Petroceltic share price soars on buyout interest from shareholder Worldview January 22, 2016 Shares in Irish oil and gas explorer Petroceltic leapt this morning on the news it could be bought out by its biggest shareholder, hedge fund Worldview Capital. Petroceltic shares rose as much as 108.69 per cent to 24p per share after activist investor Worldview confirmed its interest in the London-listed company. They'd had fallen from £2.21 in October 2014, in the wake of a [...]
Tesco to drop diesel prices further to 97.7p from today January 22, 2016 Tesco has said it will drop its diesel prices even further, committing to lowering the price of the fuel to 97.7p at all of its 500 filling stations from midday today. The supermarket was one of many to bring the price of diesel below £1 at the start of the year, alongside Sainsbury's, Asda and Morrisons, [...]
Moody’s puts 120 energy firms on downward review as oil prices tumble January 22, 2016 Moody's is reviewing the ratings of 120 oil and gas companies after it lowered its price forecast for oil this year. The credit ratings agency cut its forecast for Brent and West Texas Intermediate to $33 per barrel, rising by $5 per barrel in 2017 and 2018. Some analysts, including those at StanChart, have warned oil could fall [...]
Google has paid Apple $1bn to keep its search on iPhones – and has generated over $36bn from Android January 22, 2016 Google is paying a pretty penny to remain the default search bar on Apple’s iPhones. The tech giant paid its rival $1bn in 2014 to keep its search engine on iOS products like iPhones and iPads, court records have shown. Apple was also reportedly raking in a 34 per cent slice of Google’s sales through iOS devices [...]
Amazon to create thousands more jobs in Europe and UK in fulfillment, R&D and software development January 22, 2016 Amazon is going on a major hiring spree as the etailer ramps up its operation across Europe and the UK. The retailer said many of the new jobs – of which 2,500 will be in the UK – will help expand its European fulfilment network, as well as focusing on EU-based research and development. The new roles [...]
Boeing cuts production of 747-8 cargo planes resulting in a $569m charge in its fourth quarter results January 21, 2016 Boeing is the cutting down production of its 747-8 cargo planes, resulting in a $569m ($340m) post-tax write-down in its fourth quarter 2015 results. Thanks to a sluggish market, Boeing will slow production of the planes from one aircraft a month, to one every two months. The charge comes to $0.84 a share. Ray Conner, Boeing vice chairman, and [...]
Starbucks reports record revenue in its first quarter results but share price tumbles January 21, 2016 Starbucks share price plummeted 4.55 per cent to $56.28 after markets closed when it revealed its first quarter trading figures for 2016. The figures Net revenue was a record $5.37bn (£3.78bn), up 12 per cent from 2015. Net profits fell however, to $687.6m, from $983m the year before. Profits before tax fell 19.2 per cent [...]
Land Securities bucks the trend as customers flock to its shopping centres January 21, 2016 Land Securities said visitors to its shopping centres hit record levels in the third quarter, after a change in its strategy to focus on better quality properties paid off. The listed property giant, which owns Bluewater shopping centre in Kent as well as Trinity in Leeds, said footfall rose by 1.7 per cent in the [...]
Virgin Media cuts 900 jobs in the UK as it continues its plan to grow the company’s ultrafast broadband network January 21, 2016 Virgin Media is cutting 900 jobs in the UK over the next two years, and has begun consulting with the employees affected. The company said it was restructuring in order to expand, and would continue to create new roles and recruit in areas driving growth. One such area of growth is Virgin Media's five year programme to [...]
Investment banking giant JP Morgan is actually encouraging its workers to take time off – and fast-tracking January 21, 2016 Investment banking: it's not usually associated with a softly, softly approach when it comes to HR. But that's all about to change – after a new policy introduced by US giant JP Morgan means workers will be encouraged to take time off at weekends. The so-called Pencils Down initiative was designed to be "realistic to what this [...]