Google pledges to give millions of pounds to news organisations across Europe April 27, 2015 Google is offering to give news organisations across Europe €150m (£107m) worth of funding, to help them earn money from their own online coverage. Those eligible to receive the money range from established publishers to start-up news providers, and the money will be given over the course of the next three years. According to [...]
Apple smashes it and beats expectations with best second quarter figures ever April 27, 2015 The world's most valuable company has just outdone itself. The figures During the second quarter ending 28 March, Apple's revenue grew by 27 per cent to $58bn (£38bn), exceeding market expectations of $56bn. The net profit of $13.6bn will also bring a smile to investors' faces, since it pushed earnings per share up by [...]
Tesco paves way for Dunnhumby sale with end to exclusive Kroger deal April 27, 2015 Tesco has taken a major step forward in paving the way for a sale of its lucrative Dunnhumby data business after agreeing a deal with US retailer Kroger to loosen an existing partnership which prevented the firm from expanding stateside. The joint venture with Kroger had been a thorny sticking point in any potential sale [...]
Apple earnings: Four things to expect after the iPhone 6 success and Apple Watch launch from the second quarter results April 27, 2015 Apple is expected to report another exceptional quarter, still riding high from the success of the iPhone 6. It's a tough act to follow after last quarter, its first since the new generation phone launched last year, when it sold a record 74.5m iPhone's and sales rose an astonishing 30 per cent to $74.6bn (yes, [...]
Another director leaves House of Fraser following Chinese acquisition April 27, 2015 House of Fraser is losing another member of its senior team, months into the department store's ownership transition. Chief financial officer Mark Gifford is leaving the company in September after eight years in the role, and 13 years at the company all told. Colin Elliot, a chartered accountant who has most recently worked [...]
HSBC share price continues surge in London and Hong Kong after UK HQ review and potential Brit spin-off revealed April 27, 2015 Shares in HSBC have surged in early trading extending last week's gains, made after it was revealed the bank was considering relocating away from the UK. HSBC shares opened three per cent higher in London today following reports over the weekend that Britain's largest bank could spin off its UK business into a separate division and [...]
RBS sells $5.6bn North American loan portfolio to Mizuho Bank April 27, 2015 The Royal Bank of Scotland (RBS) will sell a $5.6bn (£3.7bn) portfolio of loan commitments to Mizuho Bank, it said today – its second deal with the Japanese lender in three months. Around two-thirds of RBS' North American corporate loan portfolio has now been disposed of as the shrinking bank looks to exit many of [...]
Centrica expects choppy waters ahead as low oil and gas prices continue to weigh on peformance April 27, 2015 Centrica said this morning that the continued weight of low commodity prices meant it was unable to revise up the gloomy forecast it gave investors in February. The company's preliminary results, released on 19 February, revealed a full-year net loss of £1bn and left dividends slashed by 30 per cent. Also in that statement, the [...]
Diageo battles subsidiary boss Vijay Mallya after financial misconduct probe April 27, 2015 Diageo was forced to hold an emergency meeting over the weekend after the chairman of its Indian subsidiary, United Spirits, was accused of financial misconduct. Vijay Mallya, the former majority stakeholder in United Spirits, was asked to step down by Diageo, which purchased 55 per cent of the company for £1.8bn last year. Mallya is [...]
Warm reception for HSBC boosts chance it will move to Hong Kong April 27, 2015 HSBC’S bosses received a substantially warmer welcome from investors in Hong Kong than at its annual general meeting (AGM) in London on Friday, City A.M. understands. It comes at a crucial time for the UK-based banking giant as it considers moving its headquarters out of the UK, in response to the rising tide of regulation [...]