Buyers really want dividends, apparently, with shares in some major players down more than five per cent April 28, 2016 Shares which are now trading ex-dividend suffered badly this morning, with many falling more than five per cent in early trading. FTSE 100 shares trading ex-dividend – which refers to the point when the dividend payout belongs to the shares seller rather than the buyer – in ITV were trading down 5.9 per cent at 219.9p [...]
Yen surges and Nikkei slumps after Bank of Japan shocks markets April 28, 2016 "Surprise" was the word used this morning to describe the Bank of Japan (BoJ)'s decision not to cut interest rates. In the stage-managed world of central banks, "surprise" is not a good thing. When Mario Draghi last caught the markets off guard just a few weeks ago when he said he could not see the European [...]
EU referendum: Economists launch new pro-Brexit report attacking EU as an “evil” customs union April 28, 2016 A group of economists has struck back against what they see as the one-sided tone of the EU referendum debate today, with a new report that outlines the potential benefits of leaving the EU. "Economists for Brexit", a campaign group launched this morning, said Brexit would lead to lower prices, more jobs and faster economic growth, dismissing the claims put [...]
As UK growth slows to 0.4 per cent in the first quarter, is George Osborne right to blame it on the EU referendum? April 28, 2016 Scott Corfe, director at the Centre for Economics and Business Research, says Yes. Our business survey research shows that companies have reined in capital spending plans amid all the uncertainty over Brexit. This is particularly the case for large businesses, and we are likely to see some weak investment figures in the first half of this [...]
CBI warns of delays to the apprenticeship levy as it worries the scheme may not be viable by April 2017 launch date April 28, 2016 Employers are demanding the government rethinks its flagship apprenticeship levy policy as business groups have raised yet more concerns that the scheme is not fit for purpose and might not be ready on time. In a speech later today, Carolyn Fairbairn, director general at the CBI will say: “Firms are passionate about apprenticeships, and it's [...]
LK Bennett sales boosted by online expansion but closure of some weaker UK stores dents turnover April 28, 2016 LK Bennett, the fashion retailer that counts the Duchess of Cambridge among its fans, said like-for-like sales grew by five per cent last year after winning over new shoppers through its growing portfolio of stores overseas. However, group turnover slipped as the high street brand shut down some of its loss making UK stores, falling by 1.8 [...]
Discount high street chain launched by Christo Wiese and ex-Asda boss Andy Bond plots more store openings April 28, 2016 Pep&Co, a discount variety chain launched last year by former Asda boss Andy Bond and Christo Wiese, the South African retail magnate, has announced plans to roll-out more stores this autumn after opening 50 sites in just over 50 days last summer. Wiese already snapped up discount chain New Look through his investment vehicle Brait in 2014. However, [...]
US Federal Reserve keeps benchmark interest rates unchanged with a 9/1 vote April 27, 2016 The US Federal Reserve has left its overnight lending rate for banks unchanged at a target range of between 0.25 and 0.50 per cent at its latest meeting. The committee of 10 said in a statement it would continue to monitor the US and global economic situation. The Committee expects that economic conditions will evolve in a manner [...]
Top McCarthy & Stone investors sell their shares in £200m placing April 27, 2016 Investors in McCarthy & Stone, the retirement housebuilder, sold 85m shares in a share placing worth around £200m. Funds managed by Anchorage Capital Group, TPG Special Situations Partners, Goldman Sachs European Special Situations Group and Strategic Value Partners, LLC and certain other shareholders have sold shares representing 15.8 per cent of McCarthy & Stone's share capital. [...]
Five questions and answers about Libya’s potentially “illegal” oil shipment April 27, 2016 A ship loaded with 650,000 barrels of potentially illegal oil from war-torn Libya is currently sailing across the ocean. It left a port in what was once one of Africa's biggest oil producers late yesterday. The move has sparked international outcry, with various actors denouncing it as illegal and one country refusing to let the tanker enter [...]
