Aena IPO: Spanish market set for takeoff with Luton airport owner’s float February 10, 2015 Luton airport's Spanish owner Aena priced its looming stock market blockbuster at the top of the range yesterday – underscoring a burgeoning confidence among investors and dealmakers about Spain’s rejuvenated capital markets and economy. Aena, which will sell shares for €58 a piece to value the group at €8.7bn, has covered its books five times [...]
Weak Eurozone dampens boost of low oil prices February 10, 2015 World growth will not surge on falling oil prices, analysts at Moody’s said today, because problems in the Eurozone and China’s economic slowdown will dampen any boost. The impact of lower oil prices may even have an adverse effect in some struggling Eurozone countries, said the author of the report. “In the Eurozone, the fall [...]
Tesco returns to growth as Drastic Dave’s overhaul gets underway February 10, 2015 TESCO has returned to growth after one of the most turbulent years in its history, according to the latest market share figures, in a sign that chief executive Dave Lewis’s turn-around efforts are starting to pay off. Sales increased by 0.3 per cent in the 12 weeks to 1 February compared with the same time [...]
Xmas hangover causes retailers January blues February 10, 2015 SHOPPERS held back on their spending in January after splashing out over Christmas and Black Friday, according to accountancy firm BDO. Figures from BDO’s High Street Sales Tracker show that sales from stores open at least a year at mid-sized high street chains grew just two per cent last month. Like-for-like sales jumped 10.3 per [...]
Icap gets boost from central bank meddling February 10, 2015 Icap’s revenues fell in the third quarter, the interdealer broker said yesterday, but it did get a boost from the Bank of Japan and the Swiss National Bank’s policy changes. Revenues fell two per cent on the year, led by an eight per cent dive in incomes from the Global Broking unit. As a result that arm [...]
AA looks to cull 300 jobs as post float cost-cutting drive begins February 10, 2015 ROADSIDE recovery service AA is planning to cut 300 jobs as part of a wide-ranging review into costs, it is understood. The cuts, which will all be back-office, will come as part of a review into its costs, launched following its float last year. It is understood they will take place as the company “significantly” [...]
Profits jump at Catlin ahead of XL Group deal February 10, 2015 INSURER Catlin Group made a profit of $488m (£320m) in 2014, up 13 per cent from the $432m posted in 2013. The Lloyd’s of London insurer also reported a 12 per cent increase in gross written premium, which grew from $5.32bn to $5.97bn, but combined operating ratio worsened, from 85.6 per cent to 86.8 per [...]
Hornby steams ahead as train sets boost sales over Christmas February 10, 2015 Model railways and Scalextric train sets were on people’s wishlists this Christmas, helping toymaker Hornby deliver a five per cent rise in third quarter sales. The Kent-based company said UK sales over the three months from 1 October were seven per cent ahead of the same time last year and that the year ahead looked [...]
Great Ormond Street Children’s Hospital wins Morgan Stanley contest February 10, 2015 Morgan Stanley has announced that Great Ormond Street Children’s Hospital will become its new charity partner, after a vote by their 5,000 London employees. The bank aims to raise £1.5m over the two year partnership. Employees will raise £750,000, which will be matched by the Morgan Stanley International Foundation. The money will be used to [...]
Conservative silent auction: Who will be shoe shopping with Theresa May? February 10, 2015 The annual Conservative Party black and white fundraising ball was on Monday night at the Grosvenor House Hotel in Mayfair. The highlight of the evening was an auction, with various exclusive lots up for grabs. Lots this year included budgets signed by George Osborne, and doing an Iron Man (not quiet man) Endeavour with [...]
