Gold bullion is soaring as the US dollar weakens – could the dollar’s best days be behind us? March 8, 2016 Many would agree that strong monetary expansions often lead to weak paper currencies, but the evidence is mixed. The reason may be because money supply is usually treated as a generic concept, from base money, notes and coin, gold and other commodity monies. To really understand modern financial systems, we must acknowledge that they are [...]
Equiniti Group share price up as company announces an increase in revenue in its first set of full-year results since IPO last October March 8, 2016 Share price in Equiniti Group rose this morning as the company announced a boost to its revenues in its first set of full-year results since its float last October. Revenue at the company grew to £369m for the year ended December 2015, up 26.2 per cent from £292.3m the year before. Loss before tax at the company, [...]
Bad news: Bonuses on Wall Street have fallen as companies were hit by compliance costs March 8, 2016 If you're in securities, look away now. A new report has shown the average bonus paid on Wall Street has fallen nine per cent to $146,200 (£102,565) as finance firms' revenues were hit by extra compliance costs. The figure, by the Office of the New York State Comptroller, Thomas DiNapoli, showed profits at New York City's securities [...]
FYI: WPP wants you to know this about February’s revenue and sales growth March 8, 2016 Just days after warning that geopolitical conditions should make advertisers wary of "Don Draperish" optimism and handing in a solid rise in revenue and profits for 2015 in its latest results, WPP has another update. Due to popular demand from "a number of investors and analysts" apparently, the unexpected update details February's performance. "For the month [...]
FTSE 100 opens lower as miners’ share prices including Anglo American, Glencore and BHP Billiton fall after weak Chinese trade data March 8, 2016 The FTSE 100 index opened down this morning, following Asian markets lower after Chinese trade data declined by more than expected. The UK's blue-chip index fell 0.71 per cent to 6,136 points in early morning trading. "This morning’s latest Chinese trade numbers for February speak to that concern about the Chinese economy as imports declined 13.8 [...]
Paddy Power entered merger with Betfair with “strong trading momentum” as it reports solid 2015 results March 8, 2016 Paddy Power has reported strong results for 2015, leading it chief executive to state it and Betfair entered the merger with "strong trading momentum". The figures Paddy Power reported revenue up 24 per cent to €1.1bn (£850m) in 2015. The bookmaker also reported operating profit of €180m, a 10 per cent rise. Operating profit was reported 50 [...]
Retail sales run out of steam in February despite half-term and Valentine’s Day boost March 8, 2016 RETAIL sales slowed in February after a strong start to the year that was boosted by the January sales. Like-for-like sales rose by 0.1 per cent last month compared with February in 2015, when they had increased 0.2 per cent, according to the British Retail Consortium (BRC) and KPMG’s monthly data released today. The February [...]
Fast-food company Shake Shack reports revenue and profit growth in fourth quarter March 7, 2016 Shake Shack today reported total revenue of $51.1m (£35.8m) for the fourth quarter of 2015, up 46.8 per cent year on year. The figures The fast food chain also reported a sales increase of 49.2 per cent to $49.3m. And the company reported its operating profit up 88.1 per cent to $13.9m. Read more: Shake [...]
Urban Outfitters share price rockets as clothing company reports $1bn in sales in fourth quarter March 7, 2016 Urban Outfitters shares have jumped by almost six per cent in after hours trading, after the retail group announced fourth quarter earnings that beat expectations. Net income dropped to $73m (£51m) in the fourth quarter of the 2016 fiscal year, from $80m one year earlier, equivalent to 61 cents per share. Wall Street was expecting the [...]
Private jet mobile revolution drives sales: Meet Clive Jackson, the man behind Victor, the Uber of the skies March 7, 2016 Mobile apps have become the latest driver of growth for private jet hire, opening up a whole new market of corporate and private customers. Just as Uber has changed the way taxis operate, mobile app booking is absorbing market share from private jet brokers who have traditionally matched customers to companies. Founded in London in 2011, [...]