In a conclusion to the ongoing investigation at the company regarding unauthorised payments to senior employees Afren (AFR.L) has announced this morning that the Chief Executive Officer Osman Shahenshah and Chief Operating officer Shahid Ullah have been fired as an independent review found that they had received such payments. In addition two other board members Iain Wright and […]
Hays (HAS.L) the recruitment firm announced strong first quarter results with like for like net fees up 9%. The company reported that all regions produced a growth in like for like fees and good performance in the most important of these including the UK, Australia and Germany with all three growing simultaneously for the first […]
Royal Mail Group (RMG.L) today announced news that it has done a deal with the French Competition Authority to settle a case which relates to alleged breaches of anti-trust laws by its French Subsidiary group GLS France before 2010. An investigation will continue into the allegations however any settlement and fine will now be reduced […]
HSBC today ungraded Tesco (TSCO.L) from UNDERWEIGHT to NEUTRAL with a new target price of 195p (up from 175p). Saying that recent bad news now appears to be priced in and that it sees Tescos has an “improving risk profile”. HSBC analysts highlight decisive action by new Chief Executive and recent board appointments. Also saying […]
Dixons Carphone (DC.L), is expecting strong growth off the back of the Phones4U collapse. The company has set out a plan to double the size of its business over the next few year. Chief Executive Sebastian James has been talking to investors about the latest plans for the company and sees the Phones4U exit as […]
Mining giant Rio Tinto (RIO.L) today confirmed the sale of its Mozambique Coal business has been completed. In a deal of an undisclosed amount the Coal business was sold to International Coal Ventures Private Ltd after the sale was approved by regulators and necessary conditions were met. The sale, which was first announced on the […]
Gas exploration firm BG Group (BG.L) was higher today after news that it will receive $350M from the Eygptian government as part of their drive to settle outstanding debts with energy suppliers. In a statement the company said: “While the group has been impacted by the reduction of liquefied natural gas exports from Egypt, the […]
Chief Executive of Bovis Homes (BVS.L) David Ritchie bought 25,000 shares, he now owns slightly more than 146,000. The shares were purchased at a price of 773.50p per share in a deal worth £193,375. This comes after recent news that Financial Officer Jonathan Hill will be leaving to join SAGA, however he is yet to […]
New boss of under pressure supermarket group Tesco (TSCO.L), David Lewis has announced a move designed to boost confidence in the under performing supermarket after recent news of an accounting profit overstatement by £250Million and falling sales. The move dubbed ‘feet on the floor’ will see thousands of head office staff required to work one […]
JD Wetherspoons (JDW.L) the pub chain today announced news that its finance director has resigned in order to join rivals Greene King (GNK.L) replacing their existing finance director who is forced to step down for health reasons after being off work since February due to illness and is undergoing medical treatment. Greene King’s chief executive […]
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Lloyds (LLOY.L) today announced news that it has sold 57 Million shares in TSB at a price of 280p. This amounts to 11.5% of the total shares held and reduces Lloyds stake to 50% holding. Lloyds will still consolidate TSB results within its own and the placing is expected to be completed on the 6th […]
The US treasury today announced a stricter than expected crackdown on tax inversions. Tax inversion deals happen when a company takeover is designed to reduce the amount of tax US companies pay by moving their headquarters to low tax jurisdictions. The UK and irelands lower tax rate has particular significance in the recent takeover of […]
Advanced notice that Blackberry (BBRY) will announce its Q2 earnings on 26/09/2014, will they beat forecasts? Trade Blackberry now at Plus500 (Your Capital is at risk). Get a £20 signup bonus and even more bonuses when you deposit. Other notable earnings announcements: Arrium (ARI.AX) Q4 Earnings – 26/09/2014 Tesco (TSCO.L) Q2 Earnings – Postponed to […]
Tesco (TSCO.L) is again under pressure after news emerged it has overstated its half year profit by a huge £250Million. The news has prompted new Chief Executive to respond by suspending four top executives including its UK managing director and launching an immediate probe into the matter. Chief Executive Dave Lewis, only in the job […]
The worlds biggest IPO is coming soon, Alibabas (BABA) public offering starts trading on 19th September 2014 on NYSE. The biggest tech firm in the world, Alibaba the chinese e-commerce company is already larger than Amazon and Ebay combined. Forget Facebook, this is the IPO of the century! Alibaba will be available as soon as […]
