TSB first half profits down 20 per cent as it reaches final stage of Sabadell takeover July 23, 2015 TSB has revealed a double-digit drop in profits for the first half as it enters the final stage of its takeover by Spanish group Banco Sabadell. The figures: The challenger bank said pre-tax profits were down 20.1 per cent to £44m, while statutory profits fell even further – down 44 per cent to £23.2m in [...]
DFS Group sets sights on Europe as its top team prepare for record year July 22, 2015 Upholstered furniture giants DFS Group said it is looking to expand to Europe and beyond after a strong year of sales puts the group on target for a record-breaking year. DFS Group, the sofa sellers that bought rival Dwell in 2013, said it expects this year to be record-breaking for the company, but bosses added [...]
EDF told to repay £1bn tax break to France July 22, 2015 French electricity giant EDF was yesterday ordered by the EU to repay the French state almost €1.4bn (£1bn) in back taxes, in a case dating from 1997. And in a thinly veiled criticism of the French government the European Commission said Electricite de France had been given “tax breaks incompatible with EU rules on state [...]
Gottex dusts itself down after rocky patch to signal fresh start July 22, 2015 Gottex, the hedge fund company headed by investor Arpad “Arki” Busson, benefitted from strong performance in Asian funds last quarter, helping overall assets under management tick up. Busson, who once dated Hollywood star Uma Thurman, took over as executive chairman of last month following a turbulent period for the company, which incurred a loss last year. [...]
Make Marston’s a large one as food and drink sales progress July 22, 2015 Brewers and pub group Marston’s yesterday announced it had made “profitable progress” in line with expectations for the 41-week period to 18 July. “In Destination and Premium [brand units], like-for-like sales for the 41-week period were 1.7 per cent ahead of last year, including like-for-like food sales growth of 1.6 per cent and like-for-like wet sales [...]
BHP Billiton beats expectations but disappoints with guidance July 22, 2015 Mining giant BHP Billiton smashed through iron ore production guidance in the year ended 30 June, posting output of 233m tonnes against a projected 230m tonnes. Petroleum production climbed by four per cent in the year, up to 256m barrels of oil equivalent, and metallurgical coal output was up 13 per cent to 43m tonnes. [...]
Danske ups its full-year forecast but prepares Belfast bank for sale July 22, 2015 Danske Bank said yesterday that it had raised its full-year forecast after high customer activity and improving macroeconomic conditions helped to drive an increase in first-half profits. Denmark’s largest lender reported in its half-yearly statement that net profit had jumped to 9.4bn Danish crowns (£879m), up 36 per cent from the same period in 2014. [...]
American Express share price slides as strong dollar weighs heavily on sales July 22, 2015 The figures American Express posted earnings that will put a smile on shareholders’ faces, but the financial services company’s sales fell short of forecasts. Revenue fell even further than expected, down to $8.28bn, against expectations of $8.45bn for the quarter. Earnings per share, however came in at $1.42, easily beating expectations of $1.33. AmEx shares [...]
US markets fall, dragged by tech giants Apple, Facebook, Twitter share price sliding July 22, 2015 US markets were weighed down by plunging tech stocks after disappointing results from several giants, with Apple leading the fall after iPhone sales missed forecasts. Wall Street was weighed down by a Silicon Valley that was decidedly glum today, with Dow Jones closing 1 per cent down and Nasdaq 0.5 per cent. After yesterday's earnings [...]
Eurotunnel wants €10m compensation from British and French governments as security costs rise to €13m due to migrant crisis July 22, 2015 The operator of Channel Tunnel, Eurotunnel, wants €9.7m (£6.8m) in compensation from British and French authorities, as it has racked up a €13m security bill due to damage caused by the ongoing migrant crisis. The escalating number of migrants coming from the Mediterranean, looking to enter the UK through Calais, has sent security costs up [...]
