How Finncap weathered the General Election and Scottish referendum storms May 17, 2015 If a week is a long time in politics then nine months is an age – especially for City broker Finncap. The run-up to Scotland’s referendum in September and the run-in to May’s general election was the noisy backdrop for much of Finncap’s financial year. Despite a severe dampening of animal spirits across the Square [...]
Vodafone continues to weigh on quarterly UK dividend payments May 17, 2015 UK dividends fell by more than 60 per cent to $19.1bn in the first quarter after Vodafone’s bumper payout last year continued to distort headline figures. The telecoms giant made a special $26bn payment to investors on the back of its Verizon Wireless deal last year – making this year’s quarterly dividend payout pale in [...]
Strong sterling fails to hinder UK exporters May 17, 2015 Britain’s manufacturers are seeing a sharp rise in exports despite unfavourable exchange rates, according to survey data released today by the British Chambers of Commerce (BCC) and delivery firm DHL Express. A greater number of export orders was seen by 46 per cent of manufacturers in the first three months of the year. It compares [...]
Bernard Matthews in hunt for £10m rescue May 17, 2015 Struggling poultry supplier Bernard Matthews is seeking £10m in order to stay afloat just 16 months after being rescued by a private equity firm. The company has been trying to stem losses ever since 2007 when its stock of birds was struck by avian flu. Bernard Matthews was thrown a life-line by private equity investors [...]
Accountants poised to hike fees as economy strengthens May 17, 2015 A greater number of accountants are planning to lift their fees over the next year as they take advantage of the strengthening economy. A fee rise is planned by 24 per cent of accountancy firms, according to survey figures released today by tax and accounting information firm Bloomsbury Professional. It compares with 17 per cent [...]
UK house prices: What effect does the unemployment rate have on the cost of a home? May 17, 2015 Average house prices in the twenty local authorities with the highest rate of unemployment have risen by just £4,100 since 2009, while low unemployment areas have risen by an average of £65,000, according to analysis from Lloyds. The figures The raw numbers translate to increases of 25 per cent for the areas with the lowest [...]
Corfu deaths: Thomas Cook “received £3.5m payout” for loss of profits May 17, 2015 Thomas Cook confirmed it received compensation from the Greek hotel where two children were killed by carbon monoxide poisoning. The travel company has not revealed the amount it was paid out but according to The Mail on Sunday it received around £3.5m to cover refunds, loss of profits and other expenses following the deaths of [...]
New Look confirms £780m sale to South African magnate Christo Wiese’s Brait May 15, 2015 Britain’s second-largest women’s clothing retailer confirmed today that it has a new owner. Private equity firm Brait, owned by South African billionaire Christol Wiese, has bought a 90 per cent stake in the fashion chain in a £780m deal. The figure is significantly less than the £1.9bn mooted in reports. The deal marks the first [...]
Four charts that sum up the week: Sterling rallies, UK growth forecast cut, London house prices rise and Europe beats Britain May 15, 2015 London house prices ended seven months of decline, the Bank of England said it was feeling less optimistic about the UK economy and the French economy sped ahead of Britain and Germany in the first quarter, this week. Here are four charts that sum up what happened. 1. London house prices are on the up again, [...]
Bank of England’s Andrew Bailey says HSBC right to eye move abroad May 15, 2015 A Bank of England official has said that HSBC, the country's biggest bank, is right to eye a move abroad. "We will obviously be in close contact with them because there are important issues for us," Andrew Bailey, chief executive of the Bank of England's prudential regulation authority, said. "It is entirely natural that as [...]