Rental app Movebubble wins £1.1m funding from investors including former Spotify boss February 17, 2016 A start-up that has designed an app dedicated to renters searching for a new pad in London has won £1.1m backing from a group of investors including the former boss of Spotfify. Movebubble, which launched in November last year, lists thousands of properties available in the capital whilst also helping renters to book and manage viewings. The app allows people to [...]
Barclays’ investment bank chief Tom King could be set to retire next month February 17, 2016 Tom King, head of Barclays' investment bank, is reportedly planning to retire as early as next month. King, who is based in New York and has worked for Barclays since 2009, has long been expected to step down from his post at the top of the bank's investment banking business, but multiple media reports out [...]
Dr Pepper Snapple shares lose their fizz after firm delivers downbeat profit outlook February 17, 2016 Dr Pepper Snapple Group disappointed investors with a warning that full-year profit for 2016 could fall short of expectations. The company, which owns the Schweppes, Canada Dry and Snapple brands among others, reported profit of $936m (£654m) for the fourth quarter of 2015, up from $895m in the same period of the previous year. For the year, [...]
Fox’s Biscuits in line for a Jammie deal as Wagon Wheels maker Burton’s eyes a sweet treat February 17, 2016 Ontario Teachers' Pension Plan, owner of Burton's, the biscuit company behind British favourites such as Jammie Dodgers, Wagon Wheels and Maryland cookies, is reportedly in talks to buy rival Fox's Biscuits. Rothschild has been brought in to advise on the sale, which could see Fox's, the firm that makes Party Rings and Rocky biscuits, valued at [...]
At the close: FTSE storms over 6,000 in shock four day nine per cent rally as share prices stay volatile February 17, 2016 The FTSE 100 has smashed through the 6,000 barrier, less than a week after falling to lows of just over 5,500. The top share index closed at 6,030.32, up 2.9 per cent on the day, adding over nine per cent in the last four trading sessions. The rebound comes amid recent extreme market volatility across Europe's stock markets, [...]
Department store chain BHS secures loan from former Blockbuster owners February 17, 2016 The owners of BHS are understood to have secured a £10m loan from US turnaround specialist Gordon Brothers, as it attempts to turn itself around and expand its fledgling food business. Documents filed on Companies House show that a subsidiary of Gordon Brothers has been granted a legal charge over BHS' leasehold store at Cribbs Causeway shopping centre in [...]
HealthCare Royalty Trust takes aim at £200m IPO February 17, 2016 HealthCare Royalty Trust, an investment company that targets healthcare royalties has announced it will float on the London Stock Exchange, aiming to for a dividend yield of six per cent and hoping to raise £200m. The net total return, including share price appreciation is planned to increase to 10 per cent in the medium term. The firm [...]
US industrial production starts 2016 in better shape as manufacturing and utilities pick up February 17, 2016 US industrial production was 0.7 per cent lower in the January than in the same month last year, according to figures released by the Federal Reserve today. While the data shows a third month of annual contraction, it is a slower rate than December's 1.8 per cent. Manufacturing, the biggest sub-sector of industrial production, climbed 1.2 [...]
UK housing crisis: The next problem area will be retirement homes February 17, 2016 Talk of the housing crisis conjures up images of first time buyers trapped by sky high prices, as their income is syphoned off into rent. But alongside the cash-strapped "generation rent", there's another age group at risk: the next crisis may well be in retirement homes. At the heart of the difficulties in residential care lies [...]
Oil production freeze: Iran rebuffs Opec petition for an output cut February 17, 2016 Iran has reportedly rejected requests from oil cartel Opec to cut its production, shortly after oil ministers from Saudi Arabia, Iraq, Qatar, and Venezuela landed in the country to carry out talks. Iranian oil minister Bijan Zanganeh said Iran would resist any plan to rein in its oil output, Reuters reported. Venezuelan's Eulogio Del Pino, Iraq's [...]