Today’s top City headlines: Syriza’s Greek election victory sends euro to 11-year lowComments Off on Today’s top City headlines: Syriza’s Greek election victory sends euro to 11-year low
The euro earlier touched an 11-year low against the dollar and European stock markets were predicted to open around 1% lower, after Syriza took 36% of the vote.
Syriza’s leader Alexis Tsipras has pledged to renegotiate the terms of Greece’s massive international bailout, raising concerns about Greece potentially leaving the euro.
BHS to be bought?
Billionaire Sir Philip Green’s retail empire could be on the verge of a break up, after high street chain British Home Stores received several takeover approaches.
BHS has been struggling to compete with the likes of Primark and last year reported a cash loss of £21 million.
Potential suitors are thought to include Primark as well as private equity groups.
Aer Lingus “considering” increased IAG bid
Ireland’s Aer Lingus has said it is still “considering” an increased takeover bid from British Airways owner International Consolidated Airlines Group (IAG).
IAG’s third bid comprises an all cash offer of €2.50 per share and a cash dividend of €0.05 per share.
StanChart on the hunt for new chief executive
Standard Chartered has hired headhunters to search for a successor to chief executive Peter Sands replacement, according to an FT report.
Sands has come under fire from some of the bank’s major shareholders for not reacting to the Asia-focused lender’s reversal in fortunes quick enough.
More energy bill cuts
SSE has said it will cut bills by 4.1%, but not until the end of April.
There was good news for investors as well as the company said its dividend will go up to at least match the retail price index – a measure of inflation.
Rolls Royce in South Africa deal
Rolls Royce has won a contract worth €100 million to supply power units to Chinese locomotives for South Africa.
Petra Diamonds issues profit alert
Petra Diamonds has said its full year profits will not meet analysts’ average forecast, citing softness in the diamond market.
However, it will pay out its maiden dividend.
Flybe to break even
Budget carrier Flybe said its revenue per passengers fell 3.4% in the fourth quarter, but it will break even on pretax profit for the full year in 2015.
Rightmove and Zoopla face challenge
Almost 4,500 estate agents, including Savills and Knight Frank, are backing a mutually owned, not-for-profit rival property portal called OnTheMarket.
Under the rules of membership, agents can only list their properties on one other portal, meaning they would have to take down their advertisements on either Rightmove or Zoopla.
Additional reporting by Reuters