City Moves for 28 October 2016 | Who’s switching jobs October 28, 2016 Capgemini Consulting Capgemini Consulting has appointed Kristofer le Sage de Fontenay as the head of financial services in the UK. Kristofer joins from Atos Consulting where he held the role of head of global financial services. Kristofer has over 20 years’ experience at Atos Consulting where he specialised in the financial services industry, in particular [...]
Google’s parent Alphabet posts strong results October 27, 2016 Google's parent company Alphabet posted a strong set of results for the third quarter, with revenue up by 20.2 per cent to $22.45bn (£18.46bn). Shares in Alphabet increased 1.6 per cent in after-hours trading. Google's advertising revenue, which makes up the largest chunk of its overall revenue, jumped 18.1 per cent to $19.82bn in the quarter. Read [...]
Amazon’s share price slumps on disappointing results October 27, 2016 Amazon's shares have sunk in after-hours trading as the company posted a disappointing quarterly profit. The e-commerce giant's shares were down 6.8 per cent. It said its net income rose to $252m (£207m) from $79m a year before. But, at 52 cents per share, Amazon's income was less than expected. According to Reuters, analysts' average [...]
Expedia posts healthy revenues in the third quarter October 27, 2016 Holiday website Expedia reported healthy growth in its revenues in the third quarter of 2016. For the third quarter ending 30 September, revenue grew 33 per cent to $2.6bn (£2.14bn). Gross bookings increased 21 per cent year-on-year to $18.6bn. Read more: Expedia revenues dip on higher promotions and discounts The website's portfolio of places to [...]
LinkedIn reports a jump in revenue ahead of merger this year October 27, 2016 LinkedIn, the global network for professionals reported a jump in revenue in its results for the third quarter of 2016. Total revenue increased 23 per cent annually, reaching $960m. LinkedIn's talent solutions revenue made up $623m of the overall sum, marketing brought in $175m and premium subscriptions revenue was $162m. Read more: Microsoft is buying LinkedIn [...]
The Square Mile will lose business and jobs because of Brexit, according to City of London chief Mark Boleat October 27, 2016 City of London policy chief Mark Boleat has warned it is “inevitable” that the Square Mile will lose business as a result of Brexit. Speaking at the City of London dinner tonight (27 October), Boleat warned that New York will likely be the biggest beneficiary of any jobs losses resulting from the UK's departure from [...]
Hermes joins China’s sovereign wealth fund in National Grid bid October 27, 2016 Hermes Investment Management has joined a bid led by the Chinese government for a stake in the National Grid's gas pipe network. City A.M. understands that people working on the deal have become increasingly wary of government scrutiny. Theresa May's administration announced recently that it would be making reforms to its approach to "the ownership [...]
Millionaire Labour donor John Mills to launch business-driven “Hard Brexit” campaign group October 27, 2016 Millionaire Labour donor John Mills is in early talks to create a new campaign group to push for a so-called “Hard Brexit”. Mills, who campaigned for a Leave vote during the referendum, is looking to corral business figures to back a drive under the banner “Business for Brexit”. The founder of JML has been a [...]
Theresa May must get serious about economic reform for Britain to weather Brexit turbulence October 27, 2016 The Prime Minister must begin to explain Britain’s role in the world outside the EU – something ambitious enough to match the enormity of the public’s decision to vote Leave. But she must also start explaining the need for a more dynamic and competitive domestic economy outside the EU. The two are inextricably linked. Britain [...]
Apple pushes into the TV market and launches a new MacBook October 27, 2016 Apple is pushing into the television market, offering a new TV app that works on both iPhones and iPads. Apple's chief executive Tim Cook said Apple TV would become the place where customers access all of their television. The new app will launch before the end of 2016. Users will be able to tell Siri [...]