Sports retailer defies odds to increase sales July 16, 2015 SPORTS Direct managed to shrug off a year of bad press surrounding its use of zero-hours contracts, as well as England’s early exit from the World Cup, to increase revenue and profit in the 12 months to April 2015. Group revenue rose by 4.7 per cent to £2.83bn, from £2.71bn in 2014, helped by its [...]
China’s unravelling: Will it devalue the yuan next? July 16, 2015 China could be gearing up to join the global currency wars by devaluing the renminbi. So far this year more than 30 central banks from all over the world, including South Korea and Australia, Canada and Hungary have cut interest rates – which works to weaken their currency. Since the global financial crisis, central [...]
London and UK house prices rise: First-time buyers face stiffest competition as average home in capital hits £615,115 July 16, 2015 London house prices climbed 7.8 per cent over the past 12 months, new figures show, with demand outstripping supply most heavily in the first-time buyer market. The average greater London house price is currently £615,115, according to data published today by Rightmove. Properties at the top end of the market have seen the biggest 12-month [...]
Worldview lays out reasons for Petroceltic EGM July 16, 2015 THE BATTLE between Irish oil company Petroceltic and its activist investor Worldview Capital is showing no signs of reaching a conclusion in the near future. Shares in Petroceltic fell by 3.33 per cent yesterday, after Switzerland-based Worldview laid out the reasons behind its requisitioning of an extraordinary general meeting (EGM). The shareholder is alleging that [...]
Rio Tinto withstands harsh Australian weather conditions to push iron output up in first half July 16, 2015 MINING giant Rio Tinto yesterday reported an uptick in production during the first half. Global iron ore production was up by 11 per cent in the first six months of 2015 compared to the same period of last year, to 154.3m tonnes, while shipments of the commodity increased by eight percent, to 153.9m tonnes. The [...]
Playtech’s offer for Plus500 gets the green light July 16, 2015 PLUS500, the online trading company recently part of a money laundering probe, yesterday won shareholder approval for a takeover by Playtech. The majority of investors voted in favour of the £459.6m offer from the Israeli gaming technology company, despite opposition to the deal from the largest shareholder, hedge fund supremo Crispin Odey. Close to 93.4 [...]
Fraud and credit checks bolster Experian’s sales July 16, 2015 Data company Experian yesterday posted a five per cent rise in first-quarter revenue in the UK, with particularly strong growth in its anti-fraud services. “We’re making solid progress in the UK and Ireland, with further revenue momentum in the quarter, and good strategic progress as we secured a number of significant client wins by combining [...]
Government on the tourist trail with new regional funding plan July 16, 2015 The Prime Minister will today announce the government’s new five point plan to boost tourism across the UK, with £15m funding available to the north and the south west of England. A group of ministers from several departments, including the Home Office and the department for business, innovation and skills, led by culture secretary John [...]
Londoners more likely to keep savings from spouse: One in ten holds secret stash in bank account report reveals July 16, 2015 Over one in ten Londoners are saving money in bank accounts and deliberately keeping it quiet, a report from Lloyds Bank reveals. Lloyds Bank claims that an average of one in ten UK residents keep at least part of their savings a secret from their partner. London’s rate is slightly above this at 12 per [...]
City Moves for 17 July 2015 | Who’s switching jobs July 16, 2015 Marketform The Lloyd’s underwriter has announced the appointment of Alistair Marriott as joint deputy head of marine and class underwriter cargo. He joins from QBE, where he was cargo portfolio manager for the past 12 years. Allianz Global Investors The investment management firm has appointed Johnnie Barnett as director of UK institutional business development. He [...]
