Hiscox appoints interim chair following Jonathan Bloomer yacht tragedy August 23, 2024 Insurer Hiscox has appointed an interim chair following the death of Jonathan Bloomer earlier this week alongside tech giant Mike Lynch.
Baillie Gifford US Growth: Investor patience ‘will wear thin’ over underperformance August 22, 2024 The £643m Baillie Gifford US Growth trust is at risk of investor patience wearing thin over its failure to keep up with the strength of US markets, analysts have warned. In the trust’s annual result, it revealed that its underlying assets grew by only 16.2 per cent throughout the year, compared to a 24.8 per [...]
Waiting game: Benchmark Holdings’ revenue dips as London escape bid continues August 22, 2024 Genetics specialist Benchmark Holdings has suffered a 17 per cent dip in group revenue over the last nine months, as the company attempts to escape from the London Stock Exchange by getting bought out. The company reported “solid performance in genetics and advanced nutrition amidst continuing soft shrimp markets” in its quarterly results, but revenue [...]
Serco: FTSE 250 firm bags new contract for US Space Force Pituffik base in Greenland August 22, 2024 British outsourcing giant Serco has won a $320m (£250m) contract to manage the electrical modernisation of the US Space Force’s Pituffik Space Base in Greenland. The contract, which began this month, will last four years. Serco will modernise the base’s backup electrical plant, enhancing the capacity and stability of the base’s electrical network. Pituffik Space [...]
Riverstone Energy share buyback programme marches on after £158m spending spree August 21, 2024 Riverstone Energy’s underlying assets per share ticked up seven per cent over the last six months, as the company continued an aggressive share repurchase programme. Riverstone’s monster share buyback programme has helped the energy-focused investment trust outperform its peer group over the past one and three years. The trust’s share price has returned 42.2 per [...]
Doric Nimrod Air Two: Guernsey-based fund makes £153m plane sale to Emirates August 21, 2024 Doric Nimrod Air Two has sold off five more planes to Emirates for £30.7m per plane after it sold two other plans to the company last year. The Guernsey closed-end fund will cash out of its five Airbus A380-861 that it bought in 2011, the fund said in a stock exchange announcement today. Over the last 12 [...]
Costain launches £10m share buyback as profit and backlog jumps August 21, 2024 Engineering firm Costain has kicked off a £10m share buyback after it revealed a set of strong results this morning. In its half-year results, the company revealed that adjusted operating profit had jumped 8.7 per cent to £16.3m, thanks to an increased operating margin at its transportation arm and increased revenue at its natural resources [...]
Why bond funds just had their best month in five years August 20, 2024 Bond funds just recorded their highest monthly inflows in the last five years, as investors flocked to the safe havens in anticipation of the market crash in August. European investors poured €32.3n (£37bn) into fixed income funds during July, data from Morningstar revealed. “This surge reflects a strong appetite for fixed-income strategies amidst varied global [...]
BT drags down FTSE 100 after shares slump August 20, 2024 BT shares slumped five per cent in early deals this morning after it was revealed that Sky had struck a broadband deal with one of its biggest rivals. Shares in the FTSE 100 telecoms giant extended losses to trade as low as seven per cent by mid-day. The stock’s performance dragged down the wider FTSE [...]
Dividend tax payers double over last three years as bill soars to £18bn August 20, 2024 The number of people expected to pay dividend tax has almost doubled over the last three years, new data has revealed. Around £18bn is expected to be brought in from the dividend tax in the 2024/25 financial year, according to a Freedom of Information request from AJ Bell, with almost 3.6 million taxpayers forking over [...]
