Could a bidding war break out for Lookers? If Square Mile gossips are to be believed, and they do occasionally get it right, three potential suitors are casting their eyes over the car dealership... more
Car dealer Inchcape plans to cut 500 jobs because of tough conditions in markets including Britain, although 2010 profits will top expectations... more
Life insurers were shining again today as bid rumours continued to ignite the sector and Deutsche Bank gave a glowing verdict on its prospects ... more
Legal & General is being overlooked by investors. That’s according to Goldman Sachs, which today restated its buy case for L&G, pushing the life insurer to the top of the Footsie winners board ... more
Thousands of British carmaking jobs are under severe threat as it emerged a Fiat takeover of Vauxhall could lead to the closure of either or both of its Luton and Merseyside factories... more
The Chancellor of the Exchequer’s Budget was cynically seen by some in the City as an old fashioned move to soak the rich in order to dish out more to the poor with an eye on the next General Election.
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City talk of the death of sportswear retailer JJB Sports has been exaggerated. It was business as usual today, the shares trading 1p firmer at 12p despite some speculators having already read the last rites.... more
British car dealer Pendragon Plc said today that it was reviewing its financing structure amid the economic downturn, and was in talks with its lenders to make changes to its loan terms... more
Legal & General was the biggest blue-chip casualty today, losing 3.5p to 41.4p ahead of results tomorrow that are expected to produce a cut in the payout to shareholders.... more
Stock-market bears were continuing to feel the squeeze today as they rushed to cover any remaining open short positions following yesterday’s announcement of a $1 trillion rescue package for America’s banks... more
Car dealer Inchcape was close to setting a record for a distressed rights issue, offering investors new shares at just 6p against last night’s close of 503/4p... more
Motoring: Shares in one of Britain's biggest car dealers were involved in another nasty City prang after Inchcape issued its second major profit warning in less than two months and scrapped the full-year dividend... more
Thousands of jobs in the retail car market are under threat after Inchcape became the first major UK dealer to announce big staff cuts in what is the deepest recession in the modern motor industry... more
Hovis baker Premier Foods came under intense pressure as it was hit by a fresh wave of speculation that it is in danger of breaching its banking covenants ... more
Tonight:
3°c
