Almost 80 per cent of directors support the end of the government’s plans for a fiscal surplus by 2020 August 4, 2016 A survey of more than 1,000 members of the Institute of Directors has shown a dramatic swing towards support for further government spending. 78 per cent of IoD members said they backed the axing of the government's manifesto pledge of a fiscal surplus by 2020. It's a huge reversal of a similar poll in May [...]
SMEs urge Prime Minister Theresa May to keep access to European markets post Brexit August 4, 2016 THE UK's small businesses are calling on the Prime Minister Theresa May to keep access to European markets as part of the Brexit process ahead of a key meeting with her today. May is meeting SMEs and their trade associations as she plots a path to Brexit, and formulates her new economic and industrial strategy. Mike [...]
Revenues up at 21st Century Fox on higher advertising spending August 3, 2016 Media conglomerate 21st Century Fox reported a mixed bag of results today, as revenues were below analysts' expectations but earnings per share surpassed estimates. Revenues were up seven per cent year-on-year to $6.65bn in the fourth quarter ended 30 June. However, this fell below projected estimates of $6.68bn. Annual revenues grew one per cent to $27.33bn. Earnings [...]
TripAdvisor shares drop as hotel revenue slumps and online competition heats up in second quarter August 3, 2016 Lower hotel revenues and costly expansion investments hit travel site TripAdvisor’s quarterly revenues today. The figures Shares were down 7.6 per cent in after hours trading to $64.24 (£48.49), after the company posted a three per cent fall in revenue to $391m and a 41 per cent drop in net income to $34m in the second [...]
Tesla Motors loss widens despite putting pedal to the floor to ramp up production August 3, 2016 Elon Musk’s electric car giant Tesla Motors reported lower-than-expected second quarter results, driven by a dip in the number of cars delivered as it ramped up production. The figures Tesla’s total revenue rose 33 per cent year-on-year to $1.27bn (£959m) in the quarter ended 30 June. The company delivered 14,402 vehicles in the second quarter, [...]
Wells Fargo has shrugged off the Brexit blues as it says it experienced “no material impact” on its business August 3, 2016 US banking giant Wells Fargo & Co said yesterday that it did not experience any material impact on its UK or other foreign businesses as a result of the pro-Brexit vote last month. Wells Fargo said the higher end of its potential litigation losses in excess of its liability for probable losses was about $1bn [...]
What can science fiction tell us about the future? August 3, 2016 A recent book on the future of warfare warned that Britain’s pristine new aircraft carriers will be vulnerable to swarms of small, semi-autonomous drones that could not be stopped by conventional protective weaponry. Another looked at whether mass online gaming might be used to recruit networks to attack military or commercial targets. A third raised the [...]
Silicon Valley star gets green light for moon landing mission August 3, 2016 The US government has given a Silicon Valley-based company permission to send a robotic lander to the moon next year for a two-week mission. This is the first time a private space mission has been cleared to fly beyond Earth’s orbit, almost half a century since Neil Armstrong walked on the Moon’s surface. Moon Express is [...]
A Bank of England interest rate cut is almost inevitable: It’s a shame it’ll prove ineffective August 3, 2016 In all likelihood, today will see the most predictable yet most ineffective policy move from the Bank of England in its 19 years of monetary policy independence. We should be concerned, especially on the second point, because at a time when the economy is slowing, the limited ability of the Bank to lend a helping hand should [...]
Crocs’ revenue fall leads to share sell-off August 3, 2016 Crocs – the US maker of lightweight clogs – left investors wrong-footed yesterday after reporting a slide in sales and a disappointing outlook. Revenue fell six per cent to $324m (£243m) from $345m a year ago, below the consensus estimate of $348m. Net income came in at $15.5m, or 13 cents a share, slightly higher [...]