Kate Spade share price rises after fashion company reports strong sales for final quarter of year ended 2 January 2016 and announces expansion into India March 1, 2016 Share price in Kate Spade rose today after the company reported strong sales for its final quarter of its financial year, although its net income fell. The fashion company, which is particularly well-known for its handbag designs, reported net sales for the 52 weeks ending 2 January 2016 of $1.2bn (£860m), up 9.1 per cent [...]
High street banks plan to help Treasury offload £17bn of Bradford and Bingley loans March 1, 2016 Britain’s largest high street banks are planning to help the Treasury offload £17bn of Bradford and Bingley (B&B) loans. The proposal would see Barclays, HSBC, Lloyds, Royal Bank of Scotland, Nationwide and Santander guarantee around £17bn of financing to the purchasers of the loans. It emerged at the beginning of this year that a sizeable part [...]
Moneysupermarket.com share price rises as price comparison company reveals boost in profits and revenues for year ended December 2015 March 1, 2016 Share price in Moneysupermarket.com closed up today after the company revealed a boost to both its profits and revenues in its preliminary results. The price comparison website announced adjusted operating profits for its year ended December 2015 of £100.1m, up 15 per cent from £87.3m the year before. Meanwhile, group revenue grew to £281.7m, up 14 per cent [...]
Jardine Lloyd Thompson Group (JLT) share price rises as company reveals a fall in profits but a rise in revenues for its year ended December 2015 March 1, 2016 Share price in Jardine Lloyd Thompson Group (JLT) closed up today despite the company revealing a fall in profits in its preliminary results. The company, which provides insurance, employee benefits and brokerage services, reported profits before tax of £155m for its year ended December 2015, a decrease of three per cent from £159.7m the year before, as planned [...]
Putin pushes oil price higher as Russian oil firms agree not to increase output in 2016 March 1, 2016 The oil price has been sent sharply higher by comments from Russian president Vladimir Putin, promising Russian oil companies will not increase output this year. The price has soared to highs for 2016, with international benchmark Brent crude trading at $36.83 and West Texas Intermediate going for $34.26 dollars a barrel. Putin was speaking at a meeting with [...]
US car sales surge for Ford and Fiat Chrysler, as General Motors slumps March 1, 2016 Automobile sales have continued to surge in the US, with Ford the latest company to reveal stand out numbers that have blown analyst expectations out of the water. Ford’s total sales in February grew by 20 per cent compared to a year ago, with some 217,000 vehicles sold. Retail sales grew 11 per cent, making [...]
US manufacturing suffers fifth month of contraction – ISM PMI March 1, 2016 The US manufacturing sector contracted for a fifth consecutive month in February, according to new survey data. The Institute for Supply Management's (ISM) purchasing managers' index rose to a score of 49.5 from January's 48.2. Scores below 50 indicate contraction. Production rose despite export growth falling into negative territory. A similar survey of US factories suggested growth had dropped to [...]
Barclays share price drops and Ashtead Group falls but FTSE 100 index rises as London Stock Exchange and Direct Line jump March 1, 2016 After a frankly uneventful day yesterday, the FTSE 100 index bounced higher today despite the latest PMI data showed China's manufacturing sector shrinking. The UK's blue-chip index rose 0.92 per cent to 6,152 points, as investors contemplated a corporate results onslaught. Good news was to be found with the London Stock Exchange Group, which jumped 7.17 per cent [...]
Companies warned over the risk of foreign exchange swings as volatility set to continue throughout 2016 March 1, 2016 International companies are being warned that swings in the value of the pound mean risk is building in the foreign exchange market as levels of uncertainty in 2016 are anticipated to be similar to last year. The pound has dropped considerably against both the dollar and the euro so far this year as worries around a [...]
The number and wealth of the world’s billionaires has peaked – but Mark Zuckerberg is the biggest riser March 1, 2016 The number of billionaires in the world peaked at a record high last year and has begun to drop, according to a new ranking – which added that the average wealth of the world's billionaires has also begun to fall. Forbes' 2016 Billionaires List showed the number of billionaires in the world has fallen to 1,810, from [...]