Uber boss Travis Kalanick says IPO is not on the near-term agenda March 28, 2016 Uber's chief executive Travis Kalanick has stated there are no plans to float the company on the stock market in the near future. The ride-hailing app firm's boss and co-founder told CNBC that he is "going to make sure [an IPO] happens as late as possible", adding that a flotation is definitely not going to happen [...]
Storm Katie keeps shoppers away from UK high street as footfall drops over Easter bank holiday March 28, 2016 Retail footfall across UK high streets, retail parks and shopping centres has dropped by as much as 10.5 per cent today as Storm Katie battered the UK and put people off venturing outside. The number of visitors to shopping centres and high streets fell by 16 per cent and 11.5 per cent respectively, according to retail analysts Springboard, [...]
UK house prices: St Ives in Cornwall is having a referendum on banning second homes March 28, 2016 There's an important referendum happening this summer. No, not that one. For the residents of the sunny seaside town of St Ives, as well as voting in the EU referendum, they will vote on something a little closer to home – whether to ban people who are not local to the area from owning property as a second home, many of [...]
Battle for Starwood Hotels & Resorts heats up after China’s Anbang outbids Marriott with $14bn offer March 28, 2016 Starwood Hotels & Resorts Worldwide said it has received a higher $14bn offer from a consortium led by China's Anbang Insurance, in a move that could scupper Marriott International's proposed merger with the hotel group. The US-listed company behind brands including W Hotels, Le Meridien and Sheraton, said that the Anbang group, which includes private equity firms JC Flowers and Primavera Capita, [...]
Revlon’s share price plunges as the make-up brand announces Colgate veteran as new chief executive March 28, 2016 Beauty products group Revlon is getting a makeover after announcing it has hired former Colgate-Palmolive executive Fabian T. Garcia as its new president and chief executive. Revlon has been on the hunt for a new boss after Lorenzo Delpani stepped down at the beginning of March, citing personal reasons. The company, which sells hair care treatments as well [...]
Core US prices maintain fast pace as personal income growth slows March 28, 2016 Growth in US consumer incomes slowed in February, according to figures released today. However, inflation is on course to rise toward the US Federal Reserve’s two per cent target this year, the data from the Bureau of Economic Analysis shows. Total personal incomes rose 0.2 per cent, marking a slowdown from January’s bumper 0.5 per [...]
Cosmetics group Avon Products calls a truce with activist investor Barington Capital March 28, 2016 Avon Products, the door-to-door cosmetics giant, said it has reached a peace deal with Barington Capital, allowing the activist shareholder to appoint an independent director to the board. Under the terms of the agreement, a Barington board member will have to be selected jointly by Avon and its top shareholder Cerberus Capital Management, which bought a majority stake [...]
Bank of England poised to announce new measures to clamp down on the buy-to-let market March 28, 2016 The Bank of England appears poised to introduce new rules to clamp down on the buy-to-let property market amid fears that the sector poses big risks to the UK economy. Chancellor George Osborne told MPs last week that it is “highly likely” that he will give the Bank’s Financial Policy Committee (FPC) powers over the buy-to-let [...]
UK pensions: Nearly one year on from the introduction of the pension freedoms rules, annuities remain popular March 28, 2016 Nearly one year on from the introduction of rules designed to revamp the pensions system, annuity sales have bounced back, research out today has found. The study by the Association of British Insurers (ABI) discovered that 21,200 annuity plans, worth £1.1bn, were purchased during the fourth quarter of 2015, while 61,700 annuities, worth £3.3bn, have been bought [...]
Soaring Madagascan vanilla price threatening to increase cost of ice creams March 26, 2016 Consumers may have noticed the price of their Easter eggs going up this year thanks to increasing sugar and chocolate prices. And now for some more bad news. The soaring cost of vanilla could push up the price of your ice cream this summer. Read more: Why your easter egg is more expensive this year Following a [...]