Peter Hetherington appointed chief executive of online trading firm IG Group December 4, 2015 Online derivatives trader IG Group has appointed Peter Hetherington as its chief executive. Hetherington took on the role of interim chief executive at the company's AGM in October, after Tim Howkins's retirement in July. Before that, he was the company's chief operating officer, and has been a board member since July 2002. “I am delighted to take on the role of [...]
EU plans to cut stock market red tape could be a lifeline for small businesses December 4, 2015 Smaller companies may find raising cash on the stock market easier if EU plans to cut its own red tape come into force – providing a lifeline for cash-strapped startups unable to access bank finance. Companies hoping to list and raise less than €500,000 (£362,000) through issuing shares or bonds will no longer have to [...]
John Lewis hails record-breaking Black Friday week December 4, 2015 John Lewis has reported the best week of trading in its 151-year history, as frenzied demand for the latest wearable technology, toys and televisions over the Black Friday helped the retailer smash last year’s record. The department store group said it racked up £187.7m of sales in the week ending 28 November, which was up [...]
IPO giant Worldpay will start to offer loans to small business using big data December 4, 2015 Worldpay, the card payments processor that recently picked up the crown for the biggest London IPO of the year with a value of £4.8bn, is expanding its US small and medium sized business lending into the UK. The division, known as Worldpay Business Finance, will use its extensive data on its customers to offer them [...]
The UK’s financial services sector paid more than £66bn in taxes last year – PwC and Canada Corporation December 4, 2015 New figures out today show that the financial services sector contributed more than £66bn in taxes last year, amounting to 11 per cent of total government tax receipts. A new report from Canada Corporation and PwC, based on a survey of 48 of the Square Mile’s largest firms, reveals that the financial [...]
Drug maker Pfizer, known for making Viagra, to shut Cambridge office, putting up to 120 jobs at risk December 3, 2015 Drug maker Pfizer has today announced that it is closing one of its research sites in Cambridge. The decision to shut the Neusentis facility at Granta Park, which is part of the company's wider plans to reduce its investment in pain research, puts up to 120 jobs on the line. A statement from the company said: "Scientific research is [...]
Moody’s: US and European tobacco industry poised for rise in operating profits in 2016 December 3, 2015 The US and European tobacco industry will see a rise in operating profits in 2016 despite a drop in cigarette sales, according to the latest forecasts by Moody’s Investors Service. The ratings’ agency predicts a four to five per cent rise in operating profits next year in both the US and Europe, even as cigarette [...]
At the close: FTSE 100 closes down after the European Central Bank is more dovish than expected December 3, 2015 The FTSE 100 index closed lower on Thursday, alongside other European indices, after the European Central Bank's (ECB) measures disappointed markets. The index closed 2.27 per cent down, at 6,275 points, while the German Dax ended 3.58 per cent lower at 10,789 points and France's CAC 40 shut 3.58 per cent down at 4,730 points. The [...]
Market Tech Holdings sees Camden Market empire jump in value to £870m December 3, 2015 Camden Market owner Market Tech Holdings said its sprawling 14-acre north London estate has jumped by 15 per cent in value, in its first set of half-year results since floating on Aim in December last year. The company, which is now eyeing a move to London’s main market, said its total investment and property portfolio [...]
Financial Conduct Authority proposes last year’s insurance premium information should be published on renewal documents December 3, 2015 The Financial Conduct Authority (FCA) published proposals today that would require general insurance providers to include details of last year’s premium on customer’s renewal documents. The proposals are designed to address concerns that some customers might be getting a bad deal by sticking with the same company. “We hope the proposals encourage more people to [...]