House of Fraser reports strong Christmas trading period after first full year of being owned by Chinese conglomerate Sanpower January 11, 2016 House of Fraser appears to have shrugged off the festive blues plaguing other retailers, with sales up 5.3 per cent for the six weeks to 2 January. The figures The Chinese-owned department store, said it had had a strong Christmas trading period, starting with Black Friday, when sales were up 10 per cent on the previous [...]
Apple Music streaming service nabs 10m subscribers January 11, 2016 Apple Music now has 10m subscribers six months after it launched, it's been reported. The FT reported that the service, which was launched in June last year, rose despite a fall in global album sales. It's pretty good news for the service, which offered users a free three-month subscription when it was first unveiled. Set against [...]
Oil prices: Standard Life says it will vote against Royal Dutch Shell’s takeover of BG Group January 11, 2016 Standard Life plans to oppose Royal Dutch Shell's takeover of its smaller rival BG Group, saying that the £47bn mega-deal would not work in the current low oil price environment. Dave Cumming, head of equities at Standard Life, said that the fund manager plans to oppose the deal when it goes to a shareholder vote later this month. [...]
FTSE 100 index opens lower as concerns over the Chinese economy persist January 11, 2016 The FTSE 100 index opened lower today as fears over the state of the Chinese economy lingered on. The UK's blue-chip index fell 0.34 per cent to 5,891 points, led lower by oil companies and miners (again). The news followed another fall in Chinese markets, after weak inflation data was published over the weekend. "It feels as though [...]
Another bloodbath on Chinese markets as shares finish lower after weak inflation data January 11, 2016 Shares on Chinese markets fell again today, with the Shanghai Composite falling 5.33 per cent, while the Shenzhen Composite finished 6.6 per cent lower, after weak inflation data from over the weekend. That pushed Hong Kong's Hang Seng down 2.47 per cent, closing at 19,949 points – the first time it has fallen below 20,000 since 2013. [...]
Anglo American set to kick off $1bn sale of Brazilian business in bid to prop up balance sheet January 11, 2016 Anglo American is poised to kick off the $1bn (£680m) sale of its Brazilian niobium and phosphate business as the firm attempts to raise cash to prop up its ailing balance sheet. Facing a rapid decline in demand for commodities off the back of an economic slowdown in China, Anglo American said in December that it [...]
Retail bonds: What they offer small cap firms January 11, 2016 Launched in 2010 by the London Stock Exchange as part of its efforts to help firms find new ways to access capital, the UK retail bond market may still be comparatively new. But it has already shown itself to be an attractive way for small to mid cap companies, particularly those with a well recognised [...]
UK Christmas sales 2015: Online shoppers boost consumer spending in December January 11, 2016 More shoppers took to their mobiles and laptops to buy their Christmas presents this year instead of venturing out on the high street, new figures show helping to fuel a rise in consumer spending. Data compiled by Markit on behalf of Visa Europe found that spending growth rose to 2.3 per cent year-on-year in December, from [...]
Deal spree to provide relief to the City with Shire on verge of tie-up with Baxalta January 11, 2016 A string of mega deals is set to provide welcome relief to the City after a rocky start to the year saw £85bn wiped off the value of the UK’s biggest firms in the first trading week of 2016. London-listed pharmaceutical giant Shire is on the verge of inking a £22bn deal with US rival Baxalta, [...]
New Axa Insurance boss Amanda Blanc on the company’s plans for growth January 11, 2016 Amanda Blanc began the new year as chief executive of a reorganised Axa Insurance. Previously the head of Axa Commercial Lines and Personal Intermediary, as of 1 January Blanc has taken on responsibility for the French group’s insurance business in the UK and Ireland, a change that doesn’t seem to have phased her. “I feel like [...]