Challenger banks: Moody’s says smaller lenders are poised to compete with Britain’s big banks for a share of the UK mortgage market February 25, 2016 British challenger banks are poised to compete with larger lenders for a share of the mortgage market, Moody’s Investors Service has said. In a new report out today, Moody’s said challengers are likely to use securitisation to compete for a bigger share of the UK mortgage market. “Increasing competition in the mortgage market driven by [...]
UK car production has best January since 2008 as exports jump – SMMT February 25, 2016 British car production has had its best January since 2008, according to data released this morning. UK car makers built 137,552 vehicles in January, up eight per cent on the same month last year, the Society of Motor Manufacturers and Traders (SMMT) said. Demand from abroad helped boost sales. The number of vehicles exported rose 9.7 [...]
Salesforce.com’s share price jumps after reporting a strong earnings outlook and company narrows loss February 24, 2016 Salesforce.com has reported a stronger-than-expected earnings outlook, prompting its share price to jump more than seven per cent in after hours trading. The world's largest maker of online sales software said it expects to earn between 99 cents per share to $1.01 per share in the current fiscal year on revenue of $8.08bn (£5.8bn) to $8.12bn, [...]
Oil price climbs as US demand outpaces supply February 24, 2016 Oil prices bounced this evening after US petrol demand over the past four weeks offset a rise in crude oil stockpiles. Demand for petrol soared by over five per cent compared to a year ago, while stockpiles of oil in the US rose by 3.5m barrels in the week, hitting an all-time high of over 507m barrels. [...]
Earls Court developer Capital & Counties sees share price fall over fears of cooling property market February 24, 2016 Capital & Counties (Capco), the Covent Garden landlord developer behind the £8bn regeneration of Earls Court, posted a 14 per cent jump in the value of its vast London estate last year. However shares in the company nevertheless slumped by eight per cent over fears that cooling demand and an oversupply of prime residential properties in the [...]
Bank of England’s Sir Jon Cunliffe pours cold water on recession and stagnation fears February 24, 2016 The UK can expect the economy to "grow solidly" and inflation to reach its two per cent target over the next few years, a Bank of England rate setter said today. Sir Jon Cunliffe told an audience at the London South Bank University Centre for International Business Studies: My central projection remains that the UK economy will continue [...]
McBride’s share price leaps as turnaround plan boosts profits February 24, 2016 Europe’s leading manufacturer of own-brand household and personal care goods McBride cheered investors after reporting a better-than-expected jump in profits, sending shares soaring by 10.2 per cent. The company, which supplies supermarkets with household goods such as washing liquid and dishwasher tablets, posted a 56.3 per cent jump in adjusted pre-tax profits for the six [...]
Panmure Gordon replaces CEO after “tricky” year that saw the share price lose 60 per cent in six months February 24, 2016 Panmure Gordon has replaced its chief executive Phillip Wale with deputy Patric Johnson after a tumultuous year that’s seen the bank’s share price drop by over 60 per cent. The mid-cap specialist investment bank and broker has also secured a £5m loan from its largest shareholder, Qatari investment group QInvest, that it hopes will put [...]
At the close: FTSE 100 index falls as share prices of Standard Chartered and miners including Anglo American and Glencore drop further while housebuilders make gains February 24, 2016 The FTSE 100 index closed lower on Wednesday as the price of oil slid further and miners and Standard Chartered extended losses. The UK's blue-chip index dropped 1.6 per cent to 5,867 points, led lower by Anglo American and Glencore. "European markets tripped up again on Wednesday as volatile moves in the price of oil [...]
Shell shakes up shale gas and oil operations as US chairman Marvin Odum exits February 24, 2016 Shell's US boss Marvin Odum is leaving the company after more than three decades at the firm, spurring the oil firm to shutter its "unconventional resources" division, of which he was director. Odum's exit along with Shell's withdrawal from Alaska and Carmon Creek in Canada has sparked a shake up of the unit which covered shale gas and heavy oil operations and which [...]
