SMMT: New car sales just had the best January in 11 years February 4, 2016 A whopping 169,678 new cars were sold in the UK in January, according to new data – meaning new car sales had their best January in 11 years. Data from the Society of Motor Manufacturers and Traders (SMMT) showed registrations increased 2.9 per cent in January. Most of the growth was driven (see what we [...]
UK house price betting odds: A bookmaker is taking bets house prices will fall this year – and London prices will fall fastest February 4, 2016 Today's Halifax house price index may have suggested house price growth is speeding up – but one bookmaker is giving decent odds they'll actually fall this year. Star Sports, which calls itself "the gentleman's bookmaker", is giving odds of 8/11 that house prices will fall in 2016 – against odds of 11/10 they'll rise. The [...]
UK house price growth speeds up in January as buy-to-let stamp duty hike looms February 4, 2016 House price growth sped up in the year to January, new data showed this morning – suggesting buy-to-let investors are trying to sneak in those transactions before new stamp duty rules are introduced in April. The annual figure was up from 9.5 per cent in December and nine per cent in November, according to Halifax's house [...]
Ouch: Credit Suisse has cut bonuses by 36 per cent February 4, 2016 Having unveiled its first annual loss since 2008, there was one more howl of pain in store for Credit Suisse bankers this morning, after chief executive Tidjane Thiam told analysts the bank has slashed bonuses by more than a third in its investment bank. On a call with analysts this morning, Thiam said bonuses at [...]
FTSE 100 index opens up as oil prices surge lifting oil companies and miners including Anglo American and Glencore ahead of the Bank of England’s interest rate decision February 4, 2016 The FTSE 100 index opened up this morning as markets priced out a further interest rate increase by the Federal Reserve this year, in turn causing the dollar to slide and the price of oil to rally. The UK's blue chip index rose 1.46 per cent to 5,924 points ahead of the Bank of England's latest [...]
Vodafone share price rises on sixth consecutive quarter of improving sales fuelled by emerging markets growth February 4, 2016 Strong growth in emerging markets lifted Vodafone to its sixth consecutive quarter of improving sales. The figures Vodafone reported group organic service revenue up by 1.4 per cent to £10.3bn in the quarter ending 31 December 2015, up from 1.2 per cent the previous quarter. Sales in Africa, Middle East and Asia Pacific were especially [...]
EasyFoodstore shuts after demand for 25p food clears shelves February 4, 2016 The EasyFoodstore has been forced to close just days after it was launched, after bargain-hunting Londoners stripped the shelves bare. The pilot was launched on Monday, in Park Royal, north-London, with an introductory offer of 25p applied to all items ranging from pizzas to jaffa cakes. Those looking to get their hands on a good deal [...]
First South Western Trains and Stagecoach South West to battle it out for train franchise February 4, 2016 The government has shortlisted two train firms as it narrows down the list of potential winners of the South Western franchise competition. First South Western Trains and Stagecoach South West have made it to the final stage to secure the contract for one of the busiest routes in the country. Bidders will now need to [...]
L&G chief financial officer Mark Gregory to retire after 17 years at business February 4, 2016 Legal & General's chief financial officer Mark Gregory is leaving the business after 17 years. He will retire from the group on 31 January, although will remain on hand until a successor is appointed to "ensure there is a smooth transition". Gregory has been an executive director on the board for the last seven years, initially [...]
Royal Dutch Shell’s share price jumps despite reporting full year earnings 80 per cent down as it confirms it will cut 10,000 jobs February 4, 2016 Royal Dutch Shell is hurting like everybody else, with falling oil prices causing an 80 per cent decline in its full year earnings – but the company's share price jumped 3.44 per cent in early morning trading. The figures Royal Dutch Shell reported full year earnings on a current costs of supplies basis of $3.8bn (£2.61bn), compared with $19bn [...]
