Ryanair share price rises with airline expecting full year profits and traffic numbers to fly November 2, 2015 Profits are soaring for Ryanair, as the low-cost airline expects full year profits to reach the upper end of a range which was recently adjusted upwards. The figures Half year profits jumped 37 per cent to €1.09bn (£780m) in the first half to 31 October. Revenue was €4.04bn, up 14 per cent from the same period last [...]
HSBC share price down sinks despite smashes expectations and shrugging off China slowdown – but no news on headquarters move November 2, 2015 HSBC has beaten expectations for profits in the third quarter, shrugging off the slowdown in China. The figures The UK’s biggest bank reported a jump in pre-tax profit to $6.1bn (£3.95bn) for the third quarter, from $4.6bn during the same period last year. This outstripped most analysts’ expectations, which hovered around $5.2bn. Revenues, however, fell four per cent year-on-year, [...]
HMV and Game steal entertainment market share from Amazon in run-up to Black Friday 2015 UK sales November 2, 2015 HMV, Game Digital and Argos staged a comeback in the last three months after growing sales of video games, CDs and DVDs at the expense of their online rival Amazon. Figures released this morning by Kantar Worldpanel show that Amazon’s share of the physical entertainment market shrank by 1.2 percentage points (pp) in the 12 [...]
Morrisons supermarket takes a bite out of £3bn sandwich market November 2, 2015 Morrisons is going head-to-head high street chains such as Pret a Manger and EAT by launching its own range freshly made sandwiches, as the embattled chain looks to revive sales at its stores. Britain’s food-to-go market is expanding rapidly along with changing consumer habits and is now worth around £6bn, with the sandwich market worth around [...]
Italy’s Franklin & Marshall to launch its second London store November 2, 2015 Vintage Italian sports retailer Franklin & Marshall is to open its second UK store in Wembley Park’s London Designer Outlet (LDO) next month after launching its debut store in Covent Garden last year. The company, known for its varsity jackets and vintage polo shirts, announced today that it will open a 1,301 square feet outlet [...]
Prime residential London rents post sharpest annual fall in two years November 2, 2015 PRIME central London residential rents reported their steepest monthly decline in two years in October, research out today claims. Knight Frank’s latest monthly index released today shows rental values fell by 0.5 per cent compared with the previous month and slowed to 1.5 per cent growth year-on-year. That compares with May’s three-year high of 4.5 [...]
Standard Chartered results 2015: Asia-facing bank to post third-quarter performance amid capital-raising reports November 2, 2015 Standard Chartered is expected to post another drop in profits tomorrow, as new chief executive Bill Winters struggles to turn around the ailing Asia-facing bank. The results come amid increased speculation that Standard Chartered is looking to raise at least $4bn (£2.59bn) from investors. Bloomberg first reported last week that Standard Chartered management had met [...]
New Linklaters report: European banks face major credit risks over bad loans November 2, 2015 European banks are still holding onto an estimated €826bn (£588bn) of non-performing loans, despite increased oversight, according to a new report out today. Global law firm Linklaters estimated that since the European Central Bank (ECB) introduced its Single Supervisory Mechanism (SSM) last November, non-performing loan (NPL) volumes across European banks have remained high, reducing only [...]
HSBC third-quarter results 2015: Investors await details on bank’s restructuring and relocation November 2, 2015 Investors will be looking for further indications of whether HSBC will relocate from London when Britain’s biggest bank reveals its third-quarter results today. It was reported last week that HSBC was considering moving its headquarters to the United States, rather than Hong Kong as previously anticipated. Management are expected to update investors on the review [...]
Selfridges’ tills ring with record full-year profits November 1, 2015 Selfridges has post record profits of £155m for last year as the upmarket department store chain pushed ahead with its online expansion overseas and expanded its UK stores. The retailer, which has just unveiled its famous Christmas window displays on Oxford Street – this year inspired by the 12 signs of the zodiac – said [...]