HSBC share price slides as it posts surprise dip in profits February 22, 2016 Admittedly, it hasn't been the easiest year for HSBC – but analysts were nonetheless taken by surprise when it posted a 1.2 per cent decline in net profit for 2015. The figures Net profits fell to $13.52bn (£9.52bn) in the year to the end of December, down 1.2 per cent from $13.69bn last year. Meanwhile, pre-tax profits rose one per cent to $18.9bn, from $18.7bn last year – [...]
Bumper year for Bovis Homes as house price growth boosts profits by 20 per cent February 22, 2016 Housebuilder Bovis Homes said house price growth helped it deliver bumper profits in 2015. The figures Revenues in the year to the end of December rose 17 per cent to £946.5m, from £809.4m last year – while pre-tax profits rose 20 per cent to £160.1m, from £133.5m. It said it had been bossed by a strong increase in average sales price, which grew seven per [...]
HSBC’s share price falls after revealing it’s being probed by SEC over so-called princeling hiring practices in Asia February 22, 2016 HSBC is being investigated by the US Securities and Exchange Commission (SEC) over nepotistic hiring practices, it revealed this morning. HSBC's share price was down 3.6 per cent in early trading. The bank, which today posted worse-than-expected figures for 2015, admitted it was one of many financial institutions being probed by the US watchdog over "hiring [...]
Primark parent Associated British Foods says half year figures will be better than expected as currency headaches lift February 22, 2016 Primark parent company Associated British Foods has said its half year results should come in slightly better than expected, as currency woes have partially lifted. The group said it expected "some progress" in adjusted operating profit for the six months to 27 February, but said adjusted earnings per share would come in slightly lower – a [...]
EU referendum: Brexit will affect business, sterling and interest rates – bond and equity investors must diversify now February 22, 2016 The date of the EU referendum has been announced and battle lines have been drawn over who is in the Remain camp and who is for Brexit. In fact, many MPs have made their stance clear – so now it's just down to the voting public to decide come 23 June. Commentators have been quick [...]
Stella McCartney, Huge Boss and Yoox Net-a-Porter in talks to move to Stanhope and Mitsui’s White City Place February 22, 2016 Three leading fashion brands are in talks to move their London headquarters to new offices being developed inside the former BBC Media Village in White City, City PM understands. Designers Stella McCartney, Hugo Boss and online fashion website Yoox Net-a-Porter have separately approached developers Stanhope and Mitsui about taking office space inside White City Place. [...]
West End residential sales jump despite stamp duty fears, says CBRE February 22, 2016 CBRE said it has seen no let-up in demand for homes in London’s West End despite concerns over stamp duty reforms and that overseas demand may be slowing. A third of homes (33 per cent) sold by CBRE in the fourth quarter reached prices of more than £2,250 per square feet, which was 23 per [...]
These are the best UK brands for 2016: British Airways tops list with Rolex, Dyson and Google behind February 22, 2016 An annual survey of brands has named the top 20 consumer Superbrands, with airline British Airways retaining the top stop and BBC falling out of the top 20 for the first time. British Airways fended off nearly 1,600 brands to claim the top spot for the third year, while Lego, Rolex and Dyson mounted a [...]
Ladbrokes and William Hill set to reveal the impact of new taxes on gambling firms February 21, 2016 Ladbrokes and William Hill are set to disclose the impact of new taxes targeted at the gambling industry this week, when Britain’s biggest bookies announce full year results. Ladbrokes is forecast to post a dramatic fall in pre-tax profit, from £112m to £44m, according to analysts at Deutsche Bank. The dismal numbers are being linked [...]
Playtech to go on £800m shopping spree as it eyes up Pokerstars owner Amaya and OpenBet February 21, 2016 Gambling software powerhouse Playtech is reportedly planning to use funds of up to £800m to launch a string of new acquisitions. Playtech, founded by Israeli billionaire Teddy Sagi in 1999, is thought to be eyeing up the UK-based software developer OpenBet, owned by Vitruvian Partners, in a £250m deal. However, as the firm has contracts with [...]
