Intercontinental Exchange (ICE) reportedly considering selling Borsa Italiana and LCH.Clearnet as part of potential bid for London Stock Exchange Group March 3, 2016 A possible bid by the Intercontinental Exchange (ICE) for the London Stock Exchange Group (LSE) is reportedly likely to include selling off the London exchange's Italian business and French clearing arm. Shares in the LSE soared to a record high on Tuesday, after the New York Stock Exchange (NYSE) owner ICE confirmed it is considering bidding [...]
McCarthy & Stone shares fall despite half-year revenue growth, with company “uniquely placed” to serve growing over-65s population March 3, 2016 McCarthy & Stone shares fell today despite the retirement homebuilder reporting a 32 per cent growth in revenue, suggesting investors are profit taking after the shares' strong performance since the IPO in November. The figures The trading update reported revenue of £250m in the half-year ending 29 February. This was up year on year from £189m. [...]
US service sector growth edges down to two-year low – Institute for Supply Management March 3, 2016 The US services and construction sectors grew at a slower rate February, according to survey data released today. The Institute for Supply Management's non-manufacturing edged down to a score of 53.4 in February from 53.5. Figures above 50 indicate growth with February's figure implying slightly lower growth than January. While most sectors reported growth, the mining, arts, retail and [...]
Barnes & Noble sales drop in third quarter ended January 2016 as consumers flock away from the Nook March 3, 2016 Barnes & Noble today revealed that its sales have dipped over for the last three months, as the brand's ereader fails to find favour with consumers. Sales for the bookseller's third quarter ending January 2016 were $1.4bn (£1bn), down 1.8 per cent compared with $1.5bn the year before. Sales of the company's ereader, the Nook, performed particularly poorly, [...]
Mastercard plots £1bn bid for Vocalink after banks told by regulator to give up stakes in payments handler March 3, 2016 Mastercard is plotting a bid for bank-owned payments handler Vocalink, it has been reported. Sky News said the credit card issuer has approached the board of Vocalink over a deal that could be worth up to £1bn. The approach comes shortly after the new payments industry regulator said Vocalink’s current ownership structure is "hampering competition and [...]
Urban planner Sir Terry Farrell slams plans for transport hub at Old Oak Common as “London’s worst cock-up in 50 years” March 3, 2016 One of the capital's largest-ever regeneration schemes could end up being its "worst cock-up in years", one of London's best-known urban planners has warned. In an interview with the Evening Standard, Sir Terry Farrell said the £10bn Old Oak Common scheme has been the victim of in-fighting by politicians. The 100-acre site in North West London is set to become a [...]
Travis Perkins’ share price pushed higher despite a disappointing summer and an impairment charge over its plumbing business March 3, 2016 Building material supplier Travis Perkins has posted a 7.6 per cent rise in core profits and forecast a better year than last in 2016, after warning earnings would be at the lower end of expectations in October. Pre-tax profits in 2015 were down 30 per cent to £224m, negatively impacted by a £141m impairment charge to its plumbing business due to “challenging market conditions”. [...]
Domino’s is putting more cheese on your pizza thanks to drop in food prices March 3, 2016 Ordering Domino's Pizza this evening? Then you may find that the pizza chain has been more generous with the cheese topping on your Margherita, as a drop food prices helped contribute to a jump in sales and profits last year. Chief executive David Wild said its franchisee saved around £11m thanks to record low cheese prices, a drop in [...]
Brazil’s economy shrinks 3.8 per cent in 2015 March 3, 2016 Brazil's economy contracted by 3.8 per cent in 2015 compared with the year before, according to data released today by the country's statistical office IBGE. Industrial output plummeted by 6.2 per cent while services declined 2.7 per cent. On the expenditure side, a separate way of measuring GDP, investment sank by 14.1 per cent while household consumption dropped [...]
Admiral’s share price hits record highs and leads the FTSE 100 higher after strong results March 3, 2016 Insurance group Admiral has posted a six per cent rise in pre-tax profit to £377m which sending its shares to a record high and leading the FTSE 100 to fresh highs for the year. Higher car insurance rates were one of the biggest drivers of profit for the company, as Admiral pulled in more customers but lowing its prices to [...]
