Afren suspends shares and cuts oil projections July 15, 2015 SHARES in troubled oil firm Afren were suspended yesterday due to uncertainty surrounding the ongoing review of its business plan. The group also revealed that its near-term production is likely to be “materially lower” than previously expected. Afren said it had become clear that projected production rates would not be met and added that uncertainty [...]
Burberry share price hit by slower trade in Hong Kong July 15, 2015 British fashion brand Burberry hopes to head off deceleration in the Hong Kong market with a variety of cost-reducing moves, including possible job cuts and downsizing. The company reported an eight per cent uplift in retail revenue to £407m in the first quarter of 2015. Shares in the group were down by 2.59 [...]
Singapore firm builds Galliard with £50m stake July 15, 2015 SINGAPOREAN property developer Oxley Holdings has bought a 20 per cent stake in Galliard Group for £50bn in a bid to expand within London. Oxley, which operates in Singapore, South East Asia, the UK and Ireland, already owns Royal Wharf in east London. It said its stake in Galliard will give it “greater capacity and [...]
Cath Kidston moves towards global expansion with Japanese purchase July 15, 2015 Cath Kidston Group has taken a major step towards achieving its global expansion plan by buying back its Japanese franchise business from Sanei International. The company did not reveal how much it had paid to buy back the Japanese operations. Cath Kidston Japan will take full control of the Japanese business from 1 September. Sanei, [...]
Challenger banks face an uphill battle as George Osborne widens levy net July 15, 2015 The heads of the UK’s fast-growing crop of challenger banks were entitled to reach for a stiff lunchtime drink as they absorbed the first Conservative Budget for two decades last week. At a stroke, George Osborne’s decision to impose a super-tax on industry profits above £25m undermined everything he has said about broadening competition [...]
Lidl celebrates record £4bn turnover as discounter cements place in UK with new head office July 15, 2015 Lidl’s UK operation has announced plans to build a new head office in Tolworth, south west London, in a move seen as cementing its big player status in the UK supermarket sector. The expansion comes in the wake of what the company said is its most successful trading year yet. The new office [...]
Chinese economic growth steady July 15, 2015 CHINA’S economic growth held steady from April to June, equalling its slowest growth since the global financial crisis. The economy was seven per cent bigger than it was during the same period last year, according to figures released by the Chinese National Bureau of Statistics yesterday. The economy has struggled to achieve the double-digit growth [...]
Comparison site results steadied by car insurance July 15, 2015 COMPARISON site Moneysupermarket said rising car insurance premiums are keeping the company steady after a slow six month growth period. Moneysupermarket’s trading update, released yesterday, claimed the company noted “a marginal increase in car insurance premiums.” Revenue since January saw an overall growth of 18 per cent, with insurance revenues rising by eight per cent [...]
JD Wetherspoon share price drops as founder Tim Martin attacks living wage July 15, 2015 Tim Martin, founder and chairman of 900-strong pub group JD Wetherspoon, has hit out at chancellor George Osborne’s living wage policy, claiming it could have an adverse impact on pubs. Martin warned: “The recent government announcement regarding the living wage adds considerable uncertainty to future financial projections in the pub industry.” He said: [...]
Zoops…Zoopla’s £13.85m gaffe July 15, 2015 A TECHNICAL glitch has shocked the residents of sleepy Stornoway in the Outer Hebrides, after property website Zoopla put a valuation of £14m on a semi-detached house not even up for sale. Zoopla yesterday showed six houses for sale in the town, ranging from a 4-bed town house priced at £225,000 to a 2-bed terraced [...]
