American Airlines share price rises on biggest quarterly profit in history October 23, 2015 American Airlines reported its biggest quarterly profit in history today, sending shares in the carrier rising. During the three months from July to September, the carrier, which is the world's largest, achieved a net profit of $1.7bn (£1.1bn) – an 80 per cent increase from the equivalent period last year, when it earned $942m. Excluding [...]
Twitter chief executive Jack Dorsey gives third of his shares back to employees October 23, 2015 Twitter chief executive Jack Dorsey is giving a third of his shares in the company back to its employees, he announced last night. Dorsey said that one per cent of the company – worth an estimated £130m – will be “reinvested directly in our people”. The stock will go into the employee equity pool shared by the company's 4,000 workers. Read [...]
Markets and commodities jump as People’s Bank of China cuts rates October 23, 2015 Happy Friday. European markets and embattled commodities all jumped this afternoon after the Chinese central bank cut rates, unleashing further stimulus on its economy. The People's Bank of China (PBoC to its friends) cut its one-year deposit and lending rates by 0.25 percentage points each, while it cut its reserve requirement ratio by 0.5 percentage points. [...]
UK Oil and Gas Investments: Ukog share price falls after it appoints new finance director Kiran Morzaria to replace Donald Strang October 23, 2015 The company behind the so-called "Gatwick gusher" has appointed a new finance director with immediate effect. UK Oil and Gas Investments' (Ukog) new finance director Kiran Morzaria replaces Donald Strang, who is retiring to focus on other business interests. Morzaria was formerly a director of mining company Tubutama Borax and Tubutama, both of which were dissolved in April 2012. Shares in the [...]
Thousands of self-employed people facing HMRC fines for late tax returns, say accountants October 23, 2015 Thousands of self-employed Londoners face fines of up to £1,600 at the start of next month for failing to file their tax returns on time, according to City accountants Perrys. Last year approximately 700,000 people in the UK missed the government’s 31 October submission deadline. This year, the fines are estimated to hit as many as 890,000 people. And with 680,000 London workers registered [...]
Eurozone business growth unexpectedly accelerated in October – but not enough to temper stimulus expectations October 23, 2015 A new survey has shown business growth in the Eurozone unexpectedly strengthening, but not enough to temper expectations that the European Central Bank (ECB) will boost its monetary stimulus programme. "Unless the PMI business activity and price indices pick up significantly in coming months, the combination of relatively weak growth and deflation signalled by the survey will [...]
Pearson’s share price is falling for the third day in a row and showing no signs of letting up October 23, 2015 Pearson's share price is trading down for the third consecutive day, and not showing any signs of reversing. In late morning trading the FTSE 100-listed publisher's share price was down 4.4 per cent at 908.6p, having closed 4.9 per cent down yesterday. On Wednesday Pearson's share price fell 15.95 per cent, after it issued a profit warning, saying conditions in its markets [...]
UK property prices: As house prices continue to rise, people have just stopped moving house October 23, 2015 Hot on the heels of Deutsche Bank calling the top of the capital's housing market, a survey by Knight Frank has suggested the number of people moving house has fallen to the lowest level since it began its survey in April 2014. The upmarket estate agent, which conducted its study with Markit, said just 4.6 per cent of households [...]
TalkTalk down: Share price falls after “significant and sustained cyber attack” and Metropolitan Police hacking investigation revealed October 23, 2015 The Metropolitan Police has opened a criminal investigation after internet provider TalkTalk sustained a “significant and sustained cyber attack”, which has led to fears that customers’ details might have been hacked. It sent shares in the telecoms firm sliding more than 11 per cent in Friday morning trading. The issue first appeared at 3pm on Wednesday. However, according to [...]
Lord Mayor of London Alan Yarrow to call for more investment in UK infrastructure October 23, 2015 London needs the right infrastructure and skills in place to remain competitive on a global stage, leading City figures are expected to say this afternoon. Speaking at Confederation of British Industry's annual autumn lunch, the Lord Mayor of London, Alderman Alan Yarrow, will say that skills and infrastructure are crucial to London’s long-term success. “Just [...]