Bank stocks sink as European finance ministers prepare for Greece showdown February 11, 2015 Shares in Greek banks led a 3.5 per cent fall in the Athens Stock Exchange this morning, as European finance ministers from 19 countries prepared to meet in Brussels, with Greek finance minister Yanis Varoufakis expected to push to cancel Greece's bailout deal. A bailout from the European Union and the International Monetary Fund expires [...]
Poundland share price falls as its biggest shareholder sells larger-than-expected stake after 99p Stores acquisition February 11, 2015 Shares in Poundland slid 5.5 per cent to 393.9p this morning after Warburg Pincus, the discount retailer's largest shareholder, sold off 10m more shares than originally planned, after its acquisition of 99p Stores last week. The investor said yesterday it was planning to sell of 25m shares (about £101m worth) – but this morning, it [...]
Thomas Cook share price falls five per cent on first quarter results February 11, 2015 The figures Having risen yesterday, Thomas Cook shares promptly shed those gains this morning, losing more than 5.5 per cent in early trading, after it posted figures showing first-quarter profits had dipped to £327m in the three months to the end of December, down from £365m during the same period the year before. Like for [...]
Apple smashes $700bn valuation: Three charts that perfectly sum up just how massive Apple is February 11, 2015 As markets closed in New York last night, Apple officially became the first company in US history to record a valuation of more than $700bn at close of trading. If there had been any doubt as to whether Apple was the biggest company in the world (and there had been – last year, Apple was [...]
AA to cut 300 jobs February 10, 2015 Roadside recovery service AA is planning to cut 300 jobs as part of a wide-ranging review into costs, it is understood. The cuts, which will all be back-office, will come as part of a review into its costs, launched following its IPO last year. It is understood they will take place as the company "significantly" [...]
Commuters face more Tube misery as RMT members vote to strike on Northern Line alcohol dismissal February 10, 2015 There's more Tube misery on the way for London commuters – members of the Rail, Maritime and Transport (RMT) union today voted in favour of a Tube strike, after a driver was dismissed for allegedly failing an alcohol breath test before he went on duty. The vote means the strike could take place any time [...]
Michael Hayman: Why the government’s “Help to Grow” could transform UK entrepreneurship February 10, 2015 The "Help to Grow" scheme announced today by the Prime Minister marks an important new chapter in the UK’s entrepreneur narrative. Once, we were dismissed as a nation of shopkeepers. Today that entrepreneurial spirit has supercharged the small business scene in the UK. A breathtaking statistic used by Xavier Rollet, CEO of the London [...]
Pound edges towards a seven-year high against the euro February 10, 2015 The pound rose as much as 0.5 per cent against the euro this morning, pushing it close to its highest since 2008. One euro now costs close to 74.1p, near the 74.3p it cost on Valentine's Day 2008. The rise followed encouraging data from the UK's manufacturing industry. Official data published this morning showed manufacturing [...]
Four surprising discoveries from Twitter’s latest transparency data February 10, 2015 Twitter has released the latest round of its bi-annual transparency data, showing requests for removal of data, account information and copyright notices from both governments and private individuals. The company has been making its data available since 2012, when it and other tech giants complained that governments were forcing them to disclose data they'd rather [...]
#HeartsOfLondon Mapped: These loved-up cycle racks are popping up all over London February 9, 2015 Either love is in the air for London's cyclists, or someone's just feeling a bit moony about bike security. Some 14 bright red love heart-shaped bike racks have popped up at locations across the capital in the spots where the ordinary black hoop-style ones usually are. The hearts – which have turned up just in [...]
