Foreign buyers push City into deals boom: Biggest haul of British M&A activity since before financial crisis June 30, 2015 Britain has experienced the biggest boom in M&A since the financial crisis thanks to a rush of overseas buyers, according to figures out today. Weaker sterling, low interest rates and renewed corporate confidence have sparked acquisitions of everything from oil companies to tin can makers since the start of the year. The total [...]
Greek debt crisis: Greece finally in arrears as it fails to meet deadline for IMF payment June 30, 2015 Greece has officially become the first Western country to go into arrears on its debt to the International Monetary Fund (IMF) after failing to meet last night’s deadline for a repayment of €1.5bn (£1bn), despite a last-ditch attempt to reach a deal with its creditors yesterday. The IMF confirmed late last night that the [...]
Vickers defends his ring-fencing bank reforms June 30, 2015 THE ARCHITECT of the UK’s post-financial crisis banking reforms staunchly defended his recommendation for retail banks to be ring-fenced yesterday, saying the case is stronger than ever. Sir John Vickers, who headed up the Independent Commission on Banking (ICB) that recommended the reforms in 2011, told the House of Lords Economic Affairs Committee: “In my [...]
Heathrow and Gatwick await historic verdict June 30, 2015 HEATHROW and Gatwick were gearing up for a media circus last night, ahead of publication of the biggest decision in the history of modern British aviation. The Davies Commission will this morning announce which of the two London airports will be expanded, with Gatwick hoping to build an extra runway and Heathrow looking at building [...]
City sizzling as heatwave hits June 30, 2015 LONDON is braced for the hottest day of the year today, as temperatures soar to a high of around 34deg C. Public Health England yesterday issues a heatwave warning and advised people to stay indoors between 11am and 3pm and drink plenty of water. The rising mercury could cause travel chaos, with trains slowed or [...]
Harriet Green to donate third of £5.7m Thomas Cook shares following Corfu deaths tragedy June 30, 2015 Former Thomas Cook chief executive Harriet Green was yesterday awarded shares worth almost £5.7m, but will donate one third to charities chosen by the parents of two children who died in Corfu while on holiday with the tour company. Green, who stepped down from the role in November, was given 4.1m company shares, which had [...]
Carpetright adds sales by wooing higher earners June 30, 2015 CARPETRIGHT boss Wilf Walsh said yesterday that its strategy to woo more middle class shoppers to its stores was paying off, after posting a strong recovery in UK sales. The retailer, which kits out homes with carpets, rugs and flooring, reported an 183 per cent surge in underlying pre-tax profits to £13m for the year [...]
St Modwen hails record profits as New Covent Garden Market scheme boosts net asset value June 30, 2015 St Modwen posted a 21 per cent surge in net asset value (Nav) in the first half of the year thanks to its New Covent Garden Market scheme in Nine Elms, which achieved unconditional status in April. The developer reported an Nav per share of 394p after its planned overhaul of the UK’s biggest fruit [...]
Tesco share price falls, sales slide as discounters march on ahead June 30, 2015 Tesco shares were dealt a blow yesterday, after industry figures revealed another slowdown in sales at the troubled supermarket chain – despite its recent efforts to turn itself around. Data from Kantar Worldpanel showed sales at Tesco fell by 1.3 per cent in the 12 weeks to 21 June, underperforming the overall grocery [...]
Ocado confident of closing first deal with international retailer June 30, 2015 OCADO said yesterday it was confident of signing its first deal with an international retailer this year, after delivering better-than-expected first half sales. The online grocer’s shares rose more than 15 per cent in June on hopes that it would announce a deal alongside its results. They fell in early morning trading as a deal [...]
