Is Britain on the edge of recession? History is an unreliable guide to the future May 11, 2016 Concerns are growing about a marked slowdown in the UK economy. The Lloyds Bank purchasing managers’ index, for example, fell to 52.1 in April, its lowest point since 2013. The initial estimate for GDP, total output, in the first quarter of this year shows an increase of just 0.4 per cent on the final quarter [...]
Not-so-happy holidays: The dream vacation costs more than double what Brits think it will May 11, 2016 The weather outside might be frightful but at least your wallet is looking delightful – or at least, more delightful than it would do if you had opted to fly away on holiday to escape the rain. British holiday hopefuls might be surprised to learn that their ideal vacation could set them back 145 per cent [...]
Costs forcing millions to move back with parents after a break-up May 11, 2016 Financial pressures have been blamed for forcing 7.2m adults to move back in with their parents after a break-up. Rising rent and mortgage costs mean many are unable to pay for separate accommodation, according to research from Churchill Home Insurance out today. Financial reasons were listed as the main cause of needing to move back [...]
Star Wars game helps boost Electronic Arts’ sales and earnings May 11, 2016 Shares in video games maker Electronic Arts (EA) shot up by over seven per cent in after hours trading last night, after the US firm revealed quarterly revenue and profit had come in ahead of analysts' expectations. The company reported revenue of $924m (£640m) for the fourth quarter of its 2016 financial year, up from [...]
Amazon helped push S&P 500 to its best day in two months yesterday May 10, 2016 A rally in Amazon stock and a jump in the oil price helped push US shares up on Tuesday – with the S&P 500 enjoying its best day in two months. Amazon's share price jumped 3.43 per cent to a record of $703.07, which boosted the S&P 500 and the Nasdaq, after investment firm Bernstein upped [...]
Shareholders fault Disney despite Star Wars boost May 10, 2016 Shares in Walt Disney dropped around six per cent in after-hours trading after the company missed analysts' expectations in its second fiscal quarter. The figures In the quarter ending 2 February, the company reported revenues of $12.97bn (£8.98bn), up four per cent year on year. Earnings per share (EPS), meanwhile, were up 11 per cent to $1.36. [...]
ITN boss calls for more BBC outsourcing ahead of crunch white paper May 10, 2016 The BBC should use its “incredible position as a buying power” to boost outside TV production companies, the head of ITN has said. John Hardie told City A.M. programmes such as Newsnight should be put out to tender. His comments come ahead of Thursday’s publication of a new white paper setting out the next BBC [...]
Sales surge pushes Botox maker Allergan to a $10bn share buyback May 10, 2016 Dublin-based Botox maker Allergan has announced it will buy back $10bn (£6.2bn) of shares after swinging into a profit for its first quarter. The announcement sent shares higher in New York, where the company is listed. Shares closed up by 5.28 per cent last night. Allergan’s shares have dropped by 23.6 per cent in just [...]
Visa Europe records three billion contactless payments over the last 12 months May 10, 2016 Card company Visa has recorded three billion contactless transactions in Europe over the past year. In April alone, European consumers used their cards 360m times, clocking in at almost 140 transactions per second. Contactless now accounts for one in every five Visa card payments in Europe, up from one in 60 in 2013. In the [...]
China outbound M&A climbs to record highs May 10, 2016 Outbound merger and acquisition (M&A) activity in China has rocketed so far in 2016. The country has become the world leader in cross-border acquisitions, overtaking the US and Canada for the first time on record, according to data from Dealogic. M&A activity has hit $110.8bn (£76.7bn) so far this year, surpassing the 2015 full-year record [...]