GDP growth slows to 0.4 per cent as first quarter volatility hits UK economy April 27, 2016 Economy watchers have been gearing up for today for quite some time. Calendars are cleared, models refined, data plugged in and the braver ones of the bunch even stick their necks out with a prediction or two. That's right: It's GDP day. We knew it was going to be ugly. The economy grew by 0.6 per cent in [...]
Foxtons reaps the rewards as house buyers scramble to complete ahead of stamp duty deadline – but how long will the party last? April 27, 2016 Foxton's has posted impressive-looking results for the quarter to the end of March. But shares slid as investors showed their nerves over new buy to let rules. The figures Total group revenues rose to £38.4m during the period, up 16.2 per cent from the same quarter last year. That was pushed up by a 28.5 per cent increase in property [...]
Get ready for another bout of Fedspeak when the US Federal Reserve holds interest rates this evening April 27, 2016 The US Federal Reserve will not be raising interest rates this evening. Neither will Janet Yellen – or anybody from the rate-setting Federal Open Markets Committee (FOMC) – be holding a press conference to announce the non-decision. That won't be enough to stop markets working themselves into a frenzy at around 7pm when a written [...]
Imagination Technologies share price hit by Apple slowdown, but suppliers ARM and Laird less exposed April 27, 2016 British chip maker Imagination Technologies is feeling the crunch of the Apple slowdown. Shares tumbled more than five per cent as markets opened, after Apple reported a slowdown in revenue and iPhone sales that was worse than analysts had expected. Imagination's exposure to Apple is around 50 per cent, according to analysts at Liberum. Fellow UK [...]
AnaCap in talks to buy Barclays’ French arm April 27, 2016 European private equity group AnaCap Financial Partners has entered exclusive talks to buy Barclays' French retail banking and wealth business. The division offers services including current accounts, deposits and mortgages, as well as a variety of products including life insurance and wealth management. The business has a network of 74 branches across France. If a deal is [...]
Antofagasta posts mixed production update – profits hostage to fortune of global commodity prices April 27, 2016 Metal production slipped at Antofagasta in the first three months of the year, as the FTSE 100 mining giant continued to cut costs and said it was on course to hit its output and spending targets for the year. Revenues and profits, however, will depend on swings in commodity prices, which have proved a challenge in recent months. [...]
Home Retail Group profits slump 28 per cent as firm admits “disappointing” performance from Argos April 27, 2016 Home Retail Group – the company everyone wanted a slice of earlier this year – has revealed a full year profits drop of 28 per cent as sales ticked down. HRG and Sainsburys' share prices were both down in early trading. The figures The Homebase and Argos parent company said benchmark pre-tax profit fell 28 per cent [...]
London Stock Exchange revenues up eight per cent as it steps up battle to force through Deutsche Boerse merger April 27, 2016 The London Stock Exchange (LSE) has posted a strong set of first quarter results as it ramps up its fight to secure the multi-billion pound merger with Deutsche Boerse (DB). LSE Chairman, Donald Brydon, hit back at critics of the deal in a fiery exchange with shareholders as the results were announced: "We wouldn't be embarking [...]
Barclays profits tumble 25 per cent as investment banking woes continue April 27, 2016 Barclays pre-tax profits have fallen by almost a quarter year-on-year as the investment bank division struggled to perform. But with a sign of progress being made, and confidence about the outlook for the rest of the year, Barclays' share price rose 3.9 per cent in early trading. The figures Barclays' first quarter pre-tax profit dropped 25 per [...]
US Presidential Election 2016: Donald Trump and Hillary Clinton take step closer to White House April 27, 2016 The frontrunners in the campaigns to secure the Republican and Democratic nominations for the 2016 US Presidential race have traded blows as they edged closer to the finish line last night with primary wins in several north east states. Donald Trump secured victory in all five states that held contests yesterday – Connecticut, Delaware, Maryland, Pennsylvania, and Rhode Island. [...]