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 [...]
Hedge fund BlueCrest Capital Management has ditched all of its customers December 2, 2015 What was once one of Europe's biggest hedge funds is returning money provided by its investors, amid declining fees, rising costs and lacklustre performance. Founder Michael Platt's decision to close BlueCrest Capital Management, which had $8bn (£5.3bn) under management, will enable him to look after the money of the firm's partners and employees. The shock move [...]
Cebr: Average household savings to increase by £11,700 to £58,000 by 2025 – but here’s why you won’t benefit for 10 years after an interest rate hike December 2, 2015 Household savings are set to grow by £500bn to £1.8 trillion by 2025, according to new research by the Centre for Economic and Business Research (Cebr) and RCI Bank, with the average savings pot increasing by £11,700 in £58,700 in real terms, up from £47,000 now. That'll be pushed up by rising interest rates on [...]
Greene King share price jumps as profits rise and Spirit integration takes place “ahead of plan” December 2, 2015 Brewery Greene King had a strong six months to mid-October, after successfully integrating its latest purchase into the business. The figures During the 24 weeks to 18 October, Greene King's pre-tax profit rose by 46.9 per cent to £121.3m, driven mostly by its acquisition of pub group Spirit Pub Company for £774m in July. It [...]
Moneysupermarket share price drops as founder Simon Nixon reveals plans to leave as he sells £98m-worth of shares December 2, 2015 Moneysupermarket's share price fell this morning as it was revealed founder Simon Nixon is stepping down from the company he set up in 1993, having just sold off a further 32m shares in the business. The entrepreneur is presumably feeling pretty epic. The sale of the shares, which represented around 5.8 per cent of Moneysupermarket's [...]
Findel one step closer to blocking Sports Direct’s plan to shake up board, as shareholderse Toscafund, Schroders and River & Mercantile agree to vote against resolution December 2, 2015 At least three of Findel's major shareholders have said they will vote against a resolution that would put a Sports Direct-nominated director on the company board, taking the total number of votes expected to go against the move to nearly 44 per cent. Sports Direct (SDI) took a 19 per cent stake in the company, which [...]
Zoopla’s share price rises as property group reveals strong full year results and sets confident outlook for next year December 2, 2015 Confidence in Zoopla's future buoyed the group's share price to more than 245p this morning, taking its market cap to more than £1bn for the first time in months. Shares in the FTSE 250-listed firm rose more than 2.5 per cent to 245.98p in early trading, taking its market cap to £1.028bn. Revenue at Zoopla, which owns uSwitch [...]
Lenders buoy FTSE 100 after stress over tests fades – London Report December 2, 2015 A buoyed banking sector after passing Bank of England (BoE) stress tests yesterday pushed the FTSE 100 upwards, making up for underperforming European indices in the previous session. Financial stocks added nearly 20 points to a 39.56 point advance for the blue-chip index, which was up 0.6 per cent at 6,395.65 by the close. Barclays’ [...]
CVC set to buy up almost half of the RAC December 2, 2015 CVC CAPITAL Partners, the largest shareholder in Formula One, will reportedly announce the purchase of almost 50 per cent of breakdown company RAC later today. CVC will purchase the stake from rival private equity group Carlyle which bought the company in 2011, it was reported late last night. Singaporean sovereign wealth fund GIC, will retain [...]
Shop prices fall in November as retailers gear up for Black Friday frenzy December 2, 2015 Shop prices fell by 2.1 per cent in November, with clothing and electricals leading the way as competition intensified ahead of Black Friday. Non-food prices fell by 3.3 per cent year-on-year, according data from the British Retail Consortium (BRC) and Nielsen, which was an acceleration on the 2.7 per cent decline recorded in October. November [...]