Skyscanner believed to be considering sale or IPO October 18, 2016 UK unicorn Skyscanner is believed to be exploring a sale or flotation. The travel search company was valued at £1bn in January when it raised $192m (£158m) from five investors in a financing round. Read more: Investment lets 'unicorn' Skyscanner accelerate its global expansion plans Founded in 2003, Skyscanner employs 770 staff, with offices in Edinburgh, Glasgow, [...]
Goldman Sachs glitters as it beats analyst expectations October 18, 2016 Goldman Sachs shares have risen in pre-market open trading, after its latest quarterly earnings left analyst expectations in the dust. The figures The US banking giant reported net earnings of $2.1bn (£1.7bn) for its third quarter of 2016, an increase of 47 per cent based on $1.4bn the year before and an increase of 15 per [...]
Aim-listed Premier African Minerals’ stock dives nine per cent as it announces significant gold investment in Democratic Republic of Congo October 18, 2016 Shares in Aim-listed miner Premier African Minerals closed down more than six per cent today after announcing it has bought into a "significant" gold asset in the Democratic Republic of Congo (DRC). The group has acquired a 4.5 per cent stake in private company Casa Mining Limited, based in Mauritius, that holds prospective gold mining and exploration licences [...]
PwC sounds alarm over sluggish economic recovery October 18, 2016 PwC has become the latest big name to raise concerns about the implications of the technological revolution on inequality, economic growth and unemployment. In a new report, the accountants point out that while the developed world has bounced back from the financial crisis in terms of the size of individual economies, consumer spending is still down [...]
Before the bell: What you need to know before the US market open October 18, 2016 Inflation in the UK has jumped, and new loans in China grew by more than expected. Here's what you need to know before the US market open at 2:30pm. US futures are pointing higher ahead of the open. The S&P is up by 0.54 per cent, while the Nasdaq is 0.62 per cent higher. The Dow [...]
Banks blame Draghi for their dwindling profits October 18, 2016 There is no end in sight for Europe's squeezed banking sector as the continent's top lenders prepare to feel the pain of negative interest rates for at least the next six months. Nearly every bank in the Eurozone said their profits had been hit as a result of the European Central Bank (ECB)'s historically low [...]
Profit at the world’s largest asset manager rose in the last quarter October 18, 2016 BlackRock, the world's largest asset manager, has posted a rise in quarterly profit, beating analyst expectations. The New York-based firm's performance will be seen as a strong sign of resilience in a weak market for many traditional asset managers. The numbers Third quarter earnings came in at $5.14 a share on $2.84bn in revenue, beating Thomson Reuters consensus expectations of about $5 [...]
PA to use robots to write market reports and election coverage October 18, 2016 Hello Siri, can you write me a story please? This could be the future of digital journalism after the Press Association said they are looking at using robots to report some stories in the next few months, Press Gazette reported today. Speaking at the Society of Editor's conference this morning, the agency's editor-in-chief, Pete Clifton, [...]
Utilitywise share price buzzes on double-digit turnover and 97 per cent cut to net debt October 18, 2016 Shares in utility cost management consultancy Utilitywise rose this morning after the company posted double-digit revenue growth and announced the appointment of a new chief financial officer. The figures Revenue at the group rose 22 per cent to £84.4m in the year to 31 July, up from £69.1m in 2015. Profit before tax grew by seven per [...]
Tax changes to force 440,000 landlords up a tax bracket October 18, 2016 More than 400,000 landlords will be pushed up a tax bracket from April next year. By 2021, landlords will not be able to deduct mortgage interest payments or other financial costs from their turnover before declaring their taxable income. Read more: Watch out, tenants: Landlords threaten to hike rents because of new taxes The changes [...]