£1bn IPO is finally on for retirement housebuilder McCarthy & Stone October 14, 2015 After years of rumours, retirement housebuilder McCarthy & Stone finally announced its intention to float on the London Stock Exchange today, an IPO which City A.M. understands could give the company a valuation of £1bn. McCarthy & Stone, which said it has a 70 per cent share of the UK's owner-occupied retirement property market, hopes to [...]
Domino’s is looking tasty as sales leap by 19 per cent October 14, 2015 Domino’s sales are looking tasty, after the pizza maker’s revenues jumped by double digits for the eighth consecutive quarter. The company's third quarter sales rose 19.4 per cent in the three months to the end of September, leaping from £179.6m to £214.5m, according to a trading statement released this morning. This growth was powered by digital investments in [...]
Short sellers are circling asset managers Aberdeen and Ashmore because of their emerging markets exposure October 14, 2015 Hedge funds are circling asset managers such as Aberdeen, Ashmore, Hargreaves Lansdown and BlackRock in the belief that turbulence in the emerging markets will eat into their profitability. Emerging markets, once a bright spark of the global economy, have struggled over the last few years. Commodity prices have crumbled on the back of weak Chinese demand, [...]
Fresnillo share price rises depsite silver production lagging October 14, 2015 Fresnillo’s silver production is dropping, as a production report for the third quarter showed the ore volume at its biggest silver mine lagging. Production at the FTSE-listed miner’s Fresnillo mine in Mexico dropped by 24 per cent, weighing on the company’s total silver production, which was down by 1.3 per cent over the quarter. The [...]
London property: Four in five Londoners think house prices are too expensive, ING says October 14, 2015 More than 80 per cent of Londoners think house prices are too expensive and overwhelming majority believe it is becoming increasingly difficult for first-time buyers to get a foot onto the property ladder, according to new research released today. The Dutch banking giant ING’s house price optimism index, which surveys over 15,000 people, found that the [...]
Diageo sells wine brands including Blossom Hill to Australian group Treasury Wine Estates for $552m October 13, 2015 Diageo has agreed to sell its major wine interests, including UK brand Blossom Hill, to Australian firm Treasury Wine Estates for $552m (£362m). The drinks company will offload its UK-based Percy Fox business, which also includes the Piat d'Or brand, as well as US-based Chateau and Estate Wines, in a deal expected to conclude by [...]
JPMorgan reports third quarter profits up 22 per cent due to tax benefits October 13, 2015 JPMorgan Chase & Co. has reported third quarter profits rising 22 per cent due to $2.2bn (£1.44bn) in tax benefits. The company said in a statement that the quarter reflected the tax benefits "due to the resolution of tax audits and the release of deferred taxes". Net income rose 22 per cent to $6.8bn from [...]
Cammell Laird beats off rivals to win £200m Polar research ship deal October 13, 2015 Cammell Laird has won a government contract to build a state-of-the-art £200m polar research ship, securing hundreds of jobs at its Birkenhead shipyard in Merseyside. The 187 year-old company beat off competition from rivals in Europe and the far east to win the deal to build what the government claims will be one of the [...]
SABMiller and AB InBev merger: Don’t be surprised if your favourite “craft beer” brand is now owned by the world’s largest brewer October 13, 2015 You know that delicious craft ale you enjoy? There's a chance it's now owned by the world's largest brewer, after SABMiller and AB InBev agreed the terms on a deal to create an $11bn megabrewer, with SABMiller submitting to an offer of £44 per share. Between them, the two companies 224 beer brands, including some of [...]
Barclays on Jes Staley appointment: “We haven’t hired a new chief executive yet” October 13, 2015 Almost 24 hours after it was first hinted at, Barclays has finally issued a statement – insisting it hasn't hired Jes Staley as its new chief executive. In a stock market notification today, it said the process of hiring a new boss "has not yet concluded", adding that the company "will provide a further update [...]