|Bid||56.50 x 50000|
|Ask||57.98 x 50000|
|Day's range||56.16 - 56.40|
|52-week range||40.12 - 61.20|
|PE ratio (TTM)||9.59|
|Forward dividend & yield||2.05 (3.44%)|
|1y target est||N/A|
Britain's biggest retail bank is to retain a £2,000 cap on cash bonuses even after being freed from the shackles of partial state ownership last year. Sky News has learnt that Lloyds Banking Group is expected to continue with the limit on cash payouts, nearly a decade after it was imposed by the then-Labour government. The decision, which is provisional and remains subject to change, reflects a desire within Lloyds' boardroom to demonstrate restraint on staff pay against a backdrop of improved financial performance, according to insiders.
Manchester United enjoyed the biggest revenue of any European club in the last financial year after a 32 percent increase propelled them above Real Madrid and Barcelona, UEFA said in an annual report published ...
The Bank of Canada will get the first crack in the coming week at demonstrating whether, as many expect, monetary policy among the world's major economies is set to tighten more in 2018 than in any year since the crisis. Expectations that the BoC will boost interest rates for the third time since July had surged in the run up to the meeting when blowout jobs data and a more positive business outlook added to momentum in the G7-member's economy.
Treasury yields climbed on Friday as underlying U.S. consumer prices rose the most in 11 months in December, bolstering expectations of a pickup in domestic inflation and Federal Reserve interest rate ...
Sky News has learnt that the South African-owned chain is drawing up proposals for a Company Voluntary Arrangement (CVA), a process often used by struggling retailers to restructure financial obligations to creditors. Sources said on Thursday night that New Look's CVA plan was not yet finalised and was only one of a number of options under consideration. If it does go ahead with the store closures, roughly one-tenth of New Look's nearly-600 outlets in Britain would be axed, with sizeable rent reductions sought at many of the remaining shops.
Tesco has enjoyed its best Christmas since 2010, a detail packed with symbolism, as that was its last under Sir Terry Leahy, the chief executive who turned the company into the world's second-largest retailer and whose departure heralded several years of turmoil. Tesco's UK like-for-like sales - the measure the City takes most seriously because it takes no account of store openings or refurbishments and is the best indicator of underlying sales performance - were up by 1.9% during the six weeks to January 6.
M&S has blamed unseasonal autumn weather as it reported a 2.8% fall in like-for-like sales for its clothing and home division over the Christmas quarter. The retailer also said food sales were down, by 0.4%, for the 13 weeks to 30 December. Its figures were released at the same time as rival John Lewis, which reported a 3.1% rise in like-for-like sales for the six weeks to 30 December.
M&S has blamed unseasonal autumn weather as it reported a 2.8% fall in like-for-like sales for its clothing and home division over the Christmas quarter. Its figures were released at the same time as rival John Lewis, which reported a 3.1% rise in like-for-like sales for the six weeks to 30 December. The update comes days after Sky News revealed that the Chinese-owned business was seeking rent reductions at a number of its 59 department stores.
Theo Paphitis has blamed the Government for allowing the UK's beleaguered retail sector to slide "closer and closer towards the precipice". The former Dragons' Den star, and entrepreneur behind high street chains Ryman, Robert Dyas and Boux Avenue, blamed changes to business law as well as the disparity in taxes facing online platforms and bricks-and-mortar retailers. Mr Paphitis made the comments as a slew of trading updates have started to reveal just how challenging Christmas has been for UK stores amid a squeeze on household spending.
New Look, House of Fraser and Debenhams (Frankfurt: D2T.F - news) bonds hit lows on Monday because of financial stress, but the year's first high-yield deal for online property platform Zoopla will test how far concerns around UK consumer names has spread to the market. ZPG, which operates Zoopla, is out with a £200m 5.5-year non-call two senior unsecured note via HSBC and Lloyds and will market the offering in a roadshow running from Tuesday to Thursday. Zoopla's deal was announced against the backdrop of a sell-off in UK high-yield retailers, with New Look's bonds plummeting by up to six points from Friday's close after reports over the weekend that credit insurers have halted the sale of credit insurance on new shipments to its suppliers, while House of Fraser's £175m 2020 FRN lost over nine points on the back of news that it is renegotiating its rents.
