Charles Stanley’s £6m swing into the red June 18, 2015 Wealth management firm Charles Stanley started the arduous task of trying to turn around the business yesterday after revealing a £6m full year loss. The company, which traces its roots back about 200 years, saw a £6.1m profit last year evaporate to a £6.1m loss for the year ending March 2015, due to higher staff [...]
Dragon Oil shareholders breathing fire over £3.7bn ENOC takeover bid June 18, 2015 Dragon Oil was at the centre of a shareholder showdown yesterday, over whether to accept a £3.7bn takeover offer from Emirates National Oil Company (ENOC). But LGM Investments told Morning Wire that it disagreed with Baillie Gifford’s plans to reject the improved 750p per share bid for the Turkmenistan-focused oil producer. “We [...]
William Hill’s finance chief Neil Cooper trades in horseracing for housebuilding at Barratt Developments June 18, 2015 Bookmaker William Hill yesterday said that its group finance director Neil Cooper is leaving after five years to join Barratt Developments. Cooper is going back to his housebuilding roots, having previously held the role of finance director at Bovis Homes before joining William Hill. His contract has a 12 month notice period, but his actual [...]
Sirius Minerals share price closes down 13.4 per cent on York Potash mine planning report June 18, 2015 Shares in Aim-listed Sirius Minerals closed down 13.4 per cent to 18.62 pence per share this afternoon, after a disappointing planning report on its York Potash mine application. Planning officers at the North York Moors National Park Authority said that the application has "a clear and fundamental conflict with both local and national policies". Sirius [...]
Dragon Oil share price dips slightly as shareholder Baillie Gifford unimpressed by £3.7bn takeover off from Emirates National Oil Company June 18, 2015 Dragon Oil's largest minority shareholder Baillie Gifford isn't impressed by Emirates National Oil Company's (ENOC) £3.7bn takeover offer for the oil explorer. The Edinburgh-based asset manager, which owns a 7.2 per cent stake in the company, said the offer "materially undervalues the company's strong growth potential and encourage shareholders to reflect on the growth infrastructure that is presently being [...]
Aldi fined over price-fixing in Germany June 18, 2015 Aldi is among the retailers fined by Germany's competition authority over price fixing. Read more: Bargain Booze is playing Aldi at its own game The discounter is one of seven food retailers and four producers which have been fined €151.6m (£108.9m) over price fixing on "some products". Andreas Mundt, the president of Germany's cartel office, [...]
Fitbit share price opens 55 per cent higher on stock market debut June 18, 2015 Shares in fitness tracking technology maker Fitbit opened 55 per cent higher at $30.40 as it launched its initial public offering today. The company made its debut on the New York Stock Exchange this morning at $20 per share under the ticket FIT, raising $732m. It is now valued at more than $4.1bn. You can [...]
E.on confirms closure of Killingholme power station June 18, 2015 Energy giant E.on will close its Killingholme gas-fired power station in North Lincolnshire, saying market conditions are too challenging to continue operations. The decision follows a review that was prompted after a move in March to stop “normal” generation at the site, which meant releasing Killingholme's 900MW of Transmission Entry Capacity. National Grid [...]
MRSA superbug found in pork sold by Sainsbury’s, Tesco, Asda and Co-operative June 18, 2015 Pork sold by four major UK supermarkets has tested positive for MRSA CC398 – a variant of the superbug, which can cause skin disorders and serious infections in humans. Products from Sainsbury's, Tesco, the Co-operative and Asda all tested positive for the bacteria during an investigation carried out by The Guardian. Read more: Sainsbury's, [...]
Britain gets its first new private bank Hampden & Co in 30 years June 18, 2015 Hampden & Co will become the first new private bank to grace Britain's high streets in three decades when it opens its doors today. The private bank, based in Edinburgh and London, got the regulatory green light earlier this month after raising £50m in capital from 250 shareholders. It was founded in 2010 by Ray Entwistle, [...]