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Coal miner Asia Resource Minerals hit with £4.65 million fine for breaching listing rules: London-listed coal-miner Asia Resource Minerals has been hit with a near-£5 million fine by City watchdogs only weeks after financier Nat Rothschild walked away from a fight to regain control.

U.K. wage growth hits four-year high of 2.7% in April: Wage growth in Britain hit a four-year high of 2.7% in April, according to official figures, delivering a welcome increase to household finances following the fall in inflation this year.

Walker Greenbank enjoys strong start: Walker Greenbank, the luxury wallpaper manufacturer, reported a strong start to trading that sent the shares more than 4% higher. It focuses on the manufacture of high-end wall coverings with complex designs and textured paper. The products are sold through the four main brands of Harlequin, Zoffany, Sanderson, and Morris & Co. The Sanderson brand in particular is thought to be a favourite with the Queen. The company is also enjoying a taste for retro designs and more expensive products. The best performance came from the U.S. where sales jumped 27.1% higher after an extension to the showroom in New York last year helped sales. With a decent start to the year city analysts expect sales to increase to £88 million, giving £8.7 million in pretax profits and 11.6p in earnings per share, for the 12 months to the end of January 2016. The shares have largely gone sideways this year and are now trading on 17 times forecast earnings and offer a prospective dividend yield of 1.4%. Walker Greenbank at 210p+10p. Questor Says “Hold”.

Berkeley profits jump 42%: A sharp rise in profits reported by London housebuilder Berkeley Group is no flash in the pan. It is the result of a big bet made on the property market in the South East five years ago, and the shares jumped more than 8% because there is every sign there is plenty more to come. Tony Pidgeley, Chairman of Berkeley Group, is respected as one of the best readers of the property market in the game. He reduced land holdings ahead of the property slump in the late 80s, and more recently called the top of the housing bubble just before the crash in 2007. The company is currently reaping the rewards of another astute move when Berkeley cut dividends and used all its spare cash to buy land cheaply between 2009 and 2013. So, if investors buy the shares at the £34.81 price at which they are currently trading, they can expect to receive 523p in dividends during the next three years, or an income yield of some 15%. With the profits seen to be rising so quickly, investors sent the shares up 274p, or 8.7%, on the belief that the dividend payout could exceed the current target. Mr Pidgeley has a well-earned reputation, not just for timing the market, but also for understanding that the good times don’t go on forever and accepting a good price now is better than holding on for the illusory perfect trade. Looking at Berkeley’s share price, it seems to price in the current high level of profits, which have been achieved on record house prices, and much of the return of capital already. Questor recommended buying Berkeley shares at 801p back in 2010. Berkeley Group at £34.81+323p. Questor Says “Hold”.

Weak oil prices force BP to get tough on suppliers: BP is understood to be squeezing its contractors and suppliers in the North Sea as it strives to drive down costs amid weaker oil prices.

Betfair set fair: The professional deformity of stockbrokers is optimism. So it is noteworthy when a couple of firms go cold on a hot stock such as Betfair, as Numis and Panmure have done. Analysts more typically insist a company is a screaming buy until the shares crater and the finance Director absconds with the petty cash. Then they drop it from their coverage list. Betfair has neither of those problems. A mastery of mobile betting rooted in its origins as a tech-driven betting exchange have helped the group increase underlying profits before tax 55% to £95 million in the year to April. Tough-minded Chief Executive Breon Corcoran has built a business whose valuation of more than £2 billion exceeds that of Ladbrokes. Numis’s Ivor Jones, meanwhile, wears the badge of honour of sticking a “reduce” rating on a company chaired by Gerald Corbett, who chairs his employer too. Must make for interesting chats in the lifts.

Berkeley Group warns against U.K. vote to leave EU: Berkeley Group has joined the chorus of companies warning against the potential pitfalls of a Brexit, with the U.K. housebuilder’s Chairman calling for “the U.K.’s continued participation in the EU in order to maintain London’s pre-eminence as a world city

Kheraj charged with finding new StanChart Chief: Naguib Kheraj, the former group Finance Director of Barclays, has been charged with finding a new Chairman of Standard Chartered to replace Sir John Peace after being named as the bank’s new senior independent Director

Oil prices may not rise, industry warns SNP: Oil prices may remain slumped at $60 a barrel, the head of the U.K.’s oil and gas trade association has warned, in yet another blow to the SNP’s plans.

UK average earnings excluding bonus rose more than expected in the February-April 2015 period On an annual basis, in the February-April 2015 period, the average earnings excluding bonus recorded a rise of 2.70% in the UK, higher than market expectations for a rise of 2.50%. In the January-March 2015 period, the average earnings excluding bonus had risen by a revised 2.30%.

