Implats warns on lower earnings due to lower platinum price February 15, 2016 Impala Platinum, the world's second largest platinum miner, today warned that its basic earnings per share for the half year ended 31 December 2015 is expected to be 15-30 per cent lower than the same period the previous year, coming in at between 29 and 35 cents. Headline earnings per share are set to come [...]
Bank of England not out of ammunition, says Ian McCafferty February 15, 2016 The Bank of England could cut interest rates into negative territory or resume its bond-buying programme if the economy were to slow, one of its officials has said. “I certainly don’t believe we are out of ammunition,” rate-setter Ian McCafferty told the Wall Street Journal today. McCafferty voted to keep interest rates at 0.5 per cent this [...]
Hornby’s share price soars more than 35 per cent as chief executive Richard Ames leaves following profit warnings February 15, 2016 Hornby's share price has soared more than 35 per cent today, after revealing chief executive Richard Ames was leaving the business with immediate effect. Ames stepped down after the toymaker was forced to issue yet another profit warning and admission it could breach its banking covenants last week, prompting the share price to collapse. Chairman Roger Canham [...]
City of London Investment Group share price up despite drop in profit and funds under management because of turbulence in emerging markets February 15, 2016 Share price in City of London Investment Group rose today despite the company announcing a fall in profits at its half-year results. The fund manager reported profit before tax of £3.6m for the six months ended December 2015, down from £4.3m for the same period the year before, while funds under management dropped to $3.8bn (£2.6bn), [...]
Death of the high street? Don’t be so sure – bricks and mortar shopping still matters February 15, 2016 The ‘death of the high street’ has been a favoured headline for years now, but is yet to actually materialise. Online is certainly growing – on that we can all agree – but we shouldn’t be too hasty in declaring that this is at the expense of everything else. Indeed, new data today from the British Retail [...]
HSBC’s decision to stay in London is great for the UK, the capital and the kick-start London’s financial services needs February 15, 2016 It comes as a welcome relief that HSBC has taken the decision to maintain its headquarter status in London. Its towering Canada Square, Canary Wharf presence allows the famous HSBC sign to be seen from some distance away. It is therefore, great news that this will remain intact. There are a number of reasons why [...]
London house prices: South Ruislip the hottest property spot on the Tube map as Crossrail boosts prices in Zones Three and Four February 15, 2016 When you're thinking of the hottest property spots in London, Hillingdon's finest South Ruislip might not be the first location to pass your lips. But the Zone Five station has named London's most in-demand neighbourhood out of the 280 Tube stations on the network, with 75 per cent of available properties selling within the last three [...]
Mario Draghi says ECB is “ready to do its part” on economy as he tries to dampen fears over health of European banks February 15, 2016 European Central Bank (ECB) chief Mario Draghi has signalled that further monetary policy easing is likely in March. "A general deterioration in market sentiment has taken root and has gathered pace over the last week," he told European Parliament today. "Activity and trade data have been weaker than expected, turbulence in financial markets has intensified and [...]
Centrica, E.ON and EDF: Moody’s puts 10 European utilities companies on negative watch February 15, 2016 Credit ratings agency Moody’s has put 10 European utilities companies on negative watch, as they must contend with a harsher business environment amid tumbling commodity prices and ultra-low wholesale power prices. It includes London-listed Centrica, which the ratings agency said is vulnerable to low prices through its exposure to gas production and electricity generation. Big [...]
Hammerson goes halves with Canadian pension fund over Birmingham’s Grand Central shopping centre as profits jump February 15, 2016 Retail landlord Hammerson has struck a deal to sell half of Grand Central shopping centre in Birmingham to one of Canada's biggest pension funds, as it reported a jump in full-year profits. The FTSE 100 company, which already owns Birmingham's other well-known shopping centre, The Bullring, bought Grand Central last month for £335m from Birmingham City [...]