Deadline to Breadline is extended but L&G warns over affect of rise in rates November 24, 2014 An average working-age family will be reliant on state benefits and friends and family alone for financial support within two weeks of losing their income, once their savings run out, a report reveals today. And according Legal & General’s latest Deadline to the Breadline Report, with over 65s included, the overall average deadline is still [...]
Gail’s IPO: London bakery decides to keep its bread in the oven as it delays flotation November 23, 2014 Upmarket London bakery Gail’s has delayed until the new year plans to float on the stock market. The company, which has 17 bakeries in the capital’s more affluent neighbourhoods, such as Barnes, Dulwich Village and Hampstead, is part owned by serial entrepreneur Luke Johnson, who is also chairman. Earlier this year, Johnson’s investment firm, Risk [...]
BetFred founder to chair CardOne November 23, 2014 Betfred founder Fred Done is to become the chairman of a fast-growing challenger bank, CardOne Banking. Done started the BetFred chain – Britain’s biggest independent bookmaker – with his brother Peter in 1967. CardOne offers current accounts to more than 20,000 people and businesses across Britain. It charges a monthly fee of £12.50 and does [...]
Piers Linney’s Outsourcery sees share price reach the clouds after Microsoft tie-up November 20, 2014 Cloud computing company Outsourcery yesterday saw its share price rocket almost 50 per cent following an announcement that it had been named as a Microsoft Cloud Solution Provider. The company, co-led by Piers Linney, of BBC2’s Dragon’s Den, has been named as one of a handful of firms in the UK which will be able to [...]
Mild winter and lower use hit Centrica outlook November 20, 2014 BRITISH Gas owner Centrica yesterday reduced its earnings forecast, as milder winter weather cut into its revenues. The firm said the average residential gas consumption for the first 10 months of the year was 21 per cent lower than in 2013, while the average electricity consumption was down seven per cent. It added that the [...]
GoDaddy pushing ahead with $4.5bn IPO as Google announces plan to enter its domain November 20, 2014 GoDaddy.com is pushing ahead with an initial public offering (IPO) early next year that would value the world’s biggest domain registration service at roughly $4.5bn (£2.9bn). A report yesterday in the New York Post said that chief financial officer Scott Wagner met analysts last week to give an update on GoDaddy since it first filed [...]
Alibaba debut bond is more than five times oversubscribed November 20, 2014 Chinese e-commerce giant Alibaba has $43bn (£27.4bn) of orders from investors in yesterday’s debut bond offering, more than five times what it was said to be seeking. Asia’s biggest internet company planned to sell the debt in a seven-part transaction, sources who asked not to be identified because the details were private told Bloomberg. Alibaba [...]
Eastern woes weighing on Raiffeisen Bank November 20, 2014 AUSTRIAN group Raiffeisen Bank International posted a €119m (£95m) net loss in the third quarter, as the Russian rouble’s crash, tensions in Ukraine and Hungarian legislation hit its lending and banking operations. Karl Sevelda, Raiffeisen’s chief executive, said that such “negative one-off effects” had hit the bank’s results. However, he hoped it would bounce back [...]
Brakes put on UK car production November 19, 2014 BRITISH car production went into reverse gear last month as growing uncertainty about economic prospects abroad hit demand. The number of vehicles rolling out of UK car factories fell by 6.7 per cent to 150,060 in October compared with the same month last year. The decline also pulled output in the year to date below last [...]
CLS vacancy rates buoyed by markets November 19, 2014 CLS Holdings yesterday said the vacancy rate across the group reduced to 3.1 per cent by rental income from 3.5 per cent since the end of June, helped by the markets in London and France. CLS said demand from existing and potential occupiers was steady, with good interest in London and France. “Continuing signs of [...]
