Donald Trump hands top job at commerce department to Bank of Cyprus vice-chairman December 1, 2016 President-elect Donald Trump has appointed the vice-chairman of soon-to-be London-listed Bank of Cyprus as his secretary of commerce. Billionaire investor Wilbur Ross was a key Trump ally during his bid for the White House. Similar to the President-elect, he has criticised the North American Free Trade Agreement and blamed China's entry into the World Trade Organisation in 2001 [...]
Team Sky star-signing urges public to look at the facts in Wiggins saga November 30, 2016 An Olympic gold medalist team-mate and new Team Sky signing has hit back at criticism of Tour de France winner Sir Bradley Wiggins. Owain Doull said the outrage surrounding Wiggins’s controversial use of therapeutic use exemptions (TUEs) on the run-up to his 2012 Tour de France victory had been “blown out of all proportion”. Wiggins’s [...]
Spitfire owner lands five new pubs and draws down £25m from lenders November 29, 2016 The brewer best known for its Spitfire ale has agreed to splash-out £12m for five high-end Kent boozers. Shepherd Neame will buy Village Green Restaurants from Alex and Helen Bensley, who run the pubs in and around the garden of England. The five premises are no slouches, raking in an average of more than a million pounds of [...]
Topps Tiles shares lead the way on the small cap today November 29, 2016 Topps Tiles' shares were the best performers on the FTSE Small Cap today, jumping four per cent in trading after revealing its full-year financial performance. The figures Annual revenues nosed up just 1.3 per cent to £215m but profit before tax jumped 7.8 per cent to £22m. Gross margins – the incremental additional profit made on each unit sold [...]
Don’t listen to the “cabal” of elites trying to keep us in the EU, says Wetherspoon boss November 29, 2016 The boss of Britain's largest pub chain has attacked a "cabal of politicians and elite groups… fighting to overturn the [Brexit] decision" comparing them with "undemocratic and totalitarian" regimes of the past. Wetherspoon's chairman and founder Tim Martin, who was vocal in campaigning for Britain to leave the EU in the run-up to the Brexit vote, warned [...]
It might not be our problem in the future: Southern rail’s owner cuts pension costs to reflect “limited responsibility” November 29, 2016 It's been a nightmare year for Southern rail. But its owner was given a boost today after revealing its profits will leap by 38 per cent, simply by changing the way it accounts for its railway pension costs. Go-Ahead shares were one of the top movers in the FTSE 250 this morning, up over three per cent, following [...]
Regulators promise “once in a generation” changes to payment systems, bringing Britain’s banking into the 21st century November 29, 2016 The way businesses and consumers pay their bills is scheduled for the largest shake-up in decades under plans proposed by regulators. Three of the main retail payment systems – Bacs, Cheques and Credit Clearing Company and Faster Payments Service – are to be binned and replaced with what authorities hope is a clearer and more [...]
Surely it was only a matter of time? Motorpoint breaks ranks and reveals Brexit impact November 29, 2016 Car dealer Motorpoint's share price fell three per cent this morning after blaming a "disappointing" first half of the year on the Brexit vote. The figures Revenue jumped 11.5 per cent to £408.9m in the six months to September. But operating profits flopped nearly a third – down from £10.3m to £7.0m. Motorpoint managed to keep its [...]
Liberty closes in on a £100m deal to save South Yorkshire steel plants November 28, 2016 Thousands of steelworkers' jobs are one step closer to being saved after steel giant Liberty House (Liberty) entered into exclusive negotiations with Tata Steel. A letter of intent was signed by Liberty, which is hoping to buy several of Tata Steel's South Yorkshire-based sites. The Indian conglomerate has put a price tag £100m on the assets. Read more: Tata [...]
Thomas Cook reveals €300m bond raise in the hope of reducing core facilities by £200m November 28, 2016 Thomas Cook today revealed plans for a new corporate bond to raise at least €300m (£256m) in an attempt to strengthen its balance sheet. The travel group has a hefty £1bn on corporate bonds currently placed on the market and plans to use the latest issuance to fund repayment of £200m of bonds which mature in 2017 [...]
