Apple share price drops below $100 on reports of slowing iPhone 6S and 6S Plus shipments January 6, 2016 Apple shares slumped below $100 for the first time in months as production cuts refuelled worries that demand for iPhones is weakening. Investors were rattled by reports yesterday that Apple was expected to cut production of both the latest iPhone models 6S and 6S Plus by 30 per cent in the first quarter of 2016, [...]
FCA launches probe over alleged bond market rigging by trader at Lloyds Banking Group January 6, 2016 The City’s watchdog has launched a probe into whether the UK government bond market was manipulated by a trader at Lloyds Banking Group. The Financial Conduct Authority (FCA) is looking into whether at least one Lloyds trader sought to increase profits by driving down the price of the bonds or by inflating their prices when [...]
CES 2016: Netflix share price jumps on expansion to 130 new countries, including India, Singapore and Saudi Arabia – but not China January 6, 2016 Netflix chief executive Reed Hastings had a big announcement up his sleeve for his keynote speech at the Consumer Electronics Show (CES): Netflix is going live in 130 new countries, tripling the streaming giant’s distribution in one fell swoop. The expansion makes Netflix really global, as new countries include India, Saudi Arabia, Turkey, Vietnam, Indonesia [...]
Mergermarket buys London-based Creditflux as private equity owner BC Partners looks for global growth through acquisitions January 6, 2016 Mergermarket, the online financial news service, has bought Creditflux, a London-based data provider, for an undisclosed sum. The acquisition is the latest in Mergermarket’s recent shopping spree, having bought four businesses in as many months: due diligence service C6, private equity and venture capital news provider Unquote and the Asian Venture Capital Journal. Mergermarket is [...]
Topps Tiles nails start to the year as Britons spruce up their homes January 6, 2016 Topps Tiles enjoyed a jump in sales over the last three months, thanks to improving consumer confidence and a rise people doing up their homes. Like-for-like sales increased by 4.4 per cent in the first 13 weeks of its new financial year to 2 January. That compared with a 5.2 per cent rise in the same [...]
FTSE 100 index closes down as concerns over China cause mining stocks to fall January 6, 2016 The FTSE 100 index closed down today, dragged lower by mining stocks as concerns over China continued. The index closed 1.04 per cent down at 6,073 points, despite strong gains made by BAE Systems. "BAE topped the FTSE 100, as investors sought out defence stocks after North Korea’s nuclear weapon test," said Jasper Lawler, an analyst at [...]
Payday lender Cash Genie folds after agreeing £20m redress deal with the Financial Conduct Authority January 6, 2016 Payday lender Cash Genie has collapsed into administration, just six months after it agreed to a £20m redress package for unfair practises with Britain's financial watchdog. The administration is being handled by liquidator RSM Restructuring Advisory LLP. However, with around £1.5m of funds remaining unclaimed, RSM is working to trace customers who are yet to redress [...]
Former Asda executive Paul Kelly faces prison over £180,000 flood victims fraud January 6, 2016 A former Asda executive could face time in prison after defrauding the supermarket's charity fund of £180,000. Paul Kelly, a former vice-president of corporate affairs at the Leeds-based firm, pleaded guilty to seven counts of fraud at Leeds Crown Court on Monday after diverting money that was intended for assisting flood victims to support his partner's ballet company, Murley Dance, [...]
FTSE 100 index trades lower on miners despite gains in Royal Mail’s share price, BAE Systems and Sainsbury’s January 6, 2016 The FTSE 100 index was trading lower in early afternoon trading as miners became lighter after gains made yesterday. The UK's blue-chip index fell 1.58 per cent to 6,040 points, despite a strong jump by Royal Mail. Royal Mail's share price rose 1.14 per cent to 442.2p, the day after its stock was upgraded to "buy" from "hold" by Cantor Fitzgerald, [...]
Apple iPhone 6s and 6s Plus: Production cut reports send shares lower January 6, 2016 Apple is to cut production of its newest handsets, the iPhone 6s and 6s Plus, by as much as 30 per cent, according to reports – which sent shares sliding. Production of the handsets will be reduced in the first quarter of the 2016, Nikkei reported, as inventory piles up in developed markets such as Europe and China [...]