Twitter share price breaks a new record but not in a good way, falling to a new low of under $16 within an hour of the New York market opening January 20, 2016 Just when you thought the Twitter share price couldn't fall any lower, it only goes and breaks the $16 mark. After closing on the New York Stock Exchange yesterday at an all-time low of $16.69, Twitter's shares have continued to tumble today, dipping below $16 within an hour of the market opening. Shortly after 3pm London [...]
Gazprom boss Viktor Zubkov warns EU of impending gas crisis due to Brussels policy January 20, 2016 Energy giant Gazprom today warned the European Union that its energy markets could be plunged into crisis unless Brussels revises its “contradictory” energy prices. Energy companies have been forced to make deep cost cuts in order to weather the global commodity price rout which started around 18 months ago. Speaking at a conference in Vienna, [...]
TalkTalk hack: Customers flee telco firm after high-profile cyber attack January 20, 2016 Customers are fleeing TalkTalk, with the embattled telco firm’s market share dropping sharply since the high-profile data hack exposing personal data. TalkTalk has lost 4.4 percentage points of its home telecoms services market share, with its slice of the pie down to a mere nine per cent, according to market researchers Kantar Worldpanel. Over 150,000 [...]
Goldman Sachs posts third straight quarter of sliding profits January 20, 2016 Goldman Sachs reported a sharp drop in fourth-quarter profit today, after a $5bn (£3.5bn) legal settlement weighed on the investment bank's costs in the last three months of 2015. Goldman reported a 71.8 per cent fall in net income applicable to common shareholders to $574m, or $1.27 per share, from $2.03bn, or $4.38 per share, a year [...]
Pets at Home share price jumps as it shakes off flea problem January 20, 2016 Pets at Home shares have risen by five per cent in early morning trading as the retailer put a bad flea season behind it and expanded with seven new superstores across the UK. The FTSE 250 pet products and services retailer said like-for-like sales rose by 2.2 per cent in the third quarter to 31 [...]
FTSE 100 index closes in a bear market as the price of oil falls further January 20, 2016 The FTSE 100 index officially fell into a bear market on Wednesday as the price of oil continued to slide. The UK's blue-chip index fell 3.46 per cent to 5,673 points, falling over 20 per cent from the high it reached in April 2015. "Few stocks were spared today as European equity markets plunged sharply today with the FTSE 100 [...]
BHP Billiton share price falls as it announces more impairment charges and iron ore production guidance January 20, 2016 BHP Billiton languished towards the bottom of the FTSE today, after the mining giant's first half operational review laid bare the impact of plunging global commodity prices on its balance sheet. The company said it would take an additional $300m (£211.6m) to $450m in impairment charges from its first-half earnings, due to redundancies, inventory write-downs as well as royalty and taxation matters. [...]
Volkswagen emissions scandal: Why VW may not be last carmaker to rock the auto industry January 20, 2016 The week the latest twist in the ongoing Volkswagen saga emerged. Apparently none too happy with its behaviour, some UK investors will be taking action against the firm over lost earnings in the wake of the emissions fixing scandal. But VW and Renault are not the first major car firms to run into difficulties, and [...]
Another steelmaker Sheffield forgemasters is axing up to 100 jobs January 20, 2016 Sheffield Forgemasters, the UK's largest independent steel maker, is axing up to 100 jobs as the crisis engulfing Britain's steel industry deepens. It comes two days after Tata Steel, the UK's largest steel maker, said it would cut 1,050 jobs, mostly at Port Talbot in South Wales. "This is undoubtedly a long period of industry contraction, with major recovery seemingly [...]
Zurich share price plunges as it warns losses from storms Desmond, Eva and Frank will hit $275m January 20, 2016 Zurich Insurance Group today announced estimated losses from storms Desmond, Eva and Frank will hit $275m (£194m). Because of the large amount of payouts the company is expecting to make in relation to flood damage, as well as other recent natural disasters, it also warned of a fall in operating losses for its general insurance business in the fourth quarter of 2015. [...]