Baidu share price down more than 16 per cent after disappointing earnings July 28, 2015 Shares in Baidu, often dubbed "China's answer to Google", plummeted 16.8 per cent to $164.99 this afternoon, after less-than-encouraging results were released. Read more: Baidu confirms it's buying a stake in Uber During the second quarter, the Nasdaq-listed company's revenues went up 38 per cent from a year earlier to $2.7bn (£1.7bn), resulting in a fourth [...]
Domino’s Pizza share price leaps as much as 12 per cent as profit soars July 28, 2015 Investors feasted on Domino’s Pizza shares today as the Pepperoni Passion and Mighty Meaty pizza-maker posted better than expected first half profits. The company, which has over 900 stores in the UK and Europe, said sales increased by 14 per cent to £426.7m in the six months to 28 June while underlying operating profits jumped [...]
Tesco’s ban on sugary drinks is fine – as long as the government keeps away and consumers can still vote with their feet July 28, 2015 As a libertarian, I don’t quite know what to think about Tesco’s decision to drop Ribena and other sugary drinks for kids. On its own, I can see the advantages. As part of a broader trend, it’s a little worrying. So why might Tesco be doing this? Let’s take it for granted that Tesco [...]
Herzog & de Meuron’s Canary Wharf tower given go-ahead July 28, 2015 Fancy living in a cylindrical waterfront tower? Soon homebuyers will be able to do just that after Canary Wharf Group secured detailed planning permission for its second residential scheme on the former Wood Wharf site. The 57-storey building, which is yet to be named, owes its quirky design to Swiss architects Herzog & de Meuron, [...]
US corporations including Apple and Google pledge billions to help Obama administration combat climate change ahead of Paris summit July 28, 2015 US corporations are pledging billions of dollars to green finance, as the private sector supports the Obama administration in securing a strong global deal on combating climate change. Thirteen top US companies, including Apple, Walmart and Google, teamed up with the White House to launch the American Business Act on Climate Pledge. The campaign is [...]
Shawbrook profits soar, almost doubling to £34.8m July 28, 2015 Shawbrook has reported a 94 per cent rise in underlying pre-tax profit after its recent IPO and amid ongoing concerns of a bank surcharge. The figures Shawbrook, the challenger bank founded in 2011 to fill the gap left by high street lenders when they tightened restrictions on lending to small firms, has performed strongly in [...]
Supermarket wars: Growth at Co-op Food for first time in a year, as Tesco and Asda decline yet again July 28, 2015 The Co-Operative supermarket is back in growth for the first time in a year, as Sainsbury's reclaims its second place position in the sector. The sector experienced slight growth for the 12 weeks to 19 July, with sales up 0.8 per cent year on year – though this was generally experienced by the smaller [...]
ITV audience numbers fall to lowest in 15 years while profits climb July 28, 2015 ITV audience numbers may have fallen to lowest in 15 years, but the broadcaster is continuing to grow revenues from advertising as well as its production arm ITV Studios. The broadcasters share price was trading 2.6 per cent up in mid morning trading after the announcement. The figures The broadcaster posted a pre-tax profit of [...]
Royal Mail’s share price plummets after Ofcom claims it “breached competition law” over delivery service changes July 28, 2015 Royal Mail's share price plummeted three per cent in early trading after Ofcom claimed it had “breached competition law” by behaving in a way that “amounted to unlawful discrimination” against competitors. The communications watchdog has issued a strongly worded “statement of objections” as part of an ongoing investigation prompted by complaints against Royal Mail [...]
Next’s share price jumps as it raises profit forecast after better than expected first half July 28, 2015 Next's share price jumped 1.4 per cent this morning, after raising its profit guidance for the full year following better than expected sales in the first half of this year. The high street chain is really showing Marks & Spencer how to do it. While its high street rival is struggling to get its [...]