Deadpool? 21st Century Fox earnings miss expectations on weak film revenues February 8, 2016 21st Century Fox earnings were more Deadpool than Eddie the Eagle in the three months to the end of December – with film revenues dragging it down. In a statement this evening, the company said quarterly earnings fell one per cent, or $49m (£33.9m), to $7.38bn, against analyst expectations of $7.53bn. Earnings per share fell to $0.44, down from $0.53 last year. [...]
Hold onto your hats: Stocks pare losses in the US but the S&P 500, Nasdaq and Dow Jones still sink February 8, 2016 US markets pared losses but still finished lower this evening, after a stormy start to the week for global markets sent investors fleeing for shelter in safe havens such as gold and government bonds. The Nasdaq, which at one point dipped three per cent, settled 1.8 per cent lower. Meanwhile, the S&P 500 finished the day 1.4 per [...]
Thousands of Londoners flock to access government’s Help to Buy scheme February 8, 2016 A government scheme aimed at helping Londoners onto the housing ladder has already already been flooded with thousands of requests since its launch last week. Housing minister Brandon Lewis said London Help to Buy – an extension of the equity loan scheme that has been available to buyers around the country since April 2013 – [...]
Firms must state Brexit risk audit regulator warns, as earnings season approaches February 8, 2016 Companies are being warned to include the cost of the UK quitting the European Union in their financial statements by the accounting regulator the Financial Reporting Council (FRC). Earnings season is gearing up in the UK, with most of the FTSE 100 blue chip firms set to publish their fourth quarter and full year results [...]
Deutsche Bank seeks to quell investor fears as it assures it can make debt repayments due in April February 8, 2016 Deutsche Bank moved to calm investors this evening, after it said it will have no problem making bond payments due in April. The bank, whose shares fell 9.5 per cent to €13.82 during trading in Frankfurt today, said its payment capacity was approximately €1bn, which it said was "sufficient to pay additional tier one (AT1) coupons of approximately €350m [...]
The Vix volatility index is spiking again as turmoil hits global equities markets February 8, 2016 The Vix – everyone's favourite measure of global market volatility – was up 17.3 per cent at 27.42 points in mid-afternoon trading in the US. The Vix has spiked several times in recent months as turbulence took hold of global markets. In January, it rose as high as 31.36 during intraday trading, while during so-called Black Monday in [...]
Gold price breaks $1200 as markets fall and investors fret over the health of the global economy February 8, 2016 Stock market woes and fears over an ailing global economy have given a boost the price of gold, pushing it over the $1,200 line for the first time since June 2015. The yellow metal added to gains made over the last week, it’s best in over two years. The so-called safe haven is often used by investors as a [...]
Elegant Hotels buys its sixth Barbados resort for £12.5m February 8, 2016 Elegant Hotels has added another luxury Barbados resort to its portfolio after agreeing to buy Waves Hotel and Spa on the island’s west coast for $18m (£12.5m). The company, which floated on Aim last year, now owns six Bajan resorts including The Colony Club, Crystal Cove and Turtle Bay as well Daphne’s, the beachfront restaurant [...]
US tech stocks Twitter, Facebook, Etsy, Groupon and Salesforce share prices fall, dragging Nasdaq to its lowest in 18 months February 8, 2016 Global market turmoil has hit tech stocks, with investor favourites Facebook, Twitter and Salesforce combining to drag the Nasdaq index to its lowest level since July 2014. In early afternoon trading in New York, Facebook was 5.5 per cent lower, at $98.33, while Salesforce was 8.5 per cent lower, at $53.53. That dragged the Nasdaq down 2.9 [...]
Yelp shares suspended in the US as results released early and the CFO quits February 8, 2016 Shares of review site Yelp have been suspended in the US following the firms fourth quarter earnings being leaked. The company told CNBC the results were released due to an error by PR Newswire. They were expected after the market close. Yelp reported a net loss of $22.2m in the fourth quarter, down from a profit of $32.7m in [...]