Luxury boat builder Fairline goes into administration, just two months after being sold by Better Capital December 2, 2015 Luxury boat builder Fairline has well and truly entered choppy waters, as the company has gone into administration. Restructuring firm FRP Advisory revealed today that Geoff Rowley and Alastair Massey of the firm had been appointed joint administrators. The administration announcement comes just two months after the shareholding in Fairline was sold by Better Capital [...]
Morrisons is kicked out of the FTSE 100 after nearly 15 years at the top, along with Meggitt and G4S December 2, 2015 Supermarket chain Morrisons has been kicked out of the elite ranks of the FTSE 100 after nearly 15 years, joining other fallers including Meggitt and G4S. The London Stock Exchange’s quarterly review of the index confirmed that the grocer has fallen to 109th place in the ranking of the UK’s largest companies. Morrisons’ shares closed down 0.2 [...]
Smartphone security software provider Defenx will finally launch on London Stock Exchange’s AIM market tomorrow after £2.1m fundraising last week December 2, 2015 Defenx, the smartphone security software business, is finally set to launch on the London Stock Exchange's junior AIM market after delays this week pushed back its admission. The company raised £2.1m in a new share placing at the end of last week. The 1.4m ordinary shares were priced at 148p, meaning Defenx has 6.1m shares issued [...]
RSM, the accountancy firm formerly known as Baker Tilly, reveals growth in UK revenues of 26 per cent to £292m December 2, 2015 Accountancy firm RSM today announced a growth in UK revenues of 26 per cent to £292m for its year ended 31 March 2015. The figures also showed that the business’s risk assurance service line had grown by 86 per cent to £22m and consulting, which is the firm’s fastest growing offering, by 195 per cent [...]
At the close: FTSE 100 index rises on pharmaceuticals December 2, 2015 The FTSE 100 index closed up last night, buoyed by pharmaceuticals that were given a boost from a Morgan Stanley note supporting AstraZeneca. The UK’s top blue-chip index closed up 0.4 per cent, at 6,420.93 points. Shire led the pack higher, closing 2.35 per cent up at 4,745p per share, while GlaxoSmithKline ended the session [...]
British Land unveils plans for 32-storey City office tower on UBS site December 2, 2015 Plans to replace UBS' London headquarters in the City with a new 32-storey off tower have been unveiled by FTSE 100 developer British Land. The proposed scheme at 2 and 3 Finsbury Avenue Square, which is part of the wider regeneration of Broadgate, would provide around 550,000 sq ft office space across four buildings – the [...]
Winners and losers of this year’s FTSE quarterly reshuffles: Morrison, Worldpay and Hikma Pharmaceuticals December 2, 2015 The FTSE index's last quarterly reshuffle of this year has rolled round, and it could conclude with a bang, as reports suggest embattled high street supermarket Morrison will be given the shove. The other companies being moved to the FTSE 250 index are reportedly security firm G4S and engineering group Meggitt. Worldpay, the payments firm [...]
Sweett Group: Property surveyors admits Middle East bribery in relation to an SFO case into its activities in the United Arab Emirates December 2, 2015 The Serious Fraud Office (SFO) has today revealed that Sweett Group has admitted to a bribery offence. The SFO opened an investigation into the property surveyors in July 2014, regarding its activities in Middle East, particularly the United Arab Emirates (UAE). In Sweett Group’s interim results statement, which was also published today, chief executive Douglas [...]
Telford Homes profit doubles as focus on “affordable” new houses in London areas of Aldgate East and Isle of Dogs pays off December 2, 2015 London-focused housebuilder Telford Homes saw pre-tax profits more than double in the first half, as the supply of new homes in the capital fails to keep up with demand. Chief executive Jon Di-Stefano said it owed its success to Telford's focus on non-prime, or more affordable, areas in the capital such as Stratford where demand for new homes remains [...]
RWE to IPO its renewable, grids and retail units next year amid increasingly testing German energy policy December 2, 2015 RWE, Germany’s second largest utility, has announced plans to hive off its renewables, grids and retail units, in a bid to adapt to the government’s energy policy. The company’s chief executive, Peter Terium, yesterday announced plans to create the separately listed company next year, with 10 per cent of its stock being offered to the [...]