Diageo sells last US wine asset Chalone Estate Vineyard to Foley Family Wines February 9, 2016 Diageo has sold off its last significant US wine assets, completing the sale of the Chalone Estate Vineyard in California. The FTSE-listed drinks giant has sold the US winery to Foley Family Wines, in a sale that doesn’t just include the Chalone Estate and Gavilian brands but also nearly 1,000 acres of land. “Chalone Estate [...]
Icap shares fall after third-quarter revenue slumps due to challenging market conditions February 9, 2016 Interdealer broker Icap saw its share price dip this morning after revealing a five per cent slump in third-quarter revenue. The company, which is plowing ahead with the sale of its voice broking business to rival Tullet Prebon, blamed “challenging” market conditions and said “risk appetite remains subdued amongst our clients as they continue to [...]
Housebuilder Redrow’s share price stutters despite record first-half results February 9, 2016 Redrow's first-half results bulldozed through a number of records as the housebuilder's revenue, profit and order book all reached new highs. The FTSE 250 firm's share price spiked 3.3 per cent higher in early trading before slumping 1.8 per cent lower to 414.60p. However, despite some share price volatility (unsurprising bearing in mind the wider [...]
Legal & General Group share price up after insurer reveals bond portfolio position to help calm nervous investors February 9, 2016 Shares in Legal & General opened higher this morning after the insurer disclosed its annuity bond position. Following questions from investors and sell side analysts, the company revealed that the bond portfolio backing its annuity business was valued at roughly £39bn, down slightly compared to £40.7bn the year before. Legal & General also revealed that, in [...]
Tui share price down even as the travel group smashes sales forecasts despite geopolitical turbulence February 9, 2016 Tui’s sales smashed expectations, shrugging off the impact of geopolitical turbulence, and the travel group reiterated its full-year outlook. The figures The German-listed group posted sales of €3.7bn in the quarter ending 31 December, a 5.4 per cent growth that beat analysts’ forecasts of around €3.68bn. Earnings before interest, tax, depreciation and amortisation improved three [...]
Hunter hires Arc’teryx boss Vincent Wauters as new chief executive months after James Seuss leaves February 9, 2016 Fancy wellies brand Hunter has appointed a new chief executive, months after the previous incumbent stepped down. Vincent Wauters will join the business on 1 March, taking on the reins from James Seuss, who left the business back in November. Wauters joins from Arc’teryx, where he was president of the premium outdoor and lifestyle brand, [...]
UK retail sales climbed in January, according to data from the British Retail Consortium and KPMG February 9, 2016 British retailers enjoyed some therapy last month as shoppers cast off the January blues and returned to the high street, according to new figures out today. UK retail sales rose by 2.6 per cent on a like-for-like basis from January 2015, when they had increased 0.2 per cent from the preceding year, according to figures from the [...]
Nearly five per cent of Britain’s shops have been empty for more than three years February 9, 2016 Nearly five per cent of Britain’s town and city centre shops have remained empty for more than three years, new research shows, in a stark reminder of the challenges still facing the high street. The number of empty shops dropped to its lowest level in six years in January, down 12.5 per cent year-on-year, according [...]
Deadpool? 21st Century Fox earnings miss expectations on weak film revenues February 8, 2016 21st Century Fox earnings were more Deadpool than Eddie the Eagle in the three months to the end of December – with film revenues dragging it down. In a statement this evening, the company said quarterly earnings fell one per cent, or $49m (£33.9m), to $7.38bn, against analyst expectations of $7.53bn. Earnings per share fell to $0.44, down from $0.53 last year. [...]
Hold onto your hats: Stocks pare losses in the US but the S&P 500, Nasdaq and Dow Jones still sink February 8, 2016 US markets pared losses but still finished lower this evening, after a stormy start to the week for global markets sent investors fleeing for shelter in safe havens such as gold and government bonds. The Nasdaq, which at one point dipped three per cent, settled 1.8 per cent lower. Meanwhile, the S&P 500 finished the day 1.4 per [...]