Travelodge targets port locations to tap into thriving cruise market May 13, 2015 Budget hotel chain Travelodge said yesterday that it plans to cash in on a boom in cruise and ferry trips by building 14 new hotels in key port locations across the UK. The company, which has 516 hotels in the UK, Ireland and Spain, plans to invest £84m on opening hotels in port locations including [...]
BT awards chief Gavin Patterson £1.95m in shares May 13, 2015 BT chief executive Gavin Patterson yesterday took home 416,719 shares, as part of an incentive package. The shares were priced at £4.69, meaning Patterson’s bonus came to a total value of £1.95m. Other senior executives to benefit included group finance director Tony Chanmugam, who received 391,131 shares, and Luis Alvarez, the chief executive of BT [...]
Saudi Arabia says it’s taking investment away from foreign rivals May 13, 2015 Saudi Arabia, the world's biggest producer of oil, claims to be taking investment away from US shale producers and other foreign competitors, according to the FT. A Saudi official told them there was “no doubt about it”, that the decline in price over recent months had “deterred investors away from expensive oil including US shale, [...]
UK Oil and Gas investments share price jumps after extending Horse Hill Gatwick oil licenses May 13, 2015 UK Oil and Gas Investments (UKOG), the company exploring oil reserves in the area of Horse Hill near Gatwick, has had its licence extended, sending shares up more than six per cent in afternoon trading. Regulators have approved a year-long extension to licences held by Horse Hill Developments, the company in which UKOG holds a stake, [...]
UK to get more gas from a Russian firm as Centrica extends deals with Gazprom May 13, 2015 The UK's dependency on gas from Russian firms just increased, after Centrica signed a deal with state energy giant Gazprom – as well as Norwegian rival Statoil – to ramp up the amount of gas it buys from the companies. Centrica, which owns British Gas, said it had extended its contracts with Statoil and Gazprom [...]
Tui share price rises as it promises 10pc profit growth May 13, 2015 The figures Fresh from its recent merger with its German owner, holiday giant Tui said this morning revenues grew 7.3 per cent to €6.9bn (£5bn) in the six months to the end of March, up from €6.4bn during the same period last year. Its loss on earnings before interest, taxation and amortisation fell 20 per cent, from a loss of [...]
SAB Miller says profits flat on strong dollar May 13, 2015 The figures One of the world's largest brewers, SAB Miller, said full-year revenue rose six per cent to £233.bn in the year to the end of March, minus the effects of adverse exchange rate movements. However on a reported basis, it fell by two per cent. Meanwhile, pre-tax profit was flat at $4.83bn, compared with $4.823bn a year earlier. [...]
UK house prices: Barratt Developments storms to highest ever number of forward sales May 13, 2015 Housebuilder Barratt Developments just beat its record for the highest number of forward sales. UK house price growth may have slid from the dizzying heights of last May, but Barratt is reaping the benefits of consistent market growth. The figures Throughout the 19 weeks to 10 May, Barratt said: “market conditions have remained strong throughout [...]
Admiral Group chief executive Henry Engelhardt to step down May 13, 2015 Insurer admiral has announced that chief executive Henry Engelhardt intends to step down in one year's time, and he'll be replaced by co-founder and chief operating officer David Stevens. Engelhardt, who has been with the company since it was first created in 1991, said "don't bury me yet, Guys!". "I still have 12 months on the job and [...]
UK law firm Gateley plans to pioneer London IPO May 12, 2015 A corporate law firm that counts Mothercare and West Ham as clients is hoping to break new ground by becoming the first British firm to float on the stock market. Gateley, which has offices at Paternoster Square, is hoping to raise £10m by listing shares on the alternative investment market (Aim). Read more: Gateley [...]