Happy birthday Aim: How 20 years of London’s junior market stacks up June 19, 2015 Today is the 20th anniversary of the UK's junior market: despite the fact Aim is currently sitting 24 per cent below its opening price, it has enjoyed some remarkable success stories. The market started with just 10 components at its launch back in 1995; these days, 1,074 companies are listed on Aim. Its value has [...]
Aer Lingus sets out terms of €1.4bn IAG offer June 19, 2015 A takeover of Aer Lingus by International Airlines Group (IAG) – the parent company of British Airways – came one step closer this morning, after the Irish airline published the full terms of IAG's offer for the group and called an extraordinary general meeting. The deal has been sparked by Ryanair, which has been told [...]
Auto Trader share price rises as profits jump June 19, 2015 Shares in newly-listed Auto Trader opened 2.7 per cent higher at 316.25p as its full-year results since its IPO suggested car buyers are increasingly internet-savvy. The figures Revenues rose eight per cent to £255.9m in the year to the end of March, Auto Trader said this morning, while operating profits jumped 35 per cent to [...]
Keith Skeoch to step up as David Nish quits as chief executive of Standard Life June 19, 2015 David Nish will step down as chief executive of Standard Life in August after six years in the role, the savings giant said today. He'll be replaced by Keith Skeoch, currently chief executive of Standard Life Investments. Sir Gerry Grimstone, Standard Life's chairman, said Nish had "shown great leadership over the last six years, and [...]
London space race takes off: City firms scramble for offices as demand hits highest level since 2000 June 18, 2015 Demand for office space in the capital has boomed to levels not seen in 15 years, new figures show, as companies, spurred on by the improving economic environment and stability following the General Election, pick up their search for space. The amount of space under offer in central London leapt by 25 per cent [...]
Emergency summit called as Greek deadline looms June 18, 2015 Eurozone leaders will hold an emergency summit on Monday in a last-ditch attempt to stop Greece from defaulting on its debts. The summit was announced late last night, after finance ministers from the 19-nation currency bloc failed to make any breakthrough on a cash-for-reforms agreement at Eurogroup talks in Luxembourg. “Too little progress has been [...]
Google could make joint bid for Tesco customer data unit Dunnhumby June 18, 2015 Google could soon be partnering with private equity fund Permira to make a joint bid for Tesco’s customer data business. The two firms are in talks to make a bid for Tesco’s data wing, Dunnhumby, which gathers and analyses data from about 1bn shoppers across the world, according to reports from Sky News and Reuters last [...]
Government hires Goldman to advise on sales of bank shares June 18, 2015 Goldman Sachs will advise the government on the sale of its remaining stakes in Britain’s banks. Goldman was hired as the privatisation adviser to UK Financial Investments (UKFI), a holding company tasked with managing the taxpayer stakes in businesses across the economy, Sky News first reported last night. Chancellor of the exchequer George Osborne [...]
Fitbit share price jumps 52 per cent on market debut in New York June 18, 2015 Shares in wearable fitness gadget maker Fitbit surged 52 per cent in their stock market debut across the pond yesterday, valuing the firm at more than $4.1bn (£2.6bn). The shares, which are now traded on the New York Stock Exchange under the ticker FIT, were priced at $20 per share for the initial public [...]
Q&A: Why has the euro suddenly ended its expected decline? June 18, 2015 Q How far has the euro fallen? A If you were to buy a euro using dollars, you would only need about $1.14. In September last year you would have needed to pay $1.30. It marks a loss in value against the dollar of around 12 per cent. Yet for the last few months, the [...]