Before the bell: What you need to know before the US market open May 3, 2016 Oil prices are falling and Australian central bankers are getting jumpy. Here's what you need to know before the US markets open. Markets look set for a sharply lower open, following their European counterparts southwards. Many seem to have taken the old adage of "sell in May and go away," to heart it seems. S&P [...]
Estee Lauder plans shake-up of its beauty empire as third quarter sales rise May 3, 2016 Estée Lauder has announced a shake-up of its beauty empire that will result in up to 1,200 job losses, after posting a rise in third quarter sales. The company, which owns brands including Jo Malone, M.A.C and Clinique, said the strategy, called Leading Beauty Forward, was aimed at simplifying the business and cutting costs in an attempt to boost [...]
Signs of life in London’s flotation market as firms consider IPO options May 3, 2016 There are signs of life in London's flotation market after a slow start to the year. Furniture retailer The Range and store card maker NewDay are both considering initial public offerings (IPOs), which could value each company at more than £1bn. Today, audio visual and document solutions distributor Midwich announced it had raised £75m through a [...]
The Co-operative Group sells former Somerfield food stores to Hilco, the turnaround specialist behind HMV May 3, 2016 The Co-operative has sold around 90 food stores it inherited from its £1.6bn takeover of Somerfield eight years ago to Hilco, the buyout company behind HMV. The mutual said the sale to The Food Retailer Group, a subsidiary of Hilco, included 36 trading stores and an additional non-core portfolio of 50 properties, including offices and shops, that are no longer [...]
Employers rely on this many workers from elsewhere in the EU May 3, 2016 UK employers rely on a workforce made up of over one million EU workers, a study out today has found. According to the research by Adecco and the Social Market Foundation, there are 1.6m employees in the UK who hail from somewhere else in the European Economic Area (EEA) or Switzerland, which equates to around [...]
European Commission trims growth forecasts and warns on EU referendum May 3, 2016 Growth and inflation will remain weak for the rest of the year, the European Commission has said as it cut its outlook for the continent in its quarterly economic forecast, released today, and warned Brexit could knock growth even further The Eurozone area will grow by 1.6 per cent this year – down from a [...]
Is Aim about to get a new Joules in its crown? Fashion retail unveils plans for £140m IPO May 3, 2016 Joules has announced plans to bring its colourful wellies and country-style clothes to London's junior market with a £140m listing. The fashion and lifestyle retailer said the initial public offering will take place in the second quarter of the year, with its founder Tom Joule expected to sell down his 80 per cent stake to less than 50 [...]
Bleak outlook for UK manufacturing industry – is Brexit to blame? May 3, 2016 Confidence in the manufacturing industry plummeted in April, according to the latest purchasing managers' index (PMI) data out this morning, raising fears about a sustained slowdown in the sector – and the wider economy. On a scale where scores below 50 mark contraction, the Markit/Chartered Institute of Procurement and Supply (CIPS) survey came in at 49.2 – [...]
At the open: European markets tumble, but the pound prances on May 3, 2016 European markets opened down this morning as traders consolidated positions ahead of a glut of corporate results this week. The FTSE 100 shot up by 16 points as bank holiday weekend trades become official, but then immediately plunged to stand down 0.4 per cent at 6,214 within the first hour of trading. Over in Germany, [...]
Rich people live longer than poor people … and the gap is widening May 3, 2016 "Money can't buy you happiness," some poor fellow once said. It can, however, purchase an extra few years of good health, according to a new study from Cass Business School out this morning. Read more: The North-South life expectancy divide Researchers found that the difference in life expectancy between those of us who live the [...]
