Marks and Spencer loses appeal against former landlord BNP Paribas December 2, 2015 You know that times are tough for retailers when they are prepared to fight for every penny they could put back in the piggy-bank. Marks and Spencer (M&S) has today lost a long-running battle against its former landlord BNP Paribas after the Supreme Court dismissed its appeal to claw back £1.1m of rent it claims it overpaid. In July 2011, [...]
Numis posts record £55.6m equity issuance and advisory revenues despite stock market volatility December 2, 2015 Numis chief executive Oliver Hemsley told City A.M. old fashioned voice-broking and research gave the mid-sized brokerage an edge over larger banks as it reported record equity issuance and advisory revenues in its full year results today. Numis share price was up 1.61 per cent by mid-morning, to 272p, having dropped 1.18 per cent to 264.6p at the open. [...]
Saga’s share price slumps after its largest shareholder sells 13 per cent stake December 2, 2015 Saga's share price flopped in mid morning trading after it was announced its largest shareholder was selling a stake in the company. Stock in Saga sank 5.28 per cent to 201.05p per share, making it the second biggest faller on the FTSE, behind Moneysupermarket, which fell 6.88 per cent. Shares in Saga dropped after Acromas Bid [...]
Hargreaves Lansdown’s Wealth 150: Why exceptional fund managers remain the exception December 2, 2015 Hang onto your hat – 97 per cent of active fund managers aren’t worth their salt. Perhaps surprising coming from someone who makes a living researching actively managed funds, but before you rush for the door, let’s delve a little deeper. This week marks the 12th anniversary of Hargreaves Lansdown’s Wealth 150, which lists the funds [...]
Government housing minister Brandon Lewis has admitted defeat in the face of the housing crisis: Generation Rent can’t make a “judgement call” about where they live December 2, 2015 The government has admitted defeat in the face of the London housing crisis. At least, that was the conclusion I drew yesterday when the housing minister told people hoping to stay in London to make “a judgement call about what you can afford and where is right for you”. By being “up front about the [...]
Sage Group’s share price slides despite hitting targets December 2, 2015 Sage Group's share price led the fallers on the FTSE 100 this morning, despite posting strong results and indicating further growth. Sage's share price was 4.06 per cent lower at 554.25p per share in mid-morning trading, after it posted revenue growth of six per cent for the year to the end of September. It said it expects [...]
Drop in core Eurozone inflation gives European Central Bank extra incentive to boost asset purchases tomorrow December 2, 2015 Annual inflation in the Eurozone was 0.1 per cent last month, according to official estimates released this morning, but core inflation has fallen below one per cent, offering European policy makers extra encouragement to boost their asset purchase programme tomorrow. Inflation was unchanged from October, yet core inflation, which excludes the impact of low energy prices, fell [...]
UK house prices: Residential building growing at its slowest rate for two years as the construction sector loses steam December 2, 2015 UK housebuilding came off the boil in November, according to new figures published this morning, as the construction sector slowed considerably. Markit’s purchasing managers’ index showed house building increased at its slowest rate since June 2013. The overall PMI for the construction sector dropped to a score of 55.3 – its lowest since April, but [...]
UK and London house prices: Where to buy a new build house for the most space? Surprisingly, London December 2, 2015 A new build home may come with all the mod cons, shiny new floors, and fewer problems than a quaint Victorian pad – but buyers are likely to be sacrificing space. Architects have criticised the "rabbit-hutch" homes being built across the country, after new research found most are too small to live in for the average family. Buyers outside the capital are missing out on [...]
Bank of England money printer De La Rue share price rises 4.22 per cent as it cuts banknote production putting 300 jobs on the line December 2, 2015 De La Rue, the world's biggest banknote printer, has announced it will cut banknote production as demand for paper notes falls, putting some 300 jobs on the line. The company, which prints 150 currencies including the Bank of England's notes as well as UK passports, is going to reduce its print capacity from eight billlion to six billion banknotes a [...]