Class action suit brought against Barclays, BNP Paribas and eight more November 26, 2015 Big-name banks including Goldman Sachs, Barclays, UBS and the Royal Bank of Scotland have been accused of conspiring to limit competition by a pension fund in the US. The class action lawsuit filed yesterday says that the banks, which also include Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse Group, BNP Paribas and [...]
Shares rise at travel caterer SSP as summer holiday-makers boost profits November 26, 2015 Travel catering giant SSP posted a surge in full-year profits thanks to a rise in customers dining at their airport restaurants and cafes this summer before jetting off on holiday. The FTSE 250 company also paid its first full year dividend to 4.3 pence per share since its £1bn debut on the London stock market last [...]
Quindell share price rises slightly as it says trading to be suspended as court hearing looms November 26, 2015 Shares in embattled Quindell will be suspended from trading next month, to avoid wild price swings ahead of a hefty payout to its shareholders as well as a court hearing. Quindell said shares will be suspended from 7.30am on December 16 to the market opening on Monday 21. "Due to the gap between the record [...]
Property grandee Mike Slade to step down as chief executive of Helical Bar November 26, 2015 Property grandee Mike Slade has announced he will step down as chief executive of FTSE 250 developer Helical Bar next year after more than three decades at the helm. Slade is one of the industry’s jolliest characters, who is as likely to be found racing his yacht the Leopard as he is in his company’s [...]
More cost cutting to come at Charles Stanley November 26, 2015 Costs will continue to be cut at broker Charles Stanley as it works to transform itself into a holistic wealth manager over the next three to five years. The news of further cuts comes as the company reports its half yearly results, with profit at its core business up 200 per cent to £3m. Chief executive [...]
Quindell buyer Slater & Gordon share price halves after George Osborne reveals plans to overhaul to personal injury law November 26, 2015 Slater & Gordon shares crashed today, leading the company to lose half of its stock market value, following changes to UK personal injury law. Shares in the Australia-listed law group, which snapped up Quindell's legal arm earlier this year, were down 51.4 per cent to 0.94 AUD at the close. It came after the UK government [...]
Barclays fined £72m by Financial Conduct Authority for failing to undertake proper financial crime checks – but share price is up November 26, 2015 The Financial Conduct Authority (FCA) today announced it was fining Barclays £72m for "failing to minimise the risk it may have been used to facilitate financial crime." In 2011 and 2012 Barclays oversaw a £1.88bn transaction between a number of "politically exposed" ultra-high net worth individuals, who are seen to be especially vulnerable to the risk of [...]
FTSE 100 index opens up on miners November 26, 2015 The FTSE 100 opened slightly up this morning as miners made gains as trading began. The UK's top blue-chip index was up 0.33 per cent at 6,358 points as the market opened. Glencore led the pack higher, up 3.29 per cent to 93.6p on opening, while other miners including Antofagasta and Anglo American were also rising. Read [...]
Severn Trent share price rises as first half profit inches up as customer complaints fall November 26, 2015 The figures Utility firm Severn Trent's group turnover was broadly flat at £896.1m in the six months to September 30, from a restated £898.3m during the same period a year earlier. The FTSE 100-listed company's underlying profit before interest and tax – another measure of profitability – increased by 2.6 per cent to £281m, up from £273.8m a [...]
DMGT sells Wowcher to new company owned by private equity firm Exponent for £29m November 26, 2015 The Daily Mail General Trust has offloaded discounts business Wowcher to a newly-formed company, which is majority owned by private equity firm Exponent. DMGT will retain a stake in Wowcher, which has achieved its first full year of operating profits in the 12 months to September 30 and generated revenues of £30m, through a 30 per [...]