Amazon share price dives as retailer unveils 22 per cent revenue growth and profit misses the mark January 28, 2016 Amazon shares tumbled more than 12 per cent in after hours trading as the company missed profit expectations, despite reporting income had more than doubled year-on-year in the final quarter of 2015 to $482m (£336m) from $214m, or $1.00 per share from $0.45. However, this was significantly wide of analysts' expectations of $1.56 per share. The firm also [...]
Rolls-Royce set to reveal senior management shakeup with dozens of departures January 28, 2016 Rolls-Royce Holdings chief exec Warren East is set to announce a raft of job cuts from the company's senior manager team tomorrow. Around one quarter of the senior managers – up to 50 in total – will leave over the coming months. “We are giving details of the latest stage of our transformation to our [...]
Time Warner Cable profits beat expectations as company reverses tide of declining subscriber numbers January 28, 2016 Time Warner Cable (TWC) posted a better than expected profit of $486m (£338m) for the fourth quarter of 2015, down from $554m in the same quarter of 2014. Revenue rose by 4.9 per cent to $6.07bn during the final three months of last year, up from $5.79bn the year before. The group, which is being bought [...]
BG Group share price rises as shareholders back takeover by Royal Dutch Shell January 28, 2016 In what will be one of the biggest energy deals in decades, BG Group shareholders today gave their blessing to a takeover by its bigger rival Royal Dutch Shell, for around £47bn. Of those that voted, 99.53 per cent of BG shareholders were in favour, and 0.47 per cent were against. It comes a day after [...]
Ford Motor shares drop three per cent despite record profits in 2015 January 28, 2016 Shares in car manufacturer Ford dropped by more than three per cent today, as the company's record profit of $10.8bn (£7.5bn) failed to assuage investor fears over the state of the motor market. The firm increased profit by $3.5bn last year, and doubled quarterly profit to $2.6bn from $1.3bn in the final quarter of 2014. [...]
Retail administrations fall sharply in 2015 as Christmas claims less casualties January 28, 2016 Retail administrations fell by 19 per cent in 2015, new research shows, as the Christmas trading period claimed less victims than in previous years. The number of retailers collapsing into administration fell to 96 from 119 the previous year, according to accountancy firm Deloitte. Company administrations in all sectors in England fell by 12 per [...]
Lloyds’ share price still has encouraging long term outlook despite chancellor George Osborne’s delay January 28, 2016 The chancellor has announced that the planned sale of the government’s shares in Lloyds to the public won’t proceed until turbulent markets have calmed down. This must be a big disappointment to the hundreds and thousands of investors who have registered their interest in the sale. But while the whole of the banking sector has been [...]
Facebook share price jumps after impressive earnings January 28, 2016 Shares in Facebook have rocketed more than 13 per cent as US markets opened after a stellar set of earnings which showed revenue jumping by more than half. The number of active daily users on the platform hit $1.04bn and revenue from advertising jumped 57 per cent, proving monetisation is paying off. That took full year revenue [...]
Lonmin share price falls as it axes 5,000 jobs to weather platinum rout January 28, 2016 Shares in platinum producer Lonmin fell today despite investors initially applauding its efforts to become a lower-cost operator in an increasingly testing market. The Johannesburg-based firm axed 5,077 jobs as of 27 January, or 84.6 per cent of its planned reduction in headcount. The company had faced pressure from the government and labour unions to maintain jobs. "Progress continues with the restructuring programme [...]
TSB results: Chief executive Paul Pester says the big banks have it far too easy as his challenger bank reports 22 per cent increase in customer lending for 2015 January 28, 2016 TSB Bank chief executive Paul Pester told City A.M. that the challenger bank "definitely went from strength to strength" in 2015, as the lender announced its full-year results this morning. The retail and commercial bank, which was carved out of Lloyds Banking Group in 2014, reported profits were ahead of expectations, with management profit before tax of £105.7m, while [...]