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April 16, 2015

In the papers: Adultery web site Ashley Madison plans London IPO

The Times


Mario Draghi pledges to stick with Eurozone QE: Mario Draghi, President of the European Central Bank, has rejected scaling back the Eurozone’s quantitative easing programme in response to a sudden economic pick-up, as he fended off concerns about the side-effects of money printing and a feminist protestor.


Africa expert is Old Mutual choice: The boss of Old Mutual is to resign after seven years in a move that could pave the way for a strategic rethink at the Anglo-South African financials group.


Jupiter lures £872 million net fund investment: Investors poured a net £872 million into Jupiter’s investment funds helping assets under management at the FTSE 250-listed group swell to a total of almost £35 billion.


Abbott ditches tax cut pledge after price slump hits exports: The Australian Prime Minister has withdrawn a promised cut in taxes for business after disclosing that the plunging price for Australia’s iron ore exports has damaged forecast tax revenues.


Profits bolster Bank of America: Bank of America became the second big American lender in as many days to report better-than-expected profits amid further signs that Wall Street may be putting the worst of the financial crisis behind it.


Mine under the Moors clears one more hurdle: The prospect of a vast potash mine stretching beneath the North York Moors and the North Sea moved a step closer after council planners gave it a warm reception.Oil jumps on signs of higher demand: The oil price rose by more than a dollar after a leading energy think-tank lifted its forecast for demand this year and new data from the US showed stockpiles growing less sharply than expected.Woolworths’ Anzac campaign backfires: Australia’s largest supermarket chain was in the midst of a public relations inferno after its attempts to capitalise on the forthcoming centenary of the First World War’s Gallipoli campaign drew the ire of the Australian government and prompted a vicious blowback on social media.Prices rise as fewer houses go on market: A chronic lack of houses coming on to the market is causing prices to creep up across the country once again.The IndependentChildren’s Investment Fund Foundation charity hits US$4.4 billion after strong year: A charity set up by the billionaire hedge fund manager Sir Chris Hohn and his former wife Jamie Cooper-Hohn saw the value of assets under its control swell to US$4.4 billion (£3 billion) last year.Rothschild bachelor pad townhouse up for sale in New York for US$17.5 million: The British-born banker Nat Rothschild has put his New York City bachelor pad on the market for US$17.5 million, fifteen years after he bought it.The Daily TelegraphSainsbury’s to convert supermarkets into non-food space: J Sainsbury is planning to convert shop space equivalent to almost 40 supermarkets from selling food into non-food as it tries to fight back against a fall in grocery sales.IMF: UK will fail to balance the books by 2020: The next government will fail to balance the books before the end of the decade, according to the International Monetary Fund, which said “uncertainties” surrounding next month’s general election implied that austerity would be less severe than currently forecast.Greece downgraded further into ‘junk’ as black hole in public finances widens: Greece’s sovereign debt rating has been slashed further into “junk” territory as the true extent of the country’s financial woes were laid bare on Wednesday.Adultery web site Ashley Madison plans London IPO: Ashley Madison, the website for people seeking extramarital affairs, plans to float in London this year, five years after it failed to woo investors in Toronto.London’s businesses back Heathrow for new runway over Gatwick: Expanding Heathrow airport rather than Gatwick has won the overwhelming support of London’s businesses.Investment firm moves clients’ money out of UK on coalition fears: A firm that manages savers’ ISA money has switched some of its assets from Britain to other parts of the world including Europe because of fears of political instability over the general election.FTSE 100 rises through 7,100: Britain’s index of leading shares rose through 7,100 for the first time on Wednesday to touch a fresh record.China is no longer the biggest holder of US debt: Japan has overtaken China as the largest foreign holder of US debt, the Treasury Department has revealed.Segway bought by Chinese rival Ninebot: Segway, the inventor of the two-wheeled scooter once hailed as the future of personal transportation, has been bought by a Chinese company it tried to sue last year.Japan’s huge debt pile just got scarier: Japan’s debt pile will grow out of control unless policymakers take steps to reform the country’s tax system and address its shrinking labour force, the Organisation for Economic Co-operation and Development has warned.The Questor Column: Tracsis a buy after solid first half. JD Sports shares look like a bargain.The Guardian Banks offer rewards and cut charges in battle for current accounts: The battle for current-account customers’ business is heating up as two major providers have unveiled moves to make their deals more attractive.Hedge fund invests in healthcare firm criticised for running of hospital: One of Britain’s most aggressive hedge funds has bought a large stake in Circle Holdings, the healthcare company that has pulled out of running the NHS’s only private