Parents and grandparents spent £18bn supporting their adult children last year, with almost half of those in London saying their kids are relying on their contributions March 2, 2016 Parents who were secretly hoping the financial burden would ease once their little darlings reached 18 are probably feeling a little hard done by, as UK parents and grandparents shelled out £18bn on their adult children and grandchildren last year. According to research released today by the Post Office Money, nearly one in five (18 per [...]
Virgin Money’s share price soars as challenger bank confirms dividend after profits jump 53 pc March 2, 2016 Virgin Money's share price leaped eight per cent this morning after posting strong figures for its first full year as a public company, with profits soaring as customer numbers climb. The figures The challenger bank said underlying profit before tax was up 53 per cent to £160.3m for the calendar year, while net margins rose to 165 [...]
Facebook condemns “extreme and disproportionate” arrest of executive in Brazil over accusations WhatsApp failed to cooperate with drug trafficking investigation March 1, 2016 Facebook's Latin America vice president has been arrested in Brazil in connection with a case involving WhatsApp. Diego Dzodan was detained after the company failed to cooperate with judicial orders on an investigation into drug trafficking in Sergipe state. Police said he remained in custody for questioning in Sao Paulo state. Read more: Brazil is banning WhatsApp for [...]
Office boom fuels rise in profits at workspace provider Regus March 1, 2016 Regus shares climbed higher yesterday after the workspace provider posted a 67 per cent jump in annual profits and hiked its dividend. The company, which has over 2,700 centres across across 977 towns and cities worldwide, reported pre-tax profits of £145.7m in 2015, on sales up 15.9 per cent to £1.9bn. Underlying earnings per share rose by 51 per [...]
Leading private bank: Don’t panic about Brexit despite warnings over the economy, the pound, and a leap into uncertainty March 1, 2016 A top private bank has told investors not to panic over the possibility of Britain leaving the European Union, despite warnings from UBS that sterling could fall to parity with the euro if UK voters decide to quit the EU. In a special report, Kleinwort Benson said while a so-called Brexit “presents a lot of uncertainty”, [...]
Valeant Pharmaceuticals share price slumps by over 18 per cent as company reveals it’s under investigation by the SEC February 29, 2016 Shares in pharma firm Valeant have dropped by over 18 per cent in after hours trading after a Securities and Exchange Commission (SEC) investigation into the company was revealed. The SEC probe is separate from an existing investigation into a company purchased by Valeant last year, Salix Pharmaceuticals, according to a Bloomberg report. “Valeant confirms [...]
Yahoo share price rises three per cent as internet group files 2015 results February 29, 2016 Shares in online firm Yahoo have risen by over three per cent, after the company revealed more details about plans to cut around 15 per cent of its workforce. At the time, chief executive Marissa Mayer said the company was embarking on "a strategic plan that we strongly believe will enable us to accelerate Yahoo's [...]
Hatton Garden: Police pin man to ground after reports of threatening people with a knife February 29, 2016 London's iconic jewellery district Hatton Garden was home to more scenes of police cars and vans, after officers had to break up a knife row this afternoon. Two men have been arrested – the first on suspicion of being in possession of an offensive weapon and affray, the second on suspicion of affray and assaulting a [...]
Chinese property tycoon Ren Zhiqiang’s microblogging accounts blocked after Xi criticism February 28, 2016 Chinese property tycoon Ren Zhiqiang has had his microblogging accounts shut down by the Beijing authorities after he criticised President Xi Jinping. The Cyberspace Administration of China said Ren had published "illegal messages that had a bad impact". "The cyberspace is not outside the laws, nobody is allowed to spread illegal information using the internet," Jiang Jun, [...]
Flats with no windows are now on sale in Brixton for £465,000 February 26, 2016 Flats with no windows have gone on sale in Brixton for £465,000 as part of a development that estate agents have described as a “sanctuary of calm”. The “luxury development” is an office conversion on Acre Lane, near Brixton tube station. The property developers Build Consultants have been working on the block of one and two-bed [...]