Sainsbury’s, Tesco, Asda and Morrisons: Supermarket petrol price wars to intensify as oil rout deepens January 13, 2016 The supermarket petrol price war is set to intensify, as the "lower for much longer" mantra sweeps through global oil markets. Oil has fallen around 15 per cent since all big four supermarkets – Sainsbury's, Tesco, Asda and Morrisons – slashed diesel prices to below £1 earlier this month. A Morrisons spokesperson said: “If oil prices continue to fall [...]
Recruiter Hays share price falls after fee income grows in quarter ended 31 December 2015, although mining market caused a slowdown in Asia Pacific January 13, 2016 Recruiter Hays announced today that its net fees grew by seven per cent overall on a like-for-like basis for the quarter ending 31 December 2015. In a trading update about its second quarter performance ahead of its interim results in February, Hays revealed that market conditions had been slightly challenging in Asia Pacific and the [...]
Twitter share price falls to all-time low again – this time tumbling under $19 January 13, 2016 Twitter shares fell to earth with all the speed and elegance of a sparrow hitting a window, tumbling under $19 per share for the first time to fresh all-time lows. Stock plummeted to an intraday low of $18.57 shedding more than five per cent and taking it to the lowest it has ever traded at. The social network has been heading [...]
Fund manager Neil Woodford’s Patient Capital Trust mulls raising more money January 13, 2016 Star fund manager Neil Woodford's solo venture, Woodford Patient Capital Trust, has announced it's considering raising more money. "With the current market conditions in mind, the board … is currently looking at ways it can raise additional capital in the year ahead and will consult with, and gauge interest from, investors," the company said in a statement to the [...]
Stephanie Flanders: Bright spots for investors in 2016 will be in high-yield corporate bonds and UK stocks January 13, 2016 UK stocks and high-yield corporate bonds could become more popular this year as investors look for a return amid near-record low government bond yields and turbulent stock markets. Big swings in stock markets are likely continue throughout the year until question marks over global economic growth and China are resolved, said Stephanie Flanders, chief market [...]
Competition and Markets Authority launches market study into the legal services sector to examine concerns about affordability and standard of services January 13, 2016 The Competition and Markets Authority (CMA) today announced that it had launched a market study into the legal services sector. The study will examine concerns relating to affordability and standard of services offered to consumers and small businesses. In particular, the CMA is reviewing how able consumers are to make informed purchasing decisions and whether adequate [...]
Fitch Ratings upbeat on UK housing market for 2016 despite slowdown in growth January 13, 2016 Credit ratings agency Fitch predicts house prices will continue to rise in 17 of the word’s 22 leading markets including the UK this year, buoyed by low mortgage rates, GDP growth and improving employment. However the rate of growth is expected to stay the same or drop in most countries as housing affordability becomes even [...]
New accounting standard will change the way companies treat leases on their balance sheets, but could influence a shift away from sale and leaseback January 13, 2016 A new accounting standard will change the way companies recognise leases on their balance sheets, and could see businesses alter the way they approach property. International Financial Reporting Standard (IFRS) 16 Leases, which was published today by the International Accounting Standards Board (IASB), is due to come into effect from 1 January 2019 and will [...]
Euribor trial: Jury trial date set for six people – two who worked at Deutsche Bank and four who worked at Barclays – accused of manipulating Euribor rate as 4 September 2017 January 13, 2016 The jury trial date for six people alleged of playing a role in the manipulation of the Euro Interbank Offered Rate (Euribor) has today been set to begin on 4 September 2017. Former Deutsche Bank employee Christian Bittar and Achim Kraemer, who is still at that bank, alongside ex-Barclays staff members Colin Bermingham, Carlo Palombo, Philippe Moryoussef and Sisse [...]
Dunelm share price drops as the homeware chain blames the weather for disappointing Christmas sales January 13, 2016 Dunelm's share price has tumbled nearly five per cent after the homeware chain blamed the warm winter weather for disappointing second quarter sales, placing it among the retail losers this Christmas. The family-owned listed company, which has 151 stores selling everything from curtains to sofas, said like-for-like sales slid by 0.8 per cent in the 13 weeks to 2 January after stripping out the impact of [...]