AA confirms it’s in talks to sell Irish business May 24, 2016 The AA has confirmed it is in talks about selling its Irish business, following reports claiming private equity firm Carlyle Cardinal Ireland was honing in on the firm. The roadside assistance group said this morning it was "exploring options in regards to its Irish business and a further announcement will be made if and when appropriate". [...]
UK Mail Group reports disappointing results for 2016 following difficulties with facility move May 24, 2016 UK Mail Group's pre-tax profit was halved in the 2016 financial year, following what the company described as a "challenging" year, after difficulties arising out of its move to a new, automated facility in Ryton in July 2015. The figures Profit before tax was £10.7m, compared with £21m in 2015. This was in line with the [...]
Severn Trent cuts dividend after decline in full-year earnings, but turns the tap on with good customer satisfaction May 24, 2016 Water utility firm Severn Trent reported strong profit before growth and high customer satisfaction levels as it released its full-year results this morning. The figures Severn Trent's turnover dipped 0.8 per cent on the previous year due to a regulated price decrease, reaching £1.79bn in the year to 31 March. The group's underlying profit before tax was [...]
What will Stelios say? EasyHotel first half profits fall on costs – but revenues climb above-expectations May 24, 2016 EasyHotel is enjoying the easy life: revenues were above expectations for the first half of the year – although profits more than halved on costs. The figures Total sales were up 10.4 per cent to £9.66m for the six months ended 31 March, while total revenues climbed 11.6 per cent to £2.59m, slightly ahead of the board's [...]
Halfords goes for a spin with Tredz and Wheelies May 24, 2016 Halfords has bought premium bike business Tredz and specialist insurance firm Wheelies Direct from founders Keith and Michael Jones for £18.4m. Tredz and Wheelies are based in South Wales, and employ around 250 people across the UK. Keith Jones and his senior team will continue to manage the businesses "on a standalone basis" The two businesses generated revenue of around £32m for the [...]
EU referendum: Men, Tories and the elderly could all swing the vote towards Remain May 24, 2016 The vote Remain camp holds a 13-point lead over Leave rivals in the campaign for the upcoming European Union referendum, driven by a support from a majority of men, Conservative voters and the elderly. The ORB poll found 55 per cent of those who definitely plan to vote supported remaining in the EU, while 42 per cent [...]
Mumsnet and Netmums divide mums on Brexit in the polls ahead of live Q&A with MPs Yvette Cooper and Gisela Stuart May 24, 2016 Will it be statistics at dawn for Britain's mums? News reaches The Capitalist that Netmums, the straight-laced alternative to mothering social network Mumsnet, has polled its users and discovered that "the majority of women (mums) are planning to vote to leave, whilst 17 per cent are still undecided as to how they will vote". Around [...]
Storm clouds are gathering – but Osborne hasn’t fixed the roof May 24, 2016 Uncertainty caused by a potential Brexit in the run up to June's crunch vote may be creating a smokescreen as far as the UK economy is concerned: the reality could be far worse than a few pre-referendum jitters. Recent economic data and surveys reveal some worrying signs about the economy's underlying performance. Profits at the UK’s [...]
City Moves for 24 May 2016 | Who’s switching jobs May 24, 2016 The Dining Club Group The Dining Club Group, owner of dining clubs, tastecard and Gourmet Society, has announced that Annette Court has been appointed as the group’s new chair. Annette brings a wealth of experience to the role. She is currently a non-executive director of the boards of Admiral Insurance Group, Jardine Lloyd Thompson Group, [...]
Reform Openreach’s relationship with BT or public anger at the UK broadband market will only rise May 24, 2016 Anyone who read the papers last week might be forgiven for thinking that Britain’s broadband troubles are over. After years of rising anger about poor reliability, speed and coverage, a new piece of legislation is on the way, aiming to deliver universal coverage. Unfortunately, this is not a panacea and, while the recently announced Digital [...]