Costa sold to Coca-Cola: Here’s how the City reacted August 31, 2018 Coca-Cola is buying Britain's biggest coffee chain Costa in a deal valued at a whopping £4bn. Following this morning's surprise announcement, City analysts were quick to react. The high price paid, the opportunities for expansion, and the future of Whitbread all came under the microscope. Here's a few of the talking points. A coffee battle [...]
Warm weather adds sunshine to Grafton Group profits despite flat expectations August 22, 2018 Builders’ merchanting business Grafton Group posted a nine per cent revenue rise in the first half of 2018, despite warning that overall conditions in the UK market were set to remain flat for the rest of the year. Revenue climbed to £1.45bn in the six months leading up to the end of June, as the [...]
BHP puts shale behind it as dividend hits record high despite profits missing expectations August 21, 2018 The finance boss of Anglo-Australian mining giant BHP today admitted its US shale assets had been a “terrible investment” for the company as it posted a record final dividend despite missing profit expectations. In July BHP, which also has projects in commodities such as offshore oil, copper and iron ore, announced it would sell its [...]
BP share price slips as firm buys US shale sites from BHP in major oil expansion bid | City A.M. July 27, 2018 BP has bought US shale assets for $10.5bn (£8bn) in a move that will expand Britain’s international oil footprint in onshore basins. In its largest deal in almost two decades, BP has agreed to acquire a swathe of southern US shale oil and gas assets from global miner BHP. The firm said it plans to [...]
Last Week in the City: August rate rise now less likely July 20, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (16 to 20 July 2018). The chances of an interest rate rise at the Bank of England’s August meeting appeared to recede this week after inflation data was more subdued than expected and retail sales data [...]
Testing Tesla: The EV company is as famous for the behaviour of its boss as it is for its silent motors; but what are they like to drive? July 5, 2018 If the scent of lavender and the feel of Lycra on clammy flesh are your kind of thing, you won’t find anywhere better than cycling mecca La Coquillade. Set in the hills of the Petit Luberon, a rosé-growing idyll between Avignon and Aix-en-Provence, this hotel has been created by a Tour de France team owner [...]
Tesla Model S 100D review: Only famous for its unpredictable boss or genuinely good to drive? July 2, 2018 If the scent of lavender and the feel of Lycra on clammy flesh are your kind of thing, you won’t find anywhere better than cycling mecca La Coquillade. Set in the hills of the Petit Luberon, a rosé-growing idyll between Avignon and Aix-en-Provence, this hotel has been created by a Tour de France team owner [...]
Trade war fears spook markets after Trump threatens China with tariffs June 19, 2018 Markets in the US tumbled on Tuesday night after US President Donald Trump’s shock threat to impose a 10 per cent tariff on $200bn (£152bn) of Chinese goods late on Monday. China described the US threats as “extreme pressure and blackmailing” and vowed swift retaliation. The threat of new tariffs and fears of further trade [...]
Costa spin-off could lead to £3bn Whitbread windfall – and cost just £20m April 15, 2018 Whitbread shareholders could snaffle a £3bn windfall if the firm spends just £20m spinning off Costa Coffee – a move one the world’s most famous activist hedge funds is clamouring for. Elliott Advisors has built up a £430m position in Whitbread over the last year. A stock market disclosure late on Friday revealed it is [...]
FTSE 100 closes lower as global markets struggle with trade war fears April 6, 2018 The FTSE closed in the red today, as fears of a trade war continued to take their toll on markets around the world and US jobs data disappointed. The FTSE 100 index was down over 15 points at 7,183.64, coming off a low of 7,163.11 earlier in the day. Data on UK productivity this morning [...]