IPO markets set for a strong start to 2016, after Worldpay’s floatation boosts fourth quarter market activity December 17, 2015 The year has ended on a high for initial public offerings (IPO), thanks in part to Worldpay’s success recently on the London Stock Exchange, and the pipeline looks positive for 2016, according to EY research. After a record-breaking 2014, 2015 has been something of a disappointment, especially the third quarter, which EY said was subdued following [...]
More than 600,000 UK homeowners are now property millionaires December 17, 2015 More than 600,000 UK homeowners are now so-called property millionaires as escalating prices pushed more homes over the £1m-mark. Research released by property website Zoopla said the number of homes worth £1m or more increased by 75,796 – up 14 per cent – since January, taking the total number of property millionaires to 622,939. This [...]
Barclays sells index assets to Bloomberg December 16, 2015 Barclays has offloaded some of its analytics and index assets to financial data firm Bloomberg for £520m, as part of plans to focus on its core business. Barclays Chief Executive Jes Staley said the deal was further evidence of the work the bank is doing to manage down its noncore assets. The deal includes benchmark [...]
Panic Saturday shoppers to splurge £1.1bn on last-minute Christmas presents December 16, 2015 Retailers are bracing themselves for a stampede of last-minute shoppers this Saturday, with more than 12.6m customers tipped to spend over £1.1bn on last minute Christmas presents and food. Consumers will splash out £2.2m every minute on so-called Panic Saturday, leading to a £6bn shopping spree over the six days to Christmas overall, according to research [...]
British Airways €104m fine for price-fixing thrown out by EU General Court December 16, 2015 British Airways has reason to rejoice after a €104m (£75.8m) penalty imposed on it was thrown out by the General Court of the European Union today, on the grounds that the original decision contained contradictions. The airline company was originally landed with the fine following an European Commission decision in 2010 over allegations surrounding its role in an alleged price-fixing [...]
SuperGroup shares jump 12 per cent as profits beat expectations December 16, 2015 Shares in fashion retailer SuperGroup, the maker of Superdry clothing, have soared by nearly nine per cent after unveiling a better-than-expected 54.4 per cent rise in profits. The group made an underlying pre-tax profit of £19.3m in the 26 weeks to 24 October, with revenue up 22.3 per cent to £254.7m. Excluding its ailing North [...]
UK-headquartered law firm DWF to acquire German BridgehouseLaw at start of 2016 December 16, 2015 UK-headquartered law firm DWF announced today that it is acquiring BridgehouseLaw, a German commercial law firm, on 1 January 2016. The newly combined firm will boast a turnover of £194m and will employ 2,360 staff members across 16 locations. Andrew Leaitherland, DWF's managing partner and chief executive, will continue to lead the overall business post-merger, while Michael Falter, [...]
St Pancras’ Sourced Market beats £750,000 funding target with a minibond series on Crowdcube December 16, 2015 Sourced Market, the artisan food market based in St Pancras station, has raised £765,000 in a mini bond series on crowdfunding site Crowdcube. The shop/cafe offers a range of artisan food and fresh produce curated from across London's markets and local delicatessens, and will use the investment to fund its expansion with new sites in Victoria and Marylebone planned for next year. [...]
Dixons Carphone hails bigger than ever Black Friday as profits beat forecasts December 16, 2015 Dixons Carphone shares climbed three per cent higher this morning after the high street electricals giant beat City expectations with a 23 per cent jump in first-half profits. The FTSE 100 company, which trades as Currys, PC World and Carphone Warehouse in the UK and Ireland, said strong performance in the UK helped it outperform the [...]
RBS’ Williams & Glyn trade sale (or IPO) to kick-start next year December 16, 2015 Santander UK or Virgin Money could be planning to buy the Williams & Glyn business from Royal Bank of Scotland (RBS) after the taxpayer backed bank said it would begin the sale process in the first half of next year. There has been no formal offer made for Williams & Glyn by either UK challenger, which [...]