Lancashire Holdings share price drops as company reveals a fall in profits and chairman of nine years Martin Thomas announces departure February 18, 2016 Share price in Lancashire Holdings dropped as the chairman announced his departure and the company revealed a fall in profits today. The insurer reported profit before tax for the year ended December 2015 of $171.7m (£119.4m), down from $226.5m for the year ended December 2014, while gross premiums written dropped to $641.1m, compared with $907.6m [...]
FTSE 100 index drops below 6,000 mark as share prices in Anglo American, Shell and pharmaceuticals fall February 18, 2016 The FTSE 100 index traded lower in afternoon trading as investors continue to look to Brussels, where Prime Minister David Cameron hopes to make a deal with the rest of the European Council on his draft reforms. The UK's blue chip index traded 0.84 per cent down at 5,979 points. "Worried British investors have half an eye [...]
Ukraine vows to “vigorously” defend itself after Russia takes it to London court over unpaid €3bn bond February 18, 2016 Ukraine has vowed to vigorously defend its interests as it gears up for a London legal battle with Russia over unpaid debt. Ukraine failed to repay a €3bn (£2.3bn) loan in December. The country argues it cannot repay the loan as it would favour Russia over other investors – Russia did not take part in a [...]
Morrisons takes £30m swipe at supermarket rival Asda…by improving staff tea areas February 18, 2016 The gloves have come off in the latest supermarket fight. Morrisons has announced it will splash out £30m on improving staff rest areas – at a time when it says Asda is doing the exact opposite. The retailer said the four year makeover will see dated decor and furniture thrown out and replaced with new [...]
Vodafone launches £2.9bn convertible bond issue February 18, 2016 Fresh from its merger with Dutch telecoms giant Liberty, Vodafone has unveiled plans to raise £2.9bn through mandatory convertible bonds. In a statement this morning, the company said it will issue its bonds in two tranches – one with a maturity of 18 months, another with a three-year maturity. Their returns are expected to be between 1.2 [...]
BAE Systems share price jumps as it smashes expectations, boosted by Syria crisis February 18, 2016 BAE Systems has reported strong revenue growth with a solid order backlog as Saudi Arabia aircraft deliveries increased. The company's share price rose 1.98 per cent in early morning trading on the news. The figures BAE Systems reported full-year sales of £17.9bn, an increase of 7.8 per cent from 2014. Underlying earnings before interest, tax and amortisation rose [...]
Centrica’s share price rises as losses narrow, while British Gas profits soar 31 per cent February 18, 2016 British Gas parent Centrica's share price rose this morning as the firm revealed it had narrowed its losses for the full year and gave a confident update on its plan to circumvent falling oil prices. The figures Revenues at the UK energy giant dropped five per cent to £28bn, while adjusted operating profit slumped 12 per [...]
Nestle’s share price falls as it warns of “even softer pricing” ahead while profits slip on currency headwinds, Maggi noodles scare and L’Oreal disposal February 18, 2016 Nestlé's share price fell this morning after revealing profits slipped last year as currency headwinds, the L'Oreal disposal and the Maggi noodles scandal hurt its bottom line. The food and drinks business has warned 2016 will bring more challenges on pricing. The figures Total sales were up 4.2 per cent to CHF 88.8bn, at the lower end of Nestle's guidance, with a foreign [...]
UK house prices: Britain’s property millionaires are set to triple by 2030 – as one in four London homes hit £1m February 18, 2016 Worried about how exactly to become a millionaire after the Adam Smith Institute's predictions this week that we will all be hitting the millionaire milestone by 2050? Not to fear – your property will do most of the work for you, according to new research out today that forecasts that the number UK properties worth at [...]
European grocery prices rise at slowest pace in five years February 18, 2016 The price of everyday products sold across Europe is rising at its slowest pace in well over five years as fierce competition among the grocers rages on, according to the latest data by research giant Nielsen. The data firm said that sales volumes of fast-moving consumer goods (FMCG), such as soft drinks, toiletries and food, rose by 0.8 per [...]