Why taking a selfie is going to start costing you money as MasterCard brings “selfie pay”, its facial recognition payment software, to the UK February 22, 2016 Now there's a less vain reason to take a selfie: MasterCard is bringing facial recognition payment services, dubbed "selfie pay", to the UK. The company has already trialled the technology in pilot schemes in the US and Netherlands, ahead of a launch in 14 other countries this summer. (Rumours Kim Kardashian was the first person [...]
EU referendum: The economic costs of a Brexit will outweigh benefits as trading is hit, says Moody’s February 22, 2016 Ratings giant Moody's has warned that a Brexit could automatically lead to the UK's credit rating being put on a negative outlook – because the "costs would outweigh the benefits" of an exit from the EU. "In our view, a decision to leave the EU would be credit negative for the UK economy," said Kathrin Muehlbronner, a [...]
HSBC share price slides as it posts surprise dip in profits February 22, 2016 Admittedly, it hasn't been the easiest year for HSBC – but analysts were nonetheless taken by surprise when it posted a 1.2 per cent decline in net profit for 2015. The figures Net profits fell to $13.52bn (£9.52bn) in the year to the end of December, down 1.2 per cent from $13.69bn last year. Meanwhile, pre-tax profits rose one per cent to $18.9bn, from $18.7bn last year – [...]
Bumper year for Bovis Homes as house price growth boosts profits by 20 per cent February 22, 2016 Housebuilder Bovis Homes said house price growth helped it deliver bumper profits in 2015. The figures Revenues in the year to the end of December rose 17 per cent to £946.5m, from £809.4m last year – while pre-tax profits rose 20 per cent to £160.1m, from £133.5m. It said it had been bossed by a strong increase in average sales price, which grew seven per [...]
HSBC’s share price falls after revealing it’s being probed by SEC over so-called princeling hiring practices in Asia February 22, 2016 HSBC is being investigated by the US Securities and Exchange Commission (SEC) over nepotistic hiring practices, it revealed this morning. HSBC's share price was down 3.6 per cent in early trading. The bank, which today posted worse-than-expected figures for 2015, admitted it was one of many financial institutions being probed by the US watchdog over "hiring [...]
Primark parent Associated British Foods says half year figures will be better than expected as currency headaches lift February 22, 2016 Primark parent company Associated British Foods has said its half year results should come in slightly better than expected, as currency woes have partially lifted. The group said it expected "some progress" in adjusted operating profit for the six months to 27 February, but said adjusted earnings per share would come in slightly lower – a [...]
EU referendum: Brexit will affect business, sterling and interest rates – bond and equity investors must diversify now February 22, 2016 The date of the EU referendum has been announced and battle lines have been drawn over who is in the Remain camp and who is for Brexit. In fact, many MPs have made their stance clear – so now it's just down to the voting public to decide come 23 June. Commentators have been quick [...]
Stella McCartney, Huge Boss and Yoox Net-a-Porter in talks to move to Stanhope and Mitsui’s White City Place February 22, 2016 Three leading fashion brands are in talks to move their London headquarters to new offices being developed inside the former BBC Media Village in White City, City A.M. understands. Designers Stella McCartney, Hugo Boss and online fashion website Yoox Net-a-Porter have separately approached developers Stanhope and Mitsui about taking office space inside White City Place. [...]
West End residential sales jump despite stamp duty fears, says CBRE February 22, 2016 CBRE said it has seen no let-up in demand for homes in London’s West End despite concerns over stamp duty reforms and that overseas demand may be slowing. A third of homes (33 per cent) sold by CBRE in the fourth quarter reached prices of more than £2,250 per square feet, which was 23 per [...]
These are the best UK brands for 2016: British Airways tops list with Rolex, Dyson and Google behind February 22, 2016 An annual survey of brands has named the top 20 consumer Superbrands, with airline British Airways retaining the top stop and BBC falling out of the top 20 for the first time. British Airways fended off nearly 1,600 brands to claim the top spot for the third year, while Lego, Rolex and Dyson mounted a [...]