Premier Oil share price up despite falling oil price hitting sales July 9, 2015 The figures Shares in North Sea oil giant Premier Oil were up 1.6 per cent at 139p in early trading, despite a trading update showing falling oil prices and lower production had hit the company hard, with first-half results posted in August expected to show revenues fell 34 per cent to $580m (£377m) in the six months [...]
Honda recalls 4.5m Accords, Civics, CR-Vs, Odysseys, Pilots and Ridgelines over defective Takata airbags July 9, 2015 Honda has recalled a further 4.5 million vehicles fitted with Takata airbags. Vehicles affected include the 2001-2007 Accord, the 2001-2005 Civic, the 2002-2006 CR-V, 2003-2011 Odyssey, the 2003-2008 Pilot and the 2006 Ridgeline. It also affects Acura MDXs, TLs, CLs and Rls between 2002 and 2006. Honda described the recall as “critical”. [...]
Barratt Developments to beat forecasts with 45pc rise in profits July 9, 2015 The figures Housebuilder Barratt Developments is expecting a 45 per cent increase in profits for the year to the end of June, it said in a trading update today. The company is set to beat analysts’ forecasts, with a full-year pre-tax profit up to around £565m, while total forward sales are expected to have risen 29.6 per [...]
SuperGroup’s share price jumps after brand beats revenue expectations July 9, 2015 SuperGroup's share price jumped 4.6 per cent after beating expectations on revenues and earnings. The figures: Sales at the Superdry parent company were up 12.9 per cent to £486.6m – above analyst consensus, which had tipped that figure at £483.3m – while pre-tax profits were up two per cent to £63.2m. Underlying earnings per [...]
July Budget 2015: George Osborne pledges lowest corporation tax in G20 but new bank tax hits UK small lenders July 8, 2015 Chancellor pledges lowest corporation tax in the G20 – but casts punitive net over the UK’s small lenders Chancellor George Osborne ushered in a new tax regime for British banks yesterday, dialling down the controversial bank levy while introducing a new corporation tax surcharge for the entire lending industry. In a summer Budget that the [...]
Birds Eye owner Nomad Foods plans a share placing to fund more deals July 8, 2015 Nomad Foods, the owner of Birds Eye, yesterday said it plans to raise cash through a share placing to fund future acquisitions. The London-listed company bought European frozen food business Iglo Group – which owns Birds Eye and Findus – in April in a €2.6bn (£1.86bn) deal. “With this anchor investment Nomad is seeking to [...]
July Budget 2015: Challenger bank share prices plummet – Aldermore, Virgin Money, Shawbrook and OneSavings suffer worst day ever July 8, 2015 Publicly-traded British challenger banks suffered their worst day on record yesterday, as chancellor of the exchequer George Osborne said yesterday that a new corporation tax surcharge would take a significant chunk out of the industry’s profits. Reading-based retail bank Aldermore, which floated on the London Stock Exchange earlier this year, saw its share price [...]
July Budget 2015: Living wage bill hurts retailers and small firms July 8, 2015 Retail and hospitality industry insiders warned yesterday that their sectors face a huge rise in labour costs after a Tory pledge to introduce a minimum wage of £9 for over-25s by 2020. From April next year, businesses will be required to pay £7.20 per hour to workers over the age of 25, rising to [...]
July Budget 2015: Buy-to-let tax relief cut hits housebuilders as Foxtons, Barratt, Crest Nicholson and Berkeley Group share prices slide July 8, 2015 Shares in housebuilders and estate agents slid yesterday as the chancellor announced plans to curb the booming buy-to-let sector by cutting tax relief. While homeowners had mortgage interest relief withdrawn 15 years ago, buy-to-let landlords have continued to reap the benefits, with the wealthiest able to reclaim 45p of every £1 they pay in [...]
July Budget 2015: Are you an entrepreneur, an apprentice or a single parent? What does George Osborne’s statement mean for you? July 8, 2015 THE SINGLE PARENT Catherine Gannon, 51Managing partner at law firm Gannons Gannons Commercial Law continues to do well, with profits and earnings up on last year. Catherine is commercially savvy and has restructured the business from an LLP to a limited company, illustrating that she is a smart operator in a segmented legal [...]