Hargreaves Lansdown share price falls as costs mount – although pensions savers aren’t buying Ferraris May 20, 2015 When the chancellor first announced plans to lift rules forcing pensions savers to buy annuities in 2014, much was made of the fact a generation of pensioners could go and splurge their pension pots on Ferraris. But two months after savers were given access to their pensions, Hargreaves Lansdown has said people are being eminently [...]
Burberry share price falls as the group lowers its outlook for 2016 May 20, 2015 Shares in Burberry fell more than 5.4 per cent this morning after the iconic British brand lowered its guidance for the full year, saying wholesale and retail profit for 2016 would come in around £40m below expectations. The figures Underlying revenues at luxury brand Burberry rose 11 per cent to £2.5bn in the full year to [...]
UBS to pay US authorities $545m over forex-rigging scandals May 20, 2015 UBS is to pay $545m (£351.7m) to US authorities to settle a series of investigations into the bank's alleged rigging of the foreign exchange markets and Libor. The Swiss bank confirmed the total, to be paid to the Department of Justice, the board of governors of the Federal Reserve and the Connecticut Department of [...]
SSE share price edges down as it announces plans to close Ferrybridge power station May 20, 2015 The figures Being an energy giant isn't always easy these days – but results posted today showed profits before tax at SSE rose 24 per cent in the year to the end of March to £735.2m, from £592.5m the year before, although operating profits stayed flat, at £1.88bn. But the government's push to persuade energy customers to shop around more [...]
Marks & Spencer’s share price rises after it posts first profit increase in four years May 20, 2015 Marks & Spencer has beaten expectations as its returns to profit growth – but its full year results show a mixed performance across the group. Nevertheless investors were impressed with shares rising 1.4 per cent to 593p in mid-morning trade. [stockChart code="MKS" date="2015-05-20"] The figures Marks & Spencer has beaten expectations on its underlying pre-tax [...]
Plus500 says UK accounts may unlock today after temporary ban sent share price plunging May 19, 2015 Odey Asset Management has lifted its stake in beleaguered spread-betting firm Plus500 to 14 per cent, as the forex trading website says it will begin to unlock frozen UK accounts as early as today. The Israel-based tech firm was rocked on Monday when it announced it was temporarily banning UK customers from trading or [...]
Enjoy it while you can! Analysts say deflation will not be here to stay May 19, 2015 Deflation has finally arrived in the UK for the first time since the 1960s, but economists are almost unanimous in saying it will be temporary. Inflation – as measured by the year-on-year change in the consumer price index (CPI) – was minus 0.1 per cent in April. The last time inflation was this low, [...]
Moneysupermarket share price dips as Simon Nixon cuts stake in website and rakes in £56m May 19, 2015 Entrepreneur Simon Nixon yesterday sold off a 3.7 per cent stake in Moneysupermarket.com, the price comparison website he set up in 1999, making him £56m. The sale of 20m shares, announced yesterday by Credit Suisse, cuts Nixon’s stake in the company down to 12.8 per cent. At 280p per share, the sale netted him [...]
HSBC to charge banks for euro deposits in response to low interest rates May 19, 2015 HSBC will soon be charging other banks that keep deposits with them, in response to the low-interest rate environment. Deposits of euros, Swiss Francs, Danish crowns and Swedish krona will be charged by Europe’s largest bank from August. But it will only affect banks, not other businesses or individuals. “HSBC charges banks for deposits they [...]
London house prices soaring above the rest of the UK with average cost now £498,000 May 19, 2015 House prices in the capital continue to outpace prices in the rest of the UK, according to the latest figures from the Office for National Statistics (ONS). London house prices were up 11.2 per cent in the year to March 2015, compared to a nationwide average of 9.6 per cent, according to the ONS house price [...]