Trading update fails to excite investors as OneSavings Bank’s share price falls November 2, 2016 Double-digit growth is still on the cards at OneSavings Bank despite yesterday's resignations of two key board members. Shares in the challenger bank fell by over 1.5 per cent after it updated the market on trading this morning. The bank grew its loan book by 13 per cent for the first nine months of the year and net loans [...]
Southern Rail owner Govia Thameslink is the only division of Go-Ahead not to be growing revenues November 1, 2016 Government payments to the owner of Southern Rail have been slashed due to the network's under-performance in the wake of its ongoing battle with unions over the role of guards on its trains. Govia Thameslink passenger revenue fell three per cent in the three months to the end of September and the number of passenger journeys fell by 0.5 per cent. [...]
Franchise Brands just splashed out £1m on a dog sitting business November 1, 2016 Looking after man's best friend is far more lucrative than you might think. In fact, it's a near-million pound business in the UK… Barking Mad, a company operating 71 dog-sitting franchises across the UK, has been snaffled up by Aim-quoted Franchise Brands in a deal that values the company at £900,000. Read more: Meet the companies preparing to [...]
Weir’s shares sag following concerns about reduced orders November 1, 2016 Weir Group's shares slumped over five per cent in morning trading after announcing that orders were down seven per cent in the third quarter. The Scottish engineering firm, whose operations date back to 1871, said that its third quarter input order slump on the previous year was due to lower activity across its oil and gas divisions and [...]
Standard Chartered gets a tongue-lashing from its boss as share price plummets November 1, 2016 Shares in emerging markets lender Standard Chartered plummeted over six per cent this morning after its chief exec called his company out for a performance that was "not yet acceptable". The figures Third quarter revenues were slightly down at $3.5bn from $3.6bn in the year before and identical to the second quarter. Operating profits were [...]
The run on the pound hasn’t finished yet and will fall further when the PM triggers Article 50 November 1, 2016 Sterling will lose a further five per cent of its value against the dollar when Prime Minister Theresa May formally pushes the button to leave the EU. A poll of analysts revealed that the pound will most likely drop to $1.15 when May triggers Article 50, but Britain's currency will keep its nose above parity against the euro. [...]
Premium Bonds stand the test of time and celebrate their 60th birthday today November 1, 2016 There aren't many government initiatives that go pretty much untouched for 60 years. But the iconic Premium Bond celebrates its diamond anniversary today and while some elements may have changed, the central idea remains the same. Harold Macmillan launched Premium Bonds in 1956 as part of a government initiative to encourage post-war Britons to save more. The [...]
Smaller exporters have great expectations to capitalise on the weakness of the pound November 1, 2016 Small business exporters are starting to enjoy a Brexit boost from the weakness in the pound and have the strongest expectations for growth in nearly 30 years. Export orders, which have been declining since mid-2014, were flat over the last three months to October. Meanwhile, expectations of a growth in export orders are at there strongest levels since 1988 according [...]
A crackdown on VAT fraud could turn business leaders into “pariahs” October 31, 2016 Business leaders could be held personally responsible for employees going behind their back and undertaking fraudulent actions if government proposals are taken forward. An HM Revenue & Customs (HMRC) consultation on VAT reform closes for comments next week and experts are staggered that the plans heighten the bar of the level of detail company directors need to know. Businesses and [...]
Shares rise on the news that Lonmin has agreed a three-year wage deal with mineworkers October 31, 2016 Platinum miner Lonmin has agreed a new three-year deal with workers and unions over wages and working conditions. The agreement, which runs retrospectively from 1 July, "will provide employees with a realistic and competitive settlement and ensures the continued sustainability of Lonmin," the company said. Shares in the company lifted around one per cent following the announcement this lunchtime. [stockChart [...]
