Miliband wants to regulate zero hours contracts April 24, 2014 LABOUR leader Ed Miliband is preparing to unveil plans for new legislation that he hopes will crack down on so-called zero hour contracts in the UK. Zero hour contracts require employees to be available for work when called upon, but with no guaranteed hours or times. Despite employer groups saying they are crucial for creating [...]
Amazon’s sales surge but costs continue to rise April 24, 2014 AMAZON’S sales soared 23 per cent during the first quarter to $19.74bn (£11.74bn), but were offset by a sharp increase in spending on technology, content and new warehouses as the e-commerce giant branches out into new businesses. Despite Amazon’s profits falling 19 per cent to only $146m, shares in the company showed a new lease [...]
Decline of the PC puts pressure on Microsoft’s new chief exec April 24, 2014 MICROSOFT, the world’s largest software company, smashed analysts’ profit estimates yesterday despite the pressure of falling computer sales. Shares in the tech giant rose almost three per cent in after hours trading to $40.96 (£24.37), keeping the stock at levels not seen since the internet stock boom. Microsoft reported quarterly profit of $5.66bn, compared with [...]
Housing market surges in March as fresh loan regulation looms April 24, 2014 MARCH was a boom month for the housing market according to a range of research released today, and ahead of the oncoming change in regulation with the mortgage market review. According to estate agents Barnard Marcus, London sales roared back from a winter slumber, with the number of transactions up by 34 per cent from [...]
KKR swells the coffers despite dip in profits April 24, 2014 PRIVATE equity firm KKR yesterday said its pot of cash available to shareholders had swelled by more than 50 per cent compared to last year, thanks to higher quarterly fees and the cash made from selling investments. However, its quarterly results were tarnished by poorer performance figures from unsold investments. The firm, founded by Jerome [...]
Bottom Line: Buoyant markets help KKR to keep investors onside April 24, 2014 THE START of 2014 has been the busiest for private equity exits since 2001, according to Mergermarket, with more than £65bn reaped for funds worldwide in the first quarter alone. As ever, KKR has been in the middle of the action – floating Pets At Home in London last month and taking Santander Consumer USA [...]
Inside Track: Three reasons why the new issues market is struggling April 24, 2014 AS ADVISERS to Saga put the final touches to the largest flotation so far this year in the London new issues market, it is an opportune time to look at where we stand. Few could deny that the London new issues market, so dormant a couple of years ago, has come back to life. Since [...]
US Zimmer deal boosts Smith & Nephew shares April 24, 2014 SHARES in Smith & Nephew jumped over three per cent yesterday following the buy-out of a group that tried to buy the British health firm back in 2011. New York-listed Zimmer revealed that it is snapping up rival US orthopaedic company Biomet for $13.35bn (£7.95bn). The deal has added more weight to a widely-held view [...]
Prettejohn joins Scottish Widows April 24, 2014 SCOTTISH Widows, the insurer owned by Lloyds Banking Group, yesterday unveiled veteran insurance executive Nick Prettejohn as its new chairman. Prettejohn has a strong insurance pedigree as a former chief executive of Prudential UK, Lloyd’s of London and an ex-chairman of Brit Insurance. Prettejohn will take up the post in June, and will also take [...]
Caixa Bank disappoints April 24, 2014 PROFITS dived at Spanish lender Caixa Bank after last year’s earnings were boosted by asset sales. Caixa yesterday reported pre-tax profits of €126m (£104m) for the first quarter, down 33.9 per cent on the same period in 2013. Revenues increased 4.3 per cent on the year to €1.8bn and operating expenses dipped 7.8 per cent [...]
