New Look on trend and first half sales jump November 10, 2015 New Look has hailed a jump in first half sales and profits, as the fast fashion chain stepped up its expansion in China and launched its first standalone menswear stores in the UK. The retailer, which was snapped up by South African retail mogul Christo Wiese in June, said sales at stores open more than [...]
Valeant chief executive Michael Pearson feels “very good” about next year amid pricing turmoil November 10, 2015 Despite mounting allegations against Valeant over its drug pricing, chief executive Michael Pearson feels “very good” about 2016. In a call with investors today, he said that while the Canadian drug company's dermatology unit will experience “significant impact” from the termination of its contract with pharmacy group Philidor, it will soon begin “regaining momentum”. I don't [...]
Tullow Oil’s share price is now losing ground after gains yesterday November 10, 2015 After having rallied as much as 17 per cent in Monday's trading, Tullow Oil's share price is today one of the biggest losers on the FTSE 250. In late morning trading Tullow Oil was trading 5.13 per cent down at 216.40p. Yesterday Tullow Oil's share price reached 258.55p per share. Read more: Tullow Oil's share price [...]
EU referendum: UBS chairman Axel Weber says Brexit wouldn’t undermine the City November 10, 2015 UBS chairman Axel Weber dismissed concerns about Britain leaving the European Union this morning, saying that a so-called Brexit was unlikely to be a big blow to London’s status as a leading financial hub. “I don’t think it would completely undermine the financial sector of London," Weber said, adding that he thought a Britain outside the European Union would be able to [...]
National Grid moves to assure over power crunch this winter November 10, 2015 National Grid has sought to assure British households that it will be able to keep the lights on this winter. The company's chief executive Steven Holliday said that historically, between 2003-2008, it issued around seven alerts a year. "We have got used to a lower amount, but if we went back to those levels it is not necessarily something [...]
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 [...]