Moody’s and S&P cut credit ratings for AstraZeneca November 10, 2015 Moody's and S&P both lowered their credit ratings for AstraZeneca today, highlighting the company's plight as it tries to tackle a number of looming patent expirations. S&P cut its rating from "A+" to "A", while Moody's lowered its rating from "stable" to "negative". The former said it did not expect a significant recovery in profits [...]
Prudential share price dips as it unveils net outflows of £2.7bn at asset management arm M&G November 10, 2015 Prudential's asset management division M&G failed to impress in its third quarter of 2015, today reporting net outflows of £2.7bn for the last three months. M&G's retail business was particularly badly hit, with net outflows for the quarter of £3.9bn, compared to net inflows in its institutional business of £1.2bn. Share price in the company dropped [...]
Vodafone share price back in positive territory on better-than-expected results despite terminated talks with Liberty Global November 10, 2015 Despite cancelled merger talks with Liberty Global disappointing shareholders, Vodafone shows it’s well back on track with sales smashing expectations. The figures Vodafone posted first half results showing the company’s organic service revenue rose one per cent to £18.4bn in the six months to 30 September. This outstripped most analysts’ forecasts, which hovered around 0.8 per [...]
Hornby share price dips as it warns on full year profits, revenues despite turnaround plan building steam November 10, 2015 Shares in Thomas & Friends manufacturer Hornby fell almost six per cent to 91.25p in early trading, after it admitted full year profits and revenues will be lower than expected as it attempts to build up steam on its turnaround plan. The group is expecting to make a "disappointing" pre-tax loss of £2m this year, although it [...]
National Grid kicks off sale of UK gas distribution business November 10, 2015 UK power operator National Grid has kicked off the process of flogging a majority stake in its gas distribution business. The figures The UK electricity and natural gas operator reported a 21 per cent jump in its adjusted pre-tax profits, up from £1.14bn to £1.37bn, in the six months to 30 September. Earnings per share were also up [...]
Sharm el-Sheikh Metrojet A321 Russian airliner plane crash raises concerns over airport security costs November 10, 2015 Thousands of tourists stranded in the Egyptian beach resort of Sharm el-Sheikh are continuing to be brought home this morning, amid concerns businesses could have to absorb the cost of increased security. The foreign secretary Philip Hammond said that if the crash in Egypt is found to have been caused by a bomb, increased security at airports [...]
Cranes fill London’s skyline as office building activity hits seven-year high November 10, 2015 Building activity in central London has jumped by 28 per cent in the last six months to a reach a seven-year high, according to data released today. Deloitte Real Estate’s latest Crane Survey, which tracks building activity across the capital, said there were 26 new starts in the period totalling three million square feet and [...]
Hunger Games production firm Lionsgate posts $42m loss for the third quarter November 9, 2015 Lionsgate, the company that produced the Hunger Games, American Pscycho and the gruesome Saw series, recorded a loss of $42.1m (£27.9m) in the three months to September. The company posted a profit of $20.8m during the same period a year ago. However, the firm expects a twist in the tale with Orange is the New Black and the [...]
Equities may not survive aggressive dollar – eToro Tips & Picks November 9, 2015 There is only one place to start this week, and that’s the jobs report. Given all the attention on last week’s stellar non-farm payroll report, however, many have overlooked the average earnings reading, despite it being far more important at this point in time. It now looks likely that Janet Yellen will increase interest [...]
E.on slapped with £7m fine over failure to supply customers with smart meters November 9, 2015 Utility giant E.on will be fined £7m by the Gas and Electricity Markets Authority for failing to supply its business customers with smart meters. The Big Six supplier has agreed to pay the fine to the Carbon Trust for missing an April deadline to ensure 20,000 of its eligible business users had access to the energy-saving [...]