Mothercare share price shoots up with turnaround on track despite currency headwinds April 16, 2015 The figures Mothercare improved sales at home and abroad in the fourth quarter, but currency headwinds are still blowing. In the UK sales inched up 1.5 per cent on the same period last year, a turnaround from consecutive declines in previous quarters and like-for-like sales were up 5.1 per cent after a 4.5 per cent [...]
Life is short. Have an affair: Infidelity site AshleyMadison.com in attempt to woo London bankers April 15, 2015 A controversial dating website which helps married people cheat on their spouses has unveiled plans to list in London due to the capital’s “laissez-faire” attitude to extra-marital affairs. Canada-based AshleyMadison.com – which has the slogan “Life is short. Have an affair” – said it wants to raise $200m (£135m) through a listing later this year [...]
Bank of America cuts costs to get back in the black April 15, 2015 Bank of America swung back to profit in the first quarter of the year as diving costs offset a small fall in revenues to improve the giant lender’s fortunes. Profits came in at $2.98bn (£2bn) for the quarter, compared with a loss of $514m in the same period of 2014. Revenues slid six per cent [...]
Legal & General paid chief Nigel Wilson £4.2m last year April 15, 2015 Insurance boss Nigel Wilson made £4.2m in 2014, up from £4m the year before. The total remuneration received by Wilson, who heads up insurance and investment group Legal & General, included a base salary of £808,000 and also £2m from a three-year performance share plan which vested last year. To qualify for the full [...]
Asia Resource Minerals share price soars as Rothschild pushes on despite ASML proposal April 15, 2015 Shares in Asia Resource Minerals (Arms) surged up by 80 per cent yesterday, following a statement from shareholder Argyle Street Management (ASML) that it is considering making a £200m takeover bid for the mining group through a new vehicle. The shares hit 29p before easing back to close at 27p. ASML, funded by Indonesian business, [...]
UK Oil and Gas Investments share price slips after downplaying size of Horse Hill Gatwick oil discovery in “clarification” April 15, 2015 The company behind an oil discovery at Horse Hill near Gatwick which it claimed could be larger than the North Sea oil fields has issued a clarification downplaying the size of the find. UK Oil and Gas Investments (UKOG) clarified that estimates "should not be considered as either contingent or prospective resources or reserves," after saying the [...]
BNY Mellon fined £126m for “particularly serious” failings April 15, 2015 The Bank of New York Mellon has been fined £126m by the FCA for failing to protect client money should the company become insolvent. The FCA said both the London and international arms of BNY Mellon had failed to comply with its client assets sourcebook, which applies to safe custody assets and client money. [...]
Nokia confirms €15.6bn Alcatel takeover April 15, 2015 Nokia has confirmed plans to buy French telecoms giant Alcatel-Lucent for €15.6bn (£11.3bn). The Finnish company said it had offered 0.55 new shares in Nokia worth €4.27 each per Alcatel share, representing a 28 per cent premium over Alcatel's average share price over the last three months. The two sides said combining their businesses will [...]
JD Sports share price soars as retailer scores £100m profit for the first time April 15, 2015 The figures JD Sports' share price soared by over five per cent after the retail group netted a slam dunk in 2014, with profits before tax and exceptional items smashing the £100m mark for the first time. The retailer which includes high street fixtures such as JD, Size?, Millets and Blacks in its roster, scored [...]
Burberry’s poncho “innovation and investment” drives sales as design worn by Alexa Chung and Cara Delevingne woos customers April 15, 2015 The figures Revenue at Burberry for the second half was up nine per cent on the same period the previous year to £1.4bn. Retail sales were strong, up 13 per cent to £1bn on an underlying basis with America and Europe hitting double-digit growth compensating for a continued slowdown in Asia. Licensing revenue was up [...]