Privatised Royal Mail floats at 330p as any wanting more than £10,000 of stock get turned away October 10, 2013 Allocation details for the biggest privatisation since the 1980s have been released. Royal Mail shares have sold at 330p. All members of the public who applied will get £750 of shares, but anyone who applied for over £10,000 will get nothing. 67 per cent of shares will go to institutions (as opposed to the 70 [...]
OBR blames cuts for errors October 9, 2013 THE UK’s fiscal watchdog, the Office for Budget Responsibility (OBR), yesterday said government spending cuts are not the most likely explanation for low growth. The OBR addressed errors in its overly optimistic previous forecasts yesterday, suggesting that external inflation shocks, weak export demand and tight credit conditions were the more likely culprits for the UK’s [...]
A beginners’ guide to sitting pretty October 8, 2013 Spending hours on end at your desk staring at a screen is notoriously bad for your health. Leading nutritionist Jess Scott gives her top food tips for staying healthy and energetic while stuck in the office. STASH Keep a healthy stash of mixed nuts and seeds at your desk – the key to healthy snacking [...]
Osborne moves aides into top ministerial jobs October 7, 2013 GEORGE Osborne last night emerged as the main winner of a government reshuffle that barely touched cabinet positions but shuffled dozens of second-tier jobs. Allies of the chancellor were yesterday placed in key roles across ministries with an economic role – and also within the whips office – tightening Osborne’s control on the government’s agenda. Sajid Javid, [...]
Wolseley steps up hunt for deals as it returns £300m to investors October 1, 2013 PLUMBERS’ merchant Wolseley confirmed plans yesterday to return £300m to shareholders after posting a strong rise in profits. Chief financial officer John Martin said that a lack of attractive acquisition opportunities last year meant that it will return £300m to investors in a special dividend. He said it will continue to seek out bolt-on acquisitions [...]
Inside Track: More than one elephant in the Royal Mail sorting room September 25, 2013 IT’S NOT hard to identify the biggest of the elephantine threats to Royal Mail’s imminent stock market listing, which heralds the most contentious privatisation since the 1980s. With unions poised to ballot members over the prospect of industrial action within weeks, the prospect of a multi-day walkout at the precise time that the company’s shares [...]
Carnival sinks on profit drop September 24, 2013 CRUISE operator Carnival yesterday warned it could report an adjusted loss for the current quarter, after posting a 30 per cent fall in third-quarter profit due to a series of mishaps on its ships that left passengers stranded at sea for days. Net ticket yields fell 4.6 per cent in the third quarter while yields [...]
Dividends will be key for Royal Mail September 24, 2013 Private investors can choose from a wide variety of stockbrokers if they fancy investing in Royal Mail shares IN THE biggest privatisation since the 1980s, the government plans to sell a majority stake in Royal Mail. Analysts are divided over the attractiveness of the stock – with key details such as share price yet to [...]
What the other papers say this morning – 24 September 2013 September 23, 2013 FINANCIAL TIMES Bribery claims hit Glaxo sales in China Sales of GlaxoSmithKline’s medicines in China are thought to have dropped 30 per cent since officials accused the UK firm of corruption, according to Citi analysts’ provisional estimates. Axa eyes Diana ingredient maker sale Axa Private Equity is in talks with JP Morgan to finalise a [...]
Why Germany’s boring elections should still spook David Cameron September 19, 2013 FOR A vote touted as decisive to the future of the Eurozone, the German election campaign – which reaches its climax on Sunday – has been lacklustre. With barely any talk of Europe, it’s been defined by domestic issues – from data protection, to rent control and taxation. We Germans love a good debate on [...]