Shares in Pets at Home slide as it warns of living wage cost November 24, 2015 Shares in Pets at Home closed down 2.3 per cent after the company warned of higher costs due to the introduction of the National Living Wage next year. The company, which has 405 shops as well as 353 veterinary practices and 191 grooming salons, said George Osborne's new wage of £7.20 per hour, which is being [...]
CMC Markets IPO around March 2016 November 24, 2015 The long awaited floatation of financial spread betting company CMC Markets won’t happen before March 2016, chief executive Peter Cruddas tells City A.M., following the company publishing a strong set of half year results. Earlier this year CMC hired city bankers Goldman Sachs and Morgan Stanley to bring the company to market amid rumours the float [...]
Now Lidl’s getting into the online grocery delivery business after Amazon Fresh’s UK debut and Aldi’s plans, taking on Tesco, Sainsbury’s, Asda and Morrisons November 24, 2015 Fresh from Amazon's launch into the highly competitive grocery delivery game with Pantry, is fellow supermarket disrupter Lidl about to follow suit? The German discounter, which is already giving the big four a run for their money in bricks and mortar, has snapped up a fresh food delivery startup in its home country. Kochzaube, which delivers fresh [...]
Bond movie Spectre boosts bottom line for Cineworld, as revenues up 11.9 per cent in most recent results November 24, 2015 Cineworld Group today unveiled a 11.9 per cent increase in total revenues for its 46 weeks to 19 November 2015. The cinema chain also reported growth of 10.8 per cent in box office takings, thanks in particular to the release of the latest Bond film Spectre. Speaking to City A.M., Israel Greidinger, Cineworld’s deputy chief [...]
Glencore cuts 4,300 jobs at its Zambia copper mining unit November 24, 2015 Glencore has reportedly slashed 4,300 jobs at one of its mines in Zambia, as part of the commodties miner and trader drive to weather the global commodities rout. In a letter dated October 21, the London-listed company said it's still losing millions of dollars and must take action to ensure its long term viability. "The company started [...]
Apple Pay launch date: Mobile payment service to land in China in February 2016 November 24, 2015 Tech giant Apple's eponymous mobile payment service, Apple Pay, is reportedly coming to China in early February, further capitalising on the boom in mobile and contactless payments among consumers. The company has agreed deals recently with China's big four state-run banks, according to a report by the WSJ. It didn't say how much Apple would charge for [...]
Glencore, BHP Billiton, Anglo American: Failing to plan for climate change could cost mining companies $10 billion November 24, 2015 Mining companies who fail to adequately prepare for climate change could collectively face costs of $10bn (£6.6bn), or 15 per cent of their earnings, if a carbon price is introduced, according to a new report. The report by environmental NGO CDP, analysing metal and mining companies with a total market capitalisation of $329bn, said the companies accounted for about [...]
FTSE 100 index opens down on Kingfisher, Pearson and tourism November 24, 2015 The FTSE 100 opened down this morning, led lower by airline stocks, InterContinental Hotels and Pearson. The UK's top blue-chip index was 0.63 per cent down at 6,265 points as the market opened. Read more: Rolls-Royce revs up for restructure InterContinental Hotels Group and International Consolidated Airlines Group (IAG) also suffered losses, with the former falling [...]
Shaftesbury continues to be buoyed by London’s West End property market November 24, 2015 London's residential property market might be cooling, but the commercial sector is showing no signs of slowing down with landlord Shaftesbury reporting strong growth for the full year. The figures Shaftesbury's net asset value per share rose 21.9 per cent to £8.69 in the year to September 30, up from £7.13 a year earlier. Earnings at the [...]
Banking on beds pays off for Ikea UK as annual sales rise to £1.6bn and market share grows to 7.7 per cent November 24, 2015 Retailer Ikea has remained popular on British shores, with Ikea UK today revealing annual sales of £1.6bn for the financial year ended 31 August 2015, up 11 per cent. “We are delighted to have achieved double digit growth for the second year running and to be in our fourth consecutive year of growth here in [...]