Nestle share price falls after disappointing sales slashing growth forecast October 16, 2015 Nestle has cut its growth forecast for 2015 as “exceptional events” kept the company from meeting its sales targets. The figures Organic sales growth was up 4.2 per cent year-on-year for the first nine months, against forecasts of 4.7 per cent. The company reported sales of £44bn for the period, weighed down 6.9 per cent [...]
UK house prices: London rents actually fell in the last quarter (but they are still higher than this time last year), according to HomeLet October 16, 2015 Good news for London's renters; bad news for the capital's buy-to-let investors: the average rent of a property in Greater London has fallen for the first time since February. Average rents in the wider region fell by 0.2 per cent in the three months to September, according to HomeLet. That doesn't mean it's cheap: the average [...]
Volkswagen emissions scandal: New boss Matthais Mueller says VW can “shine again” October 15, 2015 The new boss of Volkswagen Matthais Mueller has said the car giant can "shine again" in the next two or three years. Speaking to managers, Mueller hailed a new culture for the company, which he said needed to become more decentralised, with brands and regions becoming more independent. Read more: German investor sentiment hit by [...]
A third of people visit shopping centres to eat rather than shop, says CBRE October 15, 2015 You would think that most people’s immediate instinct when entering a shopping centre would be to grab and run – before it all gets too much. Not so, according to new research from CBRE, which reveals that a third of all visitors to shopping centres across Europe, South Africa and the Middle East will visit [...]
Singaporean wealth fund GIC backs property revival in UK regions October 15, 2015 Singaporean sovereign wealth fund GIC has thrown its weight behind a private equity firm that invests in the UK’s regional property market. Maya Capital said it has secured a £90m loan from GIC to help fund acquisitions in areas outside London and the M25 that have enjoyed a resurgence in activity thanks to the improvement economy [...]
Repsol share price tumbles as Spanish firm reveals plans for £4.6bn asset sale October 15, 2015 Repsol's plan to sell €6.2bn (£4.6bn) of assets to reduce its unwieldy debt pile and keep investors happy was met with scepticism by the industry today, with questions over the viability of the oil giant's strategy. The Spanish firm's shares saw a turbulent day of trading, plunging over four per cent in the afternoon after a [...]
Battle of the banks: did Bank of America, JP Morgan, Citi or Goldman Sachs do better? October 15, 2015 Goldman Sachs, Citigroup and Blackstone, the world's largest alternative asset manager, were the latest Wall Street giants to report their earnings had been hit as the markets have taken a tumble. Blackstone made a first loss for the first time since 2011. While Goldman saw trading revenue fall by a third. "We experienced lower levels [...]
Canada launches plan to build 3,700 new homes October 15, 2015 Canada Corporation has fired the starting gun on its biggest housebuilding spree in 40 years after committing to building 3,700 new homes by 2025. The City has traditionally been opposed to promoting residential development within its boundaries as it protects its status as the capital’s financial centre. It is also one of the [...]
Argos signs drop-off and delivery deal with eBay October 15, 2015 Argos has joined forces with eBay to allow sellers on the online marketplace to drop off their parcels at the retailer’s stores and have them delivered within 48 hours. By the end of the year, eBay’s 200,000 sellers will be able to drop off sold products at 150 stores across the country, with more sites [...]
German government orders Volkswagen to recall 2.5 million cars affected by emissions scandal October 15, 2015 Germany's transport ministry has ordered Volkswagen to recall 2.4m vehicles with "defeat devices" over the next year, raising questions over how many cars will be recalled in the UK. The car giant said around 1.2m cars in the UK have been affected by the scandal, adding that customers will be contacted about bringing their vehicles in to be refitted. Some [...]
