Forex scandal: Barclays, HSBC and RBS agree to £600m fine for foreign exchange rigging October 22, 2015 Three of Britain’s biggest banks were slapped with a $924m (£600m) bill for rigging foreign-exchange markets yesterday. Barclays, HSBC and RBS agreed the bill during a US federal court hearing, according to reports from Sky News. Barclays agreed to pay $384m, HSBC $285m and RBS $255m, people with familiar with the settlements said. French bank [...]
Alphabet share price jumps as group reveals profit surge in first results since dropping Google name October 22, 2015 Shares in online giant Google have jumped by over 10 per cent in after hours trading after the company revealed a 13 per cent jump in revenue to $18.7bn (£12.2bn) in the three months to 30 September. Net income rose to $3.98bn from $2.74bn, and excluding one-off items, earnings per share rose to $7.35, ahead [...]
Slow and steady growth for Grant Thornton as profits and revenues both rise October 22, 2015 Professional services firm Grant Thornton reported full-year profits were up to £78.6m from £77.9m in 2014 on the back of revenues, which rose from £512m to £521m. Revenue grew at a slower pace, up 1.6 per cent, compared with a nine per cent rise last year. The firm said it had seen several major projects [...]
Toy story: Hamleys close to being taken over by owners who are planning department store expansion October 22, 2015 Famous London Toy shop Hamleys is close to being taken over by a Chinese retailer who wants to set up shop in more locations. C.banner International said in a statement today that it is in talks with Ludendo Enterprises, the current owner of the Regent Street giant, which is said to be the oldest toy [...]
Anglo dividend at risk after poor quarter update October 22, 2015 Anglo American is expected to be the latest mining giant to slash its dividend, after a disappointing third-quarter update in which its downgraded its full-year production guidance for many of its key commodities. The FTSE 100 firm has struggled like the rest of the sector due to slowed demand and surplus supply, which has put immense [...]
Dr Pepper Snapple Group raises earnings outlook as sales volumes jump during third quarter October 22, 2015 American soft drinks giant Dr Pepper Snapple Group raised its full-year earnings outlook today, after better-than-expected third quarter results that showed a nine per cent rise in core earnings. The NYSE-listed firm now expects full-year core earnings per share to be in the $3.92 (£2.55) to $3.98 range, up from an earlier forecast of $3.85 to [...]
Ladbrokes share price soars despite profits plunging 56.7 per cent October 22, 2015 Ladbrokes' share priced soared up 8.43 per cent in trading today, despite reporting that profits for the last three months more than halved to £14.3m thanks to an increased marketing spend. The betting company announced it was spending more than 30 per cent of its net revenue on advertising to increase its customer base, which [...]
Eurotunnel posts three per cent rise in revenues in spite of Calais migrant chaos October 22, 2015 Eurotunnel, the company which operates the Channel tunnel reported rail traffic plummeted by a third over the three months to the end of September, thanks to “intense migrant pressure” disrupting operations in Calais. From July to September just 459 freight trains used the tunnel, down from 681 a year ago, and tonnage tumbled 27 per cent. [...]
Post-it maker 3M to cut 1,500 jobs on falling sales October 22, 2015 3M is cutting 1,500 jobs, as drooping sales have forced the US manufacturing giant to slash its profit forecast for the year. Jobs will be lost across US, Europe and Latin America for the manufacturer, which counts Scotch Tape and Post-it Notes among its many products. The company reported sales tumbling 5.2 per cent in [...]
Mortgage lending rises sharply in September for the fourth month in a row October 22, 2015 The amount of mortgage lending to UK homebuyers jumped by 12 per cent in the year to September as rising employment and earnings growth helped keep confidence levels high. Gross mortgage lending reached £20bn in September, up from £17.8bn the same time last year and two per cent higher than August’s lending total of £19.7bn, [...]