A slice of success for Domino’s: Share price up as sales increase yet again October 2, 2014 Domino's will please more than its pizza fans today – investors will be encouraged by news of continued sales growth for the pizza delivery company. During the 13 weeks to 28 September, like-for-like sales went up by 12.9 per cent to £165.7m, representing the fourth consecutive quarter of double-digit sales growth. It is [...]
Pimco reveals £14.5bn outflows after Bill Gross’ shock exit October 2, 2014 Investors have left Pimco funds in their droves following the surprise exit of “bond king” Bill Gross, admitting record outflows of $23.5bn (£14.5bn) from its flagship fund. Pimco this morning revealed the largest daily exodus from the Total Return Bond fund took place on the day of Gross' resignation at the end of last month [...]
Carillion trading in line with expectations as Balfour Beatty announces three new projects October 2, 2014 The proposed mega-merger between Carillion PLC and Balfour Beatty failed to materialise, yet neither company is wasting any time licking their wounds. In August, Carillion reported a five per cent drop in half-year revenues shortly before the deal hit the rocks, but insisted it was “well positioned” to target revenue growth for the full-year. [...]
Virgin Money confirms IPO plans and looks to raise £150m October 2, 2014 Virgin Money Holdings has confirmed its intention to float on the London Stock Exchange, as yet another “challenger” bank looks to go public. The retail bank expects to raise £150m from its initial public offering (IPO), and will use £50m of the proceeds to complete a payment owing to the UK government. Each [...]
Conservative party conference: David Cameron promises £7bn in tax cuts for 30m people October 1, 2014 David Cameron yesterday fired the general election starting gun, issuing an emotional and impassioned speech in which he pledged to increase the tax-free personal allowance by £2,000 and raise the 40 per cent income tax band to £50,000. The tax giveaways are set to benefit 30m people, but will cost the Tories £7bn if they [...]
Boris Johnson’s deputy Kit Malthouse slams support for electric cars October 1, 2014 Boris Johnson’s deputy Kit Malthouse is battling against fellow politicians to drive hydrogen as the clean fuel source of the future, describing battery-powered vehicles as “a temporary technology”. Speaking at Canaccord Genuity’s Hydrogen – The New Energy Landscape conference in London yesterday, Malthouse, deputy mayor for business and enterprise, told attendees that uptake of hydrogen-fuelled [...]
Brussels battering to go on under Lord Hill’s EU October 1, 2014 Financial services will get no break from Brussels’ battering, as new European Commissioner Lord Hill yesterday vowed to work for the EU as a whole, rather than the City. Outgoing bureaucrat Michel Barnier had led the introduction of a tide of new red tape since the financial crisis struck. But the incoming British commissioner promised [...]
Maaxi taxi app gets backing from Ken Livingstone as he hails Nathaniel Rothschild’s new venture October 1, 2014 Former London mayor Ken Livingstone has thrown his backing behind financier Nathaniel Rothschild’s new taxi sharing app Maaxi, believed to be likely to launch in the next few weeks. In an open letter to taxi trade organisations, Livingstone said: “I have been using my experience and knowledge of London and its transport system to help [...]
Virgin Money advisers reject retail element in £2bn IPO October 1, 2014 Virgin Money, which is planning a London float that will value the challenger bank at between £1.5-2bn, has decided against offering the shares to the public despite some institutions and advisers pushing hard for this. Retail offers have been a rarity in the London market this year, despite the massive interest generated last year by [...]
Goldman and others invest in new tech firm Symphony October 1, 2014 Goldman Sachs has announced it is part of consortium investing $66m (£41m) in new company Symphony Communication Services as it develops Symphony, a new communications platform. The other 13 members of the consortium are some of the reputable names in finance including Black Rock, the world’s largest asset manager. Symphony will allow companies and individuals [...]