Brexit would be “disastrous” for UK, says Standard Life chairman March 24, 2015 The chairman of insurer Standard Life has told the CityWeek conference it would be "disastrous for London and the UK" if Britain were to leave the single market. Sir Gerry Grimstone said: Why on earth would we not want to be part of one of the biggest markets in the world? Our whole energy should [...]
Surprise as UK inflation falls to zero for first time since current records began in 1989 March 24, 2015 Inflation fell to zero in February for the first time since current the current records began in 1989, moving Britain closer to deflation, official statistics showed today. Figures released by the Office for National Statistics showed prices didn't increase at all in February compared with the same time a year ago. The figure came [...]
888 Holdings share price jumps as it announces one-off dividend after “record” year March 24, 2015 Investing may be a gamble, but this morning 888 Holdings shareholders won big after the online gaming group recommended a special dividend of 7 cents per share, on top of a final dividend of 4.5 cents per share. The news sent shares up 4.75 per cent at 160p as the market opened. The company said [...]
Missed financial targets at RSA wipe a third off of Stephen Hester’s bonus March 23, 2015 RSA chief executive Stephen Hester has been granted 68 per cent of his potential bonus, with missed financial targets mostly responsible for the loss of nearly one third. Hester’s £939,000 bonus took his total remuneration for 2014 to £2.12m, according to the company’s annual report released yesterday. Hester became embroiled in several pay scandals as [...]
Heron Tower forex trader CWM FX drops website after provider Leverate pulls platform March 23, 2015 CWM FX has pulled the forex trading function from its website after platform provider Leverate Financial Services terminated its working agreement, City PM understands. Earlier this month CWM FX referred to a Canada police raid at Heron Tower (100 Bishopsgate) in which 13 people were arrested, and later released on bail. Further details [...]
Mario Draghi defends ECB policy decisions after QE rollout March 23, 2015 European Central Bank (ECB) chief Mario Draghi yesterday hit back at claims that new monetary policy measures would reduce the need for governments to undertake reforms, ultimately harming growth prospects. “Do you really think a high level of interest rates would form an incentive for a government to improve its education system, or judiciary, or [...]
Finsbury Foods doubles profit as Britons gobble up Disney cakes March 23, 2015 Finsbury Food said yesterday its profit nearly doubled in the first half of the year thanks to its recent acquisition of rival baker Fletchers and soaring demand for Disney’s Frozen celebration cakes. The sponge cake, featuring Olaf the snowman, flew off the shelves at Chistmas, helping to lift sales by 24 per cent to £107.6m. [...]
Dairy Crest sale of milk business to Muller referred back to UK watchdog March 23, 2015 Dairy Crest Group said yesterday that it was still on track to sell its dairy operations after being referred back to the UK Competition and Markets Authority (CMA) yesterday by the European Commission for review. The company behind Cathedral City cheese and Frijj milkshakes is in the process of selling its loss-making liquid milk business [...]
FirstGroup’s Great Western contract win puts transport giant back on track March 23, 2015 After a string of disappointments, rail operator FirstGroup has at last had a bit of good news. Light appeared at the end of the tunnel for rail operator FirstGroup yesterday, with shares jumping 4.16 per cent after the company announced that its First Great Western franchise has been extended for another four years. Shareholders [...]
Volution Group looks to the future as profits rebound after IPO March 23, 2015 Ventilation specialist Volution Group has seen a remarkable turnaround in fortunes since its float, according to results released yesterday. The British company listed in June last year after previously being owned by a private equity group and reported a first half pre-tax loss in 2014 of £8m. But since its float the company has [...]
