McLaren profits accelerate as supercar deliveries worldwide increase June 25, 2015 Sales at McLaren Automotive are clearly speeding forward: figures published this morning showed pre-tax profits accelerated 233 per cent to £15m in the year to the end of December – up from £4m during the same period in 2013. Profit after tax on a constant currency basis was also up to £8.5m – a 331 [...]
Standard Life to shut down Singapore arm June 25, 2015 Standard Life is closing its insurance business in Singapore, swallowing a £45m loss, it revealed today. The FTSE 100 company said the closure would go ahead subject to regulatory approvals, but that it was now no longer accepting new applications or contributions to existing plans. Customers in Singapore will be contacted with an [...]
Afren’s share price soars as it reveals entire board is stepping down at today’s AGM June 25, 2015 Afren's share price jumped nearly 20 per cent this morning after it emerged the entire board, including chairman Egbert Imomoh, will step down after today's AGM. As well as Imomah, Toby Hayward, Patrick Obath, Sheree Bryant and Iain McLaren will not stand for re-election as directors. Imomah said: "The past year has been [...]
US stocks fall as investors avoid equities – New York Report June 24, 2015 US stocks closed lower yesterday, dropping in a broad decline as the outcome of negotiations between Greece and its international creditors remained up in the air, prompting investors to drop riskier assets like equities. Wall Street has lately taken its cue from the situation in Greece, which needs fresh funds to avoid defaulting on a [...]
Be afraid: The autumn could bring a significant correction in US equities June 24, 2015 There are times when you should be afraid, very afraid. This might be one of them. Two measures of US equities strike me as particularly worrying. First, the Shiller cyclically adjusted price-to-earnings ratio (Cape). Second, Tobin’s Q measure. Cape is defined as the ratio of prices (on the S&P index) to average inflation adjusted earnings [...]
You can now sign up for Facebook messenger without having a Facebook account – but not in the UK June 24, 2015 You can now sign up for Facebook messenger without having a Facebook account. In another sign of the power of the smartphone, users won’t even require an email address. Disappointingly for UK users, the service is currently only available in Canada, the US, Peru, and Venezuela. Read more: Facebook Messenger adds 300m users since messaging [...]
Two graphs that show how expensive living in the UK is – rents are double the continental average June 24, 2015 Private rents in the UK are the highest in all of Europe, analysis by the National Housing Federation shows. Getting a tough ride compared to European counterparts, rents in the UK also take up the largest chunk of people’s salaries, while they are also the least secure. UK rents, according to the analysis, average at [...]
Northern powerhouse project: Finance, science, and tech industries creating two-speed housing market, could boost north June 24, 2015 A big boost for the northern powerhouse project? Areas that have embraced the science, technology and finance industries have enjoyed disproportionately high house price growth, according to research from Savills. The fillip given to areas with a large number of companies in key industries suggests encouraging growth in such industries in the north could lead [...]
Greek crisis: Leaked document shows creditors still at odds with Greece June 24, 2015 A document leaked this afternoon shows deep divisions remain between Greece and its creditors over crucial issues such as taxation and pensions. Read more: Can Greece get past its sticking points? The document, leaked to several sources including the FT, showed Greece's original proposals, heavily edited by its creditors. Issues such as VAT and pensions remain massively [...]
The world’s most entrepeneurial countries: Uganda tops the list while UK comes 37th June 24, 2015 Uganda is the most entrepreneurial country in the world, according to an analysis by Approved Index. Read more: Why the government's "Help to Grow" could transform UK entrepreneurship The African country, whose economy was devastated by dictatorship only a few decades ago, now has the planet's highest proportion of people who have started businesses. [...]
