing June 16, 2015 Two Irish entrepreneurs are in line for a €20m (£14.37m) windfall after floating their petrol forecourt business on the London stock exchange. Bob Etchingham and Joe Barrett, who founded Irish petrol station group Applegreen 23 years ago, will net €15m and €5m respectively from the listing, according to regulatory documents filed yesterday. Both [...]
Cargiant unveils £5bn plans for Old Oak Common regeneration June 16, 2015 Cargiant unveiled ambitions plans yesterday to turn its 46-acre site at Old Oak Common into a new £5bn district with 9,000 homes, further dashing QPR’s hopes of building a stadium on the land. The car dealership firm and its development partner London & Regional said the site would be renamed Old Oak Park and be [...]
Funerals group Dignity in £38m deal to expand with Laurel purchase June 16, 2015 Listed funeral services provider Dignity is expanding, with the purchase of 36 funeral homes from Laurel Funerals for £38m. Laurel currently operates in 83 locations across the UK. In order to avoid any potential competition concerns, Dignity is only acquiring sites that complement its own geographic spread. The transaction is expected to close in July. [...]
Gatwick airport partners with budget airline WestJet as runway expansion report looms June 16, 2015 Canadian budget airline WestJet has selected Gatwick as its first English destination from Canada, in a boon to the airport’s expansion campaign. WestJet’s wide-body Boeing 767-300 aircraft will begin flying the route next year, with the Canadian airports yet to be determined. WestJet boss Gregg Saretsky said Gatwick is the “ideal airport” for its first [...]
Why it’s not time to dump US equities: A Fed interest rate hike won’t drag down stocks June 16, 2015 For US equity investors, it’s all eyes on the Fed until we see the first lift-off in interest rates in September or potentially December this year. We’ve got beyond the patch of weak economic data earlier in 2015 and are returning to stronger growth, as signalled by healthy labour market data in recent months. Ironically, [...]