Winners and losers of this year’s FTSE quarterly reshuffles: Morrison, Worldpay and Hikma Pharmaceuticals December 2, 2015 The FTSE index's last quarterly reshuffle of this year has rolled round, and it could conclude with a bang, as reports suggest embattled high street supermarket Morrison will be given the shove. The other companies being moved to the FTSE 250 index are reportedly security firm G4S and engineering group Meggitt. Worldpay, the payments firm [...]
Sweett Group: Property surveyors admits Middle East bribery in relation to an SFO case into its activities in the United Arab Emirates December 2, 2015 The Serious Fraud Office (SFO) has today revealed that Sweett Group has admitted to a bribery offence. The SFO opened an investigation into the property surveyors in July 2014, regarding its activities in Middle East, particularly the United Arab Emirates (UAE). In Sweett Group’s interim results statement, which was also published today, chief executive Douglas [...]
Telford Homes profit doubles as focus on “affordable” new houses in London areas of Aldgate East and Isle of Dogs pays off December 2, 2015 London-focused housebuilder Telford Homes saw pre-tax profits more than double in the first half, as the supply of new homes in the capital fails to keep up with demand. Chief executive Jon Di-Stefano said it owed its success to Telford's focus on non-prime, or more affordable, areas in the capital such as Stratford where demand for new homes remains [...]
RWE to IPO its renewable, grids and retail units next year amid increasingly testing German energy policy December 2, 2015 RWE, Germany’s second largest utility, has announced plans to hive off its renewables, grids and retail units, in a bid to adapt to the government’s energy policy. The company’s chief executive, Peter Terium, yesterday announced plans to create the separately listed company next year, with 10 per cent of its stock being offered to the [...]
Atlanta Federal Reserve president Dennis Lockhart backs December US interest rate hike December 2, 2015 The president of the Atlanta branch of the US Federal Reserve has reiterated his current support for a December lift-off in interest rates. “Absent information that drastically changes the economic picture and outlook, I feel the case for liftoff is compelling,” Dennis Lockhart said today. “I think the economy is closing in on full employment.” [...]
Biggest IPOs of 2015, including Aldermore, The Gym Group, Shawbrook, Worldpay and Auto Trader, have beaten the FTSE 100’s performance December 2, 2015 The volatile markets this year have not been ideal for company flotations. But despite this, the 28 biggest IPOs in the UK this year have beaten the FTSE 100 by 21.2 percentage points, generating an average return of 17.2 per cent according to Deloitte An investment of £1,000 in each of the 28 IPOs would now be worth £32,811, whereas a £1,000 investment [...]
Sir Charlie Bean blasts UK’s “outdated” Office for National Statistics December 2, 2015 The UK’s Office for National Statistics has failed to keep up with the times, a new independent report has said today. The ONS needs to make better use of technology, utilise different private and public sector data sources, and reinvest in a London presence, according to the interim review led by Sir Charlie Bean. The [...]
Pace’s share price surges as US Department of Justice closes investigation into merger with Arris December 2, 2015 Pace, the set-top box maker, helped lift the FTSE 250, with shares rallying after the US Department of Justice (DoJ) closed its investigation into Arris' acquisition of the company. Pace's shares rose 7.61 per cent to 435.35p in early afternoon trading. The DoJ had previously requested information and was investigating the combined businesses position in "optical transmission", which had [...]
Insecurity of tenure, inadequate legal protection and a lack of publicly available information: The UK’s dysfunctional rental market is due a shake-up December 2, 2015 Insecurity of tenure, inadequate legal protection and a severe lack of publicly available information on individual rental properties are just some of the woes reported by this country’s nine million renters. But for me, by far the worst characteristic is the breath-taking amateurishness which underpins every aspect of the rental experience. The Private Landlords Survey [...]
Marks and Spencer loses appeal against former landlord BNP Paribas December 2, 2015 You know that times are tough for retailers when they are prepared to fight for every penny they could put back in the piggy-bank. Marks and Spencer (M&S) has today lost a long-running battle against its former landlord BNP Paribas after the Supreme Court dismissed its appeal to claw back £1.1m of rent it claims it overpaid. In July 2011, [...]
