London Stock Exchange chief executive talks up prospect of “industry-defining combination” with Deutsche Boerse March 4, 2016 London Stock Exchange Group's chief executive has talked up the “industry-defining combination” a potential merger with Deutsche Boerse would create. In a conference call this morning following the release of LSEG’s preliminary 2015 results, Xavier Rolet spoke of the company’s “global aspirations”. But he said he was unable to answer questions about a potential offer from New [...]
Guy Hands is now chairman, chief investment officer and interim chief executive of Terra Firma as it says boss Tim Pryce will step down March 4, 2016 Guy Hands' private equity firm, Terra Firma, has announced its chief executive is planning to step down. In a statement today, Terra Firma, which has stakes in Odeon and Wyevale Garden Centres, said Tim Pryce will relinquish his role as chief executive after seven years – although he will remain as managing director of the firm and [...]
High Street sales slip back into the red in February as shoppers hold out for bargains March 4, 2016 A resurgence in shoppers flocking to the high street at the start of the year came abruptly to a halt in February after sales slumped back into the red. Accountancy firm BDO's monthly high street track released today shows a 1.7 per cent fall in sales for February – the first negative growth for the month of February since 2012 [...]
National Grid warns government over handing blackout responsibilities to energy regulator Ofgem March 3, 2016 National Grid has warned that handing over its role in preventing blackouts to energy regulator Ofgem would only serve to bring further uncertainty to the market. The department of energy and climate change is looking at options for improving energy security, including greater independence for the system operator – which some believe means giving blackout [...]
BHS appoints KPMG as it pursues CVA in bid to end deadlock with landlords over unsustainable rents March 3, 2016 Struggling department store chain BHS is set to enter into a company voluntary arrangement (CVA) in an effort to deal with "unsustainable" rents, which could see the group, previously owned by retail mogul Sir Philip Green, disposing of a number of stores. A CVA allows insolvent companies to pay creditors over a fixed period, while continuing [...]
England No8 Billy Vunipola cites new-found carefree attitude as big factor in his swashbuckling form March 3, 2016 England powerhouse Billy Vunipola believes adopting a more carefree attitude to the game has helped him scale heights which have seen him touted as the world’s best No8. Vunipola has been in sparkling form during England’s three Six Nations victories which have propelled the Red Rose to within sight of a first championship title since [...]
FTSE 100 index closes down on Inmarsat and Whitbread results March 3, 2016 The FTSE 100 index closed lower today as Inmarsat and Costa Coffee parent Whitbread dropped. The UK's blue-chip index fell 0.27 per cent to 6,130 points. "European markets pulled back from weekly highs as service sector data came in mixed, healthcare stocks dropped and traders pulled positions ahead of Friday’s US jobs report," said CMC Markets analyst Jasper Lawler. [...]
Intercontinental Exchange (ICE) reportedly considering selling Borsa Italiana and LCH.Clearnet as part of potential bid for London Stock Exchange Group March 3, 2016 A possible bid by the Intercontinental Exchange (ICE) for the London Stock Exchange Group (LSE) is reportedly likely to include selling off the London exchange's Italian business and French clearing arm. Shares in the LSE soared to a record high on Tuesday, after the New York Stock Exchange (NYSE) owner ICE confirmed it is considering bidding [...]
McCarthy & Stone shares fall despite half-year revenue growth, with company “uniquely placed” to serve growing over-65s population March 3, 2016 McCarthy & Stone shares fell today despite the retirement homebuilder reporting a 32 per cent growth in revenue, suggesting investors are profit taking after the shares' strong performance since the IPO in November. The figures The trading update reported revenue of £250m in the half-year ending 29 February. This was up year on year from £189m. [...]
Barnes & Noble sales drop in third quarter ended January 2016 as consumers flock away from the Nook March 3, 2016 Barnes & Noble today revealed that its sales have dipped over for the last three months, as the brand's ereader fails to find favour with consumers. Sales for the bookseller's third quarter ending January 2016 were $1.4bn (£1bn), down 1.8 per cent compared with $1.5bn the year before. Sales of the company's ereader, the Nook, performed particularly poorly, [...]