BP’s share price shows it’s weathering the oil price crisis – in charts April 28, 2015 BP has suffered under the pressure of falling oil prices, as the continued low cost of the black stuff reshapes the oil industry. The company’s results, released today, showed a 20 per cent drop in profits – which, amazingly, was still above market expectations. Analysts expected earnings could fall to $1.28bn (£840m), but in the event, they [...]
UK economic growth slows to 0.3 per cent in the first quarter of 2015 April 28, 2015 The last piece of key economic data spun out ahead of the General Election on May 7 has shown the economy slowed by more than expected in the first quarter. The Office for National Statistics said today the economy grew by 0.3 per cent in the first three months of this year, which was below [...]
Workers over the age of 50 are disproportionately likely to feel their career has stalled April 28, 2015 Workers over the age of 50 are disproportionately likely to feel their career has stalled, according to new research. In fact, just 12 per cent feel their career is progressing, compared with a third of those under 50. The study, by Axa PPP Healthcare, suggested that a third of those over 50 felt they didn't [...]
Ex Morrisons chief Dalton Philips pockets £1m bonus April 28, 2015 Former Morrisons chief executive Dalton Philips, whose last year in the role saw the supermarket cut its dividend amid large losses, is being given a £1m bonus for 2014/15. This comes on top of his base salary of £850,000, and other benefits including his pension. In total, Philips will take home almost £2.1m. [...]
Win or draw? Alliance Trust share price rises as Elliott Advisors withdraws resolutions – but gets two seats on the board April 28, 2015 Elliott Advisors will call this a win – Alliance Trust may settle for something rather less emphatic. The day before what was set to be a heated annual general meeting (AGM), the financial services company appears to have reached a truce with one of its largest shareholders by giving it two seats on the board, [...]
BP share price edges up as profits plummet 20 per cent, but still beat expectations April 28, 2015 BP's share price rose slightly this morning, even as the company's results suffered from the effects of low oil prices. The energy giant’s underlying replacement cost profit was down 20 per cent for the three months ending 31 March, compared with the same period a year earlier. That sounds like terrible news, but the company [...]
Whitbread chief executive Andy Harrison announces retirement plans as company profits soar April 28, 2015 The figures Whitbread chief executive Andy Harrison has announced his intention to retire from the role at the end of the next financial year, after the company reported a rise in sales, earnings and profit for the year ended 26 February 2015. Harrison, who previously occupied the same role at easyJet and RAC, said "it is [...]
Santander shrugs of Eurozone troubles to record 39 per cent jump in profit April 28, 2015 The Eurozone’s largest bank showed it can thrive in the region’s crisis. Profit before tax was up 39 per cent in the three months to March 2015, compared to the same three months a year ago. It came in at €2.9bn (£2.1bn), up from €2.1bn in quarter one 2014. Banco Santander’s net income grew 32 [...]
Yanis Varoufakis out, Euclid Tsakalotos in: Markets cheer Greek shake-up as maverick’s influence wanes April 27, 2015 Investors lifted markets across Europe yesterday as the Greek government decided to bulk up its bailout negotiation team and lessen the influence of maverick finance minister Yanis Varoufakis. The government will create a new political team headed by Oxford-educated alternate foreign minister Euclid Tsakalotos. Manchester University professor George Chouliarakis will also take a more central [...]
Apple sales soar on back of China growth: Profits rise despite decline in iPad sales April 27, 2015 Apple has reported a 27 per cent increase in revenue to $58bn (£38bn) for the second quarter, boosted by strong demand in China. Sales in China alone rose 71 per cent to $16.8bn, helping the smartphone giant rake in profits of $13.6bn, up from $10.2bn last year. The firm sold 61.2m iPhones during the period, [...]