Driverless cars could prevent 95 per cent of road accidents February 11, 2016 Making all cars driverless could prevent 95 per cent of car accidents and add £51bn a year to the UK economy, a new report has claimed. The report, by the Institution of Management Engineers (IME), said 95 per cent of crashes happen due to driver error. "The benefits of this sort of technology are huge," [...]
UK property prices are rising at twice the pace of wages as housing activity picks up February 11, 2016 House prices are now rising at twice the pace of earnings after a resurgence in demand at the start of the year, new research today shows. Prices rose 0.2 per cent – or £688 – in January, taking the average value of a property in England and Wales above £290,000, according to estate agents Reeds Rains [...]
Economists: Prudential moves are likely to delay Bank of England interest rate hikes February 11, 2016 The Bank of England’s decision to raise interest rates is likely to be delayed by actions undertaken by the relatively new committee that focuses on financial stability. The financial policy committee (FPC) can impose restrictions on particular markets such as residential or commercial property markets, and can also make banks hold more capital. The monetary policy [...]
City workers kick off 2016 in the mood to move jobs as confidence climbs February 11, 2016 City workers began 2016 with itchy feet, according to new figures published today by a recruiter. Morgan McKinley said the number of job seekers reached 16,924 in January, up 67 per cent compared with the same month last year. A higher number of job seekers is associated with more elevated worker confidence. While the number [...]
US Presidential Election: New Jersey governor Chris Christie suspends campaign February 10, 2016 New Jersey governor Chris Christie has suspended his bid for the White House. Christie only managed to garner 7.4 per cent of the vote in the New Hampshire primary yesterday, trailing fellow candidates Donald Trump, John Kasich, Ted Cruz, Jeb Bush and Marco Rubio. "I have both won elections that I was supposed to lose and I’ve [...]
Whole Foods share price rises as premium grocer announces record sales and beats expectations for first quarter of 2016 February 10, 2016 Whole Foods, the healthy US grocery chain with several outposts in London, posted record sales figures for the first quarter of 2016, up to $4.83bn (£3.3bn) from $4.67bn, beating analysts' expectations of $4.81bn. Shares in the company rose by as much as six per cent in after hours trading. Net income for the quarter fell [...]
Shares in Farmville creator Zynga drop almost eight per cent after company posts declining revenue and customer numbers February 10, 2016 Zynga, the online games company behind Farmville, recorded revenue of $186m (£128m) in the three months to the end of 2015, down from $193m in the last quarter of 2014. Shares in the group dropped by almost eight per cent in after hours trading. The company's losses widened to $47m from $45m year-on-year, while bookings dipped [...]
Expedia earnings miss expectations as Paris attacks take their toll February 10, 2016 This time last year, shares in Expedia soared 45 per cent as it reported impressive earnings. But in a statement today, the company said gross bookings increased 21 per cent in 2015, to $60.8bn, while revenues rose a more modest 16 per cent to $6.7bn. Meanwhile, adjusted earnings per share fell to $0.77 in the fourth [...]
Shares in Twitter plunge by over 10 per cent in after hours trading as social media site reports February 10, 2016 Twitter’s share price dropped by over 11 per cent in after hours trading despite news that revenue increased by 48 per cent in the fourth quarter of 2015 as monthly user numbers stayed flat on the previous quarter. Revenue was up to $710m (£489m) in the three months to 31 December, compared with $479m in the final [...]
Tesla shares jump on increased revenue as losses widen February 10, 2016 Tesla Motors reported revenue of $1.2bn (£825m) for the three months to 31 December 2015, up from $956m in the same period of 2014. The electric car company's results fell short of analysts' expectations of $1.85bn in revenue. Meanwhile, losses for the quarter widened to $320m from $108m. Shares in the company were up by over four [...]