Can you believe it? Rexam share price jumps as board recommends takeover offer by Ball Corp February 19, 2015 The board of Rexam – supplier of quality can to the like of Red Bull and Carlsberg – has recommended a takeover by US rival Ball Corp. The offer comprises 407p in cash and 0.04568 of a new share in Ball, representing in aggregate 628p per Rexam ordinary share. It's thought to value Rexam at [...]
Centrica share price dives as it cuts dividend by 30pc after £1bn net loss February 19, 2015 The figures Share in Centrica fell eight per cent after it was left reeling from the double hit of a warm year and falling oil prices. The company has been forced to write down the value of its oil and gas assets and has decided to cut its dividend by 30 per cent, while making [...]
Bigger pay packets give pound a lift as sterling hits seven-year high against the euro February 18, 2015 Sterling soared to a seven-year high against the euro yesterday, pushed up by record jobs figures and rising wages, with some investors expecting a Bank of England rate hike to come sooner than had been expected. The UK’s employment level jumped to an equal record high of 73.2 per cent at the end of [...]
Federal Reserve remains wary of interest rate hike February 18, 2015 GOLD, PLATINUM and emerging currencies were buoyed last night after minutes of January’s Federal Reserve meeting revealed the majority of the committee remain wary of hiking rates too soon and hampering growth in the US economy. The minutes revealed the group was less unified on its strategy for when it will eventually raise interest rates [...]
Former Apple boss quits role at Monsoon after two years February 18, 2015 Monsoon chief executive John Browett has quit after two years in the job to pursue other opportunities. The former boss Dixons Retail has had an eventful few years after leaving the electricals giant in 2012 to join Apple as head of retail. However, his stay at Apple’s US headquarters was short-lived and he [...]
Federal Reserve cautious of raising interest rates against backdrop of economic growth February 18, 2015 The Federal Reserve’s policy committee reaffirmed its cautious approach to raising interest rates after voting in unison against the measure in January. Minutes from the January meeting reveal that the majority of the committee were wary of hiking rates too soon and hampering growth in the US economy. However, the group was less unified [...]
Sterling hits new seven-year high against Euro following hints of interest rate hike February 18, 2015 The UK’s pound jumped more than one per cent against the euro today to €1.36, reaching its strongest level since January 2008 after the Bank of England hinted it could lower interest rates in the next few months. The seven-year high for sterling against the eurozone currency came after minutes from the Bank [...]
Tesco investors non-plussed by John Allan as chairman – he’s no Archie Norman say analysts February 18, 2015 Something to tick off Dave Lewis’ Tesco recovery to-do list: – appointing a new chairman. The milestone was finally passed after a near four-month search with the naming of Dixons Carphone’s John Allan as Richard Broadbent’s successor. What’s that done to Tesco shares? Not much. They edged up slightly in early trading and are [...]
Chinese New Year: How the goat could bring some prosperity to China’s struggling economy February 18, 2015 The year of the horse didn't work out too well for China. Growth slowed to its lowest point in two decades, while an over-investment in construction has resulted in too much property relative to demand. The country's leaders have attempted to spur growth on again, with the People's Bank of China cutting interest [...]
Bank of England minutes: MPC unanimously voted to hold interest rates February 18, 2015 The Bank of England's monetary policy committee (MPC) voted unanimously to hold the interest rate at 0.5 per cent when it met last, despite hints it could be lowered in the next few months. Minutes of the MPC's meeting in early February showed the committee's hawks – Martin Weale and Ian McCafferty, who have both [...]