Rolls-Royce in $1bn Air China engine deal to supply Trent 1000 engines for passenger jets March 30, 2015 Engine manufacturer Rolls-Royce has extended its deals with Air China, after being selected to supply its Trent 1000 engines for 15 new Boeing 787-9 Dreamliner passenger jets. According to the British technology firm, the new contract is worth $1bn (£675m). Previously, Rolls-Royce supplied the airline with Trent 700 engines for 49 Airbus A330 aircraft, with [...]
RBS investment bank head Rory Cullinan resigns weeks after joking it was boring on Snapchat March 30, 2015 Rory Cullinan has resigned as head of Royal Bank of Scotland's (RBS) investment bank just weeks after he was caught complaining of being bored on Snapchat. RBS had only handed the role to Cullinan at the end of last month, and had expected him to lead a major scaling back program of its investment bank [...]
Amazon is launches Home Services in the US – here are some of the most random things you can order March 30, 2015 Amazon has come a long way from starting as an online book store 20 years ago – from today, people in the US can buy professional help via its website. The e-commerce giant has launched its Home Services site, which spans 700 different services ranging from installation to rubbish disposal. Help will be on [...]
US oil production posts largest increase in over a century March 30, 2015 Last year US oil production posted its largest volume increase since record keeping began over a century ago. The Energy Information Administration (EIA) said it increased to1.2m barrels per day last year, pumping out a total 8.7m barrels per day. This was the largest volume increase since record-keeping began over a century ago. "Most of the [...]
Richemont confirms talks with Yoox over Net-a-Porter takeover March 30, 2015 It turns out that Richemont, the private equity owner of Net-a-Porter, is in talks with Yoox, Net-a-Porter's Italian rival, over a possible "deal". The news follows rumours last week that Amazon was sniffing around the luxury shopping site, with a deal thought to be worth as much as €2bn (£1.47bn) on the cards. But today [...]
Savers rush to fill their Isas as personal finance “Christmas sales” approach March 30, 2015 It's that time of the year again – as the end of the tax year approaches, the nation's cash-rich are in a savings frenzy, hurrying to stow as much in an Isa as possible. In fact, financial adviser Hargreaves Lansdown suggests, savers will put £2.6bn into stocks and shares Isas this week. According to the [...]
European markets rise on Fed rate hike caution March 30, 2015 European markets started the day higher, after comments made by US Federal Reserve chief Janet Yellen hinted at "gradual" rate rises, reassuring investors. The FTSE 100 opened 0.6 per cent up, while Germany's Dax jumped 1.23 per cent and France's Cac 40 rose one per cent. Investors have showed caution in recent weeks after a [...]
Quindell share price soars following news of sale to Slater & Gordon March 30, 2015 Following a lengthy "will they, won't they" back-and-forth worthy of any soap opera, Quindell has finally agreed to sell its professional services arm to law firm Slater & Gordon, with most of the proceeds to be given back to shareholders. The division accounts for around 90 per cent of the company. Quindell intends to use [...]
Chinese boom fuels jump in global deals March 29, 2015 A wave of mergers and acquisitions (M&A) is on the way this year, driving a hiring boom in the City and shaking up industries across the globe. A combination of ultra-low interest rates and increasing confidence in the economy has encouraged firms to buy up rivals. And firms which see little room for organic growth [...]
Alliance Trust braced for more personal attacks March 29, 2015 The battle between Alliance Trust and activist investor Elliott Advisors is set to get more tense and bitter in the coming weeks, with both sides rallying supporters ahead of next month’s annual general meeting. Elliott wants to appoint three new directors to the investment group’s board, arguing the FTSE 250 firm needs more industry experience, [...]