British Land swings to a loss as retail troubles hit property values May 15, 2019 British Land became the latest in a string of property giants to reveal a fall in the value of its assets today, swinging to a loss amid turmoil in the retail sector. The FTSE 100 group, which owns developments such as Broadgate campus in the City of London, reported a £300m loss in the 12 months [...]
Britain leads falling European stock markets as US recession risk grows March 25, 2019 European stocks fell today, with Britain's leading the drop, while US equities were volatile as investors weighed up global economic headwinds and recession fears. The US’s S&P 500 was down 0.4 per cent soon after opening at 1.30 pm UK time, but rebounded to rise 0.3 per cent for the day, while the Dow Jones [...]
Vale takes £1bn hit as it sacrifices output for safety after mining disaster January 30, 2019 Brazilian miner Vale said today it will take a £1bn financial hit to improve safety at its operations after the most deadly labour accident in Brazil’s history. Chief executive Fabio Schvartsman said his company will take around 10 per cent of its output offline as it decommissions 10 dams similar to the one that burst [...]
Compass shares near all-time high after strong revenue growth February 7, 2019 Shares in Ftse 100 food services business Compass jumped more than 4 per cent this morning to near an all-time high after a strong trading update. Compass said its organic revenue in the three months to 31 December grew 6.9 per cent which it said was driven by new business wins, good retention rates, a [...]
Net asset value grows at John Laing but profit falls March 3, 2020 Infrastructure company John Laing said today its net asset value (NAV) grew 4.3 per in 2019. The FTSE 250 company said NAV per share was 337p at 31 December, compared to 323p per share on 31 December 2018. NAV grew to £1.6bn from £1.5bn the previous year. Pre-tax profit for the year fell to £100m [...]
US markets follow Europe downwards as China announces retaliation tariffs May 13, 2019 US markets have followed their European counterparts sharply downwards after the bell, following China's announcement of retaliatory tariffs on $60bn worth of US goods in the latest development in the two countries' trade war. Read more: Global markets in tailspin after Trump threatens huge China tariff rise The US’s S&P 500 opened down 1.8 per cent [...]
Rothesay plans £3.5bn takeover of Swiss Re division January 5, 2019 Insurance company Rothesay Life is planning a £3.5bn takeover bid for a unit of Swiss Re, derailing plans to list it on the stock market. Rothesay approached reinsurance firm Swiss Re a few weeks ago about the possibility of buying ReAssure, the company's British closed books division, according to Sky News. The company plans to a make a [...]
Rio Tinto rises as iron output grows two per cent in line with expectations January 18, 2019 Rio Tinto showed its metal this morning as iron shipments increased two per cent in line with the company’s 2018 guidance. Shares in the FTSE 100 miner had risen around one per cent by the early afternoon to 2,937p as the company reported that copper output had rocketed 33 per cent, ahead of expectations. However forecasts [...]
Packaging company Smurfit Kappa posts loss after Venezuelan arm seized by Maduro government February 13, 2019 Packaging company Smurfit Kappa posted heavy losses after its Venezuelan business was seized by President Nicolas Maduro’s regime but boosted profits elsewhere. The company reported pre-tax losses of €404m in 2018 compared with a profit of €576m the previous year – it said the deconsolidation cost €1.3bn but it was seeking compensation for the government’s [...]
Economists warn Theresa May’s departure makes no-deal Brexit more likely May 24, 2019 The departure of Prime Minister Theresa May ramps up the chances of Britain crashing out of the European Union without a deal, economists have warned following the PM’s speech confirming her resignation. Read more: Theresa May to resign as Conservative party leader on 7 June May announced that she would resign from the post on [...]