Dr Pepper Snapple shares lose their fizz after firm delivers downbeat profit outlook February 17, 2016 Dr Pepper Snapple Group disappointed investors with a warning that full-year profit for 2016 could fall short of expectations. The company, which owns the Schweppes, Canada Dry and Snapple brands among others, reported profit of $936m (£654m) for the fourth quarter of 2015, up from $895m in the same period of the previous year. For the year, [...]
Fox’s Biscuits in line for a Jammie deal as Wagon Wheels maker Burton’s eyes a sweet treat February 17, 2016 Ontario Teachers' Pension Plan, owner of Burton's, the biscuit company behind British favourites such as Jammie Dodgers, Wagon Wheels and Maryland cookies, is reportedly in talks to buy rival Fox's Biscuits. Rothschild has been brought in to advise on the sale, which could see Fox's, the firm that makes Party Rings and Rocky biscuits, valued at [...]
Budget coach service Megabus is making the best of high train fares as customers abandon rail travel over ticket prices February 17, 2016 Megabus, the low-cost coach service, appears to be benefiting from high train prices. With a model based on long-distance coach journeys, sold at low prices – even as low as £1 for less popular routes – Megabus serves more than 120 destinations in the UK and Europe. Passengers willing to put up with sometimes gruelling [...]
City Moves for 17 February 2016 | Who’s switching jobs February 17, 2016 Investec Investec Securities has announced the appointment of Andrew Whitney to its research team to cover the pharmaceuticals sector. Andrew joins from EY, where he was a senior manager in the corporate finance strategy team, conducting strategy projects and deal diligence in the life sciences and healthcare sectors. He has extensive experience in pharmaceuticals research, [...]
ABI warns chancellor George Osborne against further hikes to Insurance Premium Tax in Budget 2016 February 16, 2016 Any further rise in Insurance Premium Tax (IPT) would “hit millions of people doing the right thing”, the Association of British Insurers (ABI) has said. IPT affects 50m car, home, pet and private medical insurance policies. The insurance body has said the tax rise from six per cent to 9.5 per cent announced in the chancellor’s 2015 Summer Budget has [...]
North Sea oil workers will be given government funding to retrain as teachers as price rout continues February 16, 2016 Funding will be available for North Sea oil and gas workers who wish to retrain as teachers, the Scottish education secretary Angela Constance announced today. Financial support to help workers who have been made redundant will come from the £12m Transition Training Fund, launched by First Minister Nicola Sturgeon on 1 February. Funding will be [...]
Gold price starts falling again after seeing a turnaround in early trading today February 16, 2016 The gold price has plunged by 2.85 per cent to $1,203.97 per ounce, its biggest single-session point drop in almost a year, after rallying earlier in the day to $1,213.95. Investors had thought the commodity's two-day losing streak was at an end given the 0.38 per cent gain in early trading but the turnaround has not [...]
AirBnB’s growth in London shows that slashing dated red tape can help the capital flourish February 16, 2016 Do you remember when, in May of last year, the Deregulation Act 2015 consigned to history a law contained in the 1973 Greater London (General Powers) Act? The moment may have passed you by, but that should not diminish its significance. The Deregulation Act simplified or scrapped hundreds of rules on everything from the sale [...]
City Moves for 16 February 2016 | Who’s switching jobs February 16, 2016 Graydon Business information specialist Graydon has announced the appointment of Rob Veneboer as its new group chief operating officer. Rob is an experienced business leader in the online information industry. In his previous role, Rob was managing director business information solutions for LexisNexis International. For 10 years, he worked for LexisNexis as managing director in [...]
British Airways, CityJet and Flybe threaten to quit London’s City Airport over fears new owners will raise airline charges February 16, 2016 Three major airlines have fired a warning shot to bidders vying for control of London's City Airport, threatening to pull their business if a new owner raises airline charges. The airport, currently owned by US private equity firm Global Infrastructure Partners, has attracted the interest of five bidders, including Asia’s richest man Li Ka-Shing. The deadline for final bids [...]
