Barratt Developments share price rises as profits jump 40 per cent, boosted by government housebuilding initiatives February 24, 2016 Another day, another stellar performance by a housebuilder: Barratt said revenues rose by a fifth last year, thanks to rocketing house prices. The figures Revenues rose 19 per cent to £1.87bn in the six months to the end of December, up from £1.58bn the year before. That pushed pre-tax profits up 40.3 per cent to £295m. Completions rose 9.4 per cent to 7,626, while average selling price increased 10.9 per cent to £254,200 – [...]
Undercover landlords: One in six renters sublet their home but a third keep it under wraps February 24, 2016 Rents as well as house prices may be rising but tenants are not missing a trick, with more than one in six admitting to having sublet their home, new research today shows. Insurance provider Direct Line for Business said 17 per cent of tenants surveyed said they have rented out part or all of their property to someone [...]
Wasteful banks are throwing money out the window on inefficient systems, delayed or cancelled projects and over-payment February 24, 2016 Banks have topped the list of companies that are throwing money away on unnecessary costs, wasting up to 10 per cent of their revenue each year according to a survey from the Chartered Institute of Management Accountants (CIMA). Over a third of respondents from the banking industry claimed their companies’ waste between five per cent [...]
Third time lucky: London Stock Exchange and Deutsche Boerse in third hook-up attempt February 23, 2016 The London Stock Exchange Group (LSE) and Deutsche Boerse are making their third attempt at a merger in two decades, in a bid to create a dominant European exchange operator worth more than £20bn. LSE confirmed that it was in merger talks with Deutsche Boerse yesterday afternoon, after reports of a possible deal sent the London [...]
London Stock Exchange and Deutsche Boerse deal: Robey Warshaw, Linklaters and Perella Weinberg among the big players working on the merger February 23, 2016 As the London Stock Exchange (LSE) and Deutsche Boerse hammer out the details of their potential merger, City A.M. takes a look at the bankers and other advisers trying to make the deal happen. Boutique banks are booming, and none more so than London-based Robey Warshaw. Co-founder Simon Robey may be a huge Arsenal fan, but was [...]
Etsy’s share price surges after reporting strong revenue growth despite an earnings loss February 23, 2016 Quirky online marketplace Etsy reported revenue just over expectations, as it announced the number of its active buyers and sellers has surged. Etsy's share price jumped over 17 per cent in after-hours trading on the news, but had closed seven per cent lower ahead of the results. Revenue for the fourth quarter was reported at $87.9m (£62.7m), [...]
Hugo Boss share price plummets following ugly results as the US and China look set to drag on future profits February 23, 2016 Hugo Boss shares have tumbled by almost 20 per cent, their biggest fall since October 2008, after it warned that sales in China and the US so far this year have been weaker than it expected. The German-based fashion label said in a statement earnings before interest, taxes, depreciation and amortisation and excluding special items will decline by a “low double-digit” percentage [...]
At the close: FTSE 100 index closes lower as Saudi and Iranian oil ministers’ statements helps price of oil to fall despite London Stock Exchange surging February 23, 2016 The FTSE 100 index closed lower today as the price of oil fell after comments from the Saudi and Iranian oil ministers put the production freeze into doubt. The UK's blue-chip index fell 1.25 per cent to 5,962 points, led lower by Standard Chartered and BHP Billiton, despite the surging share price of the London Stock Exchange. "European [...]
Mars recalls chocolate bars in UK and 54 countries, including Snickers, Celebrations, Mars bars and Milky Way February 23, 2016 Chocolate maker Mars has been forced to recall chocolate bars including best-selling Mars and Snickers from more than 50 countries, including the UK after they were found to potentially contain bits of plastic. The US company said the popular sweets are being recalled in 55 countries across Europe, including the UK, Germany, France and the Netherlands in Europe as well [...]
Soaring university student admissions helps housing provider Unite stay ahead of the game February 23, 2016 Investors piling into student housing and soaring university admissions helped one of the sector’s biggest property firms Unite Group deliver a leap in net asset value (NAV) and profits last year. The FTSE 250 company, which owns 46,000 beds across the UK valued at £3.8bn, said EPRA earnings, the industry benchmark, leapt by 84 per [...]