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 [...]
YouGov revenues rise as General Election enters knife-edge finale March 23, 2015 UK polling firm YouGov saw revenues rise 11 per cent in the six months to 31 January as the country gears up for the General Election. But despite the UK’s ongoing state of political fervour, the standout territory for earnings was the US, where YouGov counts Coca-Cola, Facebook and Google among its client base. YouGov [...]
Analysts: Bank levy could drive Standard Chartered abroad March 23, 2015 George Osborne’s major new hike in the bank levy could prompt Standard Chartered to leave the UK, analysts at JP Morgan said yesterday, as the tax puts it at a disadvantage against global rivals. Such a move – to a location such as Singapore or Hong Kong – could take two or more years and cost [...]
Ukip economic policy: Patrick O’Flynn takes aim at “onesie state” and promises tax cuts March 23, 2015 Ukip's economic spokesman Patrick O'Flynn has unveiled the economic policies the party will carry into the General Election. The headline pledges included upping defence spending by £3bn per year, hitting the Nato target of two per cent of GDP being spent on the military. "It is astonishing to think that UKIP goes into this election [...]
Strong pound subdues manufacturing exports, the CBI says March 23, 2015 The strong sterling and continued uncertainty for the Eurozone are subduing Britain's manufacturing sector. The CBI said that export orders had fallen to their lowest in more than two years. Just 10 per cent of businesses reported total order books that were above normal for this time of the year. while 35 per cent said [...]
RBS to sell stake in US subsidiary Citizens Financial March 23, 2015 Royal Bank of Scotland will shrink its stake in its US subsidiary Citizens Financial to below 50 per cent. Citizens Financial has announced RBS will sell off 115m shares in the company which only listed on the New York Stock Exchange in September. RBS will also grant the underwriters – including Morgan Stanley, Goldman [...]
Patrick Cescau exits Tesco board in clear-out – to be replaced by Richard Cousins March 23, 2015 Patrick Cescau, the senior non-executive Tesco director who led the search for the supermarket's new chairman, is leaving the firm's board, confirming speculation of his departure. Cescau's departure comes after six years with the retailer – it was widely believed he would depart after a new chairman was named to clear the way for a [...]
Greek crisis: European markets dip ahead of meeting between Alexis Tsipras and Angela Merkel March 23, 2015 Germany's Dax lead European markets down, falling 0.93 per cent as Chancellor Angela Merkel prepared to thrash out a deal with Greek Prime Minister Alexis Tsipras this afternoon. France's Cac 40 fell 0.56 per cent, while the FTSE 100 – which on Friday hit 7,000 points for the first time – fell back 0.27 per [...]
FTSE 100 and 250 quarterly review takes effect as Hikma, Tullow Oil and Afren shuffle March 23, 2015 The shake-up revealed as a result of the quarterly review of the FTSE 100 and 250 takes effect this morning. Hikma Pharmaceuticals entered the blue-chip benchmark index, and its shares were down 2 per cent at £21.40. The pharmaceutical products manufacturer, which floated around ten years ago, has a market cap of £4.22bn. Hikma knocked out Tullow Oil [...]