General Election 2015: How Tony Blair presided over the biggest rise in UK house prices in history April 22, 2015 There's no easy way to say this, but Tony Blair, rather than the likes of Margaret Thatcher or David Cameron, was the Prime Minister who presided over the highest-ever rise in property prices, it turns out. Research from Knight Frank suggests house prices rose a staggering 211.3 per cent during Blair's premiership – higher than [...]
London is the world’s third most expensive city for dating April 22, 2015 Anyone who is fed up of paying through the nose for a date in London's expensive bars and restaurants will be envious of cities such as Mumbai where a cheap date typically costs just $24.70 (£16.53), according to new research. That's about the same as an adult zones 1-6 day travel card, a ticket for Vue [...]
Video: Here’s what Dave Lewis has to say about Tesco’s massive £6.4bn loss April 22, 2015 Tesco chief Dave Lewis has said he is not happy with the "significant" numbers in today's full-year results in which the supermarket reported record losses of £6.38bn. In a video discussing the latest figures alongside finance chief Alan Stewart, created by Tesco, when asked what's gone wrong, Lewis said the numbers were " significant" and [...]
Tesco: The decline and fall of the supermarket giant and its share price in one chart April 22, 2015 The business world is reacting to the news that Tesco has racked up a £6.38bn loss – one of the biggest losses ever made by a UK company. The beleaguered supermarket’s pre-tax losses for the year are even higher than the £5bn markets had been expecting. There was also a big hit from the writedown of [...]
Rolls-Royce share price opens higher as John Rishton stands down as chief executive to be succeeded by Warren East April 22, 2015 Shares in troubled engineering giant Rolls-Royce opened four per cent higher this morning, at 1,049p, after chief executive John Rishton announced his intention to stand down. Rishton, who has been with the company for four years with the company, was promoted to the top job four years ago. He'll step down on 2 July. He [...]
Ladbrokes share price slides profits hit by punters and new taxes April 22, 2015 The numbers Ladbrokes' share price is down two per cent this morning after reporting a fall in operating profits cent year-on-year of 22 per cent to £14.3m. Group net revenue rose 3.3 per cent for the quarter to 31 March. The digital side of the business continues to grow strongly with mobile betting up 62.7 per cent. Why [...]
Tesco racks up record £6.38bn loss in worst year in supermarket’s history April 22, 2015 Tesco has racked up a £6.38bn loss – the worst year in the supermarket's 96-year history. It's one of the biggest losses ever made by a UK company, and the biggest ever made by a British retailer. The beleaguered supermarket's pre-tax losses for the year are even higher than the £5bn markets had been expecting. One-off [...]
Greece debt deadline: No bailout deal in sight as Greek leaders lose favour April 21, 2015 A deal to grant the Greek government extra bailout cash is unlikely to be agreed this Friday when finance ministers meet in Riga, according to officials. Meanwhile, Greek leaders are struggling with popularity at home. It had been hoped that a meeting of deputy finance officials today could lay the ground work for a deal, [...]
Payday lender Wonga to drop toxic name and advert puppets after losses April 21, 2015 Payday lender Wonga is planning to replace its toxic brand with a new name and a range of products beyond its core payday lending business, its bosses said yesterday. The online loans firm made a £37.3m loss in 2014 on falling lending and a sharp rise in costs. It is under financial strain as [...]
Wonga re-branding: Experts predict payday lender to pick a very boring new name April 21, 2015 Wonga is likely to pick a dull name to deflect attention in future, brand consultants told City A.M. The online payday lender ran a hugely successful branding campaign, rapidly becoming the most high-profile firm in its sector. “Its success was also its downfall,” said Sholto Lindsay-Smith from brand consultancy Industry. “It was the most catchy name [...]