City of London Investment Group share price up despite drop in profit and funds under management because of turbulence in emerging markets February 15, 2016 Share price in City of London Investment Group rose today despite the company announcing a fall in profits at its half-year results. The fund manager reported profit before tax of £3.6m for the six months ended December 2015, down from £4.3m for the same period the year before, while funds under management dropped to $3.8bn (£2.6bn), [...]
HSBC’s decision to stay in London is great for the UK, the capital and the kick-start London’s financial services needs February 15, 2016 It comes as a welcome relief that HSBC has taken the decision to maintain its headquarter status in London. Its towering Canada Square, Canary Wharf presence allows the famous HSBC sign to be seen from some distance away. It is therefore, great news that this will remain intact. There are a number of reasons why [...]
Centrica, E.ON and EDF: Moody’s puts 10 European utilities companies on negative watch February 15, 2016 Credit ratings agency Moody’s has put 10 European utilities companies on negative watch, as they must contend with a harsher business environment amid tumbling commodity prices and ultra-low wholesale power prices. It includes London-listed Centrica, which the ratings agency said is vulnerable to low prices through its exposure to gas production and electricity generation. Big [...]
Hammerson goes halves with Canadian pension fund over Birmingham’s Grand Central shopping centre as profits jump February 15, 2016 Retail landlord Hammerson has struck a deal to sell half of Grand Central shopping centre in Birmingham to one of Canada's biggest pension funds, as it reported a jump in full-year profits. The FTSE 100 company, which already owns Birmingham's other well-known shopping centre, The Bullring, bought Grand Central last month for £335m from Birmingham City [...]
FTSE 100 index rallies after Asian markets as the share prices of Reckitt Benckiser and IAG rise February 15, 2016 The FTSE 100 index shot higher today after a rally on most Asian stock markets, despite poor trade data coming out of China. The UK's blue-chip index rose 2.26 per cent to 5,836 points in early afternoon trading, led higher by Reckitt Benckiser and British Airways owner International Consolidated Airlines Group (IAG). "No severe sell-off in Chinese markets after a [...]
Shell share price rises as it completes takeover of BG: Are energy companies’ forecasts in line with reality? February 15, 2016 As Royal Dutch Shell's takeover of BG completes today, it's time to take stock and question the aptness of energy company's forecasts. Shell has said that the deal with BG will work with oil prices in the low $60s, however a number of analysts have since cut their forecasts for Brent crude. At the beginning [...]
Tesco extends its financial support for dairy farmers until April February 15, 2016 Tesco is extending its financial support for dairy farmers through to spring, in the face of cold weather and "uncertain times" in the sector. Originally the winter supplement was scheduled to run until the end of February, but it has rolled its financial assistance out until 17 April "to help [farmers] cover their production costs". Commercial director [...]
Aldi to open 80 stores and create 5,000 jobs in the UK this year February 15, 2016 Disruptive German supermarket Aldi will open 80 new stores in the UK this year, creating 5,000 jobs in the UK, it said this morning. The plans will take the supermarket's estate to 700 outlets in the UK, it said in a statement this morning. A spokesman for the retailer said the stores will be "right across the [...]
Reckitt Benckiser’s share price soars on better-than-expected full-year results February 15, 2016 Reckitt Benckiser's share price soared more than six per cent in early trading, after the consumer goods company unveiled better-than-expected full-year results. The FTSE 100 firm today posted a five per cent increase in sales to £8.87bn over the year, thanks to a particularly strong performance in its consumer health division, which includes brands such as [...]
Hinkley Point C final investment decision not on agenda at EDF board meeting today February 15, 2016 The widely anticipated final investment decision for Hinkley Point C won't be on the agenda of EDF's board meeting today, as some commentators had expected. The French energy giant's board will focus on the firm's 2015 earnings which are due to be released tomorrow, a source told Reuters. The final investment decision was delayed last month amid [...]