Astrazeneca reaches ‘turning point’ as it returns to sales growth November 8, 2018 Pharmaceutical giant Astrazeneca returned to sales growth today as it predicted a period of “rapid growth” ahead after successful drug launches. Product sales rose eight per cent to $5.3bn in the third quarter after nine consecutive quarters of sales decline. But total revenue fell 14 per cent to $5.34bn and operating profit dropped 26 per [...]
In a rare move, HMRC is refunding some parents who were liable for the child benefit charge – here’s what you need to know November 8, 2018 It is unusual for HMRC to admit that it has been too heavy-handed, so last week came as a welcome surprise to many parents who have been hit with fines in relation to child benefits. If you are responsible for bringing up a child under 16 (or under 20 if they are in education), you [...]
Kingdom come: Burberry’s new fashion line helps profits meet expectations November 8, 2018 Burberry has welcomed a rise in profits in its half-year results following new creative director Riccardo Tisci's debut collection, titled 'Kingdom'. The figures Burberry total revenue declined three per cent year on year to £1.22bn in the 26 weeks to the end of September. But like-for-like store sales were up three per cent, spurred on by growth [...]
Tesla hires new chair as Elon Musk steps down as part of SEC deal November 8, 2018 Tesla has appointed Robyn Denholm, finance chief and head of strategy at Australian telecoms firm Telstra and existing Tesla board member, as its new chair after Elon Musk was forced to step down as part of a settlement deal with the US securities watchdog. Denholm will leave her role at Telstra in six months time, to sit at the [...]
Winter is coming: Superdry looks to colder months after cautious first half November 8, 2018 Fresh from issuing a profit warning last month, British fashion group Superdry reiterated its weather woes this morning after saying that it had yet to see a sustained period of normal conditions, despite enjoying a second-quarter bump in sales. The FTSE 250 firm saw shares fall by over six per cent in early trading despite brand [...]
Halfords profits fall 23 per cent but sales rise in challenging environment November 8, 2018 Halfords profits dropped 23 per cent in the first half of the year as it launched a new strategy but sales rose amid a "challenging" environment. The figures Halfords reported a pre-tax profit of £28.2m for the six months to 28 September – a 23 per cent drop on the same period in 2017. Excluding [...]
Be wary of taking the golden goose of London for granted November 8, 2018 Last week’s Budget saw two infrastructure spending announcements for London. The first was a cool £291m to buy more DLR trains and convert a depot into housing. This will facilitate 18,000 homes – in reality, about four months’ worth of London’s annual need for housing. The second was £5m for a Westminster Ceremonial Streetscape project. [...]
Autotrader profits zoom ahead as advertising spend accelerates November 8, 2018 Autotrader stepped it up a gear in its half-year results today, with profits speeding ahead despite an industry-wide lull in car sales. The figures Revenue was up seven per cent year on year to £176.8m for the six months to the end of September, compared to £165m the same period the year before. Profit before [...]
The tech revolution could be a catastrophic setback for civilisation November 8, 2018 Social earthquakes are looming fast from the emerging wave of automation and the tech revolution. We’ve all seen the headlines about artificial intelligence (AI), the rise of the robots, self-driving cars, and leaps forward in machine learning. But does society realise what is coming? Will it prepare itself? Can the scale and speed of change [...]
DEBATE: In losing the US House of Representatives, has President Trump lost his mandate? November 8, 2018 In losing the US House of Representatives, has President Trump lost his mandate? David Waywell, author and political commentator, says YES. Republican losses in the midterms were not as overwhelming as some might have predicted, but defeats in the House of Representatives do mean that Donald Trump loses the mandate he took rather for granted. [...]