BHS to leave Oxford Street flagship store September 9, 2015 It could soon be the end of an era for BHS as the ailing department chain's new owners move closer to a deal that could see it leave its Oxford Street flagship altogether. Retail Acquisitions, a consortium comprising an eclectic mix of investors including former racing driver Dominic Chappell, is in talks to sell the [...]
UK industrial production drops in July as exports struggle September 9, 2015 UK factory output fell by 0.5 per cent in July compared with June, according to figures released the Office for National Statistics this morning, as firms continue to battle against a strong pound weak economic growth in major export markets. Total industrial production, which includes mining and quarrying as well as manufacturing, dropped 0.4 per cent. [...]
Apple iPhone 6S launch: Apple share price down pre-launch for the first time since 2007 September 9, 2015 Apple shares are down ahead of a major launch for the first time since the first iPhone was unveiled back in 2007. The Cupertino tech giant has seen shares slide by 6.2 per cent in the past 30 days, leaving what is normally a safe source of returns for investors decidedly more uncertain. Looking back, [...]
United Airlines boss Jeff Smisek steps down amid ongoing Port Authority investigation September 9, 2015 United Airlines boss Jeff Smisek has left the company with immediate effect, following a company investigation into an ongoing federal probe. Smisek is stepping down alongside United's executive vice president of communications and government affairs Nene Foxhall and its senior vice president of corporate and government affairs Mark R. Anderson. “The departures announced [...]
Monitise share price dives as chief executive Elizabeth Buse steps down after six months September 9, 2015 Shares in troubled tech group Monitise tumbled by more than 27 per cent to 4.2p in the first minutes of trading, as it announced chief executive Elizabeth Buse will step down after just six months running the show. In a statement today, Monitise said Buse will step down today "due to her desire for personal [...]
Ryanair’s share price jumps 10 per cent as it raises profit forecast 25 per cent after discovering being nice to customers can really pay off September 9, 2015 Ryanair's share price leaped 10 per cent on the open this morning after raising its full year profit guidance by 25 per cent, as its bid to win over customers with an improved service takes off. The budget airline said full year net profit would now come in between €1.175bn and €1.225bn, up from previous [...]
Quindell buys remaining stake in loss-making PT Health September 9, 2015 Troubled insurance outsourcer Quindell has acquired the remaining 50.1 per cent stake in Canadian rehabilitation provider PT Healthcare Solutions. Quindell is issuing nearly 9.5 million shares for the acquisition, which is expected to close in mid-October. The deal will require approval from two-thirds of votes cast by holders of PT Health's common shares. [...]
Goldman Sachs and UBS’s £1 RBS and Lloyds bank share sale fee baffles top MPs September 9, 2015 An influential committee of MPs was puzzled yesterday by the revelation that some of the City’s biggest firms had charged the government just £1 for handling the sale of shares in Royal Bank of Scotland and Lloyds. Top officials from UK Financial Investments (UKFI) – the body that manages the government’s stake in the lenders – [...]
UK pension changes prove positive for insurance group LV as half year profit jumps September 9, 2015 Insurance group LV reported a 103 per cent jump in operating profit during the first half of the year, a period in which the firm said it had altered its offering to suit changing customer needs. Group operating profit was up to £79m in the six months to 30 June, from £39m in the [...]
Mergers and aquisitions defy stormy global financial markets as M&A deals involving UK firms jump past £260bn September 9, 2015 Businesses pushed ahead with billions of dollars’ worth of mergers and acquisitions (M&A) yesterday, unperturbed by recent volatility that has shaken global markets. Deals involving UK firms jumped past the $400bn (£260bn) mark for the year to date as takeover Tuesday gripped the City. PaddyPower and Betfair agreed a £6bn merger; Cinven revealed [...]