Car industry revival turbo charged in US – GM, Fiat Chrysler, Ford, Toyota, and Nissan all pull in record sales for December and 2015 January 5, 2016 Oil prices at an 11 year low, an easy line of credit, pent up customer demand, and a rebound in the jobs market all contributed to a record breaking 2015 for the US car industry, crowned with one of the best December trading periods ever. The picture is looking similar in UK, with many of [...]
Carlyle insists it’s not hungry for Holland & Barrett sale January 3, 2016 Private equity firm Carlyle, owner of high street health food chain Holland & Barrett, has insisted that it is in no hurry to part ways with the retailer in 2016. A spokesperson told City A.M. that there is no intention of a sale in 2016, though there will be an exit at some point. In [...]
Fund manager ditches BG shares as the oil price outlook darkens January 3, 2016 The takeover of oil firm BG Group by behemoth Royal Dutch Shell is facing further investor woes. US fund management firm Capital Group sold £417m of BG shares in December stock exchange filings reveal. Capital Group, also a big investor in Shell, is the latest fund manager to appear sceptical about the deal, which was agreed [...]
Fintech firm Transferwise in early stage talks to team up with banks in the UK December 21, 2015 London fintech firm Transferwise is set to partner up with the banks it has previously accused of “scamming” customers. The money transfer firm has announced it is in early stage talks with up to 20 banks around the world, including established and challenger banks in the UK, to embed its services in their online banking [...]
Turmoil: Oil price rebounds slightly from 11 year lows recorded earlier in the day December 21, 2015 The price of oil has recovered somewhat from its 11 year lows earlier on today, continuing the sell off that was sparked by oil cartel Opec’s decision not to curb production earlier this month. Early this morning the price of Brent crude hit $36.05 before bouncing back to around $36.35. In the US, the price [...]
Shoppers feel flush in the run up to Christmas December 21, 2015 Consumer confidence has been growing in the run up to Christmas according to the latest survey from Lloyds Bank. The report shows the overall spending power index rose by three points in November, standing at 161. However, economic data from the bank shows year-on-year spending on essentials fell for the twelfth consecutive month in November, [...]
Row breaks out over closure of Redcar steel plant December 21, 2015 The government's handling of the closure of the Redcar SSI steel plant earlier this year has become the source of a row in the halls of Westminster. A report out today from the Business, Innovation and Skills (BIS) select committee found the government did not do enough to save the plant from closure at the [...]
Shareholder dissatisfaction with bosses at Imagination Technologies December 20, 2015 Troubled mobile chip maker Imagination Technologies, which counts Apple among its top shareholders, is facing mounting criticism from investors following the firm's share price tumbling 50 per cent in two months. At the close on Friday the share price was trading around 135p, down from 247p in October. The share price hit highs of 712p [...]
Accountant KPMG posts a rise in revenue as profits take a hit December 18, 2015 Big four accountant KPMG has announced a growth in revenue by 2.6 per cent to £1.96bn for the year ended 30 September. However, overall profits before tax were down seven per cent from £414m to £383m. KPMG blamed the fall on high investment, spending a total of £196m through out the year. Profits from the advisory [...]
Financial watchdog, the FCA, pushes back RBS report on small business practices December 17, 2015 The release of a review into whether business customers of Royal Bank of Scotland (RBS) were mistreated has been pushed back until early 2016. The first part of the investigation into RBS's global restructuring group (GRG) was meant to be announced by the Financial Conduct Authority (FCA) before the end of this year. The financial [...]
