Whitbread’s share price falls as half-year results fail to impress October 25, 2016 Whitbread's penchant for the finer stuff failed to excite the market as its share price fell nearly three per cent after unveiling its half year numbers. The figures Total revenues increased by 8.1 per cent to £1.6bn, although like-for-like growth was up by a more modest 1.9 per cent. The group's Premier Inn hotel network generated just [...]
Ukip’s Bill Etheridge drops out of leadership race October 25, 2016 West Midlands MEP Bill Etheridge has pulled out of the race to become leader of Ukip and given his backing to one of his rivals, Paul Nuttall. Etheridge said that Nuttall, the deputy leader, was the only candidate "who can effectively unite our party". "I believe Paul is the right man to bring unity to our party and lead [...]
St James’s Place shares jump as it reports “business as usual” despite political uncertainty October 25, 2016 Wealth management group St James’s Place’s share price jumped three per cent this morning as it reported “business as usual” despite political uncertainty in the third quarter. The figures The company reported gross inflows of funds under management (FUM) of £2.8bn, up from £2.3bn in the same period last year. With “continued strong retention of [...]
Howard Webb: Technology undoubtedly helps referees, but video replays won’t be a panacea for football October 25, 2016 A whistle, a red and yellow card and the strength of your personality – those were the tools of the trade when I began a 25-year refereeing career in 1989. In the late 90s we were given these chunky radios that sat in the middle of our backs with a big earpiece looped over your [...]
Labour fined £20k by Electoral Commission for incomplete election spending returns October 25, 2016 The Electoral Commission has fined the Labour Party £20,000 for breaking campaign spending rules during the 2015 General Election and failing to report a number of items to them. In a report published this morning, it said that the return was "incomplete" and was missing 74 payments which totalled £123,748 along with 33 separate invoices [...]
Heathrow vs. Gatwick? It’s decision day for airport expansion in the south east October 25, 2016 The government will announce its long-awaited decision on airport expansion today, with transport secretary Chris Grayling expected to signal expansion across the UK's regional airports, as well as in the south east. Heathrow is the favourite to get the green light over Gatwick, while Grayling will also stress the desire for further projects beyond the site. Although [...]
Montei dei Paschi to cut 2,600 jobs October 25, 2016 Italian bank Monte dei Paschi is planning to cut 2,600 jobs and close 500 branches as part of rescue plans aimed at building a "de-risked and well-capitalised bank". Monte dei Paschi will cut the number of branches to 1,500 by 2019, from the 2,000 it currently owns. Meanwhile, the job cuts are expected to reduce personnel [...]
3i sells debt business as part of strategic focus away from credit October 25, 2016 Alternative asset manager Investcorp has snapped up venture capital group 3i's global credit business for £222m. Purchasing 3i Debt Management (3iDM), a business with $12bn of assets under management, will almost double Investcorp's portfolio. Simon Borrows, the chief exec of 3i explained that although the debt management business provided strong cash flows, strategically it was no longer the best fit for the group. [...]
National Express grows revenue and profit driven mainly by overseas success October 25, 2016 Coach and rail company National Express has reported growth in revenue and profit during the three months to 30 September, which it attributed to particularly strong performances in its overseas businesses. The figures Group revenue was up 17 per cent, supported by total passenger growth of six per cent, thr company said. Pre-tax profit rose nine [...]
Advertising spend forecasts up despite Brexit uncertainty, with internet driving growth October 25, 2016 Spending in the UK advertising market is expected to grow this year despite uncertainty around June’s Brexit vote. The Advertising Association and Warc report has forecast 5.2 per cent adspend growth in 2016, up one percentage point from the previous estimate, to £21.1bn. The total spend figure totalled £20.1bn in 2015. However, forecasts for 2017 [...]