PwC: Investment in UK-held assets will account for more than half of all investment across Europe November 9, 2015 British banks are leading the way in disposing of unwanted loan portfolios, according to a new report out today from PwC. Analysts from PwC’s portfolio advisory group found that European banks are disposing of unwanted loan portfolios at record rates and performing portfolios are becoming increasing popular, with investment in UK-held assets accounting for more [...]
Capital & Counties eyes sale of £300m Olympia exhibition centre November 8, 2015 The Olympia exhibition centre in West London is being prepped for a £300m sale by its owners Capital & Counties (Capco). The FTSE 250 property company, which is behind the £8bn regeneration of Earl’s Court, confirmed it has hired agents at CBRE and investment bank Rothschild to explore options for the events venue. “Following the successful [...]
Sainsbury’s counts the cost of supermarket price war November 8, 2015 Sainsbury's is expected to unveil a near 25 per cent slide in first half underlying profits on Wednesday, as efforts to compete with rivals and stay ahead in the supermarket price war hurt margins. Analysts at Barclays expect margins to fall by 60 basis points to 2.5 per cent and underlying profit before tax to decline by [...]
Retailers in focus as season winds down – New York Report November 8, 2015 A cloud of pessimism may have burned off for many investors on a bright October US jobs report on Friday, but much of the global economy – including China, which not long ago was a top worry for the US Federal Reserve – remains vulnerable. With markets having swung in just a few weeks from [...]
TalkTalk is set to ditch its dividend following recent cyber security breach November 8, 2015 Crisis hit home broadband company TalkTalk is expected to axe its dividend this week when it reports half year results on Wednesday. The company’s finances are under fierce scrutiny following a cyber security breach which compromised the personal details of over 150,000 customers. "It's more about the signal this sends,” XTB director Joshua Raymond warned on [...]
Lufthansa strike: Nearly 1,000 flights to be cancelled tomorrow as German airline cabin crew row continues November 8, 2015 More than 110,000 passengers will be affected after German airline giant Lufthansa said today it would cancel 929 flights due to a cabin crew strike tomorrow. The strike is part of a week of action organised by cabin crew union UFO to push demands in a long-running row over early retirement benefits and pensions. The [...]
Lonmin set to reveal record losses as it pins hopes on rescue rights issue amid low platinum prices November 8, 2015 Troubled mining company Lonmin is expected to reveal record losses tomorrow, when it publishes its annual results. The firm has warned that it is facing a $2bn (£1.3bn) writedown as the price of platinum could remain low in the short-to-medium term. It has come up with a plan to weather this storm, which includes possible [...]
Tata Steel criticised by small businesses after asking suppliers for 30 per cent price cut November 8, 2015 Embattled Tata Steel has drawn criticism from small businesses after asking suppliers to give it a massive price cut. According to the letter seen by the Sunday Telegraph, it has asked for an immediate 10 per cent cut which it plans to increase 30 per cent as it tries to pass on the effects of [...]
McLaren plans for 2016 rebound as it posts £20m loss in 2014 November 8, 2015 McLaren made a loss last year, according to financial results released this month. The company, which changed its name to McLaren Technology Group in January, turned over £265m in 2014 but ended up making a loss of £20m compared with a £23m profit in 2014. The name change was done to reflect the company’s foray [...]
In pictures: The Paris Airshow 2015 November 8, 2015 The Paris Air Show, which takes place in Le Bourget Airport, will see 120 civil and military aircraft take to the skies between 15 – 21 June. But that's not all. It brings together representatives from plane manufacturers, engine makers, defence personnel, luxury private carriers and airlines to get a number of deals signed off. Yesterday, [...]