Next share price drops on back of profit warning as warm weather hits sales October 29, 2014 High street retailer Next has warned that profits will be lower than expected for the full year as a result of warm weather, pushing its share price down this morning. Sales for the third quarter were up 5.4 per cent, almost half the 10 per cent originally expected, saying weather this autumn had been "unseasonably [...]
Businesses slam politicians over blackout threat despite years of energy shortage warnings October 28, 2014 Business groups have slammed politicians for failing to take action on energy supply shortages, despite 15 years of warning signs. The National Grid warned yesterday that spare electricity capacity would be at a seven-year low this winter due to a mixture of planned generator closures and breakdowns, without enough new plants to make up the [...]
Fitbug share price: The curious case of the rocketing penny stock October 28, 2014 Penny stock Fitbug continued its meteoric rise yesterday as shares jumped a further 60 per cent to 6.22p, leaving the wearable fitness tracker-maker perplexed as to the reason why. Fitbug gained investors’ attention last Wednesday when the little-known firm announced a potentially lucrative deal for its £49.95 Orb wristband to be stocked in 1,800 Target [...]
State must slash spending to get debt under control October 28, 2014 THE GOVERNMENT needs to slash spending by a quarter if it is to meet its debt target due to the UK’s ageing population, a new report argues. Public sector debt is now over 75 per cent but this fails to take into account the effects of the UK’s ageing population, according to the report released today [...]
Slower world economic growth hits Standard Chartered hard October 28, 2014 INVESTORS fled emerging markets-focused bank Standard Chartered yesterday after it reported a sharp fall in profits for the third quarter. The bank had racked up 10 consecutive years of record profits, coming through the financial crisis in strong form because of its focus in Asia and Africa, rather than the western world. But that has left [...]
Liberal Democrats accuse Tories of blocking their own EU bill October 28, 2014 The Liberal Democrats have accused the Conservative party of deliberately scuppering their own European referendum bill, a key issue for David Cameron in his battle against Ukip. The private member’s bill, which was being taken through the House of Commons by Tory backbench MP Bob Neill and would have offered the UK an in/out vote, [...]
Sweden fights deflation with 0pc interest rate October 28, 2014 THE COUNTRY that brought you noir TV detective shows such as Wallander and – with Denmark – The Bridge, yesterday delivered some bleak news for savers. Riksbank, Sweden’s central bank, cut interest rates more than expected to zero to ward off a prolonged deflation risk, and said it would delay tightening policy until the middle of 2016. [...]
Facebook beats expectations as mobile grows October 28, 2014 Facebook has posted impressive third-quarter results with growth in both revenue and users. Yet despite beating analysts’ expectations, markets had expected a stronger performance and shares in Facebook dropped eight per cent in after-hours trading last night. The firm also warned of higher costs next year. The multi-billion dollar company grew its daily active users [...]
Lloyds share price falls as Vince Cable set to urge bank not to close the last branches in any town October 28, 2014 Lloyds yesterday revealed a new three-year plan to cut 9,000 jobs and close 150 branches, as part of its longer strategy to adapt to the increasingly digital banking market. But business secretary Vince Cable is expected to step in to urge all banks to make sure no town is left without a branch. Its previous [...]
Bank split over interest rates October 28, 2014 INTEREST rates should stay low for the forseeable future, the Bank of England’s deputy governor Sir Jon Cunliffe said last night. Taking on members of the monetary policy committee who backed a hike, Cunliffe said: “With the scope for tightening monetary policy substantial, but the scope for loosening it much more limited, the risk of [...]