Standard & Poor’s puts Syngenta on negative watch after ChemChina bid February 5, 2016 Credit ratings agency Standard & Poor's (S&P) has placed Syngenta on negative watch, following the Swiss pesticide and seed giant's acceptance of a $43bn (£29.7bn) bid from China state-owned firm ChemChina. S&P said it's placed Syngenta's "A+" long-term credit rating and "A-1" short-term credit rating on negative watch, saying they could be lowered if and when the deal with ChemChina closes. "While the [...]
Apple expands “Reuse and Recycle” programme to let people trade in their broken iPhone February 5, 2016 Apple is finally letting iPhone owners cash in their broken models to upgrade to the latest version. The tech giant is expanding its so-called “Reuse and Recycle” programme to allow customers to sell their broken phones for credit they can then use to upgrade to a new phone. Previously, this programme was limited to phones [...]
Quindell buyer Slater and Gordon’s UK chief executive steps down February 5, 2016 The UK chief executive of the law firm which bought the professional services of arm of embattled Quindell last year has stepped down. Neil Kinsella was the first chief executive of Slater and Gordon from 2012 to 2013, after it took over Russell Jones and Walker (RJW), before becoming its interim head of general law. He was [...]
LinkedIn shares are in freefall after issuing downbeat financial forecast February 5, 2016 LinkedIn shares are plummeting, down 37 per cent as markets opened in the US. The falling share prices comes after LinkedIn issued a downbeat financial forecast for 2016. The social media giant said it forecast earnings of $0.55 per share, well below analysts' expectations of $0.74 per share. Read more: Which tech giant makes $1,409 profit [...]
Imperial Tobacco is rebranding to Imperial Brands February 5, 2016 Imperial Tobacco is rebranding. In a surprise move, the FTSE-listed tobacco giant best known for its Davidoff and Gauloises brands has moved to distance itself from tobacco. From now on, its opting instead for the more mysterious name Imperial Brands. Imperial’s new name, approved by shareholders at the AGM on Wednesday, will come into effect [...]
CMC Markets’ share price falls during first morning of public trading, after IPO valued firm at £691m February 5, 2016 CMC Markets' share price fell during its first morning of trading on the London Stock Exchange, despite having already listed at the lower end of its price range. The spreadbetter priced its shares as 240p, giving the firm a valuation of £691m, for its debut on the main market today – lower than the £730m originally expected. [...]
Anglo American and Glencore share price: Mining stocks are surging again February 5, 2016 Shares in some of the biggest London-listed miners reversed earlier falls to rally for a second day in a row this morning. They finished at the top of the FTSE yesterday due to the tumbling US dollar, which sent gold to a fresh three-month high and helped copper to its highest level in a month. Anglo American shares [...]
FTSE 100 index opens ahead of US jobs data as miners’ share prices continue to rise February 5, 2016 The FTSE 100 index opened higher this morning ahead of the publication of US jobs data, which investors will be eyeing for signs of when the Federal Reserve will next raise interest rates. The UK's blue-chip index was 0.52 per cent up at 5,931 points in mid-morning trading, as miners recouped losses made when the market [...]
Steel crisis: World’s largest steelmaker ArcelorMittal taps investors for $3bn February 5, 2016 The world's largest steelmaker has been forced to ask its investors for a $3bn (£2bn), as it suffers from the Chinese industry's overcapacity which is blames for driving down steel prices. ArcelorMittal, which is based in Luxembourg, reported core profit dropped 32 per cent last year to $5.2bn and warned the result this year would only be "in excess [...]
Amazon to launch physical bookstore? Why the etailer has done a 180 on bricks and clicks February 5, 2016 With the news that Amazon is set to open 400 book stores in the US, some could say it’s taking the ‘old fashioned’ route to retail that it had originally disrupted. What are the drivers? One word: leisure. While convenience has become a modern shopping fixation – with brands feeding it constantly, creating new and smarter [...]