Novartis earnings plummet but major drug release paves the way for improvement July 21, 2015 Earnings fell by 32 per cent at Novartis in the second quarter, but new medicine releases are expected to counteract the negative impact. Read more: Novartis accused of losing money for the NHS by blocking competitor drug trial During the three months ending June, net income was $1.86bn (£1.2bn) for the Swiss pharmaceutical giant, [...]
Red tape officers must allow banks to take risks: There’s no business without it July 21, 2015 It's clear there is still a major gap in understanding how growth can be maintained and stimulated by effective risk management, rather than restricted by focusing purely on compliance control as this recent report on soaring pay for so-called red tape officers shows. Some still blame excessive regulation for a stalling in financial firms’ [...]
Boeing says world needs 558,000 commercial airline pilots over the next 20 years July 21, 2015 There's good news for anyone who secretly harbours dreams of being an airline pilot – Boeing reckons that the world will need 558,000 new pilots over the next 20 years, four per cent more than forecast a year ago. The "pilot and technician outlook" said that airliners will spend more than $5.6 trillion to buy [...]
Strong dollar causes Harley-Davidson to hit the breaks – but motorcycle maker says it will meet expectations July 21, 2015 The figures It turns out riding isn't so easy these days, after the stronger dollar pushed second quarter net income at Harley-Davidson down to $299.8m, down from $354.2m a year ago. But the company said it's on track to meet expectations (which it lowered in April), with earnings per share at $1.44 compared with $1.62 in the same period last year. [...]
Citizens Financial income plummets 39 per cent July 21, 2015 In one of its first updates since it was spun-off from the Royal Bank of Scotland (RBS), Citizens Financial has posted results showing its income dipped 39 per cent in the second quarter. The figures It wasn't a great quarter for the US bank: earnings fell to $190m in the three months to the end of June, 39 [...]
Vodafone Europe chief Philipp Humm out in leadership streamlining by Vittorio Colao July 21, 2015 Vodafone Europe chief executive Philipp Humm is out after a streamlining of the mobile operator's leadership by top boss Vittorio Colao. "These changes will simplify and streamline the management of our largest European markets and accelerate our strategic plans in those countries as convergence gathers pace and our Project Spring organic investment programme and focus on [...]
Can GVC trump 888 over Bwin.party? Rivals square up over gambling site acquisition July 21, 2015 Who has the best hand when it comes to taking over Bwin.party? The gambling site may have secured a deal from 888, but now rival group GVC Holdings has confirmed it is in talks about how to get in on the action. Last week 888 made an offer for the business of 104.09p [...]
IG Group share price slides as chief executive Tim Howkins resigns July 21, 2015 Shares in IG Group slid 4.5 per cent to 771p this morning after Tim Howkins said he will retire from his role as chief executive and a director in October, as the company revealed that its full-year profits had been dented by the Swiss franc crisis earlier this year. The financial spread betting firm said Peter [...]
Royal Mail posts flat revenue as letter sending continues to fall July 21, 2015 The figures The continued drop in letter-sending held back Royal Mail in the three months to 28 June, with revenue at the FTSE 100-listed company's core parcels and letters business falling two per cent, primarily thanks to a five per cent fall in the addressed letter volumes in the UK. Even the benefit of the [...]
Watchdog visits Barclays four times a week as FCA takes on Barclaycard oversight July 20, 2015 Barclays was visited by UK regulators on 186 separate occasions last year – more than twice as many times as the next most-visited lender, figures published yesterday show. The bank met with supervisors from the Financial Conduct Authority at its offices roughly four out of every five working days in 2014. The next most visited, [...]