After US launch Primark heads for Italy; opening first stores in Milan next year July 10, 2015 Primark is so inspired by its "Primarni" nickname, it's entering the Italian market ahead of schedule, it said today. The fashion brand will open the first of up to three Italian stores in Milan next summer, according to owner Associated British Foods. Shares in the group rose, following a trading update reporting a “modest decline” [...]
Coty lands sweet smelling $12bn Procter & Gamble beauty deal July 9, 2015 In a transaction valued at $12.5bn (£8.1bn), multinational consumer goods company Procter & Gamble (P&G) has agreed to sell 43 of its brands to global beauty products manufacturer Coty. The various brands acquired by Coty include Max Factor, Hugo Boss and Lacoste, and all compete in the hair care, retail cosmetics and fine fragrance sectors. [...]
BT calls for Ofcom inquiry into Sky July 9, 2015 BT has called on industry watchdog Ofcom to expand its Digital Communications Review to tackle Sky's dominance of the pay-television sector. “Sky has benefited from a situation where there’s been very little or weak regulation,” John Petter, chief executive of BT’s consumer division, said in a speech to the Broadcasting Press Guild in London. "Sky [...]
Fashion chain Reiss is exploring a share sale July 9, 2015 Family owned high street fashion chain Reiss, a favourite of the Duchess of Cambridge, is reportedly exploring a share sale which could value the company at as much as £325m. The company's founder David Reiss is exploring bringing in outside investors for the first time since the company was founded in 1971. According to a report by Sky [...]
Cyber security firm NCC’s revenue rise is not reflected in stalling profits July 9, 2015 Cyber security firm NCC has revealed rising revenue in the year ending 31 March. Revenue was up 21 per cent from 2014, to 133.7m. Finance boss Atul Patel, told Morning Wire that this showed “another record year of strong international growth.” The revenue growth did not though prompt a rise in profits at the Manchester-based [...]
July Budget 2015: IFA Hargreaves Lansdown offers 10 tips for investors to navigate new dividend rules carefully July 9, 2015 Yesterday's Budget included a significant shake up of the way dividends are taxed. Instead of the current tax credit, from next April investors will receive a £5,000 allowance after which dividends will be taxed at 7.5 per cent, 32.5 per cent, or 38.1 per cent depending on their income tax band. Isa and pension [...]
Balfour Beatty share price falls as it issues £150m profit warning July 9, 2015 Maybe that takeover rebuttal wasn't such a good idea? Shares in construction giant Balfour Beatty – which this time last year unceremoniously rejected a merger bid from rival Carillion – fell more than five per cent to 216.4p this morning after it admitted pre-tax profits are likely to be hit by "legacy issues" across its [...]
Premier Oil share price up despite falling oil price hitting sales July 9, 2015 The figures Shares in North Sea oil giant Premier Oil were up 1.6 per cent at 139p in early trading, despite a trading update showing falling oil prices and lower production had hit the company hard, with first-half results posted in August expected to show revenues fell 34 per cent to $580m (£377m) in the six months [...]
Honda recalls 4.5m Accords, Civics, CR-Vs, Odysseys, Pilots and Ridgelines over defective Takata airbags July 9, 2015 Honda has recalled a further 4.5 million vehicles fitted with Takata airbags. Vehicles affected include the 2001-2007 Accord, the 2001-2005 Civic, the 2002-2006 CR-V, 2003-2011 Odyssey, the 2003-2008 Pilot and the 2006 Ridgeline. It also affects Acura MDXs, TLs, CLs and Rls between 2002 and 2006. Honda described the recall as “critical”. [...]
Barratt Developments to beat forecasts with 45pc rise in profits July 9, 2015 The figures Housebuilder Barratt Developments is expecting a 45 per cent increase in profits for the year to the end of June, it said in a trading update today. The company is set to beat analysts’ forecasts, with a full-year pre-tax profit up to around £565m, while total forward sales are expected to have risen 29.6 per [...]