hospital.Admiral, Direct Line and Esure down as insurance premiums slip: Motor insurers are missing out on the market rally after a report showing rates slipping back in the first quarter.Google faces antitrust action from EU competition watchdog: The European Union has accused Google of cheating competitors by distorting internet search results in favour of its own shopping service as it laid formal charges against the US technology company.Daily MailCo-operative boss Allan Leighton a ‘dictator’, say livid old guard: The new chairman of the Co-op has been accused of running a ‘dictatorship’ and ‘betraying’ members after blocking several candidates from applying to its new-look board.Chinese output hits six-year low as world’s second-biggest economy continues to cool off: China is growing at the slowest rate for six years as the world’s second-biggest economy continues to cool, official figures showed yesterday.IMF warns global economy faces growing risks once again, eight years after the last crisis struck: The International Monetary Fund used its twice-yearly Global Financial Stability Report to issue a series of warnings about fragility around the world amid ‘a moderate and uneven global economic recovery’.Daily ExpressBarclays launches cash back bank account - but there’s a catch: Barclays is to offer cash back to bank customers who sign up to its new rewards scheme, but the service doesn’t come for free.Next boss gives up bonus to pay for shop workers’ salary rise: The boss of retail giant Next has agreed to give up his bonus so that staff working on the shop floor can benefit from a 5% pay rise.The Scottish HeraldNucleus defies its bigger rivals with further solid growth: Nucleus, the Edinburgh-based wrap platform which challenges the big insurers, has reported further strong growth on the back of reforms to financial advice and pensions.Muir Group on course for record year: House builder and property developer the J W Muir Group is on course for a record year with turnover expected to top £100 million and profits also tipped to grow.Tactics work for Remy as Bruichladdich sales nearly double: Bruichladdich, the Islay distillery, has seen a near doubling of sales as owner Remy Cointreau saw organic revenue edge marginally up in its latest financial year.Arran to open new bar in Ayrshire black spot: Arran Brewery is to open a high-class bar in the Ayrshire unemployment black spot of Kilbirnie.Premier Hydroponics moves to West Lothian unit: Premier Hydroponics has opened a new warehouse in East Mains Industrial Estate, West Lothian.Omega chairman steadies investor nerves: Shares in Omega, the Clackmannanshire-based medical diagnostics company, staged a welcome rally as the company confirmed an expected rise in profits and progress with its key new product.The ScotsmanJD Sports sees profits surge: Strong demand for trainers helped retailer JD Sports Fashion achieve record annual results despite its outdoor business – which includes Scottish chain Tiso – being hit by mild autumn weather.BNY Mellon fined £126 million for failing to protect assets: Bank of New York Mellon has been fined £126 million by the City regulator for breaking rules designed to protect more than £1 trillion worth of assets held on behalf of UK-based clients in the event of a Lehman Brothers-style collapse.Trenchcoats help Burberry shrug off sales slowdown: Luxury fashion label Burberry has enjoyed a “robust” second half, boosted by strong demand in American and European markets, but saw a weaker performance in the Far East.Keppie wins contract to design £333 million AECC: Architectural practice Keppie Design has been appointed to design the new £333 million Aberdeen Exhibition and Conference Centre (AECC).Capital gains: Another Fuller Thomson pub: The pubs group behind Edinburgh establishments Holyrood 9A, Red Squirrel and The Southern has taken the wraps off its latest venue in the capital after securing an £850,000 funding package from Bank of Scotland.City A.M.Infidelity site in attempt to woo London bankers: A controversial dating website which helps married people cheat on their spouses has unveiled plans to list in London due to the capital’s “laissez-faire” attitude to extra-marital affairs.Abu Dhabi Investment pockets €750 million for Deutsche Annington: The Abu Dhabi Investment Authority sold off its remaining 14% stake, or 23.5 million shares, in Deutsche Annington for close to €750 million.Households’ heavy debts could hurt the UK’s economic recovery: Britons are still carrying heavy private debts, the International Monetary Fund (IMF) warned yesterday, which could hamper the burgeoning economic recovery.Strong start for producer Iofina: Iodine specialists Iofina reported a “record month of production” in March, bringing total crystalline iodine production in the first quarter of 2015 to 127.9 tonnes.Fresnillo gold output jumps: Shares in mining firm Fresnillo were up by 2.15% after it reported a 62.4% increase in gold production in the three months to 31 March.Nestle in exclusive talks to sell frozen food business to Brakes: Nestle said that it is in exclusive talks to sell its frozen food business Davigel to food service operator Brakes Group as part of its drive to focus on its core operations.Dixons Carphone to sell German phone retail business to Drillisch: Dixons Carphone shares climbed two% after the high street giant announced it will sell its German retail phone chain to telecoms firm Drillisch.



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