Challenger bank Cambridge and Counties swings to profit in just its second year trading April 27, 2015 Challenger bank Cambridge and Counties delivered a pre-tax profit of £4.1m in 2014, compared to a loss of £99,000 when it was set up in the previous year. It was established by the University of Cambridge’s Trinity Hall and Cambridgeshire Local Government Pension Fund, using their large asset base to set up a small business-focused lender. Its [...]
Great Portland Estates and Aberdeen Asset Management sell £222m Wigmore Street office block April 27, 2015 Great Portland Estates and Aberdeen Asset Management have sold a huge office scheme at 95 Wigmore Street in London’s West End for £222.4m. The Wigmore Partnership, the companies’ joint venture, said yesterday that UBS Global Asset Management’s real estate business has bought 95 Wigmore Street near Bond Street station. The 98,800 square feet office block [...]
Regulation pushes EE revenue down ahead of £12.5bn BT deal April 27, 2015 Revenue at mobile phone network EE dropped by 1.1 per cent in the three months to 31 March, down to £1.47bn, ahead of its £12.5bn takeover by BT. The group linked the decline in revenue to the impact of regulation, and said underlying revenue had improved by 0.3 per cent compared to the first quarter [...]
Liverpool Victoria sales shift mirrors UK pensions overhaul April 27, 2015 RADICAL changes to the pensions landscape upended insurer Liverpool Victoria last quarter after the group sold fewer annuities but more bonds. Moves by chancellor George Osborne to give retirees more choice about how they spend their pension pots saw LV’s annuity sales slump. The group, which sponsors the UK’s premier cricket competition the County Championship, [...]
Gaming software developer Playtech bets on a strong 2015 April 27, 2015 Isleof Man-based gaming firm Playtech yesterday said it had won big in the first quarter, with revenue up 31 per cent. Playtech, which develops online gaming and sports betting software, said – despite being impacted by the weakness of the euro – it increased revenues from regulated markets by 40 per cent for the three [...]
Google pledges to give millions of pounds to news organisations across Europe April 27, 2015 Google is offering to give news organisations across Europe €150m (£107m) worth of funding, to help them earn money from their own online coverage. Those eligible to receive the money range from established publishers to start-up news providers, and the money will be given over the course of the next three years. According to [...]
Apple smashes it and beats expectations with best second quarter figures ever April 27, 2015 The world's most valuable company has just outdone itself. The figures During the second quarter ending 28 March, Apple's revenue grew by 27 per cent to $58bn (£38bn), exceeding market expectations of $56bn. The net profit of $13.6bn will also bring a smile to investors' faces, since it pushed earnings per share up by [...]
Tesco paves way for Dunnhumby sale with end to exclusive Kroger deal April 27, 2015 Tesco has taken a major step forward in paving the way for a sale of its lucrative Dunnhumby data business after agreeing a deal with US retailer Kroger to loosen an existing partnership which prevented the firm from expanding stateside. The joint venture with Kroger had been a thorny sticking point in any potential sale [...]
Apple earnings: Four things to expect after the iPhone 6 success and Apple Watch launch from the second quarter results April 27, 2015 Apple is expected to report another exceptional quarter, still riding high from the success of the iPhone 6. It's a tough act to follow after last quarter, its first since the new generation phone launched last year, when it sold a record 74.5m iPhone's and sales rose an astonishing 30 per cent to $74.6bn (yes, [...]
Another director leaves House of Fraser following Chinese acquisition April 27, 2015 House of Fraser is losing another member of its senior team, months into the department store's ownership transition. Chief financial officer Mark Gifford is leaving the company in September after eight years in the role, and 13 years at the company all told. Colin Elliot, a chartered accountant who has most recently worked [...]