Glencore share price lifted by plans to slash zinc production by a third October 9, 2015 Glencore announced this morning that it plans to cut zinc production by 500,000 tonnes each year. The reduction, which will knock off around a third of the mining company's current zinc output, is taking place to counteract plummeting prices of the metal. Since May, zinc has lost around 30 per cent of its value. Shares [...]
Worldpay IPO draws near as price range narrows to 235-250p October 9, 2015 Payments processing company Worldpay’s IPO is drawing near, after the company narrowed its IPO price range to 235-250p in what will be the UK’s biggest float in two years. The company, owned by Advent International and Bain Capital, recently confirmed plans to raise £890m through a float on the London Stock Exchange in October. The news [...]
John Lewis and BlackRock to convert Beechwood shopping centre into £30m Cheltenham store October 9, 2015 Cheltenham's Beechwood shopping centre is being converted into a new £30m John Lewis department store, the retailer confirmed today. John Lewis, BlackRock and Cheltenham Borough Council are combining forces (and resources) to transform the centre – which is currently home to rival department store Debenhams and high street staple Next – over the next two [...]
Elon Musk: Apple hires the engineers Tesla fires October 9, 2015 Elon Musk has lashed out at Apple, suggesting the company is the “Tesla graveyard” which hires his company's rejects. The outspoken chief executive and billionaire investor has hit back at suggestions Apple has been pinching Tesla’s engineers as it pushes into the car sector, saying in an interview with German newspaper Handelsblatt that Apple is where you go [...]
USC workers win case against Mike Ashley’s Sports Direct October 9, 2015 Workers at fashion chain USC that was put into administration by parent company Sports Direct earlier this year have won a legal battle against the firm, giving them redundancy pay that could run into thousands of pounds each. Staff had complained that they were given just 15 minutes notice before they lost their jobs. In [...]
Lloyds share sale: More than 120,000 investors clamour for £2bn retail shares through Hargreaves Lansdown alone as Treasury reduces stake October 9, 2015 Demand for Lloyds Banking Group shares among individual investors is expected to dwarf that of Royal Mail's sell-off. Earlier this week, the government revealed plans for a £2bn retail sell off of shares, offering investors a discount of five per cent of market price. Those who keep their holding for more than a year will receive [...]
Dunelm share price climbs as furniture chain announces acquisition of pillow firm Fogarty October 8, 2015 Shares at Dunelm climbed higher yesterday after the furniture chain announced a rise in first quarter sales and announced it has acquired 200-year-old pillow group Fogarty. The FTSE 250 homeware retailer, which sells everything from curtains to bed linen, said like-for-like sales rose by 4.4 per cent to £171.8m in the three months to 3 October. [...]
City Moves for 09 October 2015 | Who’s switching jobs October 8, 2015 KNIGHT FRANK The property consultancy has announced the appointment of Rob Macnab as partner in its City leasing team. He joins from Kinney Green, where he was an equity partner specialising in the midtown office market. Macnab has worked for clients including O&H Group, Aberdeen Asset Management and DTZ IM. AXA INVESTMENT MANAGERS Tom Clapham [...]
Galliford Try share price rises as it wins contract for Luton and Dunstable University Hospital October 8, 2015 Galliford Try has stepped up its presence in the healthcare market after winning a contract to help with the £150m redevelopment of Luton and Dunstable University Hospital. The company's share price closed up by 1.01 per cent following the announcement. The housebuilder and construction group said has been appointed as preferred supply chain partner under ProCure [...]
Netflix share price jumps after reports that the company is hiking its prices October 8, 2015 Streaming giant Netflix is reportedly raising the price of its streaming subscription by $1, reports Bloomberg. This will put the company's most popular subscription plan at $9.99 a month. The move, which will affect new customers in the US, Canada and parts of Latin America, follows on a similar hike in Europe, where prices were [...]