Emerging market slowdown wipes £79bn off the value of Britain’s biggest firms November 4, 2015 One day after Standard Chartered’s “disappointing” third-quarter results sent the Asia-focused bank’s share price down nearly 10 per cent during trading, City A.M. analysis reveals that the slowdown in China and other emerging markets has wiped off around £79bn from some of Britain’s biggest businesses. Eight blue-chip companies have seen their combined market cap plummet by £78.7bn [...]
Shop prices drop for 30th month in a row as competition heats up ahead of Christmas November 4, 2015 UK shop prices fell in October for the 30th month in a row, dragged down by low commodity prices and fierce competition among retailers ahead of the crucial Christmas period. Prices fell by 1.8 per cent on the year, figures for the British Retail Consortium (BRC) and Nielsen show, which was a slight slowdown on [...]
Online marketplace Etsy all made up with 38pc revenue growth but shares tumble November 3, 2015 Etsy's share price dropped by 6.89 per cent after the close last night, as despite revealing revenue growth of 38 per cent for its third quarter of 2015, springing from $47.6m (£30.9m) in its third quarter of 2014 to $65.7m. The virtual marketplace also saw its active sellers grow 19 per cent to 1.5m and its active buyers [...]
Groupon reveals Rich Williams as new CEO as revenue dips to $713.6m for third quarter of 2015 November 3, 2015 Groupon has announced that current chief operating officer Rich Williams is to be the company’s next chief executive officer. Eric Lefkofsky, the company’s current CEO, will continue on with the company as chairman of the board of directors, and current chairman Ted Leonsis will become lead independent director. The announcement came at the same time [...]
Farmville creator Zynga zooms into profit with net income of $3.1m for third quarter of 2015 November 3, 2015 Zynga has entered the black, posting net income of $3.1m for its third quarter of 2015 with several new games pushing the firm's performance ahead. Shares in the company, which created Farmville and Words With Friends among several other games, went up by 1.22 per cent in after hours trading. By comparison, the social gaming developer made a [...]
Terry Smith slams investors as Fundsmith posts 18.5 per cent returns over the past year November 3, 2015 Terry Smith’s Fundsmith equity fund celebrated its fifth anniversary yesterday by announcing returns of 18.5 per cent for the full year ending in October, and assets under management of £4.1bn. This brings cumulative returns since the fund was created to 121 per cent, equivalent to annualised returns of 17.2 per cent, outperforming funds in the [...]
Just Eat share price drops eight per cent despite orders up 64 per cent November 3, 2015 Online home delivery marketplace JUST EAT failed to deliver for investors despite offering them a tasty 64 per cent increase in orders in its third quarter trading update. Shares closed down 1.63 cent, at 433.7p, having dropped as low as 408.2p, during trading. [stockChart code="JE." date="2015-11-03 17:00"] The company reported that the poor summer weather [...]
Standard Chartered results: Investors are backing Bill Winters while analysts raise red flags November 3, 2015 Standard Chartered may have posted another “disappointing” set of results, but the Asia-focused bank’s biggest investors are enthusiastically backing new chief executive Bill Winters. Winters announced earlier today that he planned to axe 15,000 jobs and raise $5.1bn (£3.3bn) in capital, as the bank posted an operating loss of $139m in the third quarter. Revenue had [...]
Ford and General Motors US sales hit full speed – as Volkswagen eases on the brakes November 3, 2015 As the emissions scandal of Europe's largest car marker continues apace, across the pond, things have been rather less fraught, after both General Motors and Ford reported encouraging sales in October. Even Volkswagen managed to edge up… General Motors sold 262,993 cars in the US in October, 16 per cent higher than this time last year. [...]
World Wealth: Britain crowned fifth richest country in the world behind US, China, Japan and Germany November 3, 2015 The UK has been crowned the world’s fifth richest country in the world in a new report that measures the total wealth amassed by each country’s individuals. Britain’s population holds $9.24 trillion (£6.01 trillion) in private wealth, surpassing France, Italy, Canada and Australia. This is despite its relatively small population compared with countries such as Germany, [...]