Hargreaves Lansdown share price falls as costs mount – although pensions savers aren’t buying Ferraris May 20, 2015 When the chancellor first announced plans to lift rules forcing pensions savers to buy annuities in 2014, much was made of the fact a generation of pensioners could go and splurge their pension pots on Ferraris. But two months after savers were given access to their pensions, Hargreaves Lansdown has said people are being eminently [...]
Burberry share price falls as the group lowers its outlook for 2016 May 20, 2015 Shares in Burberry fell more than 5.4 per cent this morning after the iconic British brand lowered its guidance for the full year, saying wholesale and retail profit for 2016 would come in around £40m below expectations. The figures Underlying revenues at luxury brand Burberry rose 11 per cent to £2.5bn in the full year to [...]
SSE share price edges down as it announces plans to close Ferrybridge power station May 20, 2015 The figures Being an energy giant isn't always easy these days – but results posted today showed profits before tax at SSE rose 24 per cent in the year to the end of March to £735.2m, from £592.5m the year before, although operating profits stayed flat, at £1.88bn. But the government's push to persuade energy customers to shop around more [...]
Marks & Spencer’s share price rises after it posts first profit increase in four years May 20, 2015 Marks & Spencer has beaten expectations as its returns to profit growth – but its full year results show a mixed performance across the group. Nevertheless investors were impressed with shares rising 1.4 per cent to 593p in mid-morning trade. [stockChart code="MKS" date="2015-05-20"] The figures Marks & Spencer has beaten expectations on its underlying pre-tax [...]
Burberry’s Christopher Bailey proves elusive again – Editor’s Letter May 19, 2015 When the fashion retailer Burberry unveils its full-year results today, it will be unsurprising if its chief executive and chief creative officer Chris Bailey keeps a low media profile, leaving the task of answering reporters’ questions to his finance director, Carol Fairweather. Bailey himself rarely makes an appearance in front of the media to [...]
Moneysupermarket share price dips as Simon Nixon cuts stake in website and rakes in £56m May 19, 2015 Entrepreneur Simon Nixon yesterday sold off a 3.7 per cent stake in Moneysupermarket.com, the price comparison website he set up in 1999, making him £56m. The sale of 20m shares, announced yesterday by Credit Suisse, cuts Nixon’s stake in the company down to 12.8 per cent. At 280p per share, the sale netted him [...]
HSBC to charge banks for euro deposits in response to low interest rates May 19, 2015 HSBC will soon be charging other banks that keep deposits with them, in response to the low-interest rate environment. Deposits of euros, Swiss Francs, Danish crowns and Swedish krona will be charged by Europe’s largest bank from August. But it will only affect banks, not other businesses or individuals. “HSBC charges banks for deposits they [...]
Rightmove moves to add school Ofsted ratings and catchment areas to all property listings May 19, 2015 Nine in ten parents in London say they consider the quality of local state schools when deciding where to move, according to a new survey from property website Rightmove. Eighty-four per cent of parents surveyed told Rightmove they would consider moving to be near a good school. More than a third of Londoners without [...]
Sainsbury’s Bank to partner with Western Union on money transfer service May 19, 2015 Sainsbury’s Bank has joined forces with Western Union to offer money transfer services in 170 of the food retailer’s stores across the UK. The supermarket chain has been ramping up its presence in financial services since taking full control of its banking arm last year, in a bid to boost profits and expand its [...]
Aveva reveals £10m dent in profit for 2015 May 19, 2015 SHARES in engineering group Aveva reversed their upward trajectory yesterday, after reporting a 12 per cent drop in revenue in the year to 31 March. Sales fell from £237.3m in the 2014 financial year to £208.7m. Meanwhile, pre-tax profit plunged by 20 per cent from £69m to £58m. The company said the results reflect a [...]