Marks and Spencer loses appeal against former landlord BNP Paribas December 2, 2015 You know that times are tough for retailers when they are prepared to fight for every penny they could put back in the piggy-bank. Marks and Spencer (M&S) has today lost a long-running battle against its former landlord BNP Paribas after the Supreme Court dismissed its appeal to claw back £1.1m of rent it claims it overpaid. In July 2011, [...]
Numis posts record £55.6m equity issuance and advisory revenues despite stock market volatility December 2, 2015 Numis chief executive Oliver Hemsley told City A.M. old fashioned voice-broking and research gave the mid-sized brokerage an edge over larger banks as it reported record equity issuance and advisory revenues in its full year results today. Numis share price was up 1.61 per cent by mid-morning, to 272p, having dropped 1.18 per cent to 264.6p at the open. [...]
Saga’s share price slumps after its largest shareholder sells 13 per cent stake December 2, 2015 Saga's share price flopped in mid morning trading after it was announced its largest shareholder was selling a stake in the company. Stock in Saga sank 5.28 per cent to 201.05p per share, making it the second biggest faller on the FTSE, behind Moneysupermarket, which fell 6.88 per cent. Shares in Saga dropped after Acromas Bid [...]
Sage Group’s share price slides despite hitting targets December 2, 2015 Sage Group's share price led the fallers on the FTSE 100 this morning, despite posting strong results and indicating further growth. Sage's share price was 4.06 per cent lower at 554.25p per share in mid-morning trading, after it posted revenue growth of six per cent for the year to the end of September. It said it expects [...]
Hedge fund BlueCrest Capital Management has ditched all of its customers December 2, 2015 What was once one of Europe's biggest hedge funds is returning money provided by its investors, amid declining fees, rising costs and lacklustre performance. Founder Michael Platt's decision to close BlueCrest Capital Management, which had $8bn (£5.3bn) under management, will enable him to look after the money of the firm's partners and employees. The shock move [...]
Greene King share price jumps as profits rise and Spirit integration takes place “ahead of plan” December 2, 2015 Brewery Greene King had a strong six months to mid-October, after successfully integrating its latest purchase into the business. The figures During the 24 weeks to 18 October, Greene King's pre-tax profit rose by 46.9 per cent to £121.3m, driven mostly by its acquisition of pub group Spirit Pub Company for £774m in July. It [...]
Moneysupermarket share price drops as founder Simon Nixon reveals plans to leave as he sells £98m-worth of shares December 2, 2015 Moneysupermarket's share price fell this morning as it was revealed founder Simon Nixon is stepping down from the company he set up in 1993, having just sold off a further 32m shares in the business. The entrepreneur is presumably feeling pretty epic. The sale of the shares, which represented around 5.8 per cent of Moneysupermarket's [...]
Findel one step closer to blocking Sports Direct’s plan to shake up board, as shareholderse Toscafund, Schroders and River & Mercantile agree to vote against resolution December 2, 2015 At least three of Findel's major shareholders have said they will vote against a resolution that would put a Sports Direct-nominated director on the company board, taking the total number of votes expected to go against the move to nearly 44 per cent. Sports Direct (SDI) took a 19 per cent stake in the company, which [...]
Zoopla’s share price rises as property group reveals strong full year results and sets confident outlook for next year December 2, 2015 Confidence in Zoopla's future buoyed the group's share price to more than 245p this morning, taking its market cap to more than £1bn for the first time in months. Shares in the FTSE 250-listed firm rose more than 2.5 per cent to 245.98p in early trading, taking its market cap to £1.028bn. Revenue at Zoopla, which owns uSwitch [...]
CVC set to buy up almost half of the RAC December 2, 2015 CVC CAPITAL Partners, the largest shareholder in Formula One, will reportedly announce the purchase of almost 50 per cent of breakdown company RAC later today. CVC will purchase the stake from rival private equity group Carlyle which bought the company in 2011, it was reported late last night. Singaporean sovereign wealth fund GIC, will retain [...]