BHS administrators reassure staff over pay but say search for buyer still ongoing April 28, 2016 BHS administrators have sought to reassure staff that they will continued to be paid as they seek a buyer for the ailing chain. Duff & Phelps joint administrator Philip Duffy has issued a statement confirming that it has received "a number" of expressions of interest, understood to be more than 50, and that it continues to seek [...]
Before the bell: What you need to know before the US market open April 28, 2016 The futures market is pointing to a weaker open on Wall Street after the Bank of Japan decided not to issue further stimulus measures, taking the market by surprise. Earlier the Dow Jones Industrial Average and S&P 500 futures were down 0.8 per cent, while Nasdaq futures were 0.6 per cent lower. The Bank of Japan left its [...]
Taylor Wimpey says it’s “well equipped” to handle Brexit uncertainty as order book fills up April 28, 2016 The boss of one the UK's largest housebuilders, Taylor Wimpey, has shrugged off concerns surrounding the EU referendum, claiming that it is "well equipped" to react to any changes in the market and that uncertainty in the run-up to the vote has had no effect on trading. Speaking at the company's annual general meeting this morning, [...]
Buyers really want dividends, apparently, with shares in some major players down more than five per cent April 28, 2016 Shares which are now trading ex-dividend suffered badly this morning, with many falling more than five per cent in early trading. FTSE 100 shares trading ex-dividend – which refers to the point when the dividend payout belongs to the shares seller rather than the buyer – in ITV were trading down 5.9 per cent at 219.9p [...]
Discount high street chain launched by Christo Wiese and ex-Asda boss Andy Bond plots more store openings April 28, 2016 Pep&Co, a discount variety chain launched last year by former Asda boss Andy Bond and Christo Wiese, the South African retail magnate, has announced plans to roll-out more stores this autumn after opening 50 sites in just over 50 days last summer. Wiese already snapped up discount chain New Look through his investment vehicle Brait in 2014. However, [...]
LK Bennett sales boosted by online expansion but closure of some weaker UK stores dents turnover April 28, 2016 LK Bennett, the fashion retailer that counts the Duchess of Cambridge among its fans, said like-for-like sales grew by five per cent last year after winning over new shoppers through its growing portfolio of stores overseas. However, group turnover slipped as the high street brand shut down some of its loss making UK stores, falling by 1.8 [...]
Top McCarthy & Stone investors sell their shares in £200m placing April 27, 2016 Investors in McCarthy & Stone, the retirement housebuilder, sold 85m shares in a share placing worth around £200m. Funds managed by Anchorage Capital Group, TPG Special Situations Partners, Goldman Sachs European Special Situations Group and Strategic Value Partners, LLC and certain other shareholders have sold shares representing 15.8 per cent of McCarthy & Stone's share capital. [...]
Five questions and answers about Libya’s potentially “illegal” oil shipment April 27, 2016 A ship loaded with 650,000 barrels of potentially illegal oil from war-torn Libya is currently sailing across the ocean. It left a port in what was once one of Africa's biggest oil producers late yesterday. The move has sparked international outcry, with various actors denouncing it as illegal and one country refusing to let the tanker enter [...]
Vital Ingredient gets a £8m health kick from Lloyds Banking Group’s private equity arm April 27, 2016 LDC, the private equity arm of Lloyds Banking Group, has backed the management buyout of salad chain Vital Ingredient. The company will invest £8m into the business while Santander will provide a further £4m funding to help the business double in size from 17 to 35 outlets over the next three years. Read More: LDC buys stake [...]
US oil has edged over $45 per barrel again today as oil prices hit their highest since November April 27, 2016 A decline in US crude oil stockpiles has pushed global oil prices to their highest since November last year. Brent rose $1.33 a barrel to $47.05 in early afternoon trading in London, while West Texas Intermediate reached highs of $45.18 per barrel earlier in the day. Yesterday it was reported US supplies fell by 1.07m barrels last week, the [...]
