Ryanair and Wizz Air report jump in passenger numbers December 3, 2015 Budget airlines Ryanair and Wizz Air have both reported a healthy jump in passenger numbers for November. Traffic at Ryanair, which is part-way through its customer charm offensive dubbed "Always Getting Better", rose 21 per cent to 7.71m passengers, while its load factor rose five percentage points to 93 per cent. Rolling annual traffic to November rose [...]
China ramps up investment in Africa in return for greater access to commodities December 3, 2015 China and South Africa have entered into a series of business deals amounting to $6.5bn (£4.4bn), which will result in huge infrastructure projects taking place in South Africa. Yesterday, 26 deals were signed between the nations, with one of the biggest single deals involving South Africa's national rail operator, which received $2.5bn in investment. South [...]
Battle for the mobile privacy market heats up as Silent Circle moves into enterprise software December 3, 2015 In a bid to win a larger share of the secure communications market phone maker Silent Circle is moving into enterprise software. Silent Circle, which also makes the controversial Blackphone that has run into trouble due to unexpected demand from Islamic State militants, is shifting its focus from consumer products to supplying businesses and governments. [...]
Morrisons drops out as pharma boosts FTSE 100 – London Report December 3, 2015 The FTSE 100 index closed up last night, buoyed by pharmaceuticals that were given a boost from a Morgan Stanley note supporting AstraZeneca. The UK’s top blue-chip index closed up 0.4 per cent, at 6,420.93 points. Shire led the pack higher, closing 2.35 per cent up at 4,745p per share, while GlaxoSmithKline ended the session [...]
Cantor Fitzgerald, Investec, UBS: Best of the Brokers for 03 December 2015 December 3, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com Cantor Fitzgerald has remained a “seller” of Mothercare stock with a target price of 135p, despite the company more than doubling UK profits in the first half. It believes it will struggle to meet the lower end of management’s 2019 underlying pre-tax profit [...]
M&G chief explodes bombshell in pay debate December 3, 2015 Campaigners against high boardroom pay might balk at the notion of taking advice from a City grandee who landed a package worth £5.4m last year – but Michael McLintock is worth hearing out. McLintock, chief executive of the £250bn asset manager M&G Investments, has floated an idea whose explosiveness is only exacerbated by his status. During [...]
Bookie Ladbrokes loses £54m gamble on tax avoidance scheme, as tribunal finds in favour of HMRC December 2, 2015 HM Revenue and Customs (HMRC) announced today that it had won a tax avoidance case worth £54m against Ladbrokes. The ruling at the first-tier tribunal prevents the bookmakers from reclaiming £54m in tax, and the tax authority has said it has another three similar cases in the pipeline worth £112m. “Avoidance just doesn’t pay – we [...]
Aberdeen Asset Management said to be further diversifing as Bank of England backs stress tests December 2, 2015 Aberdeen Asset Management, having recorded outflows of £12.6bn over the three months to the end of September, is reportedly eyeing up bond fund manager Rogge Global Partners. Aberdeen is one of three potential firms that could bid for Rogge, following financial services group Old Mutual putting it up for sale, it was yesterday reported by [...]
Oprah Winfrey’s probably not becoming an Avon lady, but rumours the TV star is buying a stake in the company drive share prices up December 2, 2015 Rumours that media mogul Oprah Winfrey is purchasing a stake in cosmetics company Avon have been doing the rounds today, causing shares in the cosmetics company to rocket by 17 per cent. However, after all the fuss, CNBC revealed that it was unlikely to be true, tweeting from its CNBC Now account that a spokesperson for the [...]
UK shoppers to splash out £20.3bn on groceries this Christmas December 2, 2015 British shoppers are on course to spend £20.3bn on groceries over the festive period, an increase of 1.4 per cent on the £20bn spent in 2014, according to research from IGD. The grocery industry body said shoppers are feeling more upbeat about Christmas this year, with almost a fifth (19 per cent) of people surveyed [...]