Applegreen IPO: Irish owners net €20m in petrol station listing June 16, 2015 Two Irish entrepreneurs are in line for a €20m (£14.37m) windfall after floating their petrol forecourt business on the London stock exchange. Bob Etchingham and Joe Barrett, who founded Irish petrol station group Applegreen 23 years ago, will net €15m and €5m respectively from the listing, according to regulatory documents filed yesterday. Both [...]
Car manufacturer Renault offers RCI Banque bank account for UK savers June 8, 2015 Car manufacturer Renault’s finance arm is launching savings accounts in the UK for the first time, diversifying its funding base. Motor companies often run finance businesses to fund customers’ purchases of their cars, as well as related insurance products. But offering a wider range of services is not as common. RCI Banque, as the unit [...]
Derby Day Letter: A warm welcome to race-goers from London’s business paper June 5, 2015 Welcome to race day. Today’s special Saturday print edition celebrates one of the greatest and most exciting sporting events of the year. I’m delighted to continue our wonderful relationship with Epsom Downs and Investec again at this year’s event. Here at City A.M., we are truly passionate about the Investec Derby as well as horse-racing [...]
Confident Brits set for new car purchase record June 4, 2015 NEW CAR sales are being tipped by analysts to break their all time annual record this year after they increased for the 39th consecutive month in May. Brits registered 198,706 new cars last month, according to data from the Society for Motor Manufacturers and Traders (SMMT). The figure is up 2.4 per cent on the [...]
UK car sales slowed slightly in May June 4, 2015 Car sale growth slowed to 2.4 per cent in May, down from a rate of 5.1 per cent a month earlier, nevertheless economists said that this wasn't a cause for concern. Dealers registered 198,706 vehicles in May, marking 39 months of consecutive growth according to data released today by the Society of Motor Manufacturers and Traders (SMMT). [...]
Insurance customers may be ripped off by poor sales information May 11, 2015 Insurance firms received a slap on the wrist from the City watchdog yesterday for failing to provide proper information to customers on the costs of various payment options. The Financial Conduct Authority’s study found that insurance sellers do not always make it clear how much customers will pay if they pick various different payment options. For [...]
Busy week of earnings ahead – New York Report April 19, 2015 INVESTORS attempting to determine whether US equities will rebound from Friday’s selloff or continue to sink will look to a deluge of earnings this week for a clearer picture of the economy. Equities lost ground after industrials Honeywell International and General Electric took hits from the strong dollar, while concerns over new trading regulations in [...]
Best month of car sales this century April 8, 2015 Nearly half a million new cars rolled on to Britain’s roads in March, the best month for new car registrations since 1999. Consumers and firms registered 492,774 new cars in March, up six per cent on the same month last year, according to figures released yesterday by the Society of Motor Manufacturers and Traders (SMMT). [...]
Three reasons new car sales had their best month since 1999 April 8, 2015 Car dealerships across the country have been partying like it's 1999. They sold 492,774 new cars last month, which represents a six per cent increase from the same time last year, data released today by the Society of Motor Manufacturers has shown. It was the best March on record, as well as the best monthly performance since [...]
F1 prize money distribution unfair, says Max Mosley March 24, 2015 Former motor racing chief Max Mosley says he believes that Formula One’s £500m prize fund is unfair as it favours the top teams. F1’s prize money grew 6.1 per cent to a record £484m in 2014, yet this year many of the teams still need to boost their budgets with tens of millions of pounds [...]