Former Financial Times owner Pearson share price up as publishing company reveals loss before tax for year ended December 2015 as sales also take a knock February 26, 2016 Share price in Pearson rose this morning as the publishing company revealed it had fallen into a loss-making position and its sales had dipped slightly. The publisher reported a loss before tax of £433m for its year ended December 2015, down from a profit before tax of £255m the year before. Meanwhile, levels of sales [...]
London workers did nearly £9,000 of unpaid overtime last year – as the UK racks up £31.5bn of unpaid work February 26, 2016 We're all used to putting in those extra few hours a week – but how much would you make if you were actually paid for it? New research has calculated that the average London worker could have made an extra £8,669 last year… The research by the Trades Union Congress, found 5.1m UK workers collectively [...]
Sports Direct ditches controversial Mike Ashley loan facility over “unjustified criticism” February 26, 2016 It seems Mike Ashley's feelings have been hurt. Sports Direct has said it will no longer draw on a loan facility provided to it by Ashley, its founder. In an unusual statement this morning, the company said although it expects its borrowing requirements to be "consistently in excess" of the £263m it has drawn on [...]
Asian markets recover on G20 hopes – but Sharp shares fall after Foxconn delay February 26, 2016 After sharp falls yesterday, shares in China recovered overnight, after the country's central banker showed told a G20 meeting the country still had "multiple policy instruments" to support stumbles in growth. The Shanghai Composite was up 1.4 per cent in mid-afternoon trading, while the Shenzhen Composite was up 0.6 per cent. Meanwhile, Hong Kong's Hang [...]
London house prices: Here’s how pop-up homes could help boost supply and cut rental prices February 26, 2016 Pop-up venues – from shops to galleries and restaurants – have thrived since the recession and are now ingrained UK culture, providing landlords with a means of filling vacant spaces and supporting fledgling businesses. But they could play just as crucial a part in tackling London's housing crisis by providing fast and cheaper accommodation, the Greater London Authority (GLA) Conservatives have claimed. In [...]
Dozens of UK KPMG partners face the chop in overhaul led by chairman Simon Collins February 26, 2016 A top level restructure at one of the Big Four accountancy firms will see close to 50 partners shown the door. KPMG will shed dozens of partners as part of a push by Simon Collins, its UK chairman, to overhaul the professional service firm’s operating model and bring more technology into the business to suit [...]
UK house prices: two thirds of workers earned less than the average property last year February 26, 2016 Two out of five UK workers (38 per cent) earned less than the average home in the last 12 months, a new study by Post Office Money claims. The Cost of Buying & Moving report, which was compiled by the Centre for Economics and Business Research (Cebr) found that average house prices rose by seven per cent – [...]
Gap’s share price falls after reporting downbeat full-year earnings outlook February 25, 2016 After announcing a fairly downbeat full-year earnings outlook, retailer Gap's share price slid over four per cent in after hours trading. The company said that it now expects diluted earnings per share to be in the range of $2.20 – $2.25 for the 2016 fiscal year, against expectations of $2.44 per share. The news came as [...]
So-called Chinese Google Baidu sees share price rocket as profit jumps 663 per cent and revenue climbs in fourth quarter February 25, 2016 Shares in Chinese internet giant Baidu have rocketed by 13.13 per cent in after hours trading, after the company reported 663 per cent growth in profit in the final quarter of 2015, up to 24.7bn yuan (£2.7bn) from 3.2bn yuan in the same period of 2014. The group,sometimes referred to as China's Google, also posted revenue [...]
Oprah Winfrey partnership could be an expensive choice for Weight Watchers as shares plunge on massive loss and missed earnings forecasts February 25, 2016 Weight Watchers stock has plummeted by over 27 per cent in after hours trading after the worldwide dieting organisation reported a loss of $11.3m (£8.1m) for the fourth quarter of 2015, compared with profit of $4.4m in the same period in 2014 – a 359 per cent drop in income. This brought earnings per share (EPS) [...]