If you want a real scare this Halloween try predicting oil prices October 29, 2015 Forget scary movies this Halloween, consider instead this graph, which shows just how badly oil has performed, compared to market futures contracts, and just how impossible it is to accurately predict what prices will do. (The bloody red line tracks oil’s price, and the dotted lines represent futures contracts.) Proving just how volatile the market is, [...]
The decline of cash is on the cards: City A.M. speaks to MasterCard’s Ann Cairns October 28, 2015 Some sports fans carry the burden of their teams’ fortunes around on their shoulders, often for days after a heroic victory or a dramatic defeat. You know the type I mean – we’ve all worked with them, dated them, got married to them… Hell, some of us are them. The football obsessive who springs into work after a [...]
Hostelworld does well in first day of trading on London and Irish Stock Exchanges October 28, 2015 Hostelworld, the online hostel-booking platform, floated on the London and Irish Stock Exchanges today, with shares priced at 185p, and closed up at 197.75p. Well done. The company said the placing of 71.7m shares at 185p would give it a market capitalisation of £176.8m, and hoped it would raise £125.4m. Following the float, US private equity [...]
GoPro share price tumbles more than 15 per cent as it misses estimates with revenues up 43 per cent October 28, 2015 GoPro shares plummeted 15.19 per cent in after hours trading after it released its third quarter earnings. The figures Despite posting revenue up 43 per cent from this time last year, to $400.3m (£262m), GoPro, the wearable camera company, fell short of the $433.6m expected by analysts. Net income was up 28.6 per cent to $18.8m from 2014, [...]
PayPal share price drops on third quarter results October 28, 2015 PayPal's share price dropped by over six per cent in after hours trading after the company reported its first results since splitting from eBay. The online payments firm posted a 15 per cent increase in revenue during the three months to 30 September, up to $2.3bn (£1.5bn) from $1.98bn in the same period of last year. [...]
Not so sweet: Cadbury owner Mondelez posts eighth consecutive quarterly revenue decline October 28, 2015 Mondelez, the global snack company that owns Cadbury chocolate and Oreo cookies, yesterday reported a fall in revenues for the eighth straight quarter, with a particularly bitter European performance. The company's global revenues fell by 17.8 per cent to $6.85bn (£4.49bn), while its European division – its biggest market – saw a 32.4 per cent [...]
Wet summer weather cools sales at Magners and Bulmers owner C&C October 28, 2015 Wet and windy weather in Ireland and Scotland made ice-filled pints of cider a more chilly affair for pub-goers this summer, C&C group said, as the Magners owner reported a drop in sales and profits. The Irish company, which also owns Bulmers and Tennent’s beer, reported a 9.5 per cent fall in operating profit to €62.6m (£45.4m) [...]
Intercontinental Hotels Group share price closes higher as it’s swept up in the M&A rumour mill October 28, 2015 InterContinental Hotels Group (IHG), the world's largest hotel provider by number of rooms, became swept up in M&A fever this afternoon, with shares closing 2.3 per cent higher at 2,548.6p on talk of two of its rivals shacking up. The jump came after suggestions Starwood Hotels & Resorts, which owns the Sheraton and W Hotels brands, was in [...]
Industry watchdog Ofgem brings in new rules to create more competition in the energy market October 28, 2015 The energy connections market is being opened up to competition, thanks to new regulations that come into force this month. Regional distribution network operators (DNOs), which transmit electricity from National Grid to homes and businesses, dominate the £500m market that connects electricity to homes and businesses. But industry watchdog Ofgem has brought in new rules [...]
Alteri takes step forward with Jones Bootmaker acquisition October 28, 2015 A Mayfair-based investment firm set up last year to invest in challenged retailers has bought UK footwear chains Jones Bootmaker and Brantano. Alteri Partners, which is backed by US-based private equity giant Apollo Global Management, said it has agreed to buy the two companies for an undisclosed sum from Dutch retail conglomerate Macintosh. The deal [...]