Greek debt talks collapse: European equities hit by Grexit fears February 17, 2015 European markets were knocked by fears of a Grexit this morning, after the collapse of emergency negotiations last night. The FTSE 100 dropped 0.13 per cent, while Germany's Dax fell 0.7 per cent and France's Cac dropped 0.9 per cent. Meanwhile, equities in Athens fell four per cent, led by banking shares, which dropped more [...]
Aldermore profits double in the run-up to its IPO February 17, 2015 The figures Pre-tax profits at challenger bank almost doubled to £56.3m in 2014, the bank – which is on the brink of listing on the stock exchange – said this morning. You can see why it wants to list: deposits jumped 29 per cent to £4.5bn, while net lending to businesses and home owners up 42 [...]
General Election 2015: Businesses don’t actually hate Ed Miliband’s economic plan February 16, 2015 Labour may have come under fierce criticism for his approach to business (see "50p rate of tax") but it turns out the private sector wasn't totally turned off by Ed Miliband's latest proposals. Speaking to an audience at the Jaguar Land Rover factory in Wolverhampton (very "man of the people"), Miliband set out a raft [...]
Quindell share price jumps 8.3 per cent as Morgan Stanley increases stake February 16, 2015 Shares in Quindell jumped more than eight per cent to 74.25p in mid-afternoon trading, after Morgan Stanley increased its stake to more than five per cent. Shares in the insurance claims processor lost more than 90 per cent of their value last year, after the company was accused of having "magical… paper profits" by mysterious US-based [...]
Pizza Hut serves cocktails in an effort to win back the hipster generation February 16, 2015 Pizza Hut, that bastion of teenage dining, has unveiled plans to win back the hipster generation – by serving cocktails. Yep, from now on you can sip a Southern Punch as you chow down on your Texas Meat Meltdown, after the chain announced plans to spend £1.67m on a major revamp. Pizza Hut on The [...]
The end of cheap oil? Brent crude just hit its highest price in two months February 16, 2015 Brent crude oil rose sharply to more than $62.17 per barrel today, its highest price since December. The black stuff built on strong gains over the past two days. West Texas Intermediate (WTI) crude rose to $53.14 per barrel. Last week Brent crude climbed above $60 per barrel for the first time since just before [...]
The US’ new drone rules could completely scupper Amazon’s plans for drone delivery February 16, 2015 Amazon's hopes to deliver packages by drone may be dashed by the new rules (Source: YouTube) After almost four years of delays, the US Federal Aviation Authority (FAA) has finally released its proposals for rules governing the use of "small drones" (anything under 55lbs). It's what US drone enthusiasts have been waiting for: until now, [...]
Rolls-Royce dragged into Petrobras bribery scandal February 16, 2015 Shares in embattled engineering giant Rolls-Royce opened 0.8 per cent lower this morning, after it was revealed it has been dragged into a multi-billion dollar bribery scandal by Brazillian state oil producer Petrobras. The company has been accused of paying out bribes in exchange for contracts to build gas turbines for oil platforms. The accusations [...]
HSBC boss Stuart Gulliver memo: “Sometimes we failed to live up to standards expected by society” February 13, 2015 HSBC boss Stuart Gulliver has admitted in a memo to the bank's staff that it failed to live up to expectations, after it was accused of helping thousands of customers of its Swiss private banking arm to evade tax. Reuters reported today that the memo also indicated he had been called to give evidence to "lawmakers". [...]
HSBC boss Stuart Gulliver memo: “Sometimes we failed to live up to standards expected by society” February 13, 2015 HSBC boss Stuart Gulliver has admitted in a memo to the bank's staff that it failed to live up to expectations, after it was accused of helping thousands of customers of its Swiss private banking arm to evade tax. Reuters reported today that the memo also indicated he had been called to give evidence to "lawmakers". [...]
