Drax Group share price powering up as firm swings back into profit July 28, 2015 Shares in power station firm Drax Group leapt up by almost 10 per cent yesterday, after the company swung back to a profit in the six months to 30 June. Drax posted pre-tax profit of £53m, up from a loss of £11m in the same period last year, and increased its dividend to 5.1p per [...]
Twitter share price jumps as second quarter results smash expectations July 28, 2015 Twitter's second-quarter earnings cheered investors and shed a positive light on Jack Dorsey's future as chief executive. The figures During the three months ended June, the social media company's revenue was $502m (£322m) and its earnings-per-share were $0.07. Both these figures beat market expectations by a considerable distance, with analysts having predicted a revenue [...]
City of London to buy iconic Smithfield building for £34.6m as Museum of London’s new home July 28, 2015 The City of London has agreed to buy back London's historic Smithfield Market for £34.6m, City A.M. understands. The Victorian general market site has lain empty for more than 20 years after several failed attempts to redevelop it. However, it could become the new home for the Museum of London if the sale goes through. [...]
Baidu share price down more than 16 per cent after disappointing earnings July 28, 2015 Shares in Baidu, often dubbed "China's answer to Google", plummeted 16.8 per cent to $164.99 this afternoon, after less-than-encouraging results were released. Read more: Baidu confirms it's buying a stake in Uber During the second quarter, the Nasdaq-listed company's revenues went up 38 per cent from a year earlier to $2.7bn (£1.7bn), resulting in a fourth [...]
Domino’s Pizza share price leaps as much as 12 per cent as profit soars July 28, 2015 Investors feasted on Domino’s Pizza shares today as the Pepperoni Passion and Mighty Meaty pizza-maker posted better than expected first half profits. The company, which has over 900 stores in the UK and Europe, said sales increased by 14 per cent to £426.7m in the six months to 28 June while underlying operating profits jumped [...]
Brent crude oil edges towards $50 per barrel as gold price takes a breather July 28, 2015 Brent crude continued to edge down today, falling another 1.68 per cent in mid afternoon trading to $52.57 per barrel, its lowest price since January. Meanwhile, WTI crude, the US benchmark, stayed well below the $50 mark, at $47.40. The drop came as commodities prices continued to take a hammering: in recent weeks, precious metals [...]
Tesco’s ban on sugary drinks is fine – as long as the government keeps away and consumers can still vote with their feet July 28, 2015 As a libertarian, I don’t quite know what to think about Tesco’s decision to drop Ribena and other sugary drinks for kids. On its own, I can see the advantages. As part of a broader trend, it’s a little worrying. So why might Tesco be doing this? Let’s take it for granted that Tesco [...]
London house prices: Both buyers and renters suffer brunt of affordability crisis July 28, 2015 London house prices were 9.2 per cent higher in June than the same month last year, according to figures published by the Land Registry today. The capital outpaced the rest of England and Wales, where price growth averaged 5.4 per cent. Renters are not faring much better either. Average rents in London climbed to £699 [...]
Herzog & de Meuron’s Canary Wharf tower given go-ahead July 28, 2015 Fancy living in a cylindrical waterfront tower? Soon homebuyers will be able to do just that after Canary Wharf Group secured detailed planning permission for its second residential scheme on the former Wood Wharf site. The 57-storey building, which is yet to be named, owes its quirky design to Swiss architects Herzog & de Meuron, [...]