Apple’s big ecosystem play March 26, 2019 | City Talk Doubts and unanswered questions aplenty following last night’s glitzy event, but make no mistake this was another big step in the pivot towards making Apple more of a services business. You would call this an ecosystem play, with new services designed to strengthen the bonds between consumers and the brand. Services revenues have soared lately [...]
Negative outlook from exporters fails to move German stocks March 26, 2019 German export expectations weakened considerably in March compared to February, dropping to their lowest figure since October 2012, according to one of the country’s leading think tanks. Export expectations among manufacturers in the automotive and metals industries have in particular weakened, and declines in exports are expected, survey results published by the Ifo Institute showed [...]
UK mortgage approvals fall as Brexit uncertainty bites March 26, 2019 Mortgage approvals in the UK have fallen year-on-year as homebuyers put off their decisions amid political uncertainty, new data has revealed. The number of mortgages approved by the main high street banks in February was 2.2 per cent lower than the same month in 2018, the finance and business services body UK Finance said today. [...]
Plumbing and heating supplier Ferguson’s share price dives after profit warning March 26, 2019 Shares in FTSE 100 plumbing and heating products supplier Ferguson fell nine per cent this morning after it issued a profit warning for 2019. The figures The company's results today revealed a rise in profits before tax of $676m (£513m) before exceptional items for the half year to 31 January, up from $644m for the same [...]
Samsung issues profit warning amid collapse in memory chip prices March 26, 2019 Samsung issued a surprise warning to its shareholders this morning that its first-quarter results would be worse than expected due to collapsing memory chip prices and lower demand for its display panels business. In a regulatory filing issued to the London Stock Exchange before its earnings guidance next week, the South Korean tech giant said: [...]
Mortgage finance firm Lendinvest taps three banks for £500m London float March 25, 2019 Online property finance marketplace Lendinvest has chosen three banks to lead its planned £500m float on the London Stock Exchange this year. It is understood Lendinvest, which provides funding for property investors, developers and landlords, has tapped Goldman Sachs and Barclays as joint global coordinators. Read more: Mortgage finance hub Lendinvest targets £500m London listing [...]
Enron scandal boss Jeffrey Skilling eyes new energy venture after release from prison March 25, 2019 Former Enron chief executive Jeffrey Skilling is looking for investors for his new energy venture, just weeks after his release from prison. Skilling has been meeting with former Enron executives in a bid to find backers for a new digital platform that would connect investors to oil and gas projects, the Wall Street Journal reported. [...]
Britain leads falling European stock markets as US recession risk grows March 25, 2019 European stocks fell today, with Britain's leading the drop, while US equities were volatile as investors weighed up global economic headwinds and recession fears. The US’s S&P 500 was down 0.4 per cent soon after opening at 1.30 pm UK time, but rebounded to rise 0.3 per cent for the day, while the Dow Jones [...]
Cutting the ‘Hemline Index’ down to size March 25, 2019 | City Talk Created by economist George Taylor just three years ahead of the 1929 Wall Street Crash, his theory of the on the so-called ‘Hemline Index’ holds that when share prices go up, so do hemlines. By the same token, during tougher economic periods, skirts and dresses get longer. The original thinking seems to have run that, [...]
FTSE 100 falls as markets fear slowing global economy March 25, 2019 The FTSE 100 fell this morning as European stocks followed Asia’s lead and dropped amid global economic headwinds and fears of a US recession. FTSE fell 0.5 per cent soon after opening, shedding 36 points, while the German Dax exchange opened down 0.4 per cent from its previous closing level despite later trimming its losses to become level after [...]