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 [...]
Savills beefs up rural presence with Smiths Gore acquisition April 21, 2015 Property company Savills yesterday announced a deal to buy Smiths Gore – a rural property specialist. Smiths Gore has operated as a partnership with 532 staff, across 31 UK offices and 14 estate offices, all of whom will transfer into Savills Rural Energy and Projects (REP) division or its Country Residential Agency business. The takeover [...]
German investor confidence balks amid weak global economy April 21, 2015 Investor confidence in Germany has unexpectedly fallen for the first time in six months, amid global growth concerns, and the potential impact of economic woes on the country's exports. The Zew Center for European Economic Research in Mannheim said the widely watched Zew index fell to 53.3 in April, down from 54.8 a month earlier, [...]
Sky share price touches 14-year high as profit and customers jump after splashing billions on Premier League rights April 21, 2015 Shares in Sky jumped as much as five per cent in early trading, touching a 14-year high, after the firm announced it had grown profit, revenue and customers The figures For the nine months to the end of March, Sky operating profit was up 20 per cent to £1.025bn on revenue of £8.453bn, which also grew five per [...]
Hurrah – wage growth to hit three per cent in 2015 April 21, 2015 Wage growth in the UK will rise to three per cent in 2015, a new report reckons – that's 0.5 percentage points higher than the average increase in 2014. Set against inflation, which is forecast to average out at 0.2 per cent in 2015 (by some estimates, we may even slip into deflation), the research, [...]