PayPal share price drops on third quarter results October 28, 2015 PayPal's share price dropped by over six per cent in after hours trading after the company reported its first results since splitting from eBay. The online payments firm posted a 15 per cent increase in revenue during the three months to 30 September, up to $2.3bn (£1.5bn) from $1.98bn in the same period of last year. [...]
Not so sweet: Cadbury owner Mondelez posts eighth consecutive quarterly revenue decline October 28, 2015 Mondelez, the global snack company that owns Cadbury chocolate and Oreo cookies, yesterday reported a fall in revenues for the eighth straight quarter, with a particularly bitter European performance. The company's global revenues fell by 17.8 per cent to $6.85bn (£4.49bn), while its European division – its biggest market – saw a 32.4 per cent [...]
Wet summer weather cools sales at Magners and Bulmers owner C&C October 28, 2015 Wet and windy weather in Ireland and Scotland made ice-filled pints of cider a more chilly affair for pub-goers this summer, C&C group said, as the Magners owner reported a drop in sales and profits. The Irish company, which also owns Bulmers and Tennent’s beer, reported a 9.5 per cent fall in operating profit to €62.6m (£45.4m) [...]
Intercontinental Hotels Group share price closes higher as it’s swept up in the M&A rumour mill October 28, 2015 InterContinental Hotels Group (IHG), the world's largest hotel provider by number of rooms, became swept up in M&A fever this afternoon, with shares closing 2.3 per cent higher at 2,548.6p on talk of two of its rivals shacking up. The jump came after suggestions Starwood Hotels & Resorts, which owns the Sheraton and W Hotels brands, was in [...]
Industry watchdog Ofgem brings in new rules to create more competition in the energy market October 28, 2015 The energy connections market is being opened up to competition, thanks to new regulations that come into force this month. Regional distribution network operators (DNOs), which transmit electricity from National Grid to homes and businesses, dominate the £500m market that connects electricity to homes and businesses. But industry watchdog Ofgem has brought in new rules [...]
Alteri takes step forward with Jones Bootmaker acquisition October 28, 2015 A Mayfair-based investment firm set up last year to invest in challenged retailers has bought UK footwear chains Jones Bootmaker and Brantano. Alteri Partners, which is backed by US-based private equity giant Apollo Global Management, said it has agreed to buy the two companies for an undisclosed sum from Dutch retail conglomerate Macintosh. The deal [...]
Vacuum cleaner wars: Bosch to sue Dyson over VW-style cheating claims October 28, 2015 Europe's vacuum cleaner wars just got a little more… heated. Bosch said today that it intends to sue rival Dyson over claims it cheated "like VW" in energy efficiency tests. Karsten Ottenberg, the chief executive of Bosch parent company BSH, said today: "James Dyson has a history of taking a very aggressive approach against his competitors and has a desire [...]
Santander UK non-exec Michael Amato jumps ship to join start-up digital bank Tandem October 28, 2015 A new start-up digital bank has poached high-profile directors from two of Britain's largest lenders. Michael Amato, a non-executive director of Santander UK and former Williams & Glyn John Maltby are set to join the board of Tandem, a new digital financial services company that has yet to receive regulatory approval but is nevertheless aiming for an official [...]
Booming London office demand drives vacancy rates to 15-year low October 28, 2015 London office vacancy rates dropped to a 15-year low during the third quarter of the year, new research shows, as increasing competition made space in the capital increasingly difficult to come by. As the economic recovery gathers pace, demand for office space has surged, thanks to businesses feeling more confident about their future prospects. Fears rents will [...]
RACE to the bottom for Ferrari share price? China sales put on the breaks after Tianjin port explosion October 28, 2015 Shares in freshly-IPOd luxury carmaker Ferrari remained below their IPO price of $52 today after it posted figures showing shipments to Greater China fell 24 per cent in the three months to the end of September. You can't blame the company: parent company Fiat Chrysler, which posted figures at the same time showing shipments to Asia Pacific had fallen [...]