SuperGroup confirms Wharton as chief financial officer after previous finance head was made bankrupt June 24, 2015 SuperGroup, the parent company of young fashion label SuperDry, has upgraded its interim chief financial officer Nick Wharton to a permanent role. Wharton, who now joins the board had been acting in the role since 25th February, when he joined from Dunelm where he was chief executive. He had been parachuted in after [...]
New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world June 23, 2015 New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators. Read more: Bank bonus clawback extended to 10 years by UK regulators The clawback rules comes amid growing tensions between [...]
Motif Bio raises £22m as it tries to speed the progress of new drug June 23, 2015 Just two months after first listing, Motif Bio reached another milestone yesterday as it announced a £22m capital injection, raised through the placing of 44m new shares. The Aim-listed biopharmaceutical company also revealed it had appointed Zeus Capital as its nominated adviser and joint broker, with immediate effect. Motif Bio, which floated on the junior [...]
Proteome share price dips after placing to increase funds June 23, 2015 Aim-listed Proteome Sciences has raised £2.5m through the placing of over 13.8m shares at a price of 18p each, the firm announced yesterday. The company said it will use the funds from the placing to increase capacity and shorten lead times to ensure the group can “continue to meet the significant increase in demand for [...]
FTSE 100 riding high as Greek deal fuels Eurozone – London Report June 23, 2015 Britain’s top share index edged higher yesterday, lagging a Greece-fuelled rally in Eurozone shares as weak results from outsourcing company Bunzl dragged on gains. There was also little cheer from the Confederation of British Industry’s (CBI) monthly industrial trends survey, which showed British factory orders grew this month at their weakest pace in almost two [...]
Nasdaq hits a fresh peak and US dollar rises – New York Report June 23, 2015 US stocks ended with slight gains yesterday, with the Nasdaq eking out another record close while investors continued to await clarity on whether Greece could reach a deal to prevent defaulting on its loans. The day’s action was quiet, with trading volume below average. While energy shares rose alongside a jump in the price of [...]
Netflix share price jumps two per cent after share split approved by board June 23, 2015 Netflix’s shares have risen two per cent in after-hour trading after its board approved a stock split. The split will take the form of a a stock dividend, giving an extra six shares of common stock for each single outstanding common stock share. Netflix said it would begin trading at the post-split price on 15 [...]
Standard and Poor’s upgrades British Airways’s outlook despite uncertainty over parent company IAG’s bid for Aer Lingus June 23, 2015 Standard and Poors (S&P) has upgraded British Airways’s (BA) outlook to positive from stable. The ratings agency changed BA’s rating to BB after assessing the company’s finances. S&P said: profitability was materially above our expectations in 2014 and we expect it to remain strong for 2015-2016. It did emphasise, however, that BA’s rating was constrained [...]
Co-operative Bank warns on regulatory action from FRC and PRA June 23, 2015 The Co-operative Bank warned today that UK regulators are likely to "make findings against" following an 18-month investigation. Read more: Co-op Bank says it is on track to meet Bank of England targets The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have indicated they are likely to "commence formal settlement discussions" in [...]
Afren’s share price has mysteriously shot up 82 per cent June 23, 2015 Shares in embattled oil producer Afren closed up 59.33 per cent to 2.39p per share today – however nobody knows why. Earlier today pundits had taken to Twitter in a guessing game after the oil producer's share price mysteriously shot up as much as 90 per cent to 2.78p per share. The jump is particularly surprising [...]