Minouche Shafik, Andy Street and Jamie Murray Wells: These are the business grandees honoured in the Queen’s birthday honours list June 12, 2015 It’s the Queen’s birthday tomorrow – and what better way to kick off the celebrations than announce which of the nation’s great and good will don a hat and trip off to Buckingham Palace to receive an award. Among the 1,163 people named, there are 86 years between the oldest and youngest recipients [...]
Mansion House, Sainsbury and Tower Hamlets: Five charts summing up the week June 12, 2015 There were a series of huge announcements out of a black-tie dinner at Mansion House, struggling supermarkets Sainsbury said it was seeing the first signs of a revival, Labour won the Tower Hamlets mayoral election and the IMF walked out of Greek debt talks. Here are five charts summing up the week: UK will have [...]
Bonmarche share price soars as dividend increases on back of soaring profits June 12, 2015 Bonmarche's share price jumped more than five per cent as the value retailer revealed soaring pre-tax profits and solid revenue growth. The figures: The recently-listed retailer, which is aimed at older women, grew revenues 8.7 per cent to £178.6m, with like-for-likes up four per cent. Including online sales, which were up 36 per cent, like-for-likes [...]
Weak electricals market hurts sales at Argos June 11, 2015 SHARES in Home Retail Group rose three per cent yesterday after the Argos owner said it was upbeat on prospects for the second half of the year, despite a decline in sales. Like-for-like sales at Argos declined 3.9 per cent to £846m over the 13 weeks to the end of May, after weak demand for [...]
Best of the Brokers for 12 June 2015 June 11, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com CENTRICA Whitman Howard reiterated its “buy” rating on the utilities firm. The broker said that, following what it calls the “kitchen sinking” that accompanied the FY14 results, it believes that the intrinsic value in Centrica should begin to feed through as the dust [...]
Healthcare lifts Wall St shares – New York Report June 11, 2015 US STOCKS climbed yesterday as retail sales data lifted the outlook for consumer spending and as healthcare shares gained. The S&P 500 health care index gained 0.5 per cent and was among the day’s best-performing sectors, led by shares of Eli Lilly. Eli Lilly hit a 14-year high, closing up 4.1 per cent at $86.59, [...]
Rangers fans call for boycott as Mike Ashley’s Sports Direct wins EGM injunction June 11, 2015 A Rangers fans' group has called for a merchandise boycott after Mike Ashley won an injunction preventing the club's board from revealing confidential information about its retail deal with Sports Direct. Rangers shareholders will meet at Ibrox tomorrow after Ashley called an extraordinary general meeting to demand the repayment of a £5m loan. At the [...]
Mulberry share price rises as it shows signs of recovery despite profits plunging 74 per cent June 11, 2015 Mulberry is starting to see light at the end of the tunnel, despite posting a loss for its full-year trading this morning. The figures: The bag brand's pre-tax profits plummeted 74 per cent to £4.5m – but this was actually better than expectations. After tax the British firm made a loss of £1.4m, down [...]
Argos sales fall 3.9 pc in disappointing quarter for Home Retail Group June 11, 2015 Argos sales for the first quarter of 2015 were disappointing, with market declines leading to sales in electrical products falling. The figures Like-for-like sales at Argos declined 3.9 per cent to £846m over the 13 weeks to the end of May, with total sales falling 2.6 per cent on 2014, after "declines in key electrical and seasonal product [...]
Mansion House speech: George Osborne kicks starts £60bn sell-off with RBS stake June 10, 2015 Chancellor George Osborne last night kicked off a £60bn sale of state-owned financial assets, announcing he will sell a stake in bailed-out bank RBS in the coming months. The enormous wave of privatisations includes the sale of a remaining £11.5bn holding in Lloyds, while bidders including Goldman Sachs compete to buy £13bn of mortgage assets [...]