British Land unveils plans for 32-storey City office tower on UBS site December 2, 2015 Plans to replace UBS' London headquarters in the City with a new 32-storey off tower have been unveiled by FTSE 100 developer British Land. The proposed scheme at 2 and 3 Finsbury Avenue Square, which is part of the wider regeneration of Broadgate, would provide around 550,000 sq ft office space across four buildings – the [...]
Winners and losers of this year’s FTSE quarterly reshuffles: Morrison, Worldpay and Hikma Pharmaceuticals December 2, 2015 The FTSE index's last quarterly reshuffle of this year has rolled round, and it could conclude with a bang, as reports suggest embattled high street supermarket Morrison will be given the shove. The other companies being moved to the FTSE 250 index are reportedly security firm G4S and engineering group Meggitt. Worldpay, the payments firm [...]
Sweett Group: Property surveyors admits Middle East bribery in relation to an SFO case into its activities in the United Arab Emirates December 2, 2015 The Serious Fraud Office (SFO) has today revealed that Sweett Group has admitted to a bribery offence. The SFO opened an investigation into the property surveyors in July 2014, regarding its activities in Middle East, particularly the United Arab Emirates (UAE). In Sweett Group’s interim results statement, which was also published today, chief executive Douglas [...]
Telford Homes profit doubles as focus on “affordable” new houses in London areas of Aldgate East and Isle of Dogs pays off December 2, 2015 London-focused housebuilder Telford Homes saw pre-tax profits more than double in the first half, as the supply of new homes in the capital fails to keep up with demand. Chief executive Jon Di-Stefano said it owed its success to Telford's focus on non-prime, or more affordable, areas in the capital such as Stratford where demand for new homes remains [...]
RWE to IPO its renewable, grids and retail units next year amid increasingly testing German energy policy December 2, 2015 RWE, Germany’s second largest utility, has announced plans to hive off its renewables, grids and retail units, in a bid to adapt to the government’s energy policy. The company’s chief executive, Peter Terium, yesterday announced plans to create the separately listed company next year, with 10 per cent of its stock being offered to the [...]
Biggest IPOs of 2015, including Aldermore, The Gym Group, Shawbrook, Worldpay and Auto Trader, have beaten the FTSE 100’s performance December 2, 2015 The volatile markets this year have not been ideal for company flotations. But despite this, the 28 biggest IPOs in the UK this year have beaten the FTSE 100 by 21.2 percentage points, generating an average return of 17.2 per cent according to Deloitte An investment of £1,000 in each of the 28 IPOs would now be worth £32,811, whereas a £1,000 investment [...]
Pace’s share price surges as US Department of Justice closes investigation into merger with Arris December 2, 2015 Pace, the set-top box maker, helped lift the FTSE 250, with shares rallying after the US Department of Justice (DoJ) closed its investigation into Arris' acquisition of the company. Pace's shares rose 7.61 per cent to 435.35p in early afternoon trading. The DoJ had previously requested information and was investigating the combined businesses position in "optical transmission", which had [...]
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 [...]