Chinese tourist spending soars in London’s West End as Brexit fall in sterling leaves more bang for the yuan January 31, 2017 WEST END sales to Chinese shoppers rose by a whopping 154 per cent year-on-year last week as visitors from the country took advantage of the cheap pound to celebrate the Chinese New Year in London’s key shopping district. Jace Tyrrell, chief executive of New West End Company which represents businesses around Oxford Street said: “The [...]
Apple of my iPhone: Records tumble as quarterly revenue sets all-time high January 31, 2017 Apple has smashed investor expectations to post its best ever quarterly revenue on the back of record-breaking sales of its iPhone. The Cupertino-based company saw revenue for the quarter increase to $78.4bn, a rise of $2.5bn from the previous year. Apple's share price rose by over three per cent in after-hours trading. Read more: Here's how top [...]
Deutsche Boerse boss wants London Stock Exchange merger to bring Anglo-Saxon spirit to Europe January 31, 2017 Deutsche Boerse chief executive Carsten Kengeter wants his company’s merger with the London Stock Exchange to help introduce a more Anglo-Saxon attitude to Europe. Kengeter also spoke of the “urgent” need for the merger in order for Europe to retain its global significance in the face of intensifying competition from the United States and Asia. “Capital [...]
Sky and Discovery reach a deal – but the war of words isn’t over January 31, 2017 Discovery and Sky have reached a last-minute deal in a very public spat which had threatened to see popular channels removed from the satellite TV provider. Discovery had threatened to pull its channels after it was dissatisfied with the price Sky had initially offered. The end-of-month deal ensures that its channels, which also include Eurosport [...]
Sajid Javid is preparing to unveil his long-awaited housing plans next week January 31, 2017 Ministers are preparing to unveil a long-awaited blueprint to tackle the UK's housing crisis by boosting the supply of new homes. Barring any last minute delays, communities secretary Sajid Javid hopes to finally publish a housing white paper as soon as this Monday, months after it was first set for publication. The plans had previously [...]
£3.5m share bonus for outgoing Burberry CEO January 31, 2017 Outgoing Burberry CEO, Christopher Bailey, has received 215,000 shares in the business, with a total value of £3.5m. Bailey is one of a number of Burberry executives that have been awarded performance-contingent share packages in 2017, after the fashion retailer postponed its rewards scheme last year. Burberry’s sales are believed to have benefited from the [...]
Rush-hour commuting chaos at Waterloo after two hit by trains earlier in the day January 31, 2017 Those travelling from Waterloo are facing a hectic journey tonight, after two people were hit by trains between the London station and Woking. One man was hit at New Malden at around 12:30pm, while another was hit near Woking roughly 15 minutes later. Both have died. Although all lines have since been reopened, South West Trains is [...]
MasterCard profits up six per cent in Q4 January 31, 2017 MasterCard, the world’s second largest payments processor, saw revenues decline but profits increase during the final quarter of last year. Net income rose by 4.8 per cent to $933m, compared to $890m 12 months ago. Revenue fell slightly short of analysts’ estimates of $2.79bn, coming in at $2.76bn. Quarterly profits for the three months to [...]
UPS shares down six per cent on Q4 loss January 31, 2017 The package delivery giant United Parcel Service reported a final quarter net loss of $244m in 2016. Revenue increased by five per cent, up to $16.93bn. Dividends totaling $2.8bn were paid in 2016, which also saw 25.5m shares repurchased by UPS for roughly $2.7bn. Reduced revenue in the domestic US package business was partly to [...]
London is set for its largest oil company listing on the Alternative Investment Market in two years January 31, 2017 London is set for its biggest oil and gas listing since 2014 as Diversified Gas & Oil gears up for a float on the Alternative Investment Market (Aim) Friday. Diversified, a US-based firm that operates around 7,500 gas and oil producing wells in the Appalachian Basin, raised $50m (£39.7m) in capital. It produces 4,700 barrels of oil equivalent [...]