Tate & Lyle share price loses sweetness after it warns of lower profits February 11, 2016 Shares in Tate & Lyle were left a little less sugary today, after the Splenda sweetener-maker warned its full-year profits would be hurt by falls in the value of the Mexican peso and Brazilian real. Tate shares closed down 7.1 per cent to 540p, after it warned full-year reported adjusted pre-tax profit would be “modestly [...]
Residential landlord Grainger posts jump in rents as it taps into UK rental boom February 11, 2016 Grainger has posted a jump in rents as the residential landlord presses ahead with its expansion into the UK's booming private rental sector. Grainger has two main divisions – its portfolio of private rental homes and its regulated tenancy business where it buys properties subject to regulated rents at a discount before eventually selling them at [...]
BG shares to trade for the last time tomorrow ahead of merger with Shell February 11, 2016 BG Group shares will trade on the London Stock Exchange for the last time tomorrow, marking an end to the company's 19-year history. It was created when British Gas was split into two separately-listed companies – BG and Centrica – in 1997. BG today said that the High Court of Justice in England and Wales has given [...]
FTSE 100 index closes lower as banks including HSBC, Lloyds, RBS and Barclays fall and miners’ woes continue February 11, 2016 The FTSE 100 index closed sharply lower on Thursday as the selloff in banking and mining shares continued. The UK's blue-chip index fell 2.39 per cent to 5,536 points, led lower by the financial sector with both banks and insurers set to struggle with low interest rates. "Banks have been hit hard and further steep weakness can not [...]
Google tax row: Economists and accountants react to this morning’s hearing with the Public Accounts Committee, many concluding that the corporate tax system needs a revamp February 11, 2016 From how taxed chair of the Public Accounts Committee (PAC) Meg Hillier's patience was to Google's Europe president Matt Brittin's take-home pay, today's hearing between MPs and Google representatives was a true war of words. For some observers, though, the debate did not quite hit the mark. "The focus today around Google’s tax affairs misses the [...]
Business landlord Workspace sells five London buildings for £64m February 11, 2016 Small business landlord Workspace has sold off five industrial buildings across London for £64m as it looks to raise cash to invest back into new schemes. The FTSE 250-listed group, which owns and manages 80 properties let to 4,000 growing companies, said the industrial estates had an average rent of £9.07 per sq ft and were sold at a [...]
French energy giant Total ramps up cost-cutting measures to combat low oil prices February 11, 2016 French oil major Total today announced plans to ramp up its cost-cutting measures, to combat the oil price rout which has wrought havoc on balance sheets across the industry. Total will reduce its capital expenditure to around $19bn (£13.1bn) this year, down more than 15 per cent from 2015. It's also targeting asset sales of $4bn in [...]
Estate agent Countrywide appoints former Tui boss as chairman February 11, 2016 Britain's largest estate agent Countrywide has appointed the former chief executive of travel operator Tui as chairman. Peter Long, who was co-chief executive of Tui until last week, has joined the board as a non-executive director with immediate effect and will take up the role of chairman on 27 April following Countrywide's annual general meeting, the company announced [...]
Profit at Tata Motors slides but beats forecast, share price plummets anyway February 11, 2016 Indian car maker and owner of Jaguar Land Rover, Tata Motors, has reported a profit slump of of two per cent in the third quarter, hitting 35.1bn rupees (£357m), as China’s economic slowdown drags on sales. Tata Motor’s share price is down to its lowest level since August 2013, closing down 5.5 per cent with [...]
Music industry body IFPI moves into The Crown Estate’s Regent Street scheme February 11, 2016 The Crown Estate has secured another letting at its newly refurbished Grade II listed building at the south end of Regent Street. The world’s recording industry body, the IFPI, has agreed to move its London headquarters from 10 Piccadilly to 7 Air Street, taking the entire third floor spanning 9,000 square feet. It is understood to be paying in [...]