Upmarket hostel owner Safestay says it is on track to hit forecasts as visitor numbers rise February 15, 2016 Safestay, the Aim-listed property developer of upmarket hostels, said its performance for the year was on track after increasing the number of beds in its portfolio by over 1,000 during the past year. The company, which was founded five years ago with the idea of sprucing up the hostel market, added a fourth hostel to its portfolio in September after [...]
Homes owned through companies falls below 4,000, HMRC figures show February 15, 2016 The number of high-end homes held under company names has fallen to just 0.2 per cent of the UK's total house stock, according to new figures by a leading asset manager, in a sign that government efforts to clamp down on owner-occupiers using vehicles to buy property is paying off. London Central Portfolio (LCP) chief executive [...]
Implats warns on lower earnings due to lower platinum price February 15, 2016 Impala Platinum, the world's second largest platinum miner, today warned that its basic earnings per share for the half year ended 31 December 2015 is expected to be 15-30 per cent lower than the same period the previous year, coming in at between 29 and 35 cents. Headline earnings per share are set to come [...]
Hornby’s share price soars more than 35 per cent as chief executive Richard Ames leaves following profit warnings February 15, 2016 Hornby's share price has soared more than 35 per cent today, after revealing chief executive Richard Ames was leaving the business with immediate effect. Ames stepped down after the toymaker was forced to issue yet another profit warning and admission it could breach its banking covenants last week, prompting the share price to collapse. Chairman Roger Canham [...]
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 [...]