Lloyds share price falls after stress test results revealed October 27, 2014 Lloyds Banking Group's share price fell two per cent on Monday trading, with analysts warning it could yet fail the Bank of England's more stringent stress test. The European Banking Authority had tested 123 banks’ capital buffers against a fictional crash, with a jump in unemployment, a renewed recession and falling house prices. Banks [...]
Monte dei Paschi shares suspended after Italian bank fails EU stress test October 27, 2014 Shares of Italy's third largest bank Monte dei Paschi di Siena were suspended this morning, after plummeting on the back of the news it had failed the EU-wide stress test. Monte dei Paschi's share price fell around 15 per cent this morning before shares were suspended. This is the second time in a [...]
Tesco’s falling share price eats away at Dave Lewis and Alan Stewart’s bonuses October 27, 2014 Here's another reason for Dave Lewis to be concerned about Tesco's tumbling share price – it's already cost him around a quarter of the bonus accrued at his previous employer Unilever. Tesco bought out awards that both Lewis and new chief financial officer Alan Stewart forfeited from leaving their previous employment, which in the [...]
Co-op Bank appoints Dennis Holt as chairman October 27, 2014 The Co-operative Bank has confirmed Dennis Holt as chairman of the board, a month after he stepped in on an interim basis. Holt joined the troubled bank as a senior independent director in February of this year, and was promoted when Richard Pym stood down to join Allied Irish Banks at the start of [...]
Rangers boss Graham Wallace resigns as club agrees £2m loan with investor Mike Ashley October 27, 2014 Rangers chief executive Graham Wallace has resigned after less than a year in the role, as the Scottish football club accepted a £2m loan from Newcastle owner Mike Ashley. In a statement issued this morning, Rangers' board thanked Wallace for “his contribution to the club during a difficult period”. Wallace was appointed chief executive [...]
Rangers’ finance chief Philip Nash resigns after Mike Ashley oust threat October 25, 2014 Glasgow Rangers' share price tumbled this afternoon on the news that director Philip Nash quit, three weeks after Mike Ashley called for his removal. Nash, who had prior stints as finance chief of both Liverpool and Arsenal, was brought in at the start of the year to help improve the club's standing after it [...]
London Mining sells Marampa mine October 24, 2014 London Mining, which entered administration last week, has sold its Marampa mine to Timis Corporation. The sale, which is expected to be completed “by the end of this week”, will include the transfer of the full workforce “provind stability for the economy of Sierra Leone”, the administrator said on Friday afternoon. PricewaterhouseCoopers was [...]
10 things we learned this week: From Tesco’s share price and Facebook’s tax bill to cures for Ebola and the EU budget October 24, 2014 What a week. From troubles at Tesco (not least its share price) to Facebook's UK tax bill, we've had a busy front on company news. And when it came to international goings-on, the EU really kept us on our toes, while Ebola continued to dominate the news. Here we digest the top 10 stories [...]
Ryanair’s share price drops as the budget airline locks Michael O’Leary in for five years October 24, 2014 Ryanair chief executive Michael O'Leary might wind up some of his customers, but the board clearly love what he's doing for the budget airline. O'Leary – whose quotes include comparing the BA/Iberia merger to a pair of drunks leaning on each other and once admitted that passengers are “bombarded” with offers the minute they [...]
In pictures: What does a £9.4m diamond look like? October 24, 2014 Petra Diamonds' share price lost its sparkle this afternoon after announcing it had sold its latest white diamond from the Cullinan mine at more than $15.2m (£9.4m). The 232.08 carat white diamond, which was recovered at the Cullinan mine in South Africa in September, was bought by multinational diamond company Diacore today for the [...]
