Shopping centre giant Intu on track to post rise in full-year rents as shoppers keep tills ringing May 4, 2016 Intu, the shopping centre giant, said it is on track to post a jump in rental income this year as consumers continued to flock through its doors. The FTSE 100 retail landlord, which owns more than 15 major shopping centres including Intu Lakeside, Merry Hill and Braehead, said footfall rose by 1.4 per cent in the year [...]
Food travel giant SSP gobbles up £280m Abu Dhabi airport contract May 4, 2016 Travel caterer SSP has a £280m contract to run three outlets inside a food court at Abu Dhabi International airport, paving the way for further expansion in the Middle East. SSP said the three units in the airport's new Midfield Terminal Building will feature 17 different international and local brands although it didn't disclose the names. The [...]
At the close: One-way traffic on the FTSE 100 as miners and supermarkets drag it down May 4, 2016 Sunshine may be sweeping the capital, but the stock markets are still feeling down, as the FTSE 100 sunk to a four-week low. Closing down 1.2 per cent at 6,112.02, the FTSE 100 has now lost five per cent since it hit 2016 highs back in the middle of April. Miners dug themselves into a hole as [...]
National Living Wage to cost businesses £11bn by 2020, report warns May 4, 2016 Businesses will have to stump up much as £11bn in extra wage costs over the next four years to meet the chancellor's National Living Wage (NLW) target of £9 per hour, new research has warned. The report, by property firm Bilfinger GVA, estimates that the new hourly rate of £7.20 per hour for over 25 year olds will cost businesses around [...]
Before the bell: What you need to know before the US market open May 4, 2016 US stock futures are heading south in New York, following most European markets moving downwards in early afternoon trading. Asian markets recorded small losses by their close this morning. A little earlier the S&P was down by 0.64 per cent, while the Nasdaq was off by 0.72 per cent, and the Dow 0.53 per cent [...]
Adidas tees up and prepares its golf brands for sale May 4, 2016 Adidas has confirmed plans to sell its loss-making golf business after putting it up for review last year. The German sportswear group said it will start seeking out buyers for its TaylorMade, Adams and Ashworth golf brands. However, it plans to keep Adidas-branded golf shoes and clothing, which account for about 40 per cent of the business. "TaylorMade [...]
At the open: FTSE 100 falls as gold and oil lose their shine May 4, 2016 There was no "dead cat bounce" on European markets this morning as they continued to crash, hitting three-week lows on the back of a smorgasbord of mediocre economic data. The FTSE 100 sunk 0.6 per cent in the first few hours of the day to stand at 6,150.48. The German Dax is now more than 100 [...]
Are emerging markets getting their mojo back? May 4, 2016 Emerging markets may be getting some of their mojo back after a tough couple of years. So says Goldman Sachs Asset Management (GSAM), citing a rally in emerging market bonds. Yacov Arnopolin, a portfolio manager for the GSAM emerging markets debt team, is encouraged that the recent interest in emerging markets has been broad-based and [...]
Property wealth is worth more than pension savings for more than half of over-55s May 3, 2016 Over 55 year-olds have more wealth locked up in their property than their total pension savings combined, a new survey shows. The study, by high net worth adviser Bower Private Clients, found that 58 per cent of over 55 year-olds estimate that their mortgage-free home is worth more than the combined value of their and their partner’s pension [...]
Business secretary Sajid Javid orders investigation into BHS collapse May 3, 2016 Business secretary Sajid Javid has ordered a government investigation into the collapse of high street retailer BHS and the conduct of the directors involved. BHS entered administration in April after running out of cash. Speaking in the House of Commons, Javid confirmed that he has written to the chief executive of the Insolvency Service, Sarah Albon, instructing her to [...]