Barclays (BARC.L) have announced the appointment of new Chairman John Mcfarlane who will replace David Walker who is stepping down after the banks AGM in 2015. John Mcfarlane is currently the Chairman of Aviva and Firstgroup and will start the Barclays role in January 2015. Stepping down from his other roles in mid 2015. David […]
Today miner Fresnillo (FRES.L) announced planned proposals to buy out partner Newmont and take full control of their Mexican join venture in the Herradura Corridor at a cost of $450Million. Fresnillo currently owns a 56% stake in the projects with Newmont owning the other 44%. Any deal would mean Fresnillo take full ownership of the Herradura, […]
Asset manager and banking group Investec (INVP.L) has announced this morning that it has completed the sale of its UK mortgage business Kensington for £180Million. The sale also included other Investec mortgage assets which have been purchased by funds managed by Blackstone Tactical Opportunities Partners and TPG Special situations Partners. The company also recently sold […]
Under process of bidding for a new Bank of England note contract, De La Rue (DLAR.L) has been named as the BoEs preferred bidder. Currently De La Rue already prints notes for the Bank of England under a contract awarded in 2003 and due to expire next year. The new contract is set to last […]
The FTSE100 was moving lower this morning after fears persist centred around the situation in Ukraine and continued uncertainty over Scottish Independence. The ceasefire so far in the Ukraine appears to be holding, however there have been reports of some small battles taking place overnight between government forces and pro russian militants. In Scotland recent […]
Traders have been selling the GBP/USD after fear reaches a tipping point on Scottish Independence, there are rumours that if Independence goes ahead GBP/USD will return to a level not seen since the recession, it is expected that the GBP/USD will lose around 10% of its current value. The currency had its worst performance in […]
UK banking has been taking a hit this monday morning, especially RBS (RBS.L) after a downgrade by Credit Suisse and continuing fears over Scottish Independence. Credit Suisse rated RBS as ones of its ‘key underperforms’ in the sector compounding negativity on the stock after RBS’s recent comments that Scottish Independence could see a material impact […]
Hargreaves Lansdown (HL.L) final results for last year showed a performance inline with expectations. They showed Hargreaves Lansdown grew revenue, profits, assets under administration and active client numbers to new record levels. Total assets under administration was up 29% to £46.9Billion, the company also showed increased net revenue up 8% at £291.9Million and operating profit was also […]
Precious metals producer Polymetals (POLY.L) today announced news it plans to “re-prioritise” its focus on projects, this comes after its recent aquisition of a sizable gold deposit in Kazakhstan. The company plans to refocus its capital and management resources on key projects in order to maintain a “prudent” level of leverage. The plan includes a decision […]
Barclays Banks (BARC.L) has announced plans to sell part of its Spanish businesses to spanish bank Caixabank as part of its ongoing asset disposal programme. Barclays plans to sell its retail, corporate and investment management parts of the business in a deal though to be worth around £630Million cash. Barclays will retain its credit and […]
News this morning that property giant British Land (BLND.L) has agreed a lease with Guiness partnership for the remaining space at its Regents Place property. This means the building is now fully let, Guiness partnership – a housing charity – has agreed a 10 year lease for accommodation at the property. Tim Roberts, head of […]
After announcing demerger of key assets, BHP Biliton (BLT.L) in focus, Deutsches bank ups target price to 1500p from 1450p reiterates BUY rating. Investec keeps BUY rating, revises target price upwards to 2205p from 2175p. Multiple brokers revise targets for Cairn Energy (CNE.L)after announcing further costs cuts. Credit Suisse revises downward to 288p keeps OUTPERFORM […]
Property giant British Land (BLND.L) today announced news it has sold its Soho office building at 52 Poland Street for £26Million to Amazon Property. The sale of the 20,500 square feet building deal represents a capital value of nearly £1300 per square foot. Amazon Property, as part of a joint venture, will buy the freehold of […]
Berenburg moves target price from 254p to 261p on Direct Line (DLG.L) group, maintains HOLD rating. St James Place (STJ.L) covered by Credit Suisse, reiterates NEUTRAL rating, moves target price from 785p to 830p. More brokers covering Admiral Group (ADM.L), Canaccord reduces target price to 1220p reiterates SELL rating. Berenburg moves target price to 1168p […]