House of Fraser (HoF), one of the UK's biggest department store chains, is seeking to slash its rent bill, stoking fears of further casualties on an increasingly embattled high street. Sky News has learnt that HoF has contacted an undisclosed number of the owners of its 59 UK outlets to ask for substantial rent reductions. The chain, which is privately owned by Sanpower, a Chinese conglomerate, is understood to have made the "informal" request in recent weeks, although it was unclear on Friday whether it had been communicated to landlords before or after its Boxing Day sale got underway.
Debenhams (Frankfurt: D2T.F - news) has issued a profit warning and refused to rule out job losses after a weak festive season - its shares falling 24% in response. In a trading statement that was brought forward from next week, the retailer said it had been forced to slash prices to boost flagging sales - describing business as "highly competitive and volatile". The department store chain said like-for-like sales in the 17 weeks to 30 December in its core UK market fell 2.6% overall.
It always looked premature to assume, as some commentators did, that the festive season on the high street was all right simply because Next (Frankfurt: 779551 - news) 's Christmas trading was not as bad as feared. Rumours have been swirling in the City for weeks that Debenhams (Frankfurt: D2T.F - news) is struggling - "the share price at 32p tells you something's wrong", one rival retailer told me just before Christmas - and sure enough, the UK's second-biggest department store chain has issued a profits warning . Debenhams is now guiding the market to expect profits during the current financial year of between £55m-65m.
The UK's top bosses will have made more money in the first three days of 2018 than the typical worker can expect to earn over the entire year. This is despite executive pay falling last year from and average of £5.4m to £4.5m - or from 122 times the average worker's salary to 120 times. Peter Cheese, chief executive of the Chartered Institute of Personnel and Development, said: "The drop in pay in the last year is welcome but will have largely been driven by the Prime Minister's proposed crackdown on boardroom excess.
Debenhams (Frankfurt: D2T.F - news) has issued a profit warning and refused to rule out job losses after a weak festive season - its shares falling over 20% in response. In a trading statement that was brought forward from next week, the retailer said it had been forced to slash prices to boost flagging sales - describing business as "highly competitive and volatile". "We took tactical promotional action to improve our performance which resulted in a stronger six-week Christmas period against tough comparatives, with like-for-like sales up 1.2% in constant currency and digital growth of 15.1%," the statement said.
Next (Frankfurt: 779551 - news) has reported a 1.5% rise in full-price sales over the festive season, beating its own expectations of a dismal Christmas. The fashion and homewares retailer credited colder weather for driving the performance - perhaps giving hope that Christmas has not proved to be the damp squib for the wider sector that some commentators had feared. Marks & Spencer (Frankfurt: 534418 - news) rose by 1.4%.
European stocks moved broadly higher on Wednesday, with chip makers among biggest gainers, mirroring sizable gains for their U.S. counterparts.
Next (Frankfurt: 779551 - news) has reported a 1.5% rise in full price sales over the festive season, beating its own expectations of a dismal Christmas. The fashion and homewares retailer credited colder weather for driving the performance - perhaps giving hope that Christmas has not proved to be the damp squib for the wider sector that some commentators had feared. Its shares surged by 10% when the FTSE 100 opened for trading while Associated British Foods (LSE: ABF.L - news) , which owns Primark, and Marks & Spencer (Frankfurt: 534418 - news) also rose sharply - by 3% in early deals.
British clothing retailer Next (EUREX: NXTJ.EX - news) is much more optimistic about its prospects than it was in January last year when it issued a profit warning, its boss said on Wednesday. "We're a lot more confident than we were at this point last year, which is why we are returning to the (share) buyback," Chief Executive Simon Wolfson told Reuters. It also said it planned to return a further 300 million pounds ($407.9 million) to shareholders in its 2018-19 year by way of share buybacks, subject to market conditions.
Next Plc brought some cheer to U.K. retailers struggling with Brexit-related costs and the rise of online shopping, reporting stronger-than-expected Christmas sales and lifting its profit guidance.
Daisy Ridley and Mark Hamill, seen earlier this month at the European premiere of 'Star Wars: The Last Jedi,' a film that Disney says has surpassed the $1 billion mark
Most U.S. Treasuries were little changed on Friday with many investors and traders out ahead of Monday’s New Year's Day holiday, before a heavy week of data due in the new year. Trading volumes have been ...
Jan.03 -- Next Plc reported stronger-than-expected Christmas sales and lifted its profit guidance. Bloomberg’s Charles Allen has more on "Bloomberg Markets."