Co-op Bank says it is on track to meet Bank of England targets May 20, 2015 The Co-operative Bank said in a first-quarter trading statement yesterday that its turnaround plan is on track. The bank is undergoing changes to de-risk its balance sheet and meet revised deleveraging targets as set by regulators after the Bank of England stress tests last year. The bank completed a £1.5bn residential mortgage securitisation earlier this [...]
Zoopla reports a post-election housing boost May 20, 2015 PROPERTY website Zoopla said that the Conservatives’ success at the General Election is helping the housing market, as the company announced a rise in profits yesterday. Zoopla saw adjusted core earnings rise 14 per cent to £21.4m in the six months to the end of March. The company’s chief executive Alex Chesterman said that the [...]
London’s property boom lifts value of Great Portland’s estate May 20, 2015 Great Portland Estates (GPE) yesterday reported an 18 per cent surge in the value of its portfolio over the year, thanks to London’s booming property market. The developer’s net asset value per share rose by 24.6 per cent to 709p over the year to 31 March while profit before tax was up 17.4 per cent [...]
David “London” Lammy and John “Flashy” Whittingdale recorded in Hansard May 20, 2015 Making sure the political back-and-forth is properly noted in Parliament’s official record – Hansard, is a difficult job. You might think though that just listing the names of the MPs, in the order in which that are sworn in, is one of the easier tasks that the minuters have to do. Apparently not. A quick [...]
UK Mail Group share price dips as firm delivers more packages but less profit May 20, 2015 Shares in UK Mail Group slipped yesterday after the package delivery firm’s pre-tax profits fell despite a rise in overall volumes. While delivery numbers for both mail and parcels rose 4.7 and 7.4 per cent respectively, the firm’s operating profits for both sectors declined as margins were squeezed. UK Mail particularly benefited from [...]
Sap says salesforce value too high to scale May 20, 2015 Software firm SAP’s boss Bill McDermott again ruled out a bid for Salesforce.com, and said its rival is unlikely to lure any other industry player to bid too. Salesforce, which has naming rights to the Heron Tower brushed off the SAP snub with some expectation-beating results Full year revenue rose 23 per cent to $1.51bn [...]
Gulfsands Petroleum looking for funding after posting $16m loss May 20, 2015 TROUBLED oil firm Gulfsands Petroleum needs to secure at least $20m (£13m) in extra funding to repay loans and carry on operating in Morocco, according to analysts. The company said yesterday that it was seeking short-term funding from shareholders, after posting a loss of $16.1m in 2014, compared to a $26.8m loss in 2013. The [...]
Profits up at SSE as it winds down coal generation May 20, 2015 ENERGY company SSE yesterday reported a 24.1 per cent jump in pre-tax profit in the 12 months to 31 March, and also announced that its loss-making coal-fired operations at Ferrybridge will close next year. The group posted pre-tax profit of £735.2m, up from £592.5m, while operating profit stayed flat at £1.88bn. The dividend was increased [...]
Spotify puts the spotlight on video content May 20, 2015 Music streaming service Spotify yesterday announced that it has made its first move into video and signed some major media partners. The firm said it has partnered with the BBC, MTV, ESPN, Comedy Central and Jimmy Kimmel Live (above), as well as some major podcasting networks.
City Moves for 21 May 2015 | Who’s switching jobs May 20, 2015 LDC The private equity investor has appointed Simon Adcock as a portfolio director. Adcock, a qualified accountant with nearly 20 years of big four advisory experience, joins from Deloitte, where he was regional head of its corporate advisory business. He began his career at KPMG. Duff & Phelps The valuation and corporate finance adviser has [...]
