JD Sports appoints Pentland chairman Andy Rubin to its board as international expansion beckons February 12, 2016 JD Sports Fashion has appointed Pentland Brands chairman Andy Rubin to its board as a non-executive director as the business looks to ramp up its international expansion. Rubin is also director of the Pentland Group – which owns brands including Boxfresh, Ellesse, Speedo and Hunter – has previously won accolades as one of the best companies to work for in the country [...]
UK house prices: Buying a house with your heart instead of your head costs more than £16,000 – but London isn’t the worst February 12, 2016 Waiting until you fall in love with a house before agreeing to buy it? New research claims that could really be hurting your wallet. Zoopla estimates that over a third of purchasers (34 per cent) spent more than their allocated budgets because they were ruled by their heart instead of their head – and the average [...]
Rolls-Royce share price soars on its first cut dividend in 24 years as profits slump February 12, 2016 Plunging profits have forced Rolls-Royce to slash its dividend for the first time in a quarter of a century – but shareholders were mollified. The figures Rolls-Royce has cut its dividend to 16.4p for 2015, down 23 per cent from 21.3p last year. The engine maker reported underlying revenue of £13.4bn for 2015, down one per cent [...]
CMA fines pharma companies including GSK £45m February 12, 2016 The Competition and Markets Authority has fined GlaxoSmithKline, Generics UK and companies formerly known as Alpharma £45m for conspiring to delay the entry of a generic drug between 2001 and 2004. GSK, which has been fined £37.6m, was found to have made payments and other value transfers of more than £50m to Generics UK and Alpharma, who [...]
What a week: Over $1 trillion wiped off global stock markets including the FTSE 100 and Dow Jones since Monday February 12, 2016 Trading floors throughout the world were overwhelmed by fear yesterday, as investors pulled cash out of risky assets and sent stock markets plunging further into the red. Around $1.2 trillion has been wiped off the value of global equities since the start of the week, with banks bearing the brunt of widespread concern that another [...]
Sales of £10m-plus London homes drop by a third as George Osborne’s stamp duty tax changes bite February 12, 2016 Sales of London's priciest homes slumped by a third last year as even the wealthiest investors balked at paying the higher rate of stamp duty introduced by George Osborne's tax reforms. The number of super prime properties – those costing £10m or more – fell from 195 in 2014 to 130 last year, down 32 per cent, according to [...]
Brits bought a record number of new cars last year, but what was the best selling colour? February 12, 2016 White was the most popular colour for new cars last year. It was closely followed black and grey, with Brits opting for neutral tones as they smashed the record for new car purchases. The UK’s car manufacturers boomed last year on the back of strong domestic sales – 2015 was their best year for a decade. According [...]
JP Morgan Chase share price rises after chief executive Jamie Dimon buys 500,000 shares worth $26.5m February 11, 2016 JP Morgan chief executive Jamie Dimon has bought 500,000 shares in the bank, worth roughly $26.5m, City PM understands. The bank's shares rose 1.4 per cent in after-hours trading, after the purchase was first reported. JP Morgan was one of many global lenders whose shares were clobbered during turbulent trading today. The bank's shares ended [...]
US stocks end lower as banks including Bank of America, Citigroup and Goldman Sachs are walloped February 11, 2016 Despite their best efforts, US stocks followed the rest of the world's stock markets lower. The Dow Jones finished the day 1.6 per cent lower, at 15,660 points, while the S&P 500 finished 1.23 per cent lower, at 1,829 points. And while the Nasdaq had a late rally, jumping into the green for a few [...]
Groupon shares shoot up by almost 20 per cent after company reveals it swung back into profit last year February 11, 2016 Shares in e-commerce company Groupon shot up by almost 20 per cent in after hours trading after the firm revealed it swung back into profit in 2015. The group reported a 3.8 per cent increase in revenue in the final quarter of 2015, up to $917m (£634m) from $883m, smashing through expectations of $845.9m. Gross [...]
