Lloyds share sale sparks Treasury rift as George Osborne ignores warning on value for money June 1, 2015 The Treasury is in disagreement with its own advisers over the sale of shares in Lloyds Bank, as George Osborne seeks to fulfil his General Election pledge to sell a large chunk directly to retail investors. The sale could prove popular, but would also mean selling the shares at a discount – reducing the profit [...]
Poldark makes ITV swoon June 1, 2015 MEDIA giant ITV yesterday snapped up the independent production company behind TV drama Poldark, the smash hit which set viewers’ hearts racing earlier this year thanks to the portrayal of romantic hero Captain Ross Poldark – played by Irish actor Aidan Turner. Mammoth Screen, which sold a 25 per cent holding to ITV for £1m [...]
Leaders in late night Greek debt talks fail to break deal deadlock June 1, 2015 German Chancellor Angela Merkel and other high-ranking officials met in Berlin late last night to discuss the prospect of a deal for Greece. The country faces a slew of hefty payments in the coming weeks and a real prospect of defaulting on its debt if it is unable to secure a reforms-for-cash deal with creditors [...]
Energy suppliers defend pricing despite government criticism June 1, 2015 Energy secretary Amber Rudd has told the “big six” energy companies to cut bills for consumers, saying the firms can no longer claim they are burdened by the promise of a Labour-led price freeze. Rudd sent letters to the six suppliers – British Gas, EDF Energy, E.On UK, npower, Scottish Power and SSE – on [...]
Juncker says UK does not want to leave the EU June 1, 2015 EUROPEAN Commission president Jean-Claude Juncker has said that he does not believe that the United Kingdom will vote to leave the European Union. In an interview yesterday with the German newspaper Suddeutsche Zeitung, Juncker said that a so-called “Brexit” was not what the British people or government wanted. “Brexit is not a question which arises, [...]
Goldman guy now known as lord O’Neill June 1, 2015 Lord O’Neill of Gatley, better known to the City as former Goldman Sachs economist Jim O’Neill, joined pensions minister Ros Altmann in being introduced for the first time in the House of Lords yesterday. The pensions expert is now Baroness Altmann of Tottenham.
Rail strikes are cancelled after new pay offer June 1, 2015 NETWORK rail workers called off a planned strike yesterday after receiving a revised deal. Workers were set to walk out for 24 hours on Thursday, followed by a two-day strike next week, after rejecting two pay deals. But commuters across the country can now breathe a sigh of relief after the strike was called off [...]
Morrisons to fall from FTSE 100 as investors leave it on the shelf June 1, 2015 MORRISONS is facing relegation from the FTSE 100, after being earmarked for demotion by the stock market’s committee. The supermarket, whose share price has fallen more than 15.5 per cent in a year, is the company “nearest to the 111th threshold” to enter the FTSE 250, the London Stock Exchange said yesterday. Satellite network operator [...]
HSBC plans to slash headcount and faces three new US lawsuits June 1, 2015 HSBC is set to announce plans to cut thousands of jobs across its global workforce next week. Stuart Gulliver, HSBC’s chief executive, will set out a revised target for headcount reductions that will be implemented by the end of 2017 at a investor day next week, according to Sky News. HSBC declined to comment. The precise [...]
Playtech makes £460m bid for Plus500: Boss Mor Weizer calls deal “immediately revenue enhancing” June 1, 2015 Playtech has announced that it is in the process of buying Plus500, in a deal worth nearly £460m. The online gaming firm said that it would pay 400p a share for the Israel-based and London-listed trading platform. The deal is expected to be concluded by the end of September. Plus500 has previously been [...]
