Elon Musk’s Tesla loses more than $5bn in value as shares plummet July 25, 2019 Tesla’s valuation dropped by more than $5bn when markets opened this afternoon as investors reacted to the firm’s disappointing second-quarter results. Shares in Elon Musk’s firm plunged more than 13 per cent to just under $229 after figures for revenue and profit margin fell short of expectations. Read more: Tesla revenues fall short of expectations [...]
Comcast grows revenue and profit thanks to broadband boost July 25, 2019 Comcast has posted a rise in revenue and profit for the second quarter as an increase in broadband customers helped offset a decline in its TV business. The US media group posted revenue of $26.9bn (£21.5bn) in the three months to the end of June, up 24 per cent on the same period last year. [...]
Sage shares fall as it warns of slipping license software sales July 25, 2019 Sage’s share price has dipped 12 per cent after the British IT firm revealed traditional software sales fell over the first nine months of the year. Sage’s core software revenue dropped 15.5 per cent year on year to £195m, it said today, blaming underperforming sales for its old X3 as it transitions to its cloud-based [...]
Jacob Rees-Mogg quits Somerset Capital role after cabinet appointment July 25, 2019 Jacob Rees-Mogg has quit his investment capital group following his appointment to Boris Johnson’s cabinet. The politician resigned from his role running Somerset Capital Management, which he co-founded, after the new Prime Minister made him leader of the House of Commons in a major reshuffle last night. Read more: Meet Boris Johnson’s new cabinet “Jacob [...]
Astrazeneca share price rises as new cancer drugs boost sales July 25, 2019 Shares in Astrazeneca rose more than five per cent this morning after bumper sales of new cancer drugs fuelled a revenue rise in the second quarter. Read more: Astrazeneca promises cash to back up £12m redundancy payments for former staff The FTSE 100 pharmaceutical giant posted a 14 per cent rise in sales to $5.7bn [...]
Burford Capital posts profit bump as it hits back at critical analyst July 25, 2019 London-listed litigation funder Burford Capital today announced that its profit after tax grew 36 per cent to $225m (£180m) in the first half of 2019. The funder said litigation investment income in the six months to 30 June hit $264m, up 36 per cent from the same period the previous year. Burford said investment returns [...]
Boris Johnson repeats pledge to leave EU on 31 October in first speech to parliament July 25, 2019 Boris Johnson has repeated his pledge to take the UK out of the EU on 31 October in his first statement to the House of Commons as Prime Minister. Johnson told MPs that his mission was to deliver Brexit on 31 October. “I and all ministers in this government are committed to leaving on this [...]
Retail sales decline for longest stretch in eight years July 25, 2019 Retail sales have fallen for the longest period in eight years, new research has revealed, in the latest sign of gloom on the high street. Sales volumes fell for the third consecutive month in the year to July, marking the longest decline since 2011, according to the latest CBI monthly Distributive Trades Survey. Read more: [...]
Samsung Galaxy Fold ‘ready for launch’ after screen fix July 25, 2019 Samsung today said its foldable smartphone will be ready for launch from September after problems with the device’s screen caused its release date to be delayed. Read more: Samsung cuts output at its last Chinese smartphone factory The Galaxy Fold, which is the firm’s first foldable phone, was due to be released in April, but [...]
Gordon Dadds boss says traditional law firms need to adapt to survive threat of Americans and the Big Four July 25, 2019 The boss of listed law firm Gordon Dadds today warned that traditional firms could be under threat if they do not respond to the challenge posed by incoming US law firms and the growth of the accountancy firms in the legal sector. “If you are not in a business which is fit for purpose moving [...]