UK Oil & Gas share price falls as it admits Horse Hill licence will expire within months April 28, 2015 UK Oil & Gas, aka UKOG, aka the "Gatwick gusher" has admitted its licences to explore the area around Gatwick Airport where it discovered 100bn barrels of oil are due to expire shortly – one in the next six months. The news prompted UKOG's share price to tumble more than seven per cent to 2.86p [...]
BP’s share price shows it’s weathering the oil price crisis – in charts April 28, 2015 BP has suffered under the pressure of falling oil prices, as the continued low cost of the black stuff reshapes the oil industry. The company’s results, released today, showed a 20 per cent drop in profits – which, amazingly, was still above market expectations. Analysts expected earnings could fall to $1.28bn (£840m), but in the event, they [...]
Ex Morrisons chief Dalton Philips pockets £1m bonus April 28, 2015 Former Morrisons chief executive Dalton Philips, whose last year in the role saw the supermarket cut its dividend amid large losses, is being given a £1m bonus for 2014/15. This comes on top of his base salary of £850,000, and other benefits including his pension. In total, Philips will take home almost £2.1m. [...]
Win or draw? Alliance Trust share price rises as Elliott Advisors withdraws resolutions – but gets two seats on the board April 28, 2015 Elliott Advisors will call this a win – Alliance Trust may settle for something rather less emphatic. The day before what was set to be a heated annual general meeting (AGM), the financial services company appears to have reached a truce with one of its largest shareholders by giving it two seats on the board, [...]
BP share price edges up as profits plummet 20 per cent, but still beat expectations April 28, 2015 BP's share price rose slightly this morning, even as the company's results suffered from the effects of low oil prices. The energy giant’s underlying replacement cost profit was down 20 per cent for the three months ending 31 March, compared with the same period a year earlier. That sounds like terrible news, but the company [...]
Whitbread chief executive Andy Harrison announces retirement plans as company profits soar April 28, 2015 The figures Whitbread chief executive Andy Harrison has announced his intention to retire from the role at the end of the next financial year, after the company reported a rise in sales, earnings and profit for the year ended 26 February 2015. Harrison, who previously occupied the same role at easyJet and RAC, said "it is [...]
Santander shrugs of Eurozone troubles to record 39 per cent jump in profit April 28, 2015 The Eurozone’s largest bank showed it can thrive in the region’s crisis. Profit before tax was up 39 per cent in the three months to March 2015, compared to the same three months a year ago. It came in at €2.9bn (£2.1bn), up from €2.1bn in quarter one 2014. Banco Santander’s net income grew 32 [...]
Apple sales soar on back of China growth: Profits rise despite decline in iPad sales April 27, 2015 Apple has reported a 27 per cent increase in revenue to $58bn (£38bn) for the second quarter, boosted by strong demand in China. Sales in China alone rose 71 per cent to $16.8bn, helping the smartphone giant rake in profits of $13.6bn, up from $10.2bn last year. The firm sold 61.2m iPhones during the period, [...]
Bank holiday cancelled: RBS branches stay open on Monday April 27, 2015 Bank holidays could soon be a relic of a bygone age of short opening hours and inconvenient service, as RBS plans to open dozens of branches this Monday. As internet and mobile banking have taken off, branch use has plummeted, prompting banks to try to make access to their expensive high street sites more convenient. [...]
Deutsche Bank’s Anshu Jain takes responsibility for Libor rigging scandal but won’t quit April 27, 2015 One of Deutsche Bank’s co-chief executives yesterday said he takes responsibility for the Libor fiddling that took place in London on his watch. But Anshu Jain said that he will not resign. The bank has disciplined or fired everyone who it believes is responsible, and has been told to sack another seven staff identified by [...]