UK inflation: 33 charts showing how UK inflation rate compares to every inflation rate in every EU country June 16, 2015 The UK exited deflation in May, according to the ONS. In April consumer prices went on a brief foray into negative territory, but returned to meagre growth of 0.1 per cent for the year to May. Read more: The UK shrugs off deflation The Eurozone is beginning to get to grips with its own disinflation [...]
UK shrugs off deflation as prices rise 0.1 per cent in May June 16, 2015 Inflation rose by 0.1 per cent in the year to May according the Office for National Statistics, up from -0.1 per cent a month earlier, and ending a brief spell of deflation. "The largest upward contribution to the change came from transport services, notably air fares with the timing of Easter in April a likely [...]
Royal Mail share price slides as Ofcom launches “fundamental” review of Royal Mail June 16, 2015 Communications regulator Ofcom today announced plans for a "fundamental" review into Royal Mail's direct delivery service, sparked by the withdrawal of Whistl, Royal Mail's only rival in the sector. Read more: Opinion – Lessons learned as final Royal Mail parcel goes on sale Shares were down 2.5 per cent at 492p as Ofcom said the [...]
UK house prices: Crest Nicholson enjoys fruits of high demand as profits rise 52 per cent June 16, 2015 Crest Nicholson’s profit before tax leaped 52 per cent in the six months to the end of April, thanks to an improving market characterised by a sustained demand. Read more: Rents growing across the UK for only the third time on record The figures Residential developer Crest reported profit before tax of £58.3m, a 52 per [...]
Warren Buffett splurges $500m on Australian insurer IAG June 16, 2015 Warren Buffett, the legendary investor and second-richest man in the world, is clearly interested in protecting his fortune, after he spent AU$500m (£248m) on the Insurance Australia Group (IAG). Under the deal, Buffett will end up with a 3.7 per cent stake in the company, while IAG will have options to place another five per [...]
Markets on red alert as Greeks dig in heels June 15, 2015 Greek Prime Minister Alexis Tsipras insists his government will stand its ground against proposals demanded by creditors, as markets across Europe slide further into the red. City analysts now see a default and Greek exit from the Eurozone as an increasingly likely outcome. “We will patiently wait for the institutions [to] adhere to realism,” Tsipras [...]
Frackers rejoice after council warms to shale as Cuadrilla’s Lancashire proposal wins backing June 15, 2015 Frackers yesterday welcomed planning officers’ backing of Cuadrilla’s shale gas proposal at a site in Lancashire, saying it shows that communities are starting to warm to the controversial energy extraction technique. Lancashire council planning officers recommended that the council should approve Cuadrilla’s fracking application at the Preston New Road site when a decision is [...]
Applegreen IPO: City funds help fuel €300m listing of petrol station firm June 15, 2015 Irish petrol station group Applegreen is set to drive off with a €300m (£220m) valuation after winning backing from top City investors for the biggest European float on the junior stock market this year. The firm, which has 152 sites mainly in the UK and Ireland, has secured €70m of backing from investors, including City [...]
H&M beats forecasts as currency movements work in its favour June 15, 2015 Swedish fashion retailer H&M posted a bigger-than expected jump in sales in May, helped by weakness of the Swedish crown against other international currencies. H&M has benefitted from a recovering US economy, a stronger online presence and a broader product offering, which includes new brands such as & Other Stories and sales of homeware. Sales [...]
Dragon Oil share price soars as board agrees £3.7bn takeover offer June 15, 2015 Dragon Oil’s board yesterday approved a sweetened takeover offer from Emirates National Oil Company (ENOC), breathing fire into its share price on hopes that minority shareholders will accept the deal. Shares in the oil explorer, which operates in Turkmenistan, soared 9.6 per cent to a record high of 734p in early trading, before settling [...]