Former Tesco exec takes over as boss of Morrisons supermarkets February 25, 2015 MORRISONS has named former Tesco executive David Potts as its new chief executive, completing the recruitment of a triumvirate of ex-Tesco men to restore growth at the UK’s fourth-largest supermarket. Potts was Tesco’s longest serving director after beginning his career as a shelf stacker in 1973 and rising to become head of its Asian business. [...]
Salesforce share price at record high as sales rise 26 per cent in three months February 25, 2015 Salesforce is on cloud nine. The company, which makes cloud software, reported annual revenue of over $5bn for the first time, as its fourth quarter earnings arrived bang on expectations. The news sparked a huge lift for shares, which rose ten per cent in after-hours trading; around a $4bn boost to the company’s valuation. Sales [...]
Apple just lost $533m in a patent case February 25, 2015 Apple has lost a case worth $533m (£343m) after a Texas jury found its iTunes and App stores had infringed patents. The tech-giant was battling Smartflash, an American company founded in 2000. Smartflash claimed that Apple wilfully infringed its patents, and did not respect its inventions. Apple disagreed, claiming the claims excessive and the patents [...]
Could the Bank of England one day embrace Bitcoin? February 25, 2015 Cryptocurrency bitcoin, in combination with mobile technology, could revolutionise the way we make purchases, which has prompted the Bank of England to conduct more research into the area. The bank said it could defunct banks' roles as middle men by allowing secure payments to be made directly. "This has potentially profound implications for a financial [...]
St James’s Place share price rises as it announces Metro Bank tie-up February 25, 2015 Another sign of how seriously the financial establishment is taking challenger banks? Wealth manager St James's Place has announced a tie-up with Metro Bank, the quirky high street banking chain best known for offering free dog biscuits in its branches. The two will offer a money management account which is "fully branded St James's Place, [...]
Weir Group share price plummets as oil and gas firm warns on year ahead February 25, 2015 Weir Group 's share price plummeted by 10 per cent this morning after the oil and gas company warned of a “significant reduction” in revenues for the year ahead. Though its results for the year to January 2 were just below expectations, investors were left more unsettled by the forecast of bid drop in demand [...]
Gulf Keystone share price jumps 71 per cent as it confirms sale February 25, 2015 London-listed oil producer Gulf Keystone's share price rocketed today after the company confirmed sales talks, amid an ongoing dispute with the Kurdistan regional government over late payments for its oil exports. Shares in Iraq-focused Gulf Keystone jumped 71 per cent to trade around 60p per share this morning. The company said it had held discussions [...]
AO World share price crashes 47 per cent after profit warning February 25, 2015 Shares in AO World, which debuted around a year ago, plummeted this morning after it issued a profit warning, saying it had come up against "tougher than expected trading conditions in the final quarter of the year." The etailer saw its shares shed as much as 47 per cent this morning, wiping around £500m off [...]
Whitbread share price rises after investors told to expect top end results February 25, 2015 The figures Shares in Whitbread opened 2.35 per cent up after the hospitality giant told investors to expect full-year results to come in towards the top end of current expectations, as sales at its cheap hotels and Costa Coffee chain continued to rise. Overall the group achieved a rise in like-for-like sales of 5.8 per [...]
Morrisons share price edges up as it names former Tesco man David Potts as chief exec February 25, 2015 Shares in embattled supermarket Morrisons opened one per cent higher this morning, after it named its new chief executive: former Tesco Asia boss David Potts. The supermarket launched its search for new boss in January, after chief executive Dalton Philips announced his departure. The appointment is part of a fresh start for the company: chairman Andrew [...]