Aldi UK profits jump nearly 66 per cent September 29, 2014 Group turnover at budget supermarket Aldi rocketed more than 35 per cent in the UK and Ireland during 2013, while pre-tax profits soared by nearly two-thirds, it said today. Sales at the discount grocer rose to £5.27bn for the year to December 31, 2013, up from £3.89bn the preceding year. Pre-tax profits, meanwhile, jumped [...]
Boris Johnson: Conservative MPs defecting to Ukip must be “utterly nuts” September 29, 2014 London Mayor Boris Johnson has blasted Tory MPs thinking about defecting to Ukip as "utterly nuts". Writing in the Telegraph, Johnson warned Conservative defectors could help the country "sleepwalk into a Labour government". The comments came after two Conservative MPs crossed the floor to Nigel Farage's eurosceptic party. The first was MP for Clacton Douglas [...]
Balfour Beatty share price nosedives it issues its fifth profit warning this year September 29, 2014 Shares in Balfour Beatty plunged more than 20 per cent in early morning trading, after it issued its fifth profit warning this year. The company said its construction business is likely to show a £75m profit shortfall at the end of the year, but added that trading for the rest of the group remained in [...]
Thousands blockade Hong Kong as tear gas is fired at protesters September 29, 2014 RIOT police fired volleys of tear gas at Hong Kong pro-democracy demonstrators last night as tens of thousands blockaded the city centre. The unrest was the worst since China regained control from Britain in 1997 and, with the financial hub based in the middle of the protest zone, many banks have told staff not to [...]
Hong Kong stock market plummets following mass democracy protests September 29, 2014 Hong Kong's Hang Seng Index fell 2.3 per cent in early Monday morning trading, hitting a 12 year low of 23,1488 as investor sentiment was knocked by mass protests in the city over the weekend. The Hong Kong dollar also fell to a six month low against the US dollar this morning, following protests [...]
UK firms ready to invest as US and UK surge ahead September 29, 2014 THE UK’s largest firms are readying themselves for a new era of innovation and investment as a survey of bosses says the willingness to take on risk has risen due to surging US and UK economies and easier credit availability. Of the 118 chief financial officers of major UK companies surveyed by accountancy firm Deloitte, [...]
Virgin Money cautiously lays out plans for £2bn listing this week September 29, 2014 VIRGIN Money is planning to announce its initial public offering (IPO) this week, City A.M. understands. But the challenger bank remains cautious in case market conditions change rapidly in the face of ongoing turmoil in the Middle East. Virgin Money will join new lender Aldermore in the rush of financial firms listing on the stock [...]
Quindell: “We see no reason why our share price fell 13 per cent last week” September 29, 2014 Embattled insurance outsourcer Quindell is baffled by another decline in its share price, it said in a statement to the stock exchange this morning, after shares fell 13 per cent last week. Investors in the professional services and digital solutions company have faced a challenging period, with shares falling by 44 per cent since [...]
Conservative think tank The Bow Group boycotts party conference September 28, 2014 The Tory high command was dealt a blow last night after the UK’s oldest Conservative think tank snubbed the annual party conference to launch a manifesto with Boris Johnson. The Bow Group, which was set up in 1951 and counts former cabinet minister Lord Howe amongst its members, accused the Conservative party conference of being [...]
Punch founder in £37m Strada restaurant deal September 28, 2014 HUGH Osmond, the entrepreneur behind Pizza Express, Punch Taverns and the insurance group Pearl, has bought the Strada chain of Italian restaurants in a £37m deal. Sun Capital Partners, Osmond’s private equity vehicle, is buying the Strada brand and 43 restaurants from the Tragus Group in a deal announced yesterday. Osmond said his plan for [...]