Foyles swings back into black as new Charing Cross flagship becomes a bestseller March 29, 2016 The late Foyle brothers would be proud. The eponymous bookshop they founded over a century ago – initially selling their old textbooks – has returned to profitability after a turbulent few years that saw the company move to a new flagship store on Charing Cross Road. Foyles, which has six book stores in Birmingham, Bristol [...]
Brick maker Forterra lays plans to follow rival onto the London market with £450m float March 29, 2016 Forterra, the second-largest brick maker in the UK, is laying the foundations for a £450m float on the London Stock Market, looking to build on government plans for an increase in house building. Forterra, previously Hanson’s UK building products division, will list on the London Stock Exchange next month with a free float of at least 25 per cent. [...]
Ascent Resources share price soars after Cadogan Petroleum confirms “highly preliminary approach” over a possible tie-up March 29, 2016 Shares in Ascent Resources rocketed this morning, after Cadogan Petroleum confirmed it made a "highly preliminary approach" regarding a possible tie-up. Ascent shares rose around 73.7 per cent to 3.39p per share in mid-morning trading, while Cadogan added around 15.4 per cent to 11.25p. It comes after Ascent said last week that it had received a preliminary takeover approach [...]
What Storm Katie? FTSE 100 opens higher as insurers Prudential, RSA and Standard Life rise March 29, 2016 The FTSE 100 was 0.5 per cent higher in mid-morning, at 6,136.6 points, as insurers led the index higher – despite the UK taking a battering from Storm Katie over the weekend. Prudential led the risers, up 2.3 per cent at 1,305p – while RSA Insurance rose 1.9 per cent to 476p, and Standard Life was up [...]
Barclays warns of oil prices falling back to the low $30s per barrel as investors “rush for exits” March 29, 2016 Barclays has warned oil prices could be heading back towards $30 per barrel, ending this year's rally which has sent the black stuff up around 50 per cent. The investment bank has predicted a broad-based plunge in commodity prices, arguing that the recent gains fail to correspond with market fundamentals. It said this could lead to a mass [...]
Brexit vote puts brakes on City’s huge IPO boom, cutting the amount raised by by almost 75 per cent since the last quarter of 2015 March 29, 2016 The booming London initial public offering market has come to a screeching halt after reaching near record levels in 2015. For the first quarter of 2016 the total raised through IPOs slumped to £1.6bn, down from £4bn in the last quarter of 2015, data from accountant EY has shown. EY also warns that the market for [...]
Uber boss Travis Kalanick says IPO is not on the near-term agenda March 28, 2016 Uber's chief executive Travis Kalanick has stated there are no plans to float the company on the stock market in the near future. The ride-hailing app firm's boss and co-founder told CNBC that he is "going to make sure [an IPO] happens as late as possible", adding that a flotation is definitely not going to happen [...]
Storm Katie keeps shoppers away from UK high street as footfall drops over Easter bank holiday March 28, 2016 Retail footfall across UK high streets, retail parks and shopping centres has dropped by as much as 10.5 per cent today as Storm Katie battered the UK and put people off venturing outside. The number of visitors to shopping centres and high streets fell by 16 per cent and 11.5 per cent respectively, according to retail analysts Springboard, [...]
Battle for Starwood Hotels & Resorts heats up after China’s Anbang outbids Marriott with $14bn offer March 28, 2016 Starwood Hotels & Resorts Worldwide said it has received a higher $14bn offer from a consortium led by China's Anbang Insurance, in a move that could scupper Marriott International's proposed merger with the hotel group. The US-listed company behind brands including W Hotels, Le Meridien and Sheraton, said that the Anbang group, which includes private equity firms JC Flowers and Primavera Capita, [...]
Revlon’s share price plunges as the make-up brand announces Colgate veteran as new chief executive March 28, 2016 Beauty products group Revlon is getting a makeover after announcing it has hired former Colgate-Palmolive executive Fabian T. Garcia as its new president and chief executive. Revlon has been on the hunt for a new boss after Lorenzo Delpani stepped down at the beginning of March, citing personal reasons. The company, which sells hair care treatments as well [...]