Moody’s and S&P cut credit ratings for AstraZeneca November 10, 2015 Moody's and S&P both lowered their credit ratings for AstraZeneca today, highlighting the company's plight as it tries to tackle a number of looming patent expirations. S&P cut its rating from "A+" to "A", while Moody's lowered its rating from "stable" to "negative". The former said it did not expect a significant recovery in profits [...]
Prudential share price dips as it unveils net outflows of £2.7bn at asset management arm M&G November 10, 2015 Prudential's asset management division M&G failed to impress in its third quarter of 2015, today reporting net outflows of £2.7bn for the last three months. M&G's retail business was particularly badly hit, with net outflows for the quarter of £3.9bn, compared to net inflows in its institutional business of £1.2bn. Share price in the company dropped [...]
Global construction market to grow by 85 per cent to $15.5 trillion by 2030 November 10, 2015 The global construction market is expected to grow by 85 per cent to $15.5 trillion worldwide by 2030, new research shows, with China, US and India leading the way and accounting for 57 per cent of all global growth. The latest study from industry analysts Global Construction Perspectives and Oxford Economics predicts that growth in [...]
Vodafone share price back in positive territory on better-than-expected results despite terminated talks with Liberty Global November 10, 2015 Despite cancelled merger talks with Liberty Global disappointing shareholders, Vodafone shows it’s well back on track with sales smashing expectations. The figures Vodafone posted first half results showing the company’s organic service revenue rose one per cent to £18.4bn in the six months to 30 September. This outstripped most analysts’ forecasts, which hovered around 0.8 per [...]
London office rents: Naysayers are right to worry about a bubble – but London will keep growing November 10, 2015 London’s office market is booming, there’s no doubt about it. We are the midst of an upward cycle and have seen huge levels of capital investment and rental growth in the last few years. This is largely thanks to a spike in demand fuelled by the economic recovery and increased confidence in businesses. With the [...]
IEA: Oil prices won’t breach $100 mark until 2040 November 10, 2015 Due to the supply glut it will be another 25 years before oil prices break through the crucial $100 mark, according to the International Energy Agency (IEA). And the black stuff is unlikely to hit $80 a barrel before the end of the next decade, as annual global demand growth rises by 900,000 barrels per day to [...]
Hornby share price dips as it warns on full year profits, revenues despite turnaround plan building steam November 10, 2015 Shares in Thomas & Friends manufacturer Hornby fell almost six per cent to 91.25p in early trading, after it admitted full year profits and revenues will be lower than expected as it attempts to build up steam on its turnaround plan. The group is expecting to make a "disappointing" pre-tax loss of £2m this year, although it [...]
National Grid kicks off sale of UK gas distribution business November 10, 2015 UK power operator National Grid has kicked off the process of flogging a majority stake in its gas distribution business. The figures The UK electricity and natural gas operator reported a 21 per cent jump in its adjusted pre-tax profits, up from £1.14bn to £1.37bn, in the six months to 30 September. Earnings per share were also up [...]
Sharm el-Sheikh Metrojet A321 Russian airliner plane crash raises concerns over airport security costs November 10, 2015 Thousands of tourists stranded in the Egyptian beach resort of Sharm el-Sheikh are continuing to be brought home this morning, amid concerns businesses could have to absorb the cost of increased security. The foreign secretary Philip Hammond said that if the crash in Egypt is found to have been caused by a bomb, increased security at airports [...]
Black Friday and Cyber Monday 2015: UK shoppers holding out to snap up bargains in November pushed October sales down November 10, 2015 UK retail sales were disappointing last month, according to a survey by the British Retail Consortium released today, suggesting that some shoppers may be holding out for some deals around Black Friday at the end of November. Retail sales decreased 0.2 per cent on a like-for-like basis from October 2014, when they were unchanged from the preceding [...]