Glencore share price drops to its lowest point since listing on worsening commodities rout September 25, 2015 Glencore shares have fallen to their lowest point since listing, dropping below its 100p per share floor for a second time this week, as a global rout continues to pummel the embattled commodities giant. After a somewhat buoyant opening, Glencore has tumbled anew, falling 2.3 per cent over the course of the morning to trade [...]
Drax share price up as it withdraws from £1bn renewable energy project due to “critical reversals” in government support September 25, 2015 Drax's share price climbed this morning after the energy giant abandoned a £1bn carbon capture project because of the government's policy u-turn on renewable energy. Drax had committed to storing carbon dioxide next to its plant in North Yorkshie – the biggest coal-fired power station in the UK – but today said it was halting [...]
Volkswagen emissions scandal: VW now UK’s lowest ranked car brand, says poll September 25, 2015 Volkswagen has been in the spotlight over the last week, and for reasons it would have preferred to avoid. After it emerged that VW had rigged its cars with a device that could cheat an emissions test, the company announced it could have to recall 11m cars, set aside €6.5bn and Martin Winterkorn, the former [...]
Volkswagen emissions scandal: VW to name Porsche’s Matthias Muller new chief executive after Martin Winterkorn’s exit – reports September 25, 2015 Volkswagen is to announce its new boss today, after former chief executive Martin Winterkorn stepped down on Wednesday amid the ongoing emissions scandal. The favourite to replace him is Porsche boss Mattias Muller, according to several reports. Reacting quickly to Winterkorn's departure on Wednesday, the car maker is expected to make an announcement about the [...]
Catalonian independence proxy vote weighs on Spanish bonds September 25, 2015 Regional elections, which have turned into a de-facto independence vote for the breakaway region of Catalonia, have hit Spanish bonds. The pro-independence coalition is on track to win in Catalonia, albeit perhaps without a majority, in the 27 September vote. Catalan president Artur Mas has vowed to kick off the secessionist measure if he holds [...]
SVG Capital’s Hugo Boss and New Look sell-off reaps rewards September 25, 2015 The sale of fashion brands Hugo Boss and New Look have helped boost SVG Capital’s returns, even as a background of currency volatility weighed on its investment portfolio. The listed private equity firm has, like its rivals, benefitted from a fertile market for asset sell-offs, and returned £101m of capital to investors in the last [...]
Ryanair investors will reap €400m in spoils from sale of Aer Lingus September 25, 2015 Ryanair announced at its AGM yesterday it would be sharing the €398m (£293m) spoils from the sale of its Aer Lingus stake with shareholders. Ryanair agreed to sell its 29.8 per cent stake in the Irish airline to International Airlines Group, which owns British Airways and Iberia, this summer. The budget airliner also said it [...]
Leaked document suggests government looking into privatising Channel 4 September 24, 2015 Leaked documents suggest that the government is looking into privatising public broadcaster Channel 4. Papers being carried by an unidentified individual walking towards Number 10 Downing Street said: "In your recent meeting with Matt Hancock … extracting greater public value from the Channel 4 Corporation, focusing on privatisation options in particular whilst protecting …" Channel [...]
Marks and Spencers looking to sparkle with new lingerie and womenswear designer September 24, 2015 Marks and Spencers yesterday announced the appointment of its first director of design for womenswear, lingerie and beauty. The appointment of Queralt Ferrer, a former Inditex executive, is part of an attempt by Steve Rowe, the retailer’s new head of its non-food businesses, to revive the fortunes of M&S’ flagging women’s department. Ferrer will report [...]
Nike profit rises as sales of higher-margin products jump September 24, 2015 Sportswear giant Nike yesterday posted better-than-expected earnings and revenue, sending its share price up. On the back of selling more high-margin basketball shoes and clothing, Nike net income rose to $1.18bn (£774m), or $1.34 per share, in the first quarter ended 31 August, from $962m, or $1.09 per share, a year earlier. Revenue rose 5.4 [...]
