National Australia Bank prices Clydesdale and Yorkshire Banks shares near bottom of range – but puts off IPO by a day February 2, 2016 National Australia Bank (NAB) has said shares in its Clydesdale and Yorkshire Bank chains (CYBG to their friends) will trade at 180p – but added that the much-anticipated initial public offering (IPO) will take place tomorrow. The new bank had been expected to begin trading on the London Stock Exchange today. But NAB said a request from one of the ratings [...]
Immigration and terrorism worries weigh on UK consumer confidence February 2, 2016 Consumer confidence in the UK has dropped for the first time since 2013, according to survey figures published this morning. Market researchers Nielsen said its consumer confidence index fell to a score of 101 in the final three months of 2015. Concerns over immigration and terrorism had a negative impact. However, consumers are upbeat on [...]
Northern SMEs call for digital investments, as poll shows doubt over the scheme February 2, 2016 Investment in digital infrastructure has been found to be as important to small businesses in the north of England as transport between cities. A desire for increased digital infrastructure spending tied with inter-city transport for the second most wanted investment, supported by 37 per cent, behind increased local control over public spending with 40 per cent. [...]
Next mayor will need to bank on private sector to fund London’s needed infrastructure boom, warns Institution of Civil Engineers February 2, 2016 An industry body for engineers has today called on the mayoral candidates to try out a private-sector focused funding platform that has been successful in the US to help fund London's much needed infrastructure boom. The Institution of Civil Engineers (ICE) has warned that the next Mayor of London will have to do something "radical and innovative" [...]
Pressure mounts on legal sector to make services easier for customers to understand as another consumer body joins the debate February 2, 2016 Legal sector regulators are facing further calls to make the marketplace easier for consumers to understand, as yet another consumer-focused body has voiced concerns. A report out today by the Legal Services Consumer Panel urges regulators to do more to make sure consumers can easily access useful information to help them make informed decisions. The study [...]
Advertised salaries rebound as competition for places declines February 2, 2016 Employers' advertised salaries are rebounding, new figures reveal. Advertised pay rose 0.6 per cent in December to an average of £33,322, jobs site Adzuna said this morning, the second rise in ten months. The number of vacancies dropped 6.4 per cent from November, but is up 20.3 per cent compared with the same month in [...]
Sainsbury’s set for £1.3bn Argos deal: Supermarket and Home Retail Group could announce agreement today February 1, 2016 Sainsbury's is close to clinching a £1.3bn deal to buy Home Retail Group after improving its offer ahead of today’s deadline. The supermarket chain made an initial bid of around £1bn for the Argos owner in November, saying a combination of the two businesses would create a retail empire to rival John Lewis and Amazon. [...]
Oil prices: Africa’s big oil producers Nigeria and Angola seek World Bank support as rout bites February 1, 2016 Two of Africa's biggest oil producers, Nigeria and Angola, have been forced to seek help from the World Bank, as falling oil prices weigh on their currencies and balance sheets. Nigeria's finance minister, Kemi Adeosun, said yesterday that the country has held exploratory talks with the Washington-based institution to help fund a record budget this [...]
Google share price soars in after hours trading as parent company Alphabet’s revenue rises February 1, 2016 Google jumped as much as 8.4 per cent to $813 per share in after hours trading, putting it on course to oust Apple as the world's most valuable company by market capitalisation when regular trading resumes tomorrow. Google's new parent company Alphabet reported annual revenue rose 18 per cent to $21.33bn (£14.8bn) in the three months ended December 31. [...]
S&P cuts Shell’s rating and warns on other oil companies BP, Eni, Repsol, Statoil and Total February 1, 2016 Standard & Poor's (S&P) today cut Royal Dutch Shell's credit rating, while warning that there's a "significant likelihood" those of several other European oil firms could follow. "We lowered our ratings on Royal Dutch Shell PLC to 'A+/A-1' from 'AA-/A-1+' and placed the long-term rating on CreditWatch with negative implications," S&P said in a statement today. [...]
