Rosetta Stone names new chief executive as language learning software provider reveals narrowing losses for full year ended December 2015 March 14, 2016 Language software company Rosetta Stone today revealed its new chief executive alongside narrowing losses in its results for its year ended December 2015. Revenue for the company's full year dropped to $217.7m (£152.2m), down 17 per cent from $261.9m in 2014, although it narrowed its losses to $46.8m, an improvement of 37 per cent compared with $73.7m the year before. [...]
Opec is predicting lower demand for oil in 2016, resulting in an increase in excess supply in the market March 14, 2016 Global demand for oil is expected to be less than previously thought in 2016, according to the Organization of the Petroleum Exporting Countries (Opec). Opec has put demand for crude at an average of 31.52m barrels per day in 2016, down 90,000 from last month's forecast. In its latest month report Opec has also predicted that supply from non-Opec [...]
Criminal investigation launched after man caught on video urinating on Kellogg’s factory assembly line March 14, 2016 A criminal investigation has been launched in the US after a video was posted online showing a man urinating on a Kellogg's factory assembly line. The company, which owns a number of well-known breakfast cereal brands, learned of the video on Friday and its own investigation revealed that it was filmed in its Memphis, Tennessee, factory in [...]
Russia predicts oil production freeze deal could be signed in April March 14, 2016 A historic deal among some of the world's biggest oil producers to freeze production could be inked in April and exclude Iran, Russian energy minister Alexander Novak said today. Speaking after a meeting with Iranian officials in Tehran, Novak said Iran has a right to duck out of the deal until the recovery of its oil output, which had [...]
3D Systems share price up as 3D printer company announces that revenues have increased in its results for full year ended December 2015 March 14, 2016 Share price in 3D Systems rose today after the company revealed its revenues inched up for its full year ended December 2015. The 3D printing company revealed that revenue had grown during 2015 by two per cent to $666.2m (£465.3m). "We believe that by leveraging our domain expertise, partner and customer relationships and advanced technology we are well positioned [...]
Former Anglo Irish chief executive David Drumm charged with fraud and forgery in Dublin after extradition to Ireland March 14, 2016 The ex-chief executive of failed bank Anglo Irish, David Drumm, has been formally charged with 33 offences relating to the bank's collapse in Dublin after a three year extradition battle in the US. The charges include forgery, conspiracy to defraud, provision of unlawful financial assistance, false accounting, and falsification of loan facilities, some of which carry sentences of up to [...]
Crowdfunding platform SyndicateRoom teams up with London Stock Exchange to allow individual investors to participate in IPOs March 14, 2016 Crowdfunding platform SyndicateRoom has revealed a new tie-up with the London Stock Exchange (LSE) that will allow crowdfunding investors to participate in initial public offerings (IPOs) and placings on the main market of the LSE and AIM. The Cambridge-based equity crowdfunding platform, which is regulated by the Financial Conduct Authority (FCA) and has facilitated almost £50m [...]
US hotel chain Starwood’s share price jumps in pre-market trading after unsolicited takeover approach March 14, 2016 Starwood Hotels and Resorts has received a $12.8bn (£8.9bn) takeover offer from a group led by China’s Anbang Insurance Group, potentially throwing a spanner in the works for the tie up between Starwood and Marriott agreed last November. The terms of the deal with Marriott includes a period during which Starwood can consider other offers and expires [...]
Fever-Tree’s share price sparkles as it toasts strong sales for its first full year as a listed company March 14, 2016 Premium mixers brand Fever-Tree, has reported revenue up 71 per cent to £59.3m for the year to 31 December, while pre-tax profits soared to a whopping £16.7m, from just £2.5m the year before. After listing in October 2014, shares have climbed by around 250 per cent, giving Fever-Tree a market capitalisation of around £680m. The company is also offering a substantial hike [...]
From Nigeria to Singapore: How low crude oil prices are changing pirates’ tactics March 14, 2016 Piracy off the coast of Nigeria is estimated to cost over $7bn annually, with the bulk of costs affecting the oil industry. And over in Singapore, pirate groups can earn up to $1m for a successful tanker hijack. But the data suggests that plummeting oil prices are driving a tactical shift by pirates, replacing oil theft [...]