At 0330GMT today, Brent crude oil one month futures contract is trading 0.27% or $0.17 lower at $63.70 per barrel. Yesterday, the contract climbed 0.27% or $0.17, to settle at $63.87 per barrel, after the Energy Information Administration announced that crude oil stockpiles in the US fell 2.7 million barrels in the week ended 12 June

Foxtons It's the estate agent that people love to hate, notoriously aggressive even in a cut-throat industry. And yet people are excited when one turns up in their neighbourhood. As a competitor puts it, "If you have a name as a really ruthless, sharky bastard estate agent, a lot of people, when they come to selling their house, will think, 'I want that ruthless, sharky bastard.'" (Guardian)

Berkeley: the same but different Selling flashy apartments in London is good business

Pearson to sell Powerschool for $350m Deal is part of education company’s shift from back-office functions to teaching and assessment

Tomorrow from 6pm alongside 3 other companies Proactive Investors One2One Investor Forum - London W Resources | Ariana Resources | Savannah Petroleum | Kalimantan Gold Mr Tony Manini; CEO & Deputy Chairman presenting Jun 18th 2015, 5.45PM for 6pm start - Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair At the Chesterfield Mayfair Hotel, Charles Street, London W1

High street sports retailer JD Sports Fashion said it expects to meet annual forecasts after a solid start to the year despite tough comparatives and weaker margins in Europe. Executive chairman Peter Cowgill said: "The board remains confident that current earnings expectations for the group for the year ended 31 January 2016 should be met

The Board has declared a further interim dividend of 90 pence per share (£122.9 million), payable on 17 September 2015 to shareholders on the register on 14 August 2015. This will complete the first milestone of paying 434 pence per share by 30 September 2015. The Board considers that the Group is well positioned to meet the remaining milestones of 433 pence by September 2018 and 433 pence by September 2021. In closing, I would like to express my thanks to my colleagues in Berkeley for their dedication and hard work in delivering this strong performance. I firmly believe that Berkeley has the right plan in place to deliver long-term sustainable success, a strategy which can adapt to any changes in the market to protect the business in what is a cyclical market, and continue to deliver value to shareholders and the community alike." Tony Pidgley CBE Chairman

OUTLOOK · Further interim dividend of 90 pence per share payable in September 2015 to complete first milestone payment of 434 pence per share · Cash due over the next three years on forward sales of £2,959 million (April 2014: £2,274 million) · Land holdings** comprise 37,473plots (April 2014: 35,963 plots) and future anticipated gross margin of £5,272 million (April 2014: £4,514 million) · Normal market conditions with good underlying demand and outlook supported by a clear General Election result. * 'Adjusted' statistics exclude £99.8 million of revenue and £85.1 million of profit from the sale of the ground rent asset portfolio. ** Land bank statistics have been rebased to incorporate the previously disclosed land holdings and future pipeline. Commenting on the results, Chairman Tony Pidgley said: "I am pleased to announce pre-tax profits for the Berkeley Group of £539.7 million for the year ended 30 April 2015. This result underlines the benefit of operating the right strategy consistently through the cycle. By maintaining our financial discipline Berkeley can apply its unique operating model to develop sites which are complex and where others may perceive that the risk is too great, and in doing so, we unlock land for new homes that would not otherwise come forward. Berkeley accepts this additional operational risk which is managed carefully and intensively to create sustainable added value returns. Berkeley is delivering some 10% of all new homes in London and 10% of the capital's affordable homes across our 74 sites. This creates economic value of £1.4 billion and sustains some 12,000 jobs. In addition, we remain committed to increase site-based apprenticeships and training to help address the skills shortage which our industry faces. We are acutely aware of the importance to our society of all forms of tenure for new housing and welcome the vision of Government, the Greater London Authority and local councils to increase the number of new homes built. For Berkeley it is equally important to ensure that we are market leaders in terms of the quality of the places and homes we create. We welcome the stability in Central Government following the General Election and the commitment to increase housing supply, but political uncertainty remains with the London Mayoral Election and referendum on Britain's relationship with Europe on the horizon. Berkeley is a supporter of the UK remaining in Europe as this is the best way for London to remain a world city. There is no doubt, however, that for business to thrive, we must not be bound by over-regulation, be this from our own government or from Europe. The Board has declared a further interim dividend of 90 pence per share (£122.9 million), payable on 17 September 2015 to shareholders on the register on 14 August 2015. Th

Oil: Leaner times for ‘Fort McMoney’ FT series: Canada’s oil sands industry is choked of investment after price collapses

Finsbury Food buys Just Desserts: Finsbury Food Group, which supplies baked goods to leading national coffee shop chains, has completed its acquisition of Just Desserts, saving the group from administration