Competition and Markets Authority sets out its plans to increase competition in the energy markets, sending Centrica and SSE share prices down July 7, 2015 Shares in energy providers dipped in early trading, after the Competition and Markets Authority (CMA) outlined a raft of measures aimed at increasing competition in the energy market. Shares in SSE fell 0.5 per cent to 1,566p while London-listed Centrica shares dropped 0.6 per cent to 265.9p, after a wide-ranging report attacked the UK's "Big [...]
Kainos heads for London market with value over £160m July 7, 2015 Kainos, a Belfast-based provider of IT services, has priced its IPO, giving it a value of more than £160m. Shares will be priced at 139p each. The offer is expected to raise £52.4m of gross proceeds, giving Kainos a valuation of roughly £161.3m. The company’s chief executive, Brendan Mooney, said in a statement: The task [...]
Asos shrugs off last year’s woes as sales soar 20 per cent July 7, 2015 Asos is surging ahead in the UK – but international growth and currency headwinds are still dampening the etailer's earnings. The figures: Retail sales were up an impressive 20 per cent for the four months to 30 June, with the UK up 27 per cent, while international sales were up 16 per cent. International sales [...]
Samsung’s profit declines for seventh consecutive quarter as flagship Galaxy S6 falls short of expectations July 7, 2015 The figures Operating profit missed forecasts at Korean electronics giant Samsung, expected to be 6.9tn won (£3.9bn) for the quarter to the end of June, it said in an earnings forecast today. That's down slightly from £4bn the same quarter last year, making it the seventh consecutive quarterly decline for the firm. Profits were still [...]
American Apparel warns it may need more funds as costs are cut July 6, 2015 American Apparel, the troubled clothing chain embroiled in a legal battle with its founder and former chief executive Dov Charney, announced plans yesterday to slash around $30m (£19m) of costs in a bid to reverse sharp losses and turn itself around. The company said it will close underperforming stores and would cut jobs in order [...]
Velocys share price sinks after boss Roy Lipski is suspended July 6, 2015 Roy Lipski, chief executive of UK gas-to-liquid technology company Velocys, has been suspended pending an investigation into allegations of serious misconduct. Lipski has been head of Velocys, which operates in the US and the UK, since 2008 and has raised over $215m (£138m) from institutional investors since 2006. Velocys, which is majority owned by Russian [...]
Landscape supplier Marshalls in first half sales jump as building booms July 6, 2015 Hard landscaping manufacturer Marshalls had an 11 per cent rise in revenue for the sixth months to 30 June, up to £199m, the firm said yesterday. Sales to the public sector and commercial market were up 15 per cent compared with 2014, and represented 64 per cent of Marshalls’ total sales. Sales in the domestic [...]
Perfect storm: Are US equities heading for a sell-off? July 6, 2015 US equities have been on a six-year bull run and the seemingly unstoppable S&P 500 has repeatedly hit new highs. It reached a record level of 2,408 on 10 April this year, giving investors who bought the market a return of 183 per cent over the last six years. The economy has continued to recover [...]
Amazon to launch new global shopping event “Prime Day” at midnight on 15 July to rival Black Friday July 6, 2015 Amazon is hoping to stir up the same shopping frenzy as Black Friday by launching of new global shopping day next week with hundreds of promotional deals. The online retail giant is turning 20 years old next week and as part of its celebrations it will launch Prime Day at midnight on 15 July, which [...]
Challenger bank Shawbrook appoints new chairman Iain Cornish to replace Sir George Mathewson July 6, 2015 Challenger bank Shawbrook has appointed former Yorkshire Building Society chief executive Iain Cornish as its new chairman. Cornish replaces former RBS boss Sir George Mathewson who will step down as chairman and as director with immediate effect. Cornish is a senior independent director of debt manager Arrow Global and wealth manager St James's Place. Read more: Challenger [...]
