Lloyds Banking Group to cut 1,000 jobs as restructure continues November 25, 2015 Lloyds Banking Group is slashing another 1,000 jobs tomorrow, as part of the bank's plans to restructure to a more digital focus. The bank will be officially announcing the job cuts, which will be spread across all operations, tomorrow according to sources to Sky News. The state-backed banking group set a target to reduce its [...]
Autumn Statement 2015: Local councils allowed to take home all receipts from property sales November 25, 2015 Local councils will be allowed to keep all of the money raised from asset sales to reinvest in local services, the chancellor announced today, as part of a wider move to encourage the sale of hundred of billions of pounds of public sector land. In his Autumn Statement speech, chancellor George Osborne said locals governments [...]
Pepsi and Robinsons maker Britvic warns of sluggish start to the year November 25, 2015 Robinsons squash and J2O maker Britvic reported a sluggish started to the year, blaming tough market conditions due to changing shopping habits and increased competition between the traditional supermarkets and their discount rivals. The maker of Tango and PepsiCo brands Pepsi Max and 7UP, reported a 7.1 per cent rise in earnings before interest, tax, [...]
Robinsons owner Britvic warns of sluggish start to the year November 25, 2015 Robinsons squash and J2O maker Britvic reported a sluggish started to the year, blaming tough market conditions due to changing shopping habits and increased competition between the traditional supermarkets and their discount rivals. The maker of Tango and PepsiCo brands Pepsi Max and 7UP, reported a 7.1 per cent rise in earnings before interest, tax, [...]
Securities Association of China: Brokerage Citic Securities makes a $166bn error November 25, 2015 China's biggest brokerage, Citic Securities, massively overstated the value of its derivatives business according to the country's security association. The Securities Association of China (SAC) said today that a monthly report submitted to it by Citic contained inaccurate figures. Read more: Citic fails to impress as its shares float in Hong Kong The statement said new and [...]
Cake maker Finsbury posts sweet performance after munching on new bakeries November 25, 2015 Celebration cake maker Finsbury Food Group reported a huge jump in revenue during its first four months of the financial year thanks to recent acquisitions of rival bakeries. The company, which supplies major baked goods as well as Peppa Pig and Disney Princess celebration cakes to retailers including Morrisons and Marks & Spencer, said sales revenue [...]
Anglo American’s share price slides as HSBC raises dividend and cash burn concerns November 25, 2015 Anglo American's share price has tumbled after HSBC lowered its stock rating on the company to "reduce" from "hold". In mid-morning trading Anglo American's share price was 8.24 per cent down at 415p, the largest faller on the FTSE today. HSBC today said the company is likely to have to spend its cash, despite having cut costs, while [...]
Aldi issues recall alert over halogen oven – and why the supermarket won’t be taking part in Black Friday 2015 November 25, 2015 Aldi has issued a recall notice for a halogen oven sold in the UK over safety fears. Customers who bought the oven, which carries the product code 92746, on 22 October are being asked to return it to their nearest store “immediately”. It was sold as part of a Specialbuy event, the supermarket said. People have [...]
Beyonce to launch new brand Parkwood Topshop Athletic with Sir Philip Green’s retail empire as profits edge higher November 25, 2015 Sir Philip Green said profits for his retail empire that included Topshop and Dorothy Perkins edged higher last year against a background of a “fast changing” retail industry. The tycoon also revealed a new joint clothing venture with singer Beyonce to produce a new “athletic streetwear brand” called Parkwood Topshop Athletic. The global venture is [...]
FTSE 100 index opens higher as housebuilders rally on chancellor George Osborne’s Autumn Statement national housing budget plans November 25, 2015 The FTSE 100 index was up in mid-morning trading, led by housebuilders which cheered chancellor George Osborne's plans to double the national housing budget when he presents his five-year spending plan later today. The UK's top blue-chip index rose 0.82 per cent to 6,329 points. Persimmon led the index higher, its share price rising 6.06 per cent to 1,890p [...]