Turbulence and tailwinds: how savers can seek returns and save the planet February 14, 2019 Isa season is upon us. With just a few weeks left to go before the end of the 2018/19 tax year, canny savers are scrambling to use up their tax-free allowance before the 6 April deadline. The task became more of a challenge this year after the government, in a bid to bolster Britain’s savings culture, [...]
Spotify posts its first quarterly profit as paid subscriptions near 100m February 6, 2019 Spotify has made its first ever quarterly profit, it said today, as it revealed results for the three months to the end of December. The figures The Stockholm-based firm posted an operating profit of €94m (£82.5m), as well as a 29 per cent rise in revenue in the fourth quarter thanks to an increased number of paid [...]
FTSE 100 roundup: Today’s winners and losers February 1, 2019 The FTSE 100 finished 0.74 per cent up today, nudging just above 7,000 points to finish on 7,020.22. The index was bolstered by weakness in the pound after the release of further disappointing manufacturing statistics this morning. Sterling has had a tough end to an already difficult week, falling 0.3 per cent against the dollar, striking a [...]
Outgoing BT boss Gavin Patterson regrets delayed start to turnaround plan January 31, 2019 Outgoing BT boss Gavin Patterson today said he regretted not starting the company’s radical turnaround plan earlier as his turbulent time at the helm came to an end. The embattled chief executive said the company would be in a better position if it had been quicker to kick off its aggressive cost-cutting plan, which included thousands [...]
Diageo looks to key American market as it hopes price hikes will raise spirits January 27, 2019 Drinks giant Diageo will be hoping for a strong performance in the US when it reveals its results later this week, with price hikes expected to boost margins. The British brewer, whose brands include Guinness, Smirnoff and Johnnie Walker, will be eyeing a boost in sales of vodka and whiskey in the crucial North American [...]
Real estate merger to form biggest ever UK healthcare property investor January 24, 2019 Real estate group Primary Health Properties (PHP) has agreed a £1bn merger deal with MedicX in a move that is set to create the UK’s largest ever UK healthcare property investor. In an effort to scale up its role within the healthcare asset market, FTSE 250 primary care specialist PHP has signed an all-share merger with [...]
RPC Group’s £3.3bn private equity takeover sparks disquiet among top shareholders January 23, 2019 Private equity firm Apollo Global Management’s £3.3bn buyout of packaging manufacturer RPC Group has sparked a row among investors, who feel they are getting a raw deal. Each RPC shareholder will get 782p cash for every share they own, 15.6 per cent up on the 683.6p closing price on 7 September, the last day before [...]
Top Brexit donors Odey and Hargreaves say Britain will not leave the EU January 11, 2019 Two of the Leave campaign's biggest donors believe Brexit will not happen as time runs out for the government to finalise its plan for leaving the EU. Peter Hargreaves and Crispin Odey, who both donated vast sums to the Brexit campaign, told Reuters today that they now expect the UK’s referendum decision to be reversed. [...]
City firms draft in extra staff for crunch Brexit deal vote in preparation for market volatility and investor calls January 11, 2019 The City is bracing itself for next week’s crunch vote on Theresa May’s Brexit deal with banks drafting in extra staff to work through the night responding to market volatility and investor calls. MPs will finally vote on the Prime Minister’s withdrawal agreement on Tuesday after a month's delay, with traders, investors and analysts on [...]
Taylor Wimpey results in the City spotlight as market jitters linger January 6, 2019 Housebuilding giant Taylor Wimpey is set to reveal its future outlook later this week against a backdrop of lower activity and growing uncertainty across many parts of the UK’s property market. Traders will be turning their attention towards the blue-chip constituent, which is releasing its full-year trading statement on Wednesday, as City caution looms large [...]