Barratt, Berkeley Group, Persimmon and Taylor Wimpey share prices fall as Liberum brands housebuilders “overvalued” November 3, 2015 Is this another sign of the much-anticipated bubble? Shares in some of the UK's largest housebuilders fell this morning after one broker downgraded them to "sell". In a note this morning, Charlie Campbell of Liberum cut Barratt, Persimmon and Taylor Wimpey, saying the largest housebuilders' valuations were "too optimistic". All three were among the biggest fallers on [...]
Shell’s chief executive Ben van Beurden announces an extra $1bn of savings to make $70bn BG deal work with low oil prices November 3, 2015 Royal Dutch Shell chief executive Ben van Beurden sought to reassure investors today that Shell's planned takeover of rival BG group will still work, assuming oil prices stabilise at around $60 a barrel. The deal, which is expected to complete early in 2016 and could be worth as much as $70bn (£45.3bn), is one of the biggest mergers announced [...]
Tullow Oil’s share price is rallying as investors cheer maintained bank lending limit November 3, 2015 Tullow Oil's share price is leading the FTSE 250 today, as investors celebrated banks maintaining lending to the company. In mid-morning trading the oil and gas producer's share price was up 14.03 per cent up at 227.8p. This goes against the trend of oil producing companies of late, who have suffered due to global supply glut concerns. [...]
Forget clicks vs bricks: Amazon is opening its first physical bookshop Amazon Books today in Seattle November 3, 2015 If you needed further proof that the distinction between clicks and bricks is a thing of the past, look no further. Strange as it may sound, Amazon is moving firmly into the physical world with Amazon Books. The online retail giant is opening its first real bookshop in Seattle today. Unlike the online marketplace, though, [...]
Imperial Tobacco profits rise despite drooping cigarette sales November 3, 2015 Cigarette sales are down for the FTSE-listed tobacco firm, despite an increase in growth for brands like Davidoff and Gauloises. The figures Imperial Tobacco reported full year profits of £3.05bn, up 2.4 per cent from £2.98bn last year. Net sales of tobacco are down 2.6 per cent to £6.25bn, but volume of the company’s “growth [...]
Profits and revenue fall at Primark’s parent company Associated British Foods – but will still pay a dividend November 3, 2015 Primark parent company Associated British Foods (ABF) has said it will still pay a dividend, despite falls in both profit and revenue for the year to 12 September. The figures Adjusted operating profit was down six per cent in real terms, or four per cent on a constant currency basis, to £1.09bn, while group revenue [...]
Standard Chartered share price plummets on 15,000 job cuts as part of $5.1bn-plan to rebuild troubled bank November 3, 2015 Standard Chartered is cutting 15,000 jobs as it looks to shore the business up after posting “disappointing” third quarter results this morning. The figures The Hong Kong bank reported revenues of $3.7bn for the quarter ending 30 September, down from $4.5bn for the same period last year. This fell short of the $4.1bn forecast by most [...]
Hey big spender! US firms splash out a record $1.8 trillion on M&A as 2015 marks return of the mega-deal November 3, 2015 US companies have spent a record $1.8 trillion on mergers and acquisitions (M&A) this year as they scramble to offload huge cash piles before an expected increase in interest rates. The figures, from Dealogic, include Visa Inc’s $23.4bn (£15bn) purchase of Visa Europe yesterday, the latest in a frenzy of multi-billion dollar mega deals signed off in [...]
UK businesses to face squeeze in rents over next 12 months November 3, 2015 UK business are predicted to come under increasing pressure from rising rents as the economy gathers pace and competition for space heats up, the Royal Institute of Chartered Surveyors (RICS) has warned. In its latest commercial market survey, RICS forecasts that UK rental values will jump by four per cent over the next 12 months. Businesses [...]
Fitbit sees revenue soar 168pc for its third quarter of 2015, but share prices plummet November 2, 2015 Fitbit has announced revenue of $409.3m for its third quarter of 2015, an increase of 168 per cent from $152.9m compared to the same period in 2014. “Fitbit’s third quarter results demonstrated the continued rapid growth of the Fitbit platform and our team’s ability to execute on the tremendous opportunity we see globally, as we [...]