Mark Carney voices concern about Greek crisis in Bank of England Financial Stability Report July 1, 2015 The Bank of England was unable to give a stable outlook for the UK’s financial stability due to the ongoing Greek crisis, in its financial stability report today, saying the risks in relation to Greece and its financial needs “were particularly acute”. Mark Carney, the Bank's governor, warned the outlook for financial stability has worsened, [...]
Russia freezes gas supplies to Ukraine July 1, 2015 Russian gas company Gazprom announced today that it has stopped all natural gas supplies to Ukraine, after a bid to hash out a quarterly price agreement between the two countries fell through. "Ukraine did not pay for July gas supplies," Gazprom said in a statement. "Gasprom halted gas supplies to Ukraine from 10am (7.00am GMT) [...]
Sophos share price jumps in first day of trading July 1, 2015 Shares in cyber security giant Sophos closed above its initial public offering price during its first day of unconditional trading. Shares in the Abingdon-based firm ended the day up 3.4 per cent to 242p per share at the close in London. Last week it said it would float the shares at 225p per share, which would enable it [...]
Euro leaps as reports suggest Alexis Tsipras may be ready to accept creditors’ conditions July 1, 2015 The euro leapt 0.25 per cent to 0.71139 against the pound, reversing earlier gains after reports suggested Alexis Tsipras is ready to accept bailout conditions set by Greece's creditors as Eurozone leaders prepare to discuss the prospect of providing the country with a third bailout later today. Read more: Every question you have on Greece [...]
UK manufacturing sector growth slumps to a two-year low July 1, 2015 The UK manufacturing sector grew at its slowest pace in more than two years, partly due to a strong pound strangling European demand for exports. The Markit/CIPS manufacturing purchasing managers' index (PMI) fell to 51.4 in June, the lowest since April 2013, and from a downwardly revised figure of 51.9 a month earlier. However, the [...]
European markets make first gains in days following Greek default July 1, 2015 Equities investors across Europe threw caution to the wind today, as markets made their first tentative gains in days following the standoff over Greek debt. Read more: What happens next? Every question you have on Greece answered The FTSE 100 was up 0.5 per cent in early trading this morning, while Germany's Dax rose 0.6 [...]
Businesses urge the government not to delay after Airports Commission report’s recommendation to build a third runway at Heathrow airport July 1, 2015 This morning a report from Sir Howard Davies' Airports Commission recommended the building of a third runway at Heathrow Airport, saying it could provide £147bn of economic growth and 70,000 jobs by 2050. The report has been a long time coming: former London School of Economics chief Davies was appointed three years ago to lead [...]
Greene King toasts record revenue as retail growth outperforms market July 1, 2015 The figures Pub group Greene King enjoyed record revenue of £1.3bn in the year to the end of March, yet investors were warned not get too carried away as profit before tax fell 2.7 per cent to £168.5m. Read more: Popped corks as Greene King-Spirit pub partnership gets green light The FTSE 250-listed company's retail revenue [...]
Greek default: What happens next? Will the referendum lead to a Grexit? What if Greeks vote “no”? All your questions answered July 1, 2015 Last night the inevitable happened and, despite attempts by the country's leaders to persuade the Eurozone to provide it with a third bailout package, Greece failed to stump up the €1.5bn (£1.1bn) it owed the International Monetary Fund (IMF). On Sunday, the country will hold a referendum, asking its people whether they are prepared to [...]
Foreign buyers push City into deals boom: Biggest haul of British M&A activity since before financial crisis June 30, 2015 Britain has experienced the biggest boom in M&A since the financial crisis thanks to a rush of overseas buyers, according to figures out today. Weaker sterling, low interest rates and renewed corporate confidence have sparked acquisitions of everything from oil companies to tin can makers since the start of the year. The total [...]