As Amazon lays off engineers, it giving up on smartphones after disappointing Fire sales? August 27, 2015 Remember Fire, Amazon’s first foray into smartphones? Amazon probably wishes it didn’t. The internet retailer is laying off “dozens of engineers” after disappointing sales of its smartphone, released in the UK one year ago, and the company is also curbing parts of its hardware development, the Wall Street Journal has reported. The layoffs were all [...]
Playtech share price dips despite profit growth ahead of Plus500 acquisition August 27, 2015 Gambling software company Playtech reported strong growth in profits in its first half, ahead of its acquisition of Plus500. However, the company's shares dipped two per cent down in mid-morning trading. The figures Playtech reported revenues of €286m (£210m) in the six months to the end of June, a 33 per cent increase on the same period last year. Adjusted pre-tax [...]
UK net migration reaches record high – with EU migrants rising 40 per cent August 27, 2015 Net migration hit 330,000 in the 12 months ending March 2015, 94,000 more than the previous year – and the highest on record, official figures show. The figures, published by the Office for National Statistics (ONS) this morning, said net migration of EU citizens shot up 40 per cent to 183,000. A record 269,000 EU citizens [...]
US markets rise but FTSE 100 closes lower as China uncertainty continues August 27, 2015 After a tumultuous session of trading yesterday during which traders on both the S&P 500 and the Dow Jones showed optimism until mass selloffs in the the final minutes of trading, both indices opened higher today, with the S&P rising 1.3 per cent per cent in early trading, while the Dow rose 1.8 per cent. [...]
Aldermore shares jump nine per cent as it reports strong rise in profits as loans increase August 27, 2015 Challenger bank Aldermore reported a strong rise in profits in the first half as it issued more loans to small and medium-sized businesses. Aldermore's share price has jumped nine per cent on the news. The figures The bank reported underlying profit before tax of £44m for the first half of 2015, an increase of 109 [...]
Better start for the FTSE 100 after Asia rally as Shanghai shares soar August 27, 2015 Are things finally calming down on the markets? The FTSE 100 opened almost two per cent higher, taking heart from a rally in Asia, where the Nikkei closed one per cent higher, the Hang Seng closed three per cent higher – and Chinese markets leaped, with the Shanghai Composite gaining more than five per cent [...]
WPP boss Sir Martin Sorrell shrugs off mounting fears over China’s economy August 27, 2015 WPP boss Sir Martin Sorrell yesterday admitted “everyone should be concerned” about the current state of the Chinese economy – but said he remained an “unabashed bull” over the long term. Speaking to City A.M., Sorrell said that although Asia Pacific is the company’s third largest market, WPP would not be changing its strategy [...]
Oil analysts predict price spikes for Brent crude as early as 2016 August 27, 2015 The price of oil cannot stay at its current sub-$50 levels beyond next year, energy analysts have warned. Due to a lack of growth in North American shale production and increased decline in mature fields, a Brent price as low as $50 per barrel is not sustainable beyond 2016, according to research from Rystad [...]
Monsanto gives up on £30 billion takeover bid for Swiss rivals Syngenta August 27, 2015 All Summer flings end in heartbreak – especially courtships worth $46bn (£30bn). Seed giant Monsanto yesterday threw in the towel on its four-month courtship of Swiss rival Syngenta after failing to attract the group with a takeover proposal. The New York-listed group, led by boss Hugh Grant, tried to win Syngenta round with a sweetened [...]
UK manufacturers to government: Green burden and environment legislation is out of control August 27, 2015 An overwhelming majority of British manufacturers want the government to scrap environmental legislation, according to a new report out today from the EEF. The report found that seven in 10 manufacturers said eliminating so-called “green” red tape is important to their business. Four in 10 said that the government had not done enough [...]