Asian markets recover on G20 hopes – but Sharp shares fall after Foxconn delay February 26, 2016 After sharp falls yesterday, shares in China recovered overnight, after the country's central banker showed told a G20 meeting the country still had "multiple policy instruments" to support stumbles in growth. The Shanghai Composite was up 1.4 per cent in mid-afternoon trading, while the Shenzhen Composite was up 0.6 per cent. Meanwhile, Hong Kong's Hang [...]
London house prices: Here’s how pop-up homes could help boost supply and cut rental prices February 26, 2016 Pop-up venues – from shops to galleries and restaurants – have thrived since the recession and are now ingrained UK culture, providing landlords with a means of filling vacant spaces and supporting fledgling businesses. But they could play just as crucial a part in tackling London's housing crisis by providing fast and cheaper accommodation, the Greater London Authority (GLA) Conservatives have claimed. In [...]
Dozens of UK KPMG partners face the chop in overhaul led by chairman Simon Collins February 26, 2016 A top level restructure at one of the Big Four accountancy firms will see close to 50 partners shown the door. KPMG will shed dozens of partners as part of a push by Simon Collins, its UK chairman, to overhaul the professional service firm’s operating model and bring more technology into the business to suit [...]
UK house prices: two thirds of workers earned less than the average property last year February 26, 2016 Two out of five UK workers (38 per cent) earned less than the average home in the last 12 months, a new study by Post Office Money claims. The Cost of Buying & Moving report, which was compiled by the Centre for Economics and Business Research (Cebr) found that average house prices rose by seven per cent – [...]
Gap’s share price falls after reporting downbeat full-year earnings outlook February 25, 2016 After announcing a fairly downbeat full-year earnings outlook, retailer Gap's share price slid over four per cent in after hours trading. The company said that it now expects diluted earnings per share to be in the range of $2.20 – $2.25 for the 2016 fiscal year, against expectations of $2.44 per share. The news came as [...]
So-called Chinese Google Baidu sees share price rocket as profit jumps 663 per cent and revenue climbs in fourth quarter February 25, 2016 Shares in Chinese internet giant Baidu have rocketed by 13.13 per cent in after hours trading, after the company reported 663 per cent growth in profit in the final quarter of 2015, up to 24.7bn yuan (£2.7bn) from 3.2bn yuan in the same period of 2014. The group,sometimes referred to as China's Google, also posted revenue [...]
Oprah Winfrey partnership could be an expensive choice for Weight Watchers as shares plunge on massive loss and missed earnings forecasts February 25, 2016 Weight Watchers stock has plummeted by over 27 per cent in after hours trading after the worldwide dieting organisation reported a loss of $11.3m (£8.1m) for the fourth quarter of 2015, compared with profit of $4.4m in the same period in 2014 – a 359 per cent drop in income. This brought earnings per share (EPS) [...]
Kraft Heinz’s share price rises after it reports net sales of $7.12bn in fourth quarter results as it says integration is on track February 25, 2016 Kraft Heinz reported fourth quarter net sales having increased due to the merger of Kraft and Heinz, pushing its share price up more than three per cent in after hours trading. The company reported fourth quarter earnings per share of 23 cents in the 14 weeks to 3 January, up from a loss of four cents [...]
Herbalife share price dips initially but recovers in after hours trading after sales and earnings beat expectations February 25, 2016 Controversial marketing and nutrition firm Herbalife made $1.1bn (£788m) in sales in the final quarter of 2015, a 3.1 per cent drop compared with the same period of last year. Profit dropped to $84.5m from $103.3m, and earnings per share (EPS) hit $0.98, down from $1.21- but beating expectations of $0.97. Meanwhile, volume points – [...]
TalkTalk accuses Ofcom of dodging BT Openreach decision after digital review demands better access for rivals, sending BT’s share price soaring February 25, 2016 TalkTalk boss Dido Harding has slammed Ofcom for “kicking the Openreach can down the road”, after the telecoms regulator decided not to split off the infrastructure arm from BT. Ofcom yesterday released the results of its once-a-decade industry review that stopped short of demanding Openreach be hived off from BT, but said the option was still [...]