Vodafone and BT Group share prices tumble as European Commission blocks merger between TeliaSonera and Telenor September 11, 2015 British telecommunications dragged the FTSE 100 index lower on Friday, following the news of a blocked merger. Vodafone and BT Group's share prices both tumbled around 1.6 per cent as the European Union’s antitrust authority moved to block a deal between Scandinavian telecoms companies TeliaSonera and Telenor. The merger would have created Denmark’s biggest provider, [...]
Andrew Tyrie warns over bank surcharge ahead of Treasury meeting September 10, 2015 The chairman of an influential parliamentary committee has once again slammed the bank surcharge ahead of a meeting between challenger banks and the Treasury tomorrow. "Millions of consumers and small businesses have been getting a poor deal for decades because of inadequate competition and choice in banking," Andrew Tyrie, who chairs the Treasury Select Committee, said today. [...]
Brewer Greene King raises glass to solid sales September 9, 2015 PUB OPERATOR and brewer Greene King said yesterday that it recorded solid sales growth in the first 18 weeks of the year. Like-for-like sales in Greene King Retail grew by 1.3 per cent with growth of 1.9 per cent in the last 10 weeks. The company said when excluding the continued impact of stricter drink-driving [...]
China’s greatest crisis since the 1980s promises more dark days ahead August 27, 2015 With more than $5 trillion wiped off global stock markets since 11 August, “Black Monday” this week saw declines of historic proportions, driven by concerns over the Chinese economy. The People’s Bank of China (PBOC) has subsequently cut interest rates and eased lending rules for banks in a much-anticipated move to stem the market [...]
City Moves for 27 August 2015 | Who’s switching jobs August 26, 2015 Nomura Asset Management Andreas Koerner has been appointed head of marketing and client relations for Europe, the Middle East and Africa. He has worked for Nomura Asset Management Germany, where he is chief executive, for almost 12 years. ANV Underwriters The specialty insurance group has appointed Christina Lippert as underwriting manager, professional lines, commercial, Europe. [...]
Poundland’s share price soars as discount retailer gets greenlight for 99p Stores takeover August 25, 2015 Poundland's acquisition of (more) budget rival 99p Stores has been given the provisional go-ahead by the competition watchdog, sending the listed company's share price soaring. The Competition and Markets Authority this morning said the merger “may not be expected to result in a substantial lessening of competition”. It said: "Along with Poundworld, [...]
Bowled over: Competition regulator topples merger or Original Bowling Company and Bowlplex August 17, 2015 Is the Competition and Markets Authority (CMA) about to force a split? The regulator has toppled plans for a merger between The Original Bowling Company and Bowlplex over concerns it would lead to less competition in the sector. Well. We're bowled over… The CMA said it had looked at six local areas where the pair [...]
London mayoral hopeful Andrew Boff’s radical plan for housing and transport August 16, 2015 London Assembly member Andrew Boff may be trailing in the polls behind his fellow Tory mayoral hopefuls. However, sitting down with City A.M. last week in his office in City Hall, the leader of the Greater London Authority Conservatives said he is confident he can win the open primary to be Tory candidate. “Of course [...]
As China’s yuan devaluation shocks markets, should the world fear a global currency war? August 13, 2015 Gabriel Stein is director of asset management services at Oxford Economics, says Yes Not because China wants to start one, but because the decision is not China’s. Ostensibly, the changes implemented over the past three days aim to give market forces greater influence over the currency. That is good news. But by announcing, on three [...]
Trade and status: China weakens yuan to gain advantage August 12, 2015 China plans to top the global hierarchy with its surprise move to devalue its currency China shocked the world yesterday when it devalued the yuan by nearly 2 per cent against the dollar. The surprise move brings its currency to a three-year low against the greenback and should help revive exports. The news [...]