Lloyds share price dips as government sells off more shares July 2, 2015 Shares in Lloyds were trading flat this morning after the government announced it had hived off another load of shares in the state-backed bank. The Treasury sold off around 691m shares, shrinking the government's stake by one per cent to 15.9 per cent. The government has been whittling down its stake in the bailed-out bank since [...]
UK house prices: Surprise drop in house price growth sends annual rate to two-year low, according to Nationwide house price index July 2, 2015 House price growth has dropped to a two-year low on the back of declines in June, according to Nationwide's latest report. Prices have dropped a surprise 0.2 per cent in June – halting increases in both May and April – causing the annual rate of increase to drop to just 3.3 per cent. One [...]
Dixons Carphone share price rises after announcing US expansion with Sprint Corporation July 2, 2015 Dixons Carphone is heading across the pond. The group's Connected World Services division has teamed up with American telecoms company Sprint with plans to open up to 500 stores across the States. Read more: Dixons Carphone ups full-year profit forecast Chief executive Sebastian James has already been named the most powerful person in British retailing, and [...]
George Osborne under pressure to tweak bank levy in July Budget July 1, 2015 Self-fulfilling prophecy, wishful thinking, fantasy economics: call it what you will, but the prospect of George Osborne fulfilling the desires of Britain’s banks in next week’s Budget is, to say the least, remote. Misplaced expectations that the chancellor would announce a review – or even the abolition – of the bank levy in his [...]
Eurozone factory figures tepid in June as Greek fears drag markets July 1, 2015 Eurozone factory growth picked up slightly last month but remained tepid as uncertainty around Greek debt talks – and the country’s possible exit from the bloc – swept across the region, a survey found yesterday. Fears of further Greek turmoil, and a possible exit from the euro, kept Markit’s final Eurozone manufacturing purchasing managers’ index [...]
Uber adds ranks in Indian cities July 1, 2015 Controversial transport technology firm Uber yesterday announced it will open operations in seven more Indian cities, to keep up with local rival Ola. It brings the total number of its operating territories there to 18. From today it will make India the company’s second-largest territory after the US. Uber has not had an easy ride [...]
Moody’s downgrades Greek bond rating to Caa3 July 1, 2015 Moody's has become the third ratings agency to downgrade Greece in three days. Read more: S&P downgrades Greece and puts chances of Grexit at 50 per cent Today, it lowered the struggling economy's government bond rating from Caa2 to Caa3, and placed it on review for a further downgrade. Moody's said it made [...]
Greece bailout crisis: EasyJet founder Stelios Haji-Ioannou brings free lunch to the table July 1, 2015 While Eurozone finance ministers continue to try and come up with a plan to save Greece's economy, one billionaire is giving out free lunches on the street. Read more: Stelios Haji-Ioannou launches new easyBus Heathrow-London shuttle service Sir Stelios Haji-Ioannou, founder of easyJet, left Greece 25 years ago and now lives in Monaco, but [...]
European and US markets close higher on fresh hopes of a Greece deal July 1, 2015 Greece's economic prospects took a positive turn today, after Prime Minister Alexis Tsipras showed more willingness to compromise with creditors. Read more: No vote does not mean leaving the Eurozone, says Tsipras In a letter to Eurozone partners, he put forward new proposals accepting most of what was on the table before talks collapsed. [...]
Sirius Minerals share price jumps as much as 83 per cent after York Potash mine gets go-ahead July 1, 2015 Shares in Sirius Minerals closed up 50.87 per cent to 22.63p per share this afternoon, after it got the go-ahead for its York Potash mine from the North York Moors National Park Authority. The North York Moors National Park Authority voted eight to seven in favour of the application by Sirius, suggesting that it believes the [...]