HSBC share price closes 4.6 per cent lower after full-year profits tank due to “challenging year” February 23, 2015 HSBC ended the day with its shares at 577p, 4.6 per cent lower than Friday's closing price. Having announced that profits fell 17 per cent during 2014, it admitted its US arm had also been subpoenaed by the US Commodity Futures Trading Commission. The CFTC said wanted to see documents relating to its precious metals [...]
Quindell share price leaps as it extends talks with Slater & Gordon over sale of legal services arm February 23, 2015 Shares in insurance outsourcer Quindell opened a staggering 27 per cent higher this morning, after it revealed it was in extended talks with Slater & Gordon over the sale of its professional service division, which will dampen market speculation that the talks had hit a wall. Quindell has assured investors that the offer would still "imply [...]
Morrisons’ hunt for a new chief moves closer to check-out with ex-Tesco boss David Potts in pole position February 22, 2015 Morrisons is close to announcing the appointment of a new chief executive, with former Tesco executive David Potts said to be in pole position for the job. The Bradford-based supermarket group is expected to make an announcement within weeks after last month ousting Dalton Philips, who failed to revive its fortunes. Potts was Tesco’s longest [...]
Apple faces poaching suit February 19, 2015 Electric car battery maker A123 Systems has launched legal action against Apple, alleging that it had poached its engineers to build a large-scale battery division. Analysts believe Apple is looking to design an electric car of its own. A123 is a pioneering industrial lithium-ion battery maker, backed by a $249m (£169m) US federal grant. It [...]
Grocery price inflation hits four-year low February 19, 2015 PRICE inflation for everyday items across Europe has hit its lowest level since 2010 after falling for a fifth quarter in a row, according to figures released today. Sales of fast moving consumer goods (FMCG), which includes everything from toiletries to fizzy drinks, rose 3.1 per cent year-on-year in the fourth quarter of 2014. This [...]
Can you believe it? Rexam share price jumps as board recommends takeover offer by Ball Corp February 19, 2015 The board of Rexam – supplier of quality can to the like of Red Bull and Carlsberg – has recommended a takeover by US rival Ball Corp. The offer comprises 407p in cash and 0.04568 of a new share in Ball, representing in aggregate 628p per Rexam ordinary share. It's thought to value Rexam at [...]
Centrica share price dives as it cuts dividend by 30pc after £1bn net loss February 19, 2015 The figures Share in Centrica fell eight per cent after it was left reeling from the double hit of a warm year and falling oil prices. The company has been forced to write down the value of its oil and gas assets and has decided to cut its dividend by 30 per cent, while making [...]
Bigger pay packets give pound a lift as sterling hits seven-year high against the euro February 18, 2015 Sterling soared to a seven-year high against the euro yesterday, pushed up by record jobs figures and rising wages, with some investors expecting a Bank of England rate hike to come sooner than had been expected. The UK’s employment level jumped to an equal record high of 73.2 per cent at the end of [...]
Federal Reserve remains wary of interest rate hike February 18, 2015 GOLD, PLATINUM and emerging currencies were buoyed last night after minutes of January’s Federal Reserve meeting revealed the majority of the committee remain wary of hiking rates too soon and hampering growth in the US economy. The minutes revealed the group was less unified on its strategy for when it will eventually raise interest rates [...]
Former Apple boss quits role at Monsoon after two years February 18, 2015 Monsoon chief executive John Browett has quit after two years in the job to pursue other opportunities. The former boss Dixons Retail has had an eventful few years after leaving the electricals giant in 2012 to join Apple as head of retail. However, his stay at Apple’s US headquarters was short-lived and he [...]