Petra Diamonds’ share price rallies as banks waive some debt covenants and it agrees to buy De Beers’ Kimberley Mines December 1, 2015 Petra Diamonds’ share price skyrocketed today on the confirmation of its Kimberley mine deal and news lenders had agreed to waive some covenant tests. The company’s shares closed up 12.63 per cent, at 72.25p per share, leading the FTSE 250 higher. The group of lenders, including Absa Bank, FirstRand Bank, IFC and Nedbank, told Petra Diamonds they were [...]
Star Wars: The Force Awakens and Bond’s Spectre blockbusters help Pinewood profits higher December 1, 2015 The double film bonanzas of the year, latest Bond instalment Spectre and the new Star Wars franchise The Force Awakens, have given UK film studio Pinewood a nice boost. The figures Profit before tax for the first half of the year was up 13 per cent to £4.3m while the group's operating profit rocketed 187 [...]
Broadband battles: BT and Virgin Media trade blows over the government’s broadband delivery scheme December 1, 2015 Join us for the latest act in the telco giant drama: Virgin Media has lashed out against the government’s broadband scheme, complaining it gives BT an unfair advantage to the tune of hundreds of millions of pounds out of taxpayers’ pockets. BT and the Department of Culture, Media and Sport (DCMS) have hit back at claims, [...]
Tandem digital bank granted licence by the Bank of England November 30, 2015 Another digital bank is has been granted a licence to operate in the UK. Tandem, a digital retail bank, has been given its licence by the Bank of England and will now begin the process of constructing its technology platform and meeting capital requirements. Ricky Knox, co-founder of Tandem, said: “We are very excited to [...]
Jupiter’s finance chief Philip Johnson to step down amid shake-up November 30, 2015 Jupiter Fund Management has announced that chief financial officer Philip Johnson is to step down due to changes to the asset manager’s executive committee. Johnson, who was part of the team that saw Jupiter float on the London Stock Exchange in June 2010, said it was a privilege to play a role in the company’s [...]
NHS junior doctor strike suspended as talks with government resume November 30, 2015 NHS junior doctors have called off tomorrow's strike after agreeing to resume talks with health secretary Jeremy Hunt over controversial changes to their contract. Thousands of junior doctors in England were set to walk out tomorrow as well as the 8 and 12 December over the government’s decision to impose a new contract on trainees. However, the [...]
Jaeger fails to shake off losses as private equity owner Better Capital explores sale November 30, 2015 Troubled fashion retailer Jaeger failed to shake off its losses last year, despite a rise in sales, as its private equity owner Better Capital attempts to revive its fortunes. The company reported a pre-tax loss of £7.9m in the year to 28 February 2015, down from £9.9m the previous year, accounts on Companies House show. [...]
At the close: FTSE 100 index closes down on Aberdeen Asset Management and BHP Billiton November 30, 2015 The FTSE 100 index closed down today, led lower by Aberdeen Asset Management and BHP Billiton. The UK's top blue-chip index ended Monday's session 0.3 per cent down, at 6,356 points. Aberdeen Asset Management's share price fell 4.6 per cent to 319.4p after having reported a 12.5 per cent fall in assets under management. The [...]
BHP Billiton shares plummet after Brazilian government says it will take legal action seeking $5.2bn in damages after the Samarco mine disaster November 30, 2015 Mining giant BHP Billiton is one of the FTSE 100's biggest fallers today, with shares trading down 3.39 per cent, at 778.70p, having fallen as low as 756.7p after Brazil said it would seek around $5.2bn (£3.5bn) in damages from BHP and Vale, co-owners of the Samarco mine, where 13 people were killed after a dam burst. BHP and [...]
Bring on ride-sharing: Uber’s about to launch UberPool in London – making journeys 25 per cent cheaper November 30, 2015 Uber will launch its ride-sharing service in London this Friday, the company said today – although it may be short-lived. The ride-hailing app, which has been heavily criticised by London's black cabbies, said its new service, UberPool, will give Londoners the option of sharing their journey with another passenger heading in the same direction at the same [...]