Vodafone upgraded to “outperform” by Australian bank Macquarie October 19, 2015 Looks like Vodafone is turning a corner. At least according to Australian bank Macquarie, which has upgraded the British telecoms giant from “neutral” to “outperform”, suggesting a 235p price target. This will come as welcome news for Vodafone’s shareholders, as stocks have fallen 3.4 per cent in the year to date, with the company facing [...]
The US economy is losing momentum, according to businesses October 19, 2015 The US economy has taken its foot off the gas and is headed for a slowdown in the final three months of the year, new survey data reveal today. The sales managers’ index compiled by World Economics slid to a score of 55.6 in October from September’s 57.9. While the score is above the 50 [...]
Steelmaker Caparo set to go into administration, with the loss of 1,800 jobs October 19, 2015 Steelmaker Caparo Industries has gone into administration, PWC has confirmed, as the crisis in the UK's steel sector deepens. Caparo is set to go into administration with the loss of around 1,700 jobs. The news follows the closure of the UK's second largest steelmaker, SSI steelworks in Redcar, which was announced this month. The liquidation will lead to over 2,200 [...]
London property prices: Global firms drive demand for prime flats in the capital – but at a bargain October 19, 2015 Global multinationals are feeling increasingly plucky about the economic outlook and their future assignments, which is helping to drive demand for prime residential accommodation in the world’s gateway cities such as London and Hong Kong. However, Knight Frank’s latest research shows they are becoming more price conscious – with their employees being encouraged to seek [...]
Reiss to ramp up expansion overseas after doubling full-year profits October 19, 2015 Family-owned fashion retailer Reiss has said it plans to ramp up expansion overseas next year by adding 40 new stores, after it revealed record sales and profits. The upmarket high street brand, a favourite with royals and celebrities including the Duchess of Cambridge and Olivia Palermo, said strong growth through its website and existing stores help drive a [...]
Standard & Poor’s downgrades rating on Greek bank Piraeus’ debt October 19, 2015 It's not nice to start the week on a downer, but that's what's happened at Greek bank Piraeus, which has had its debt and credit ratings downgraded to a "D" default rating by Standard & Poor's. Last Thursday the Greek-based bank announced it was offering to exchange around €16.2m (£11.8m) of Tier One debt, €211.2m of Tier [...]
London mayor Boris Johnson joins battle to save the capital’s night-time economy October 19, 2015 London mayor Boris Johnson has joined the battle to save the city's night-time economy. Johnson has announced a host of new measures in the wake of a new report, entitled London's Grassroots Music Venues Rescue Plan, which found the number of grassroots music venues has fallen 35 per cent since 2007. This ramps up fears [...]
Tesco Now trademarked: Is one-hour delivery on its way? October 19, 2015 Tesco has filed a trade mark for the name Tesco Now, fuelling speculation that it's considering offering customers deliveries within the hour. Filed on 29 September and spotted by the Grocer, the trade mark covers five different food areas and the delivery of goods. The move follows the introduction of Amazon's Prime Now service, which can [...]
Commodity crunch to hit UK dividend growth next year October 19, 2015 The commodity crunch is set to stifle dividend-growth in London-listed companies next year. Total dividend growth is expected to slow three per cent to £89.8bn in 2016, way below a 6.8 per cent projected increase to £87.2bn this year, according to a report by Capita Asset Services. "The concentration of global mining firms listed on the UK stock exchange [...]
Mining companies take the FTSE 100 lower October 19, 2015 The FTSE 100 has turned negative, led by mining companies, including Anglo American which was four per cent down at 9:50, Fresnillo which was three per cent lower and Glencore which was trading 2.7 per cent down. Chinese gross domestic product figures released today fed further into fears of a global slowdown, pushing mining companies share price down. Read more: China's third [...]