Monitise’s share price soars more than 40 per cent as payments firm enters talks to sell off MyVoucherCodes arm Markco Media March 4, 2016 Monitise has confirmed it is in "very early stage discussions" around the possibility it will sell off part of its content business after the Aim-listed firm's share price soared more than 40 per cent this morning. Monitise, whose share price has tumbled 85 per cent in the last year after a series of bad results [...]
BHS to cut a third of head office jobs, as the department store chain March 4, 2016 BHS is planning to axe around a third of its head office jobs, as part of measures to keep the business afloat. The department store chain has placed around 150 jobs from its 450-strong head office into consultation this morning, a spokeswoman told City A.M. this morning. She declined to comment further. Around 100 roles have [...]
Alliance Trust ups dividend on solid results after turbulent year March 4, 2016 Alliance Trust has upped its dividend for the 49th year in a row, shrugging off one of the most turbulent periods in its 128-year history. The figures The iconic investment trust generated a total shareholder return of 10.7 per cent in the year to 31 December, with a net asset value (NAV) total return of 5.4 [...]
As the collapse of Powa shows, fintech can be a dangerous game because the UK’s capital structure is prohibitive to growth March 4, 2016 Another day, another failed fintech business. I don’t say this glibly as it is in my interests to be part of a thriving UK financial technology industry. I do however think that we need to analyse ‘sustainable’ fintech and concentrate on that arena. Companies like Powa Technologies, the payments group, stand out. Powa was at [...]
Budget 2016: George Osborne’s plan to create pension Isas could create “Northern Rock-style run on the pension system”, Hargreaves Lansdown March 4, 2016 George Osborne's plans to reform pension taxation by creating so-called pension Isas could cause a "Northern Rock-style run on the pension system" – and may end up costing investors billions of pounds. The plans are expected to be revealed as part of the chancellor's Budget on 16 March. It is thought they will see the current regime scrapped in [...]
Sainsbury’s paves the way to make hostile bid for Argos parent Home Retail Group following bid from Steinhoff March 3, 2016 Sainsbury's has cleared the way to make a potential hostile bid for Argos parent company Home Retail Group. The supermarket was all set to take over the business, having made an offer valuing the firm – which no longer includes Homebase – at £1.3bn. However it was gazumped at the last minute by Christo Wiese-backed Steinhoff, [...]
AO World’s share price rises as chairman Richard Rose reveals plans to step down March 3, 2016 AO World's non executive chairman Richard Rose is to step down from the board after eight years at the electrical retailer. Rose will stay on the board until a successor is found, most likely in time for the AGM in July. The company's senior independent director, Brian McBride, will lead the nominations committee process to find a [...]
Consumer goods groups challenge financials to become biggest sector in FTSE 100 as Barclays, HSBC, RBS and Standard Chartered share prices plummet year-to-date March 3, 2016 Consumer goods groups are challenging the dominance of financial firms in the FTSE 100 for the first time in a decade. The two sectors are neck-and-neck, with consumer goods actually overtaking financials briefly during February, rising to account for 20.85 per cent of the FTSE 100, compared with 20.61 per cent, before slipping back down again. [...]
What becomes of the broken hearted: “Moments of joy” can cause as much heart damage as anger, grief and fear March 3, 2016 The joy you experience watching your son getting married, becoming a grandparent or meeting an old friend after years apart can cause as much damage to your heart as severe stress, anger or grief, a new study claims. While three-quarters of cases of takotsubo cardiomyopathy – which can be fatal, although in most cases is temporary – [...]
Schroders chief executive Michael Dobson to step down after 14 years as asset manager’s profits climb 14 per cent March 3, 2016 Schroders chief executive Michael Dobson is leaving Europe's second largest public investment group after 14 years at the helm. Dobson will stay on until April when he will be replaced by Peter Harrison, head of investment, who was widely tipped as his successor. Dobson will then become non-executive chairman. Schroders' share price rose 2.8 per cent as [...]
