Mazars revenue grows by 14 per cent for year ended August 2015, as advisory services grow by 25 per cent February 10, 2016 Mazars has today reported revenue of £149.7m in its UK business for its year ended August 2015, a rise of 14 per cent compared to £130.9m the year before. The accountancy firm also announced a boost in its profits to £28.8m, up 10 per cent from £26.2m in 2014. Phil Verity, UK senior partner at Mazars, said: "This [...]
Thanks, Janet Yellen: WTI crude oil price falls back below $28 February 10, 2016 US oil benchmark WTI crude fell back below $28 this afternoon, after comments from US Federal Reserve chair Janet Yellen warned turbulence on financial markets could derail economic growth. WTI crude fell to $27.75 per barrel after prepared remarks by Yellen showed she believes financial conditions have become "less supportive" of growth. The news follows [...]
Markets breath a sigh of relief as tough new regulation, MiFID II, is delayed February 10, 2016 Finance firms have been given another years breathing room from a regulatory overhaul of trading rules. The European Commission has proposed a delay of the Markets in Financial Instruments Directive, known as MiFID II, by a year. The new deadline is 3 January 2018, from 3 January 2017 previously. In November last year the commission [...]
Bank of England’s Andrew Hauser defends financial crisis safety net on the 150th anniversary of the Overend and Gurney panic February 10, 2016 A Bank of England official has defended the safety net it used in response to the financial crisis. Andrew Hauser, executive director of banking, payments and financial resilience, said the Bank’s lender-of-last-resort (LOLR) operations during the 2007 and 2008 financial crises “helped prevent global economic and financial meltdown.” The Bank first lent cash to Northern Rock in [...]
Bank shares bounce after heavy losses, investors cheer reports of Deutsche’s emergency bond buyback plan February 10, 2016 Bank stocks have managed to recover some of their lost ground today, following massive sell offs at the start of the week sending shock waves through global equity markets. Royal Bank of Scotland has made the biggest recovery, soaring by four per cent as investors back track on yesterday’s losses. RBS was down by over [...]
Outgoing Waitrose boss Mark Price appointed trade minister for foreign office and BIS February 10, 2016 Waitrose' outgoing chief executive Mark Price has been appointed trade minister at the foreign office and the department for business, innovation and skills (BIS), the government has announced. Price will take up the role in April after the appointment was approved by the Queen today. He will replace Lord Maude who has announced plans to step down next month after [...]
Federal Reserve chair Janet Yellen flags risk to growth from financial market turmoil February 10, 2016 US interest rates could stay on hold for longer if the current financial market volatility persists. Federal Reserve chair Janet Yellen warned that continuing swings in financial markets could partially derail the economy's growth, and said financial conditions had already become "less supportive". However she dismissed the idea that the Federal Reserve may need to [...]
Bellway on track for jump in profits after selling homes at record high prices February 10, 2016 Housebuilder Bellway has kept its shareholders happy. The company said it was on track to deliver a significant rise in sales and earnings for the first half building more homes and selling them at record prices. The family-owned company, which builds homes across the country, completed 4,188 homes in the first half of the year to 31 January, up 11.6 [...]
Greene King’s share prices bubbles up on sales rise after it shots a Spirit February 10, 2016 Greene King, the FTSE 250 listed pub operator and brewer, has served up a rise in sales for the nine months to 7 February as pub goers continue to dine out while having a pint. The brewer, having gobbled up rival operator Spirit last year for £774m, said that Christmas sales had been particularly strong, [...]
Time Warner revenues and profits up for full-year 2015 but fourth quarter not as favourable, and company agrees to increase quarterly dividend amount February 10, 2016 Time Warner has today revealed revenue of $28.1bn (£19.3bn) for its full year ended December 2015, up three per cent on the year before. The US-based media giant also reported a $6.9bn adjusted operating profit for its full year, up 19 per cent on 2014. "We had another very successful year in 2015, demonstrating once [...]
