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Tuesday newspaper round-up: Tax credits, Equiniti, Equity release

Tue, 27th Oct 2015 07:01

(ShareCast News) - George Osborne vowed last night to rein in the power of the Lords after he suffered a humiliating defeat over his plan to cut tax credits by £4bn. The chancellor said that the unprecedented vote, which left his budget policy in limbo, raised constitutional issues about unelected peers that would be "dealt with" by himself and the prime minister. - The TimesEquiniti, the share registrar company that handles dividend payments for most FTSE 100 companies, has attracted enough interest to support its imminent £500m-£600m flotation, despite growing investor indifference to all but the larger share issues. The company's advisers will price the new shares on Tuesday. Bankers expect thiem to be at the lower end of the 165p-200p price range. - The GuardianOlder homeowners withdrew a record total of £5m from their properties each day as an increasing number of retired people used their main asset as a source of income at a time of dismal savings rates. Equity release lending to homeowners over the age of 55, which allows people to use money drawn on their property without having to make monthly repayments or downsize, jumped by £68.3m to £452.6m in the three months between June and September, compared with the previous quarter. - The TimesBritish households are using higher wages to pay off their credit card debts, rather than relying on the plastic for their shopping, in the latest sign that the economy is performing well. At the same time businesses are reducing their reliance on the banks by borrowing directly from investors such as pension funds and insurance companies through the capital markets. - The Daily TelegraphThe US Navy early on Tuesday conducted freedom of navigation operations in the South China Sea, in a high-stakes effort to push back against Chinese territorial claims in the disputed resource-rich waters. The USS Lassen, a destroyer, sailed through the 12-nautical-mile zones of two artificial islands - Subi and Mischief reefs - that China has constructed in the Spratly chain. The warship began its mission at roughly 6.40am local time in the South China Sea, according to a senior US defence official. - Financial TimesAlmost two years after Gala Coral Group first explored a sale of its bingo business, it has agreed terms on a £241m deal with the investment firm backed by the Cayzer family. The sale to Caledonia Investments, an investment trust acquired by the Cayzers in 1951 as a holding company for their shipping interests, clears the decks at the bookmaker before its proposed merger with Ladbrokes. - The Times

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26 Aug 2016 08:22

BUZZ-Ladbrokes: boosted by Berenberg upgrade

** British bookmaker Ladbrokes' shares up 2.2 pct among top gainers on FTSE Mid 250 index after Berenberg raises to "buy" from "hold, hikes PT to 185p from 130p ** Brokerage cites approval of merger with Gala Coral & estimates 2017-18 EPS +15% for cos together ** Coral results (due Au

26 Aug 2016 07:07

LONDON BRIEFING: All Eyes Turn To Fed Chair Yellen's Speech

24 Aug 2016 09:13

UPDATE 1-Paddy Power Betfair expects faster cost savings from merger

* Increases cost savings to 65 mln pounds from 50 mln * May seek further deals or return cash to shareholders * Combined group EBITDA up 31 pct to 181 mln pounds (Adds details on strategy, CEO interview) By Padraic Halpin DUBLIN, Aug 24 (Reuters) - Gambling company Paddy

19 Aug 2016 12:07

Friday broker round-up

(ShareCast News) - GKN: Goldman Sachs reiterates neutral with a target price of 311p. Admiral group: Canaccord maintains hold with a 2100p target. Standard Chartered: UBS reiterates sell with a 600p target. Intertek: Berenberg reiterates hold with a 3600p target. Kaz Minerals: Credit Suisse keeps

12 Aug 2016 09:37

WINNERS & LOSERS SUMMARY: CEO Change Sends Restaurant Group Higher

12 Aug 2016 08:29

BROKER RATINGS SUMMARY: Merrill Lynch Upgrades Tullow Oil To Buy

10 Aug 2016 17:28

UPDATE 1-Rank Group, 888 push for William Hill board talks as detail bid

(Adds details, shares) By Pranav Kiran Aug 10 (Reuters) - Casino and bingo hall operator Rank Group Plc and online gambling company 888 Holdings Plc called on Wednesday for talks with the board of William Hill Plc after their proposed joint bid was rejected by the British bookmaker.

9 Aug 2016 17:34

UPDATE 3-British bookie William Hill spurns $4.1 bln Rank-888 bid

* Bookmaker rejects 364 pence-a-share-approach * Says 16 pct premium undervalues group * Shares were higher than bid level in March * William Hill closes up 0.49 pct, 888 and Rank down (Adds closing share prices, details on Betfair) By Paul Sandle and Rahul B Aug 9

9 Aug 2016 08:33

BROKER RATINGS SUMMARY: Cantor Upgrades easyJet To Buy From Hold

5 Aug 2016 10:22

UPDATE 1-Online problems depress profit for bid target William Hill

* First-half operating profit falls 16 pct * Poor online performance blamed * Says still waiting to hear details of 888-Rank approach (Adds CEO comments, shares) By Paul Sandle LONDON, Aug 5 (Reuters) - William Hill, the British bookmaker that last month sacked its chief

4 Aug 2016 11:11

UPDATE 1-Surprise soccer results boost profits for Ladbrokes

* H1 operating profit up by a better-than-expected 34 pct * Full-year consensus seen rising 5-8 pct * Boosted by favourable results in soccer offsets (Adds comments by CEO, analysts, share price) By Paul Sandle LONDON, Aug 4 (Reuters) - Soccer club Leicester City's fairy

4 Aug 2016 08:15

Ladbrokes leaps on back of thoroughbred first-half results

(ShareCast News) - Bookmaker Ladbrokes first-half profits beat management and City forecasts by a length as favourable results from the sporting gods put an extra sheen on the progress being made after last year's strategic rejig. Having got of to a strong start in the first quarter, growth accelera

4 Aug 2016 06:20

Ladbrokes first-half profit helped by favourable sports results

LONDON, Aug 4 (Reuters) - British bookmaker Ladbrokes reported a better-than-expected 34 percent rise in first-half operating profit on Thursday, helped by some bookmaker-friendly sporting results. The company, whose 2.3 billion pound ($3 billion) merger with rival Coral was approved last

26 Jul 2016 09:01

Ladbrokes, Coral must sell 350 to 400 shops to get merger clearance, says CMA

(ShareCast News) - The Competition and Markets Authority has confirmed that bookmakers Ladbrokes and Gala Coral will have to sell 350 to 400 shops in order to obtain clearance for their proposed merger. The regulator said on Tuesday that it has identified 642 local areas where the merger could resul

26 Jul 2016 06:49

UPDATE 1-Ladbrokes, Coral must sell stores to get merger cleared - UK regulator

(Adds detail, background) LONDON, July 25 (Reuters) - Bookmakers Ladbrokes and Gala Coral must sell around 350 to 400 shops in order to obtain clearance for their proposed merger, Britain's competition regulator said on Tuesday. The Competition and Markets Authority (CMA) said that a

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