Competition watchdog demands comparison site for payday loans June 11, 2014 PAYDAY borrowers would be treated fairly only when they could properly compare loans, the Competition and Markets Authority said yesterday. The sector already displays a range of prices and varied quality of service, the CMA’s probe found, but it said competition was not working properly at the moment. Without such a move, the average borrower [...]
JK Rowling donates £1m to Scots no campaign June 11, 2014 JK Rowling has donated £1m to the Scottish no campaign, warning that it would be a “historically bad mistake” to allow the nation to split from the rest of the UK. The Harry Potter author was subjected to online abuse over the donation, after she wrote on her website: “If we leave… there will be [...]
Air conditioning pioneer Volution Holdings airs out plans for listing June 11, 2014 The British manufacturing firm that installed extractor fans for Sir Winston Churchill during the Second World War is heading to the London stock market after unveiling plans for a £300m listing. Volution Holdings, which owns Vent-Axia – the engineering firm famed for supplying ventilation to 10 Downing Street during the war – will raise £72m [...]
Elior rises on return to market June 11, 2014 BRITISH-owned catering company Elior rose just over one per cent on its Paris stock market return yesterday. The group, owned by UK buyout shop Charterhouse, closed the day at €14.90 a share, having listed at the lower end of the range at €14.75. It had previously set a price range of €14.35 to €17.50. Elior [...]
Game starts trading in London June 11, 2014 HIGH street video games retailer Game Digital saw its shares slip 0.5 per cent during its first day of trading yesterday. Game, which listed on the London Stock Exchange’s premium segment, saw its shares close just under its 200p offer price at 198p. The group itself had initially banked on a £400m initial price offering [...]
Numis boss bags £8m share sale June 11, 2014 NUMIS boss Oliver Hemsley has made more than £8m after selling shares in the company. Hemsley, who founded the business, sold 3m shares – or about a quarter of his stake – at 270p each. He now owns just over eight per cent of the business. Shares in FTSE listed Numis Corporation fell one per [...]
WH Smith halts sales fall with overseas shops June 11, 2014 WH SMITH, the books to stationery retailer, brought years of sales decline to a halt in the last quarter, thanks to its strategy of opening more shops in airports and travel locations around the world. Shares in WH Smith edged up 1.5 per cent yesterday as it revealed that total group sales were flat in [...]
UK Coal loan falls through June 11, 2014 COAL producer Hargreaves Services has withdrawn a loan offer to rival miner UK Coal, saying it could not agree to a loan plan with other parties discussing the managed shutdown of the company. UK Coal, Britain’s largest coal producer, went into administration last year and trading has deteriorated further due to competition from cheaper coal [...]
Zara owner Inditex’s quarterly profits hit by falling currencies June 11, 2014 ZARA and Massimo Dutti owner Inditex posted its biggest fall in quarterly profits in half a decade yesterday after a strong euro dragged down sales. Net profits fell to €406m in the first quarter compared with €438m the same time last year. Falling currencies in some of its markets, such as Japan and Russia, knocked [...]
Woodford to weigh in on AA float June 11, 2014 WOODFORD Investment Management, the new fund of veteran manager Neil Woodford, is set to make a “substantial investment” in the flotation of the AA, City A.M. understands. Woodford’s plan to make a major commitment to the intial public offering (IPO) of the breakdown recovery firm was originally reported by Sky News. The AA’s intention to IPO [...]
