Ferrari moves into the fast lane with US IPO July 23, 2015 Luxury Italian sports car maker Ferrari is set to move into the fast lane after filing for an initial public offering (IPO) on the New York Stock Exchange. Read more: Fiat Chrysler to spin-off Ferrari Its parent company, Fiat Chrysler, didn't say how many shares it plans to sell or at what price however the new [...]
The Financial Conduct Authority is going to help savers by making it easier for them to switch accounts July 23, 2015 The Financial Conduct Authority (FCA), Britain’s financial regulator, has announced plans to introduce new measures to help customers switch cash savings accounts, following a review of competition in the industry. Read more: This chart shows how many current account switchers Barclays, HSBC, Lloyds and NatWest have lost The regulator is proposing new rules which will make [...]
SSE continues to lose lose customers as people move away from “Big Six” energy suppliers July 23, 2015 Energy giant SSE continued to lose customers in the three months to the end of June, as clients continued to switch to smaller providers. The figures The total number of retail electricity and gas customers at SSE fell from 8.58m at the start of the quarter to 8.49m, as clients moved away from the “big six” [...]
Unilever share price jumps after sales beat expectations again July 23, 2015 Unilever's share price jumped this morning after proving its critics wrong as sales beat analyst expectations. The figures Consumer goods giant Unilever once again beat revenue forecasts in the second quarter, with total turnover rising by 2.9 per cent to €14.2bn (£9.93bn). The better than expected results triggered a 2.8 per cent share price rise [...]
Sainsbury’s is issuing £250m-worth of convertible bonds July 23, 2015 Sainsbury's is issuing £250m-worth of convertible bonds as it looks to shore up the group's pension funds, among other corporate interests. The bonds will have no fixed redemption date and can be converted into fully paid new or existing ordinary shares any time before the seven days ahead of the first reset day in [...]
TSB first half profits down 20 per cent as it reaches final stage of Sabadell takeover July 23, 2015 TSB has revealed a double-digit drop in profits for the first half as it enters the final stage of its takeover by Spanish group Banco Sabadell. The figures: The challenger bank said pre-tax profits were down 20.1 per cent to £44m, while statutory profits fell even further – down 44 per cent to £23.2m in [...]
Strongest UK car production in seven years July 22, 2015 UK car makers are racing ahead this year, with sales to confident Brits steering production to a seven-year high. The number of cars rolling out of British factories jumped 5.4 per cent in June to 143,759, according to figures published this morning by the Society of Motor Manufacturers and Traders (SMMT). So far this year, Britain [...]
Greek PM Alexis Tsipras fights to keep bailout deal on track July 22, 2015 Greece’s banks received a new cash injection from the European Central Bank (ECB) yesterday, ahead of a crucial vote on a third bailout for the country. The ECB’s governing council raised the cap on emergency assistance for the country’s fragile banking system by €900m (£630m), as Greek politicians debated ahead of voting on a second [...]
Interest rates could take off early as policy makers change tone: Will 2015 see the first hike since 2007? July 22, 2015 In April this year, Mark Carney became the first Bank of England governor to see deflation in Britain since Lord Cameron Fromanteel Cobbold experienced a bout of falling prices in 1960. But despite inflation undershooting its two per cent target by such a wide margin, Carney is preparing markets for a rate hike this [...]
Cost of London office space set to soar amid supply shortages July 22, 2015 Office space is in short supply, putting upward pressure on prices, a new survey of property surveyors reveals today. In central London, 60 per cent more surveyors are seeing a rise rather than fall in demand across all areas, the research undertaken by the Royal Institution of Chartered Surveyors (Rics) said. As a [...]