Abu Dhabi fund in £1.6bn bid for London’s Maybourne Hotel Group March 1, 2015 Abu Dhabi’s sovereign wealth fund has put forward a £1.6bn bid for Maybourne Hotel Group, owner of London venues the Berkeley, the Connaught and Claridges. Abu Dhabi Investment Authority (ADIA) is reported to have sent a letter declaring its interest in such a deal to Maybourne’s holding company, Coroin. The firm is understood to have [...]
Warren Buffett annual letter for golden anniversary: Spin offs, successor CEOs and selling Berkshire Hathaway’s Tesco stake March 1, 2015 Warren Buffett has ruled out spinning off Berkshire Hathaway into separate businesses, revealed a successor has been chosen to fill his shoes and addressed the firm’s stake in Tesco which he previously called a “huge mistake”, in his annual letter to investors. This year celebrating the firm’s golden anniversary, Buffett's highly anticipated 14-page letter reminisced [...]
IAG share price soars after Iberia turnaround and British Airways profit deliver record results February 27, 2015 The figures International Airlines Group's stock rose more than five per cent in early trading after the group which owns carriers British Airways and Iberia, among others, announced a 95.3 per cent rise in operating profit after exceptional items in 2014 to €1.03bn (£750m), from €527m last year. The group now expects to make operating [...]
Quindell share price plummets as it asks for patience as it conducts independent review February 27, 2015 Shares in embattled insurance claims processor Quindell opened 10 per cent lower after it asked for patience from its shareholders while it completes an independent review. The Aim-listed company, whose share price leapt last year before losing 90 per cent of its value, said the review was taking longer than expected because of "the high [...]
Lloyds share price edges up as it resumes dividend payments for the first time in six years February 27, 2015 The figures Shares in Lloyds Banking Group edged up just under two per cent this morning, after it announced it will start paying dividends for the first time since the financial crisis began back in 2008. The part state-owned bank reported profits before tax of £1.7bn – significantly up from last year's £415m. Dividend payments [...]
Tesco risks Cable’s wrath as two women step down from board February 26, 2015 TWO OF Tesco’s three female board members are leaving the troubled supermarket. Jacqueline Tammenoms Bakker, who has been a director for six years, will retire at the end of Tesco’s financial year, which is on Saturday. Olivia Garfield is stepping down at the same time, after nearly two years at Tesco, to concentrate fully on [...]
Playtech share price soars to all-time high as revenue and profits hit new record February 26, 2015 Gambling software firm Playtech posted record annual revenue and profits yesterday on the back of its acquisitions and partnerships, pushing its shares to an all-time high. The company reported a 24 per cent increase in revenue to €457m (£332.4m) and an adjusted profit up 28 per cent to €194m during the year to 31 December. [...]
Tesco is losing directors Jacqueline Tammenoms Bakker and Olivia Garfield – meaning it has just one female board member February 26, 2015 Two of Tesco's three female board members are leaving the troubled supermarket this week. Jacqueline Tammenoms Bakker, who has been a director for six years, will retire at the end of Tesco's financial year, which is on Saturday. Olivia Garfield is stepping down at the same time, after nearly two years at the grocer [...]
Domino’s Pizza share price soars after revealing record profit February 26, 2015 The figures Shares in Domino's Pizza soared by more than seven per cent in early morning trading after the fast food company announced a 15.1 per cent rise in underlying profit before tax to an extra-large £54.8m for the full year ended 28 December 2014. The record profit was delivered by record sales of £766.6m [...]
Standard Chartered share price rises following appointment of Bill Winters as chief executive February 26, 2015 Having been in the rumour mill for a while now, Standard Chartered has finally confirmed that it's appointed a new chief executive. Bill Winters will replace Peter Sands later this year. The bank made the move following continued shareholder dissatisfaction at how it was being run – returns have not been at their best recently [...]