GlaxoSmithKline revenue rises four per cent in 2015, forecasting further growth in 2016 February 3, 2016 Drug giant GlaxoSmithKline (GSK) has reported earnings for 2015 up four per cent on last year at £23.9bn, with a profit of £10.5bn. In the fourth quarter revenue rose by two per cent to £6.2bn, from £6.1bn in the same period a year earlier. Fourth quarter results came in broadly inline with expectations, mostly down to growing demand for [...]
Government to force councils to reveal empty properties as part of housing push February 3, 2016 Local authorities are to be forced to publicly disclose all the properties they own as part of government plans to make better use of public sector land and build more homes. Speaking at the Government Property Conference this morning, Cabinet Office minister Matthew Hancock said that through the Housing and Planning Bill councils will be [...]
UK adults expecting a big windfall from inheritance are set to be sorely disappointed, with one in ten mistakenly believing that the payout they predict will fund their retirement February 3, 2016 UK adults are routinely overestimating how much they stand to inherit, while also shunning valuable discussions about financial planning with older relatives. According to figures shown exclusively to City A.M. by VouchedFor, people expect to receive an average of £127,454 from inheritances, and one in ten believe that they are set to receive an inheritance [...]
Audioboom chosen as content provider for new Google Play app February 3, 2016 London-based streaming service Audioboom has just been selected for Google Play, making it the first non-US content provider for the app. A total of 12 producers have been chosen to create content for the Google Play app, currently being revamped ahead of its new launch later this month. We’re thrilled to be partnering with @GooglePlay & [...]
Top shareholder Old Mutual backs Sainsbury’s bid for Home Retail Group February 3, 2016 One of Home Retail Group's top shareholders has publicly backed Sainsbury's £1.3bn cash and shares offer for the Argos-owner, despite previously calling for a bid of at least 200p per share. Old Mutual, which owns a 3.6 per cent stake in Home Retail, making it the retailer's third largest shareholder, said it regards the latest offer by Sainsbury's [...]
Eurozone economy comes off the boil in January despite rebound in end-of-year retail sales February 3, 2016 The Eurozone's economic recovery slowed in January, but remains at a steady pace, new figures show today. Markit's economy-wide purchasing managers' index – compiled from a survey of firms – dropped to a score of 53.6 in January from the previous month's 54.2. While the figure is still above 50, which means the economy grew last month, it [...]
Boots drops prices on female-focused razors, eye cream and other products that cost women more than men February 3, 2016 Boots has caved into pressure from MPs, cutting prices on products that forced women to pay more than men. The high-street chain has changed the price tags on own-brand disposable razors and Botanics eye roll-on, after an online petition gathered more than 40,000 signatures. The Change.org campaign claimed women were being ripped off on the high street [...]
Pound rises as UK services PMI shows surprise rise in January February 3, 2016 The UK's services sector showed stronger growth than expected in January, Markit's purchasing managers' index showed today. The index showed a reading of 55.6, against expectations of 55.4 (any number above 50 denotes expansion). That caused the pound to spike 0.14 per cent against the dollar, rising to $1.4448, with economists suggesting the surprise jump will [...]
FTSE 100 index opens lower as oil prices continue to drag on investor sentiment February 3, 2016 The FTSE 100 index opened lower this morning as oil prices dragged down investor sentiment (again). The UK's blue-chip index opened 0.57 per cent down at 5,889 points, led lower by Hargreaves Lansdown and Barclays. "This fresh bout of oil price weakness appears to have been driven by the very same concerns that drove the decline in [...]
London property prices: There’s £1m difference between properties in Wembley Park and Finchley – but just eight minutes’ travel time February 3, 2016 Wrestling with the trade-off between commuting time and house prices? A new Tube map has been created giving prospective home-owners the skinny on where the best option might be – and where the biggest discrepancy on each line can be found. According to EMoov, one of the biggest differences can be found on the Jubilee Line, [...]