Card Factory gets new chief executive Karen Hubbard from B&M to replace Richard Hayes January 6, 2016 Card Factory has appointed the current chief executive of bargain retail chain B&M, Karen Hubbard, to fill the shoes of its outgoing boss. Hubbard will take over from Card Factory's chief executive, Richard Hayes, in Mid-April. Hayes is due to leave at the end of June, after a four-month transition period. Hubbard held a number of senior [...]
Drax shares hit by European probe into state aid for biofuel conversion January 6, 2016 Plans by Drax to convert its North Yorkshire coal power plant to instead burn biomass hit a stumbling block yesterday, when the European Commission (EC) said it will look into whether government subsidies to support the site’s conversion to the fuel amounted to state aid. Shares in the energy company were burned by the news [...]
Jack Dorsey confirms Twitter is exploring removing the 140 character limit January 5, 2016 One of Twitter’s standout features may soon be a thing of the past, but investors weren’t wowed by chief exec Jack Dorsey confirming the firm is toying with removing the 140 character limit. Rumours from Silicon Valley hinting at Twitter plans to expand to a 10,000 character limit sent users into headspin. But it wasn’t [...]
Car industry revival turbo charged in US – GM, Fiat Chrysler, Ford, Toyota, and Nissan all pull in record sales for December and 2015 January 5, 2016 Oil prices at an 11 year low, an easy line of credit, pent up customer demand, and a rebound in the jobs market all contributed to a record breaking 2015 for the US car industry, crowned with one of the best December trading periods ever. The picture is looking similar in UK, with many of [...]
Aberdeen falls to lowest point since 2012 on Barclays downgrade January 5, 2016 Aberdeen Asset Management shares fell to a three-and-a-half-year low today, weighed heavily by a Barclays downgrade. Investors were rattled by a note from the bank downgrading the stock to “underweight” from “equalweight” amid worries it would need to work harder to slash costs. Aberdeen closed 2.4 per cent lower on the news at 275.2p, its [...]
Fine wine investor Cult Wines to make splash in Hong Kong January 5, 2016 Fine wine investor Cult Wines is poised to open a new office in Hong Kong to take advantage of increasing demand in Asia for rare and expensive bottles of tipple. The company, founded by the BBC’s Apprentice finalist Tom Gearing in 2007, said it has seen a rise of new markets such as Hong Kong and [...]
Pub sector raises glass to economic recovery as more properties change hands January 5, 2016 The pubs property sector enjoyed a resurgence in deal activity last year thanks to the economic recovery and improved consumer confidence, new research shows. The number of significant corporate deals that took place last year was similar to the number in the previous year, according to Fleurets, a commercial estate agent specialising in selling pubs. However [...]
Strong US car sales heading for a record year in 2015 as General Motors, Ford, Toyota, Fiat and Nissan post booming sales January 5, 2016 US car makers posted strong December sales, fuelling expectations that 2015 sales will hit a record high, as analysts suggest a stronger economy and plunging petrol prices could send 2016 sales soaring higher still. December sales hit 17.8m vehicles, according to General Motors, besting the previous record from 2000 of 17.35m. The country’s car sales, [...]
At the close: FTSE 100 index closes up on miners despite losses in Next and Sainsbury’s January 5, 2016 The FTSE 100 index closed up today, outperforming other European markets, as miners made gains. The index closed 0.72 per cent up at 6,137 points, despite losses in Next, Sainsbury's and stocks in companies with exposure to China. Miners ended the day higher, with Glencore leading the pack and Anglo American and Rio Tinto not far behind, after [...]
Andrew Tyrie MP: HSBC chief executive Stuart Gulliver has questions to answer over latest IT failure with online and mobile banking services down January 5, 2016 HSBC chief executive Stuart Gulliver has serious questions to answer after the bank's latest IT glitch left customers locked out of their online and mobile banking accounts, a leading MP has claimed. Andrew Tyrie, a Conservative MP who chairs the influential Treasury select committee, said today that he will be asking Gulliver and the regulators for [...]