Endurance International hits back at Gotham City claims April 29, 2015 Endurance International Group – the Nasdaq-listed firm that was targeted yesterday by short seller Gotham City – has dismissed its claims as “baseless and not rooted in reality”. Yesterday the shadowy analyst firm identified EIGI as a company “that gets us as excited as Quindell and Gowex did”, putting a zero-dollar price target on [...]
TSB profit rockets 153pc on last quarter April 29, 2015 The figures Profit before tax at TSB jumped 153 per cent in the first quarter of 2015 compared to the last quarter of 2014, to £34.2m. That said, on the same quarter last year, profits fell 27 per cent – down from £47m. That reflected higher costs, partially offset by continued improvement in impairment losses, the bank said. The [...]
Greggs share price edges up as it serves up £20m special dividend April 29, 2015 The figures Proof of the might of the humble sausage roll: bakery chain Greggs said like-for-like sales rose 5.9 per cent in the first 16 weeks of the year, up from 3.8 per cent during the same time last year. It's completed 69 shop refurbishment, and plans to refit a total of 200 to 220 stores this year. It also opened 24 new [...]
Sainsbury’s share price drops after chief executive Mike Coupe is sentenced to two years in an Egyptian jail April 29, 2015 Sainsbury's has strongly denied any wrongdoing after its chief executive Mike Coupe was sentenced to two years in prison for alleged embezzlement. Coupe was compelled to attend a court hearing in Giza, Egypt in September after he was accused of attempting to seize cheques linked to a business the supermarket invested in 16 years ago. [...]
Barclays sets aside £800m for Forex as profits fall 26 per cent April 29, 2015 Barclays has put aside £800m to cover potential costs mainly resulting from legal action over alleged foreign exchange manipulation. The figures The bank made the announcement as part of its first quarter results, which revealed a 26 per cent drop in statutory profits, which came in at £1.34bn. The drop was mainly down to one-off [...]
Deutsche Bank share price falls as pressure rises on bosses in wake of Libor rigging fines April 28, 2015 Deutsche Bank’s share price fell again yesterday as investors failed to warm to the German lender’s latest strategic plan. The stock has fallen eight per cent since the bank was fined £1.7bn last Thursday for attempting to manipulate Libor – the latest in string of problems for the bank, resulting in mounting pressure on [...]
Alliance Trust gets a year to show results as Elliott Advisors gives 12 months’ notice April 28, 2015 Investment firm Alliance Trust has been put on 12-months’ notice by activist investor Elliott Advisors to show results or be forced to change its strategy. In a vicious battle over the past month, both sides have been rallying support among shareholders, with Elliott pushing for three new directors to join the board, and Alliance [...]
BP finance boss Brian Gilvary commits to dividend as bid talk continues April 28, 2015 BP finance chief Brian Gilvary yesterday reconfirmed the company’s commitment to sustaining its dividend payout while shrugging off questions about potential bids for the oil giant. The group announced an interim dividend of 10 cents, or 6.67p, per share yesterday, and Gilvary said keeping the shareholder payout at the top of its agenda had [...]
Santander profits rise as it wins over current account customers April 28, 2015 Santander UK’s profits rose sharply in the first quarter as the lender continued to win customers from rivals. The high street bank yesterday reported profits of £470m for the three-month period, up 13 per cent on the year. It is engaged in a fierce battle with Halifax for new current account customers. Both brands offer [...]
Kier Group will raise £340m to pay for Mouchel April 28, 2015 Construction group Kier will control 30 per cent of the UK’s road network if its proposed deal with international infrastructure firm Mouchel goes ahead. The FTSE 250 company yesterday confirmed that it has entered into a conditional agreement to buy Mouchel in a deal worth £265m. Shares in Kier Group went up by [...]