At the close: FTSE 100 up on banks following the Bank of England stress tests December 1, 2015 The FTSE 100 closed up today, led higher by banks after five of seven banks that took part in the Bank of England's stress tests passed. The UK's top blue-chip index rose 0.62 per cent, to 6,395 points. Five participating banks – Barclays, HSBC, Lloyds Banking Group, Santander UK and the Nationwide building society – all passed [...]
Topps Tiles profits rise by a fifth as homeowners go on shopping spree December 1, 2015 Topps Tiles said profits jumped by a fifth last year, thanks to a surge in people doing up their homes and the retailer’s own efforts to modernise its brand and its stores. The FTSE 250 retailer reported a 19.3 per cent jump in pre-tax profits to £20.4m in the year to 3 October. Revenue rose [...]
Moody’s says the outlook for 2016 is stable despite China slowdown and commodities and oil rout December 1, 2015 Despite the ongoing commodities route, falling oil prices and Chinese slowdown, Moody's is optimistic, and thinks the outlook in Europe is stable for 2016. Non-financial companies in Europe, the Middle East and Africa (EMEA) can look forward to increased consumer confidence, solid market liquidity, low default rates, and "sustained" though "slow" growth of around two per cent in Europe. The ratings agency [...]
Black Friday Cyber Monday 2015 UK sales figures are in: UK shoppers spent £3.3bn over the weekend December 1, 2015 Start popping those corks – Black Friday was just as big as everyone had hoped it would be. Black Friday cracked the £1bn sales mark for the first time ever and total sales over the shopping weekend totaled more than £3bn. In fact, shoppers spent £1.1bn, according to IMRG and Experian, which totted up the figures. That number comes [...]
Ryanair is suing Google over search results December 1, 2015 Ryanair is suing Google in Ireland following repeated requests to remove travel comparison site eDreams from search results for the airline. The Irish budget carrier claims eDreams is misleading customers due to similar website layouts. eDreams uses the URL Ryanair.EDreams.co.uk and sells tickets for Ryanair flights with added fees. It follows a successful move by the airline [...]
Insurance company Axa ventures further into India, increasing its stake in its joint venture December 1, 2015 Axa has today revealed that it is increasing its stake in its Indian joint venture companies. The insurer announced that it would be raising its holding in the life and general insurance ventures, Bharti AXA Life Insurance Co and Bharti AXA General Insurance Co, from 26 per cent to 49 per cent in a bid [...]
Marks & Spencer looks to solve legal wrangle with former landlord BNP Paribas December 1, 2015 It’s not just individuals that quibble with their landlords. Marks & Spencer (M&S) is tomorrow hoping to settle a long-running dispute with former landlord BNP Paribas over rent it claims to have overpaid on its old Paddington offices. In July 2011, the high street retailer exercised a break in its leases and served notice on four floors of [...]
St Modwen on track to hit profit targets thanks to New Covent Garden Market boost and regional revival December 1, 2015 St Modwen said it is on track hit full-year profit forecasts, spurred on the by ongoing recovery in the regions, strong investor demand, and a massive valuation gain from its New Covent Garden market scheme. The FTSE 250 company, which is redeveloping Britain’s biggest flower and vegetable market, said occupational demand for its offices in the [...]
Zurich boss Martin Senn steps down after 10 years with the company December 1, 2015 Zurich announced today that its chief executive Martin Senn is stepping down, leaving the company at the end of the year. Tom de Swaan, who has been a member of the company’s board of directors since 2006 and chairman since 2013, has been appointed interim chief executive. A permanent successor for Senn, who has spent [...]
Shares in Home Retail rally over Homebase bid rumours December 1, 2015 Shares in Home Retail Group rose more than three per cent yesterday on the back of reports that the former boss of Garden Centre Group is considering a bid for Homebase. Nicholas Marshall, who stepped down as chief executive of the rival garden retail chain – now called Wyevale Garden Centres – in 2012, told [...]