Anglo American share price falls as it suspends dividend and cuts jobs amid deepening commodity crisis December 8, 2015 Anglo American today suspended its dividend for the first time in eight years, with the miner also laying off around 60 per cent of its workforce as it struggles to weather a rout in commodity prices. It came as the miner announced a "radical restructuring", under which its workforce will shrink to 50,000 from 135,000, as it consolidates from three to six [...]
Share price of Peppa Pig maker Entertainment One plummets as brokers’ sentiment falls December 8, 2015 Entertainment One's share price plummeted in late morning trade after a number of brokers either reduced their target price or downgraded the company's stock. Shares were down 11.51 per cent at 156p per share, leading the FTSE 250 lower, which was itself 0.38 per cent down at 17,290 points. Read more: eOne brings home the bacon as profits fly The company's share price [...]
What’s going to happen to the tech industry in 2016? Fewer IPOs, compressed unicorn valuation and slowing M&A activity December 8, 2015 The year 2015 was packed with fintech unicorns, blockchain hype and tech bubble fears – but what’s in store for the tech industry in 2016? M&A advisers Magister Advisors have peered into their crystal ball and offered their top predictions. The TL;DR version? Expect 2015’s “reality distortion field” to dissolve next year. Gulp. 1. Don’t hold your breath for [...]
Cenkos share price rises after it denies probe by the Serious Fraud Office over Quindell December 8, 2015 Shares in Cenkos rose 15.5 per cent to 170.4 p per share today, after the mid-tier broker and investment house said it's not under investigation by the Serious Fraud Office (SFO). Cenkos was formerly the nominated adviser to scandal-engulfed insurance services company Quindell, which is currently being investigated by the SFO over "business and accounting practices". The clarification came [...]
UK industrial production beats expectations in October but manufacturing still drags December 8, 2015 UK industrial production grew 1.7 per cent in the year to October, beating economists' forecasts for 1.2 per cent growth, and painting a positive picture for the sector, new data from the Office for National Statistics shows. Mining and quarrying rose 8.5 per cent, followed by water supply, sewerage and waste management output, which rose four per [...]
AB InBev’s chief exec to defend Megabrew deal with SABMiller before Congress December 8, 2015 AB InBev chief executive Carlos Brito is hoping to ease lawmakers’ concerns about the mammoth megabrew merger with SABMiller by defending the deal in front of US Congress today. The £71bn deal, the biggest ever British corporate merger, will create the world's biggest brewer, gobbling up about half the industry’s total profit. It’s estimated that [...]
FTSE 100 index opens lower on miners, including Anglo American and BHP Billiton December 8, 2015 The FTSE 100 index opened down this morning, led lower by miners. Again. The UK's blue-chip index opened 0.25 per cent down at 6,208 points, led lower by Anglo American and BHP Billiton. Anglo opened 2.76 per cent down at 358.7p per share, while BHP Billiton's stock flopped 3.53 per cent to 737p per share. Anglo American today set out [...]
House price growth dips as UK housing value increases by £1.8 trillion in 10 years December 8, 2015 The value of the UK's housing stock has jumped by £1.8 trillion in the past decade, research by Halifax showed today. UK homes are now worth £5.1 trillion, a 53 per cent jump from £3.3 trillion in 2005. That's a £76,316 rise for each home in the UK. The news came as Halifax reported annual house price [...]
London economic growth will outstrip New York by 2030 December 8, 2015 London's economy is expected to grow more quickly than New York's over the next 15 years, helped by its ability to benefit from international growth. The capital's economy will grow by an average of 2.9 per cent a year between now and 2030, outpacing New York's 2.6 per cent, according to the report by consultancy [...]
Oil price drags on the FTSE 100 as airlines takeoff – London Report December 8, 2015 OPEC’S failure on Friday to agree to curb oil production weighed yesterday on the FTSE 100 index. The cartel failed to reach agreement despite a global supply glut and the strength of the dollar, which is leading to the collapse of global oil prices, with the resulting uncertainty hitting stock markets. The FTSE 100 closed [...]