Equities slip as doubt lingers over Greek deal May 28, 2015 EUROPEAN and US shares slipped lower yesterday amid continued uncertainty over Greece’s debt problems. Equities had rallied earlier in the week on reports of provisional agreements between Greece and its creditors, but later dropped off when German finance minister Wolfgang Schaeuble said that not much progress had been made. In a last-ditch effort to receive [...]
S&P downgrades Vodafone as shareholders mull Liberty deal May 28, 2015 Telecoms group Vodafone has been downgraded by ratings agency Standard & Poors (S&P) which said the company is facing tough business conditions in key markets. The agency said obstacles to Vodafone include “strong sustained competition” and consolidation in the UK market that is likely to leave the firm in the number 3 position. In addition, [...]
Abercrombie & Fitch says sales improving with Hollister’s help May 28, 2015 Clothing retailer Abercrombie & Fitch said yesterday that its business is recovering, buoyed by the strong performance of its Hollister brand. Abercrombie shares rose nearly 12 per cent yesterday after the company reported that same-store sales fell eight per cent in the first quarter, less than the 8.7 per cent analysts had on average expected. Comparable [...]
B&M eyes more stores as sales jump by a third May 28, 2015 Bargain retail chain B&M has hiked its store expansion targets after reporting a near 30 per cent jump in revenue in its first year as a public company. The company, which sells everything from toys to electrical goods and furniture, yesterday said sales jumped 29.5 per cent to £1.6bn in the year to 28 March, [...]
Kingfisher kicks off B&Q store closures as quarterly profits rise May 28, 2015 Kingfisher, Europe’s biggest home improvement retailer, said it has found buyers for a quarter of its stores earmarked for closure as it posted a rise in first quarter retail profit yesterday. Kingfisher plans to close 60 B&Q stores over the next two years in a major overhaul of the business revealed by new chief [...]
Premier Oil makes Falkland Islands discovery at “most material well” of drilling campaign May 28, 2015 Analysts heralded yesterday’s announcement from London-listed Premier Oil, revealing that it has made an oil discovery at its Falkland Islands Isobel prospect, as “encouraging news” for the group. Andrew Lodge, exploration director at the FTSE 250 company, said the find was “an important play opening discovery” in a previously unexplored area of the North Falkland [...]
Dubai and Netherlands moves set IG Group on track for targets May 28, 2015 Online trading company IG Group said yesterday that it remains on track to meet full-year financial expectations. In a trading update for the fourth quarter, IG said it made good strategic progress over the period, extending its stockbroking offering into the Netherlands and receiving approval in-principle of its regulatory licence in Dubai towards the end [...]
RBS could be ordered to beef up new lender Williams and Glyn May 28, 2015 George Osborne yesterday asked the competition authorities to look into the RBS spin-off Williams and Glyn to make sure it is big enough to challenge other banks in the market. Bailed-out giant RBS has to carve the unit out of its existing branch and customer network, under terms imposed by the European Commission at the [...]
Irish MPs give Aer Lingus sale to International Consolidated Airlines final go-ahead May 28, 2015 The Irish parliament today gave British Airways owner International Consolidated Airlines' (IAG) bid for Aer Lingus the final go-ahead. Irish MPs voted by a majority of 23 according to local media reports, ending two days of tense negotiations. The vote comes after the Irish government agreed to sell its 25 per cent in Aer Lingus to IAG [...]
Buzzfeed IPO: Boss Jonah Peretti says media company intends to go public May 28, 2015 Finally, the world will learn how much listicles and cat gifs are worth after the boss of Buzzfeed revealed his intention to take the media company public. Jonah Peretti, the founder and chief executive of the online media company – beloved by the young and envied by the executives of legacy media companies – told an [...]