Tuesday newspaper round-up: Tesco, Barclays, Phones 4u, China
23rd Sep 2014 07:03
Tesco's crisis shows no sign of stopping, after the retail giant was forced to call in investigators and suspend four senior executives as it discovered its profits had been inflated by £250m, The Guardian reported on Tuesday. Over £2bn was wiped off the group's value on during Monday trading after
Read moreBarclays to invest £1bn in green bonds
22nd Sep 2014 13:40
Barclays plans to invest £1bn in green bonds in a move that will treble its involvement in financing environmentally-friendly schemes. Barclays said it will buy the bonds by November next year from issuers such as the European Investment Bank, World Bank, International Finance Corporation and the Eu
Read moreFirstgroup comments on McFarlane's departure to Barclays
12th Sep 2014 12:33
Firstgroup's chairman, John McFarlane, has announced that he plans to step down from the role in July next year as part of his move to Barclays. The group said it had begun the process of finding a "strong replacement". Shares in Firstgroup had fallen 0.61% to 122.45p by 12:44.
Read moreBarclays appoints Aviva's McFarlane as Chairman - UPDATE
12th Sep 2014 09:22
Barclays has appointed John McFarlane as chairman to replace David Walker, who will step down following the bank’s annual general meeting in 2015. McFarlane, who is currently chairman of Aviva and FirstGroup, will take on the role on 1 January. He will step down from Aviva and FirstGroup in A
Read moreLondon open: UK stocks bounce off three-week low but gains limited
12th Sep 2014 08:51
UK stocks edged higher on Friday but choppy trading continued with investors concerned about the potential impact from a 'yes' vote on Scottish independence next week. Supermarket stocks were among the best performers as Morrisons extended gains made the previous session, while banks advanced, thoug
Read moreFTSE 100 movers: Kingfisher leads risers after seeing improved demand for DIY products
10th Sep 2014 15:18
B&Q and Brico Depot owner Kingfisher saw shares jump after replacing its chief executive as it reported flat profits due to currency volatility, although it said the buoyant UK housing market had lifted demand for DIY products. Housebuilder Barratt Developments was higher after it pledged to return
Read moreBarclays poaches BofA's Casavechia for M&A arm
10th Sep 2014 11:30
Barclays has strengthened its mergers and acquisitions (M&A) team in the US, building on its recent success in that space. In what may be a good sign for Barclays, it has managed to poach Richard Casavechia from rival Bank of America Merrill Lynch to lead its M&A structuring arm, according to an int
Read moreLondon midday: Stocks inch lower on Scottish vote concerns
9th Sep 2014 11:45
UK stocks fell for the third straight day on Tuesday as uncertainty caused by the upcoming Scottish referendum and geopolitcal tensions in eastern Europe dampened risk appetite. The FTSE 100 was 0.1% lower at 6,829 by midday, though it traded within a narrow range for most of the morning. Equity ma
Read moreLondon open: Subdued start as markets await UK data
9th Sep 2014 08:39
UK stocks were trading slightly lower on Tuesday morning as investors prepared for a raft of economic data on the British economy. The FTSE 100 was 0.1% lower at 6,830 in early deals, trading in the red for the third straight day. Stocks came under pressure on Monday on the back of growing support
Read moreLondon open: Stocks fall as investors turn cautious ahead of US non-farm payrolls
5th Sep 2014 08:28
The FTSE 100 was trading 0.1% lower at 6,869 in early trading. The Footsie edged higher on Thursday to close at 6,877.97, its highest finish since 14 May when it settled at 6,878.49. Nevertheless, during the session the index reached a high of 6,904.86, its highest intraday level since the record 6
Read moreFTSE 100 movers: Ashtead leads after raising full-year estimates
3rd Sep 2014 15:59
Equipment rental group Ashtead Group was a top riser after saying it expects to beat full-year estimates after profits jumped by a third to a record high in its first quarter. Results were supported by strong revenue growth and improving margins. Barclays gained after selling its Spanish operations
Read moreLondon close: FTSE closes slightly higher after construction, US data
2nd Sep 2014 17:11
- FTSE closes up 3.86 at 6,829.17 - Construction PMI better than expected - US data impresses techMARK 2,859.07 +0.02% FTSE 100 6,829.17 +0.06% FTSE 250 15,965.43 +0.05% The FTSE ended Tuesday's session with a modest rise, as investors weighed better-than-expected construction data and looked ahea
Read moreBroker tips: Tesco, Barclays, Weir
2nd Sep 2014 13:21
Santander has downgraded its recommendation for Tesco from 'buy' to 'hold' in the aftermath of last week's profit warning and dividend cut. "We continue to believe that there is real deep value in Tesco on a longer term basis, but for the next six months we see the shares as dead money at best." T
Read moreLloyds: The most complained about bank in Britain
2nd Sep 2014 13:20
Figures released on Tuesday showed that Lloyds was the most complained about bank in the first half of 2014. The financial ombudsman, the authority which is in charge of settling disputes between lenders and their customers, received just over 190,000 complaints between 1 January and 30 June, with
Read moreBarclays' Spanish disposal a "welcome positive", says Deutsche Bank
2nd Sep 2014 11:35
The agreement to dispose part of Barclays' Spanish operations to Caixabank is a "modest but welcome positive", according to Deutsche Bank which retained a 'buy' rating for the UK bank on Tuesday. The retail banking, wealth and investment management, and corporate banking businesses in Spain will be
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