Bank of England governor Mark Carney to face grilling from MPs over potential impact of EU referendum February 22, 2016 Bank of England governor Mark Carney and several of his deputies will likely have to clarify the risks associated with the June referendum on EU membership when they face a grilling from MPs tomorrow. While Carney tried to keep quiet on how the Bank would respond to the upcoming referendum on UK membership of the [...]
London house prices: Capital is the hardest place in the UK for local workers to get on the property ladder February 22, 2016 The difficulty of getting onto the property ladder has increased dramatically for London workers over last two decades, new research reveals this morning. Estate agent Hamptons International said that calculations based on income after taxes, essentials and mortgage payments showed it was significantly harder to buy in the capital than in any other region of the [...]
Ladbrokes and William Hill set to reveal the impact of new taxes on gambling firms February 21, 2016 Ladbrokes and William Hill are set to disclose the impact of new taxes targeted at the gambling industry this week, when Britain’s biggest bookies announce full year results. Ladbrokes is forecast to post a dramatic fall in pre-tax profit, from £112m to £44m, according to analysts at Deutsche Bank. The dismal numbers are being linked [...]
Playtech to go on £800m shopping spree as it eyes up Pokerstars owner Amaya and OpenBet February 21, 2016 Gambling software powerhouse Playtech is reportedly planning to use funds of up to £800m to launch a string of new acquisitions. Playtech, founded by Israeli billionaire Teddy Sagi in 1999, is thought to be eyeing up the UK-based software developer OpenBet, owned by Vitruvian Partners, in a £250m deal. However, as the firm has contracts with [...]
Winner of City Airport auction set to be named February 21, 2016 The sale of City Airport to one of four groups of bidders could be announced as soon as this week. Four groups of bidders are currently in the race to secure the east London airport, which has an expected price tag of over £2bn. A pension fund consortium that includes PSP Investments, money manager for [...]
Mining giant BHP Billiton’s dividend is expected to be the latest commodity rout casualty February 21, 2016 BHP Billiton is set to become the latest mining company to chop down its dividend later today, as it seeks to hold onto its A-grade credit rating. The dividend could drop by up to 75 per cent as the commodity rout continues to lay waste to profits in the sector. The company is expected to post [...]
Investors line up to bid for National Grid’s massive £11bn gas pipeline February 21, 2016 Investors are teaming up to bid for a controlling stake in National Grid’s £11bn gas pipeline arm that was put on sale last year. The consortium includes Canada’s Borealis Infrastructure; the Universities Superannuation Scheme, and Wren House, an arm of Kuwait’s sovereign wealth fund. Bankers at Rothschild and Citi have been recruited as advisors, the [...]
Telecommunications giant BT expected to avoid being broken up from Openreach, in verdict due this Thursday February 21, 2016 BT is expected to avoid having its infrastructure arm Openreach carved out this week, following months of campaigning for a split by the company’s rivals. City PM understands the decision will be announced on Thursday in Ofcom’s Digital Communications Review, though will reportedly include requirements for minimum-service standards between Openreach and BT’s rivals Vodafone, Sky, and [...]
Oil producers hope for a deal on production limits by early March February 21, 2016 A deal to cap oil production at January levels should be completed by 1 March, according to the Russian energy minister Alexander Novak. The deal, brokered by de facto Opec leader Saudi Arabia, has the backing of Russia, Qatar and Venezuela. Opec rebel Iran has welcomed the deal but has said it will continue to [...]
London house prices: Thousands of London homes are left vacant long-term February 21, 2016 Despite a chronic housing shortage in the capital, tens of thousands of homes in London are left vacant on a long-term basis, according to new data. More than 22,000 homes have been left empty by their owners for more than six months, despite soaring rents and property prices, data obtained under Freedom of Information by the [...]
