National Grid warns government over handing blackout responsibilities to energy regulator Ofgem March 3, 2016 National Grid has warned that handing over its role in preventing blackouts to energy regulator Ofgem would only serve to bring further uncertainty to the market. The department of energy and climate change is looking at options for improving energy security, including greater independence for the system operator – which some believe means giving blackout [...]
BHS appoints KPMG as it pursues CVA in bid to end deadlock with landlords over unsustainable rents March 3, 2016 Struggling department store chain BHS is set to enter into a company voluntary arrangement (CVA) in an effort to deal with "unsustainable" rents, which could see the group, previously owned by retail mogul Sir Philip Green, disposing of a number of stores. A CVA allows insolvent companies to pay creditors over a fixed period, while continuing [...]
England No8 Billy Vunipola cites new-found carefree attitude as big factor in his swashbuckling form March 3, 2016 England powerhouse Billy Vunipola believes adopting a more carefree attitude to the game has helped him scale heights which have seen him touted as the world’s best No8. Vunipola has been in sparkling form during England’s three Six Nations victories which have propelled the Red Rose to within sight of a first championship title since [...]
FTSE 100 index closes down on Inmarsat and Whitbread results March 3, 2016 The FTSE 100 index closed lower today as Inmarsat and Costa Coffee parent Whitbread dropped. The UK's blue-chip index fell 0.27 per cent to 6,130 points. "European markets pulled back from weekly highs as service sector data came in mixed, healthcare stocks dropped and traders pulled positions ahead of Friday’s US jobs report," said CMC Markets analyst Jasper Lawler. [...]
Intercontinental Exchange (ICE) reportedly considering selling Borsa Italiana and LCH.Clearnet as part of potential bid for London Stock Exchange Group March 3, 2016 A possible bid by the Intercontinental Exchange (ICE) for the London Stock Exchange Group (LSE) is reportedly likely to include selling off the London exchange's Italian business and French clearing arm. Shares in the LSE soared to a record high on Tuesday, after the New York Stock Exchange (NYSE) owner ICE confirmed it is considering bidding [...]
McCarthy & Stone shares fall despite half-year revenue growth, with company “uniquely placed” to serve growing over-65s population March 3, 2016 McCarthy & Stone shares fell today despite the retirement homebuilder reporting a 32 per cent growth in revenue, suggesting investors are profit taking after the shares' strong performance since the IPO in November. The figures The trading update reported revenue of £250m in the half-year ending 29 February. This was up year on year from £189m. [...]
Barnes & Noble sales drop in third quarter ended January 2016 as consumers flock away from the Nook March 3, 2016 Barnes & Noble today revealed that its sales have dipped over for the last three months, as the brand's ereader fails to find favour with consumers. Sales for the bookseller's third quarter ending January 2016 were $1.4bn (£1bn), down 1.8 per cent compared with $1.5bn the year before. Sales of the company's ereader, the Nook, performed particularly poorly, [...]
Mastercard plots £1bn bid for Vocalink after banks told by regulator to give up stakes in payments handler March 3, 2016 Mastercard is plotting a bid for bank-owned payments handler Vocalink, it has been reported. Sky News said the credit card issuer has approached the board of Vocalink over a deal that could be worth up to £1bn. The approach comes shortly after the new payments industry regulator said Vocalink’s current ownership structure is "hampering competition and [...]
Urban planner Sir Terry Farrell slams plans for transport hub at Old Oak Common as “London’s worst cock-up in 50 years” March 3, 2016 One of the capital's largest-ever regeneration schemes could end up being its "worst cock-up in years", one of London's best-known urban planners has warned. In an interview with the Evening Standard, Sir Terry Farrell said the £10bn Old Oak Common scheme has been the victim of in-fighting by politicians. The 100-acre site in North West London is set to become a [...]
Travis Perkins’ share price pushed higher despite a disappointing summer and an impairment charge over its plumbing business March 3, 2016 Building material supplier Travis Perkins has posted a 7.6 per cent rise in core profits and forecast a better year than last in 2016, after warning earnings would be at the lower end of expectations in October. Pre-tax profits in 2015 were down 30 per cent to £224m, negatively impacted by a £141m impairment charge to its plumbing business due to “challenging market conditions”. [...]
