Dollar advance during Thursday trading puts pressure on Asian shares and commodities March 24, 2016 The dollar rose for a fifth straight session on Thursday, putting pressure on Asian shares and commodity-rich markets such as Australia. The dollar advance, seeing it up around 0.47 per cent against other major currencies during Thursday trading, was prompted by another Federal Reserve official indicating there could be more than one increase in US interest [...]
Rum-maker Bacardi stirs things up by moving its European headquarters to Spitalfields March 24, 2016 Bacardi, maker of the world's leading rum brand, is moving to the other side of town after announcing plans to decamp its offices in west London to a new scheme in Spitalfields. The family-owned spirits company has agreed to let the entire third floor – or 9,564 square feet – of TH Real Estate's The Steward Building near Liverpool Street on [...]
Sofa chain DFS hails bumper half-year profits March 23, 2016 Shoppers are in the market for a new sofa and they are coming to buy them at DFS, according the furniture chain which posted a jump in first half profits. The company, which trades under its eponymous brand as well as Sofa Workshop and Dwell, said it made a pre-tax profit of £16.2m in the six [...]
Premier Foods’ share price soars as Mr Kipling owner rejects £500m takeover approach by US food giant McCormick March 23, 2016 Shares in Premier Foods have rocketed by 65 per cent today after the Mr Kipling and Bisto gravy owner confirmed it has rejected a second £496m takeover approach from US rival McCormick, saying the offer significantly undervalued the company. The food company said it was was first approached on 12 February regarding a possible cash offer of 52 p per share, which [...]
BHS landlords and creditors approve crucial CVA vote to slash rents March 23, 2016 Struggling department store chain BHS will live to fight another day after creditors and landlords today voted in favour of a restructuring deal to slash the rent bill for its 164 UK stores. The company said 95 per cent of creditors approved a Company Voluntary Arrangement (CVA) for 125 stores at a meeting at the Novotel Hotel in Hammersmith this morning – [...]
Bond film Spectre boosts fourth quarter box office takings at cinema chain Vue International March 22, 2016 Cinema chain Vue International has hailed record full-year results as blockbusters such as James Bond movie Spectre helped to boost box office takings in the fourth quarter. In a presentation to bondholders, Vue's parent company Vougeot Bidco said group turnover increased by 17.4 per cent to £180.6m in the three months to 26 November, taking full-year sales to £697.9m. The company, which [...]
At the close: FTSE 100 rises despite tourism stocks dropping in wake of Brussels attacks March 22, 2016 Tourism stocks took a hit today in the wake of attacks in Brussels, holding the FTSE 100 index back from closing higher. The index closed 0.13 per cent higher at 6,192 points. "European equities dropped on Tuesday after a coordinated set of terrorist attacks at the airport and metro stations in Brussels sent investors out [...]
The City’s Walkie Talkie skyscraper is finally full after CISI snaps up last remaining floor March 22, 2016 The developers behind the Walkie Talkie skyscraper have let the last remaining floor in the building two years after completion in a milestone moment for the City. The Chartered Institute of Securities and Investment (Cisi) has agreed to take the third floor of the Rafael Vinoly-designed building at 20 Fenchurch Street at a rent of around £65 per square feet, City A.M. [...]
EU referendum: A Brexit would make average Briton $30,000 better off by 2020, says report March 22, 2016 The average UK citizen could be $30,000 (£21,000) better off by 2020 than they are today if Britain voted to leave the EU, research by New World Wealth (NWW) has claimed. In a note out today, the wealth intelligence group estimates that the average wealth per person would rise from $147,000 to $180,000 by 2020 if a Brexit went [...]
Brussels attacks: Ryanair, EasyJet, Thomas Cook, InterContinental Hotels’s and American Airlines share prices fall after explosions March 22, 2016 Shares in holiday firms sank today, in the wake of two explosions at Brussels' Zaventem Airport, and a third at the Maalbeek metro station, which are believed to have killed at least 34 people and wounded more than 130 between them. Airlines were particularly affected: Shares in American Airlines, which was said to be the target of this [...]