Aggreko says first half profits will be lower as the oil price rout claims its latest victim March 3, 2016 Temporary power services firm Aggreko has said first half profits are likely to be lower in the first half of this year, however its shares jumped as analysts said that this wasn't "as bad as expected." The figures Pre-tax profit fell 13 per cent to £226m in the year ended 31 December, from £289m in [...]
Moody’s downgrades five Omani banks: BankMuscat, Oman Arab Bank, National Bank of Oman, Bank Dhofar and HSBC Bank Oman SAOG March 3, 2016 Credit ratings agency Moody's has downgraded five Omani banks, having slashed the country's credit rating last month due to low oil prices. Moody's downgraded the long-term deposit rating of BankMuscat, Oman Arab Bank, National Bank of Oman, Bank Dhofar and HSBC Bank Oman. It also kept their ratings under review for downgrade. The banks can no longer rely on the Omani government as a safety [...]
American Eagle Outfitters share price up in after-hours trading as fashion retailer sees sales and profits soar in its year ended January 2016 March 2, 2016 Share price in American Eagle Outfitters rose in after-hours trading today, as the company revealed that profits almost trebled in its most recent set of results. The fashion retailer announced revenue of $3.5bn (£2.5bn) for its year ended January 2016, up seven per cent from $3.3bn the year before, and net income of $218.1m, up 172 [...]
Skullcandy share price down in after-hours trading as headphone company reports fall in net income despite higher sales for year ended December 2015 March 2, 2016 Shares in Skullcandy dropped in after-hours trading, as the headphone company revealed a fall in profits in its most recent results despite rising sales. Net income dropped to $5.9m (£4.2m) for the year ended December 2015, down 23 per cent from $7.6m the year before, although net sales rose to $266.3m, up seven per cent from [...]
US slaps 266 per cent tariff on cheap China steel dumping March 2, 2016 The UK’s steel sector has come under renewed pressure from cheap Chinese imports after the US ramped up tariffs. The US Department of Commerce has slapped tariffs of 266 per cent on Chinese cold rolled coil steel, compared with a tariff of between 13.8 per cent and 16 per cent in the EU. The industry [...]
FTSE reshuffle: Who’s in and who’s out of the blue-chip index – Morrisons, Sports Direct, Aberdeen Asset Management, Paddy Power Betfair, Informa, Mediclinic International March 2, 2016 Supermarket Morrison's has stormed back into the FTSE 100, having only been given the boot in the index's last quarterly review. News of a tie up with Amazon gave the big four grocer the boost it needed, sending its share price to 205.4p, up around 10 per cent on the week. Morrison's will be joined in the blue-chip [...]
FTSE 100 index closes lower as the price of oil slides and share prices of ITV and Intertek fall March 2, 2016 After a positive start to Wednesday's trading, the FTSE 100 swung into a loss for the day as the share prices of ITV and Intertek faltered. The UK's blue chip index closed 0.09 per cent lower at 6,147 points, as oil prices fell after it was revealed inventories rose. "A slide back in oil prices appears [...]
City Pub Company gears up for float on AIM next year after £10m fundraising March 2, 2016 The owners of The City Pub Company have announced plans to float the pub chain on London's junior market next year after raising £10m to fund its expansion. The group, which operates two separate divisions – City Pub Company East and City Pub Company West – was founded five years ago by former Fuller's boss John Roberts and entrepreneurs Clive Watson [...]
Standard Life is worried about how Royal Dutch Shell and Volkswagen are being run, promises to escalate its engagement with management as investor bullish on Shell’s dividend outlook March 2, 2016 Fund manager Standard Life Investments has warned Volkswagen and Royal Dutch Shell that it is planning on stepping up its engagement with management over concerns about the companies corporate governance. Writing in its annual governance and stewardship report the investment vehicle said the VW emissions cheating scandal has caused it to be worried about a lack of independence on the German car maker's supervisory [...]
Advertising Standards Authority rules that Google links were misleading Ryanair customers March 2, 2016 The advertising watchdog has ruled that travel comparison site eDreams has been misleading customers through its Google advertisements. The Advertising Standards Authority has been looking into a series of complaints from consumers after Ryanair claimed the website was duping customers who believed they were booking directly with the airline. The budget Irish carrier has also called on search giant Google to remove eDreams [...]