FTSE 100 and 250 quarterly review: Hikma, AA, Virgin Money Holdings and Imagination Technologies Group are in and Afren, Game Digital and Oxford Instruments are out March 4, 2015 The FTSE Group has released its quarterly review showing which companies have edged into the index and which have dropped out. Hikma Pharmaceuticals made its way into the FTSE 100 while Tullow Oil has fallen out of the top index. Hikma floated on the London Stock Exchange in 2005. Tullow will now join the FTSE [...]
Profits fall again at Abercrombie & Fitch March 4, 2015 The figures It turns out sex doesn't necessarily sell. Figures posted today show profits at the clothing retailer, known for its preppy style and beautiful, often scantily-clad staff, fell by nearly a third to $44m, or 63 cents per diluted share, in the three months to the end of January. Net sales were also down, [...]
Standard Chartered March 3, 2015 The figures The London-based, Asia-focused bank Revenue: $18.27bn (or 2.66 per cent decline)Adjusted net income: $4.06bn (or 16 per cent drop)Write-off: $3bn (largely on metals) "The first-half numbers came in better than expected — revenue was $9.26 billion and adjusted net income was $2.35 billion when dealers were anticipating $9.22 billion and $2.31 billion respectively." [...]
British Land buys up Surrey Quays plots in Canada Water for £135m March 2, 2015 Developer British Land said yesterday it has bought the last of the sites for its £2bn regeneration project in Canada Water – paying £135m for Surrey Quays Leisure Park from Aviva Investors. The FTSE 100 developer has quietly amassed over 50 acres of land in Canada Water over the last five years and is spending [...]
Argent and Related announce UK development joint venture March 2, 2015 BRITISH developer Argent and US- based real estate and investment firm Related have combined to form Argent Related. Both firms will exclusively conduct all future UK projects through the joint venture. One of those projects will be the south side of the new Brent Cross shopping centre in north west London. Argent and its joint [...]
FTSE 100 and 250 promotions and relegations: Tullow Oil, Afren set to slip after quarterly review March 2, 2015 Tullow Oil and Afren are likely to slip out of their respective FTSE indexes after this week's quarterly review. Analysis by Société Générale said Tullow Oil could fall out of the FTSE 100. The Irish firm recently reported a £1.3bn pre-tax loss, its first in 15 years, having revealed a $2.3bn (£1.5bn) write-off in January. [...]
Ex-Zeus and Threadneedle bosses re-emerge with advisory outfit March 1, 2015 TWO LEADING advisory figures from the small cap business world have joined forces to launch a new venture offering public affairs advice to junior market-listed firms. Tim Metcalfe, former co-chief executive of Zeus Capital, and Threadneedle Communications founder Graham Herring have put up cash to found City-based Investor Focus Communications (IFC), which will offer advice [...]
Bill Winters takes top Standard Chartered job: The City’s favourite adopted son takes on a risky challenge February 27, 2015 Not many investment bankers’ names are greeted with utterly unmitigated praise, particularly ones with major roles in the financial crisis. But once you ask former colleagues of Bill Winters about his qualities, it is hard to stop the flood of superlatives. “He is the best leader I have ever met. He saved the bank in [...]
Sisters launch UK’s first bespoke vaping bar in London’s West End February 25, 2015 Things have come a long way since the cigarette cafe culture of Soho and Paris. Two sisters, both ex-lawyers, have set-up the UK's first high-end vaping bar. The Avant Garde Bespoke Vaping bar was launched in London's West End by Sadia Tanvir-Navaab and Almas Tanvir-Khan to cater to Britain's fast growing number of vapers. The [...]
Town Centre Securities parks itself in London February 24, 2015 LEEDS-based property investor Town Centre Securities has snapped up a listed building on Duke Street in the West End for £3.2m to use as an office for its fast-growing car park business. CitiPark, which owns more than 5,000 parking spaces, is expanding its presence in the south and bought two car parks in London in [...]