Financial News

IWG shares continue to climb on takeover speculation

IWG shares continue to climb on takeover speculation

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Shares in office space provider IWG (LON:IWG) have continued to rise today following the company’s confirmation on Friday evening that it had recently received separate takeover approaches from three firms. Management said that shareholders would be updated about any further developments in due course. At this time, there is no guarantee that any offers will be…

Call-out costs dent Centrica’s first-half earnings

Call-out costs dent Centrica’s first-half earnings

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FTSE 100 power outfit Centrica (LON:CNA) benefited from increased energy demand during the recent cold weather. The weather also had negatives for the firm, however, with call-outs at record levels due to the cold, which will have a knock-on effect in operating costs and profits for the first half of the year. Additionally, poor oil…

Canadian miner Strongbow to list on AIM

Canadian miner Strongbow to list on AIM

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Canadian small-cap miner Strongbow has announced that it intends to float on the AIM market in June of this year. The company will also maintain its Toronto listing in the immediate future. The decision was driven by the changing state of the tin market and the possibility that the South Crofty site in Cornwall, which…

Troubled Mothercare confirms rumours
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Troubled Mothercare confirms rumours

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Mothercare (LON:MTC) has responded to recent media speculation by announcing that it is finalising a restructuring and refinancing package. The details of the schemes will be announced later this week along with the company’s final results for the last year. The firm said that steps to be taken will include a new underwritten equity issue…

Barclays CEO fined £642,000 by UK regulators
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Barclays CEO fined £642,000 by UK regulators

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Jes Staley, Group CEO at Barclays (LON:BARC) has been fined a combined £642,000 by the FCA and PRA for attempting to identify an anonymous whistle-blower in 2016. Two letters had been sent to the Bank’s board raising concerns about a senior colleague and Mr Staley was judged to have acted in breach of regulations in…

Zoopla owner ZPG sold to US private equity firm

Zoopla owner ZPG sold to US private equity firm

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A busy week of buyouts has finished with the management at ZPG (LON:ZPG), formerly known as Zoopla Property Group, recommending an offer from private equity outfit Silver Lake. An all-cash bid of £2.2 billion has been made by the US-based technology specialist for ZPG, which owns not only the eponymous property platform but also PrimeLocation…

Interest Rates kept at 0.5% by Bank of England
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Interest Rates kept at 0.5% by Bank of England

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The Bank of England Monetary Policy Committee has kept interest rates stable at 0.5% for another month. Governor Mark Carney said that weak first quarter output statistics had been a key factor in the decision, but was confident that positive momentum would reassert itself in time. However, the Bank cut its GDP growth forecasts for…

Morrisons delivers ahead of expectations
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Morrisons delivers ahead of expectations

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Morrisons (LON:MRW) beat tough retail industry conditions and analyst forecasts to deliver like-for-like non-fuel sales growth of 3.6% during the 13 weeks to 6th May. However, a major contributor to this improvement was a considerable strengthening of the group’s wholesale arm through a new programme supplying McColl’s outlets. Transaction numbers in the retail operation grew…

Imperial Brands shares rise despite earnings drop
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Imperial Brands shares rise despite earnings drop

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FTSE 100 tobacco giant Imperial Brands (LON:IMB) beat forecasts as it announced its first-half results this morning. While net revenues fell by 5% to £3.5 billion, the company outperformed the wider industry, and volumes in its growth brands were up by 6.3%. Total revenues fell by just 0.1%, partly due to investments in alternative products…

UK retail sector woes continue in April

UK retail sector woes continue in April

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The UK high street has failed to bounce back strongly in April after poor weather kept consumers at home in March. According to the latest British Retail Consortium figures, like-for-like sales are down by 4.2% relative to April last year. Some of this can be linked to the timing of Easter and the volatile weather…