FTSE 100 index opens up as miners and ITV make gains while Associated British Foods, Rolls-Royce and Smith and Nephew fall December 21, 2015 The FTSE 100 index opened up this morning, as losses from Primark owner Associated British Foods (ABF) and Rolls-Royce were compensated for by gains at miners, BG Group and ITV. The UK's top blue-chip index was 0.64 per cent up at 6,052 points in early morning trading. BG Group was 0.97 per cent higher at 916.85p per share [...]
Beyond boom and bust: Interview with Herbert Smith Freehills’ UK head of corporate Ben Ward December 21, 2015 Ben Ward is not cautiously optimistic about the markets in 2016. He says that’s not positive enough – he’s really very optimistic, but insists that “sustainable growth” are his watchwords for 2016. Spoken like a true lawyer. Ward has just taken over as Herbert Smith Freehills’ (HSF) head of corporate in the UK, overseeing everything [...]
UK footfall slumps on Panic Saturday as online retailing wins over high street December 21, 2015 Footfall slumped across high streets and shopping centres this weekend as consumers took advantage of retailers offering even later deadlines for Christmas deliveries to shop online rather than venturing out in stores. The traditional stampede of customers on so-called Panic Saturday failed to materialise to the same extent as last year, with footfall down by [...]
Universal Credit will simplify the system but will not stop delays in benefit delivery, says Work and Pensions Select Committee report December 21, 2015 Universal Credit will help to simplify the benefit system and will be less likely to be subject to mistakes, but it may not stop delays in benefit delivery. A report published today by the Work and Pensions Select Committee has highlighted that the introduction of Universal Credit, which is designed to roll six separate benefits [...]
Shoppers feel flush in the run up to Christmas December 21, 2015 Consumer confidence has been growing in the run up to Christmas according to the latest survey from Lloyds Bank. The report shows the overall spending power index rose by three points in November, standing at 161. However, economic data from the bank shows year-on-year spending on essentials fell for the twelfth consecutive month in November, [...]
Row breaks out over closure of Redcar steel plant December 21, 2015 The government's handling of the closure of the Redcar SSI steel plant earlier this year has become the source of a row in the halls of Westminster. A report out today from the Business, Innovation and Skills (BIS) select committee found the government did not do enough to save the plant from closure at the [...]
State borrowing data to cast light on task ahead for chancellor December 20, 2015 Public borrowing figures this week will partly reveal the size of the boost needed in January to meet the government’s budget deficit target. The government borrowed £54.3bn between April and October, with most economists expecting chancellor George Osborne to miss the £68.9bn forecast by the Office for Budget Responsibility (OBR) for borrowing in the year to April [...]
Miner BHP Billiton considering dividend cut in face of continuing commodities rout December 20, 2015 Mining giant BHP Billiton is considering slashing its dividend in the new year, as the commodities rout shows no sign of abating. The Anglo-Australian group was placed on review facing a possible downgrade by ratings agency Moody’s, prompted by “the precipitous decline and persistent weakness in commodity prices”. Moody’s said it will specifically review BHP’s [...]
Shareholder dissatisfaction with bosses at Imagination Technologies December 20, 2015 Troubled mobile chip maker Imagination Technologies, which counts Apple among its top shareholders, is facing mounting criticism from investors following the firm's share price tumbling 50 per cent in two months. At the close on Friday the share price was trading around 135p, down from 247p in October. The share price hit highs of 712p [...]
Unfinished Berlin Brandenburg airport denies it will be another year late December 20, 2015 London is not the only capital city having trouble building up its airport capacity. With the debate raging over whether or not to build a third runway at Heathrow, a new airport in Berlin has had its opening pushed back into 2018. German newspaper Bild said a confidential schedule from the airport’s project management company [...]