Deutsche Bank’s share price soars on reports bank is mulling a major bond buyback February 10, 2016 Deutsche Bank's share price soared more than 13.7 per cent this morning, amid reports the German lender is poised to announce a multi-billion euro bond buyback. The bank yesterday attempted to reassure staff and investors through an open letter in which co-chief executive John Cryan insisted it was "rock solid". It followed a note the night before [...]
Arm Holdings shrugs off Apple woes to report soaring profits February 10, 2016 Arm Holdings has reported profits and sales soaring by double-digit figures, as the UK chip maker shrugs off the sector’s woes. The figures Arm posted full-year revenue of £968.3m for 2015, up by 22 per cent from £795.2m the year before. Pre-tax profits were up 31 per cent to £414.8m, from £316.5m last year. The [...]
Asahi to buy SABMiller’s Grolsch and Peroni brands for £2.4bn ahead of AB InBev deal February 10, 2016 Japan’s Asahi Group Holdings has agreed to buy SABMiller’s Grolsch and Peroni brands ahead of SABMiller’s megabrew deal with AB InBev. The acquisition is likely to set Japan’s biggest brewer back over 400bn yen (£2.4bn), according to the Nikkei business daily who first reported the deal, making it the biggest overseas buyout in history for [...]
New homes at Canary Wharf Group and Qatari Diar’s Southbank Place unveiled February 10, 2016 The next phase of homes at Canary Wharf Group and Qatari Diar’s Shell Centre scheme on the South Bank has been unveiled today. The developers behind the 5.25-acre riverside site have put 164 homes at Casson Square on the market, with prices range from £650,000 for a studio and £3.6m for a three-bedroom flat. The apartments are split [...]
Greater London rental prices rise at slowest pace in nearly two years February 10, 2016 Greater London rents rose at their slowest rate in almost two years in January, according to research released today by HomeLet, suggesting that prices in the capital may have reached their peak. The insurance provider’s latest rental index reveals that prices rose by 6.2 per cent in the three months to January compared to the same [...]
New buyer registrations for prime London homes jump as buy-to-let landlords rush to beat stamp duty hike February 10, 2016 New buyer registrations for prime London homes soared in January as buy-to-let landlords scramble to complete their purchases before the stamp duty hike comes into effect in April. Figures from estate agency Marsh and Parsons today show that the number of new buyers registering in January 2016 was 24 per cent higher than in the [...]
Burberry sues US retailer JC Penney accusing it of trademark infringement over coats, jackets and scarves allegedly featuring the “Burberry check” pattern February 9, 2016 British luxury fashion brand Burberry has filed a complaint against US retailer JC Penney, accusing it of trademark infringement for selling coats and jackets bearing exact copies of the "Burberry check" pattern. Burberry has accused the company of illegally selling quilted jackets with the pattern, as well as "scarf coats" in which scarves carrying the pattern were sold [...]
Standard & Poor’s lowers ratings on four US banks with large energy exposures as oil prices stay weak February 9, 2016 Standard & Poor's (S&P) has lowered its long-term issuer credit ratings on four US regional banks with large energy exposures. The ratings agency took action after a review of banks with large energy loan portfolios as a percentage of both total loans and Tier 1 capital. "We are in the early innings of the downturn, [...]
Brave or foolhardy? US Foods shrugs off market turmoil to file for IPO February 9, 2016 US Foods, the US' second-largest food distributor, has just filed for a $100m (£69.1m) initial public offering (IPO) – despite two days of turbulent global trading. In a filing with the US Securities and Exchange Commission (SEC) today, US Foods said it will float on the New York Stock Exchange under the ticker symbol "USFD". The company [...]
Walt Disney Company share price drops despite record earnings in the first quarter driven by new Star Wars film as revenue misses expectations February 9, 2016 The Walt Disney Company has reported its highest ever quarterly earnings of $2.9bn (£2bn), up from $2.2bn in the first quarter of 2015, driven largely by the success of the latest Star Wars film. However, shares dropped by over four per cent in after hours trading as revenues of $15.2bn, up from $13.4bn, failed to [...]