Standard Chartered share price plummets on 15,000 job cuts as part of $5.1bn-plan to rebuild troubled bank November 3, 2015 Standard Chartered is cutting 15,000 jobs as it looks to shore the business up after posting “disappointing” third quarter results this morning. The figures The Hong Kong bank reported revenues of $3.7bn for the quarter ending 30 September, down from $4.5bn for the same period last year. This fell short of the $4.1bn forecast by most [...]
Hey big spender! US firms splash out a record $1.8 trillion on M&A as 2015 marks return of the mega-deal November 3, 2015 US companies have spent a record $1.8 trillion on mergers and acquisitions (M&A) this year as they scramble to offload huge cash piles before an expected increase in interest rates. The figures, from Dealogic, include Visa Inc’s $23.4bn (£15bn) purchase of Visa Europe yesterday, the latest in a frenzy of multi-billion dollar mega deals signed off in [...]
Sales staff more driven by salary than any other profession in UK, find Randstad November 3, 2015 Salespeople are more driven by their pay packet than those in any other profession, a survey released today by recruitment company Randstad has discovered. In the survey of more than 10,500 workers, over two-thirds (69 per cent) of those in sales said salary and benefits is a top consideration when moving jobs, compared to a [...]
UK businesses to face squeeze in rents over next 12 months November 3, 2015 UK business are predicted to come under increasing pressure from rising rents as the economy gathers pace and competition for space heats up, the Royal Institute of Chartered Surveyors (RICS) has warned. In its latest commercial market survey, RICS forecasts that UK rental values will jump by four per cent over the next 12 months. Businesses [...]
IT talent being lured out of London by other Tech Cities, finds Experis report November 3, 2015 Technology talent could be tempted away from London, with almost one in three IT jobs now being offered outside of the capital, a study released today by resourcing specialist Experis has found. Experis’s latest Tech Cities Job Watch report revealed that the number of IT jobs advertised in London dropped by eight per cent to [...]
Fitbit sees revenue soar 168pc for its third quarter of 2015, but share prices plummet November 2, 2015 Fitbit has announced revenue of $409.3m for its third quarter of 2015, an increase of 168 per cent from $152.9m compared to the same period in 2014. “Fitbit’s third quarter results demonstrated the continued rapid growth of the Fitbit platform and our team’s ability to execute on the tremendous opportunity we see globally, as we [...]
SMEs take a hit on foreign exchange charges November 2, 2015 International payments could be taking their toll on small and medium sized businesses (SMEs) in the UK to the tune of £110m each year. Figures from foreign exchange company Moneycorp show SMEs are not efficiently managing currency risk, which is weighing on exports. Andy Reid, managing director of global payments at Moneycorp, said: “Currencies around [...]
UK export sales drop to six-year low and risk going into reverse – BCC and DHL November 2, 2015 Export sales have fallen to their lowest levels in six years according to the British Chambers of Commerce (BCC) and logistics company DHL. London saw its trade performance drop by 7.8 per cent over the previous quarter, while Wales recorded the largest decline, of 13.3 per cent. Scotland was the only part of the UK [...]
Volkswagen emissions scandal hits sales in France November 2, 2015 The fallout from the Volkswagen emissions scandal is beginning to show up on sales reports. The German car maker recorded a drop in sales of VW branded cars of three per cent in France for October, figures out yesterday from the Committee of French Automobile Manufacturers (CCFA) showed. Sales of Volkswagen cars have been coming [...]
HSBC’s ringfence relief but HQ could still move November 2, 2015 Concerns that HSBC could lose control of its UK retail arm under ring-fencing rules have been “satisfactorily” dealt with according to the bank’s chief executive. New regulations to take effect in 2019 requiring banks to “ring-fence” their high street operations had caused the bank to worry it would have no say over the capital, dividends, [...]