Hewlett-Packard’s share price rallies as the company splits in two November 2, 2015 Shares in the two newly spun-out arms of the company formerly known as Hewlett-Packard rose today, after the embattled printer manufacturer split into two. Shares in HP Inc, which includes the company's personal computer and printer businesses, were up 12.5 per cent at $13.78 in lunchtime trading in New York. Meanwhile Hewlett Packard Enterprise – dubbed "the $53bn [...]
Skype founders take on 24-hour delivery market with launch of self-driving robot November 2, 2015 Forget delivery vans or even using your legs to walk to the shops for that matter. The founders of Skype plan to shake-up the grocery delivery market with a fleet of self-driving robots that will be able to drop groceries on your doorstep within 30 minutes. Starship Technologies, founded by Skype’s Ahti Heinla and Janus Friis, has [...]
Franco Manca owner strikes franchise deal to expand burger joint Bukowski November 2, 2015 City restaurateur David Page’s leisure vehicle Fulham Shore has become the latest company to cash in on the “posh burger” craze after striking a deal to expand American-style barbecue joint Bukowski Grill. The Aim-listed company, which snapped up sourdough pizza company Franco Manca earlier this year, said it has entered a franchise agreement with Bukowski’s [...]
Shire Pharmaceuticals agrees to buy Dyax in $5.9bn deal November 2, 2015 Shire has been shopping. The FTSE-listed pharma giant has agreed to buy Dyax, a US biotech company, in a deal worth $5.9bn (£3.81bn). Funding the deal with a $5.6bn loan, Shire expects earnings to be “slightly” hurt by the takeover in the next two years, but come 2018 it’ll all be worth it as the [...]
Visa Inc share price down as it agrees to buy former subsidiary Visa Europe for €21.2bn November 2, 2015 Visa Inc announced this morning it has reached a deal to buy its former subsidiary Visa Europe for as much as €21.2bn (£15bn). The consolidation of Visa Europe's 500 million card accounts, worth more than €1.5 trillion, will create a single global payments company. The upfront payment comprises of €11.5bn in cash and €5bn-worth of preferred stock (which pays fixed dividends, taking [...]
City A.M. Awards 2015: Celebrating the best of the business world November 2, 2015 It has been a memorable year for the City, with milestones seemingly being met every week. In the last few months alone we’ve reported on some impressive trends and grounds for celebration. Financial services are powering a jobs boom, with employment in the City at an all time high. London’s tech sector has attracted record amounts [...]
Quindell share price falls as shareholders get £415m payout after deal with Slater & Gordon November 2, 2015 Quindell shareholders haven’t had a lot to smile about recently, but today the troubled insurance claims processor announced they would be rewarded with a £415m payout. The company, currently under investigation by the Serious Fraud Office (SFO) for its “aggressive” accounting practices, has had legal claims brought against it by a group believed to be [...]
Ryanair share price rises with airline expecting full year profits and traffic numbers to fly November 2, 2015 Profits are soaring for Ryanair, as the low-cost airline expects full year profits to reach the upper end of a range which was recently adjusted upwards. The figures Half year profits jumped 37 per cent to €1.09bn (£780m) in the first half to 31 October. Revenue was €4.04bn, up 14 per cent from the same period last [...]
HSBC share price down sinks despite smashes expectations and shrugging off China slowdown – but no news on headquarters move November 2, 2015 HSBC has beaten expectations for profits in the third quarter, shrugging off the slowdown in China. The figures The UK’s biggest bank reported a jump in pre-tax profit to $6.1bn (£3.95bn) for the third quarter, from $4.6bn during the same period last year. This outstripped most analysts’ expectations, which hovered around $5.2bn. Revenues, however, fell four per cent year-on-year, [...]
HMV and Game steal entertainment market share from Amazon in run-up to Black Friday 2015 UK sales November 2, 2015 HMV, Game Digital and Argos staged a comeback in the last three months after growing sales of video games, CDs and DVDs at the expense of their online rival Amazon. Figures released this morning by Kantar Worldpanel show that Amazon’s share of the physical entertainment market shrank by 1.2 percentage points (pp) in the 12 [...]