Analyst Views: What did you make of the results? February 5, 2014 JAMES HAMILTON | NUMIS Operationally Hargreaves Lansdown continues to perform well, dominating the direct to retail platform space with a 32 per cent market share. This market continues to develop at a rapid pace and consequently we expect the group to continue to deliver strong growth. JONATHAN JACKSON | KILLIK & CO On retail distribution [...]
ICAP profits fall as investment banks cut back February 5, 2014 INTERDEALER broker ICAP reported falling incomes in the past six months as bank deleveraging hit its business volumes. Group revenue fell six per cent in the third quarter, compared with the same period of 2012 the broker said. The introduction of new rules in the swaps market also hit incomes. However, the start of tapering [...]
Glaxo insists its pipeline will be key to profit lift February 5, 2014 UK PHARMA giant GlaxoSmithKline brushed off worries over the Chinese bribery scandal yesterday, announcing sales growth for the end of last year and a bullish forecast for 2014. Revenues should climb by two per cent this year, Glaxo expects, driving earnings per share growth of between four and eight per cent. The company, Britain’s largest [...]
Bottom Line: Upbeat Witty sets his company a high bar February 5, 2014 FORGET the Chinese whispers surrounding GlaxoSmithKline’s problems in the Far East – chief executive Sir Andrew Witty is shouting from the rooftops. His bullish message yesterday could not have been clearer – Glaxo’s pipeline is thick and healthy; threats from generic competition are overstated anyway; the firm is in pole position to benefit from emerging [...]
Banks warned cyber attacks still a big threat February 5, 2014 BANKS need to better co-ordinate their response to any future cyber attack if they are to resist the assault and keep key systems functioning, a test of the industry’s capabilities has revealed. Finance firms are more open about such attacks than they used to be, the simulation – dubbed Waking Shark 2 – found, but [...]
Punch Taverns warns of default if debt restructuring is blocked February 5, 2014 PUNCH Taverns reminded bondholders yesterday of its imminent restructuring vote that the company warned rejection of would “have a material negative impact on the business”. The struggling pub operator announced plans to restructure its £2.3bn debt pile with lenders last month. “The next few days will be some of the most important in the Company’s [...]
Challenger Handelsbanken joins boom in mortgage loans February 5, 2014 BRITISH profits at Handelsbanken soared in 2013, the Swedish lender said yesterday, driven by strong increases in business and mortgage lending. Overall lending in the UK increased 17 per cent on the year to £12.26bn. Mortgage lending jumped 29 per cent to £3.58bn, while business lending increased 13 per cent to £8.68bn. As a result [...]
Royal Mail pay deal secured February 5, 2014 AN OVERWHELMING majority of members of the Communication Workers Union (CWU) have agreed to the Royal Mail’s new industrial strategy, including a deal on pay. On a 57 per cent turnout, 94.5 per cent of members backed the agreement, which will raise pay by 9.06 per cent in the next three years. Before the proposal [...]
Danny Alexander gets tough on tax cut plans February 5, 2014 CHIEF Secretary to the Treasury Danny Alexander has decided it is time to get tough over Tory plans to cut the top rate of tax. Speaking to the Mirror he said a cut to 40p would happen “over my dead body,” in a move being hailed as a return to his Lib Dem roots.
DMGT shares hit 13-year high as Zoopla eyes float February 5, 2014 PROPERTY search website and app Zoopla is heading towards a London initial public offering (IPO) after its majority owner, the Daily Mail & General Trust (DMGT), yesterday confirmed Zoopla’s board was considering “strategic options” for the company. Shares in DMGT rose to a 13-year high after the news emerged and closed up five per cent [...]
