Greek banks are safe for now as deposit outflows grind to a halt March 5, 2015 The worst may be over for Greek banks, with deposit flows looking to have halted at just over €20bn (£14bn). “Based on discussions we had with Greek banks, it seems that deposit outflows have abated last week following the Eurogroup decision on 20 February,” Nondas Nicolaides, a senior credit officer at ratings agency Moody’s told City [...]
UK rates held at record lows March 5, 2015 THE UK’S rate-setters yesterday decided against moving rates up or down from the 0.5 per cent rate where they have sat since 2009. “At a time when inflation is falling and may temporarily enter negative territory, there is no strong argument for considering higher rates. Although wages are now rising, the scale of this increase [...]
Scant supply of homes pushes prices higher March 5, 2015 RISING incomes, stamp duty changes and a supply shortage are putting upward pressure on house prices, new figures show. The average house price rose 8.3 per cent in February compared to February 2014, according to data released yesterday by mortgage lender Halifax. It marks a slight slowdown in growth from the 8.5 per cent year-on-year [...]
Confident consumers fuel record growth of new car registrations March 5, 2015 Confident UK consumers bought 76,958 new cars in February, 12 per cent more than in February last year. The figures released yesterday by the Society of Motor Manufacturers and Traders (SMMT) show that February was the 36th consecutive month of growth in new car purchases. “Three years of continuous growth in the new car market is [...]
Aviva rebounds from restructure and regulations March 5, 2015 AVIVA has turned a corner but still has a long way to go said chief executive Mark Wilson as the company reported a rise in profits yesterday. The insurance giant boosted its dividend by 30 per cent and its strong figures for 2014 pushed shares up 7.05 per cent at the close. The company has [...]
IPO flurry helps London Stock Exchange to 19pc profit hike March 5, 2015 The London Stock Exchange (LSE) yesterday reported a 19 per cent jump in profits for the year ended 31 December, boosted by the healthy flow on initial public offerings over the period. The 214-year-old bourse reported adjusted profits before tax of £491.7m for the period, up from £412.7m in 2013. Total income also expanded 26 [...]
Earnings surge as fund manager Schroders reports a record year March 5, 2015 BRITISH fund manager Schroders yesterday said it had achieved a record 16 per cent growth in profits for the year ended 31 December. The London-based firm saw profit before tax jump to £517.1m for the year, up from £447.5m in 2013. The multinational asset manager also saw inflows almost triple to £24.8bn over the period, [...]
Moncler boosted by growth from piste to the high street March 5, 2015 Italian luxury down jacket-maker Moncler posted a surge in sales and profits last year after launching new stores on some of the world’s most upmarket high streets. The fashion brand, a favourite with celebrities including David Beckham, posted a better-than-expected 21 per cent jump in earnings before interest and tax (Ebit) to €201.6m (£145.9m). Revenue [...]
Cold weather hits February retail sales March 5, 2015 HIGH STREET sales declined in February as the cold weather put consumers off shopping and offset a boost in sales from Valentine’s Day. Mid-market retailers saw sales drop by 0.2 per cent year-on-year, despite easy comparatives on last years when flooding hit large parts of the country. The fashion sector took the biggest hit with [...]
VIMTO-maker full-year sales fizz higher March 5, 2015 VIMTO maker Nichols posted a 14 per cent jump in full-year pre-tax profits to £25.7m after the group outperformed the soft drinks market in the UK. Sales were up 3.5 per cent to £109.2m thanks to strong demand in the UK and overseas, particularly in the Middle East. International sales grew by 4.3 per cent. [...]