M&G Investments completes £247m refinancing for 33 Lightsource solar parks November 4, 2015 M&G Investments, Prudential's European asset-management arm, has completed a £247m refinancing for 33 solar parks. The deal with European solar energy company Lightsource is a 22-year, inflation-linked senior financing (which has repayment priority over other lenders) and brings M&G’s debt investment in the sector to over £385m in the past 12 months. Lightsource has raised [...]
OneSavings Bank results: challenger bank reports a rise in its loan book November 4, 2015 Challenger OneSavings Bank reported a rise in its loan book for the first three quarters today, saying it continued to expect full-year growth to be a “few percentage points ahead” of the 29 per cent growth delivered last year. The specialist lending and retail savings bank first listed on the London Stock Exchange last year. The [...]
Andrew Tyrie criticises CMA retail banking review November 4, 2015 The chairman of an influential parliamentary committee has sharply criticised the Competition and Markets Authority (CMA) over its retail banking probe, accusing the competition watchdog of "downplay[ing] the problems created by free-in-credit banking". “The public have concluded that they have been ripped off by banks for years, and there is a good deal of evidence [...]
At the close: Mining companies Glencore, Anglo American and BHP Billiton take FTSE 100 higher November 4, 2015 The FTSE 100 ended Wednesday's session slightly higher, led by gains in mining companies. The UK's top blue chip index ended the day 0.46 per cent up at 6,412 points. The day's biggest riser was Glencore, the embattled mining giant, which has been struggling to reassure investors worried about the size of its debt pile. It today announced a [...]
Facebook director Marc Andressen offloads $32m of shares ahead of results November 4, 2015 Facebook board member and serial tech investor Marc Andressen has sold off 300,000 Facebook shares valued at $32m (£20m) ahead of the social media giant’s latest quarterly results. The move has sparked concerns that Andressen has a negative outlook on the value of Facebook stock. The 11-year old company is expected to report strong third-quarter [...]
Happy hour for Fever-Tree as tonic maker hikes full-year guidance November 4, 2015 Fever-Tree shares have rallied more than 13 per cent after the posh tonic water manufacturer raised its full-year guidance on the back of strong sales. The UK-based brand, which floated on Aim last year, said it anticipates results for the full-year to be “materially ahead” of expectations following “encouraging” sales both at home and overseas. [...]
Payday lender CashEuroNet UK agrees with FCA to compensate nearly 4,000 customers to the value of £1.7m November 4, 2015 CashEuroNet UK, which trades as Quick Quid and Pounds to Pocket, has agreed with the Financial Conduct Authority (FCA) to compensate nearly 4,000 customers to the value of £1.7m. The payday lender has agreed that 2,523 customers will have their loan balances written off, 961 will have interest paid on the unaffordable part of their [...]
National Grid orders generators to make more power after “multiple plant breakdowns” November 4, 2015 National Grid has asked the UK's power network to generate more electricity after "multiple plant breakdowns". The company issued a notice asking for more generation to be brought onto the system, saying an additional 500 MW were needed for between 4.30 and 6.30pm. National Grid has previously warned that the UK faced the "tightest winter [...]
Groupon’s share price is in freefall after posting disappointing results November 4, 2015 Groupon's share price has tumbled over 30 per cent as markets in America opened today, after having posted disappointing results yesterday. The online retailers share price was 30.65 per cent down as markets opened, at $2.80. Yesterday the company revelled its results for the third quarter of 2015, showing that revenues had dropped slightly to $713.6m (£462.9m), [...]
Tesla share price surges 10 per cent on open as firm reports jump in revenue November 4, 2015 Shares in Tesla Motors leapt up 10 per cent on market open today, after the firm reported revenue of $936.8m (£607.5m) for the third quarter of 2015, up 10 per cent from $851.8m in 2014, late last night. The company recorded net losses of $229.9m during the three months to 30 September, widening losses of $74.7m reported in the [...]