Twitter just announced it’s killing its Vine video app October 27, 2016 Twitter has revealed it is going to scrap its Vine video service. In a blog posted to Medium the micro-blogging site said it would be discontinuing the mobile app "in the coming months". The site said all existing Vines – videos that are a maximum of six seconds long – would still be available and it [...]
Procter & Gamble shaves its costs and rakes in a rise in sales October 25, 2016 US consumer goods giant Procter & Gamble has posted a surprise rise in sales that sent shares higher in New York, despite warning over growth in coming months. P&G, which owns a variety of brands including Head and Shoulders shampoo and Gillette razors, reported a profit for the quarter of $2.7bn (£2.2bn), or 96 cents [...]
Whirlpool sales lowered by the strong dollar October 25, 2016 Shares in US white goods maker Whirlpool took a hit today after it give a downbeat outlook for coming months. It cut full-year earnings per share forecasts to between $11.50 and $11.75 from $12 to $12.50. Adding to the washout Whirlpool reported it had missed expectations in both third-quarter profit and sales. Profit came in at [...]
US mobile network Sprint narrows losses on higher revenue and more customers October 25, 2016 US mobile network challenger Sprint has narrowed its losses in its latest quarter thanks to higher revenue from more customers. Sprint is targeting rapid growth by offering its service at a heavy discount to its rivals and managed to pull in almost 350,000 contract customers for its fifth consecutive positive growth quarter after years of [...]
Wind in CK Hutchinson’s sails as its network deal approved by Italians October 25, 2016 A merger of CK Hutchison’s 3 Italia and Italian network Wind has been given final approval in Italy, just months after the European Commission stepped on Hutchison’s bid for O2. Wind owner Vimplecom – backed by Russian billionaire Mikhail Fridman – said the nod meant it was on course to complete the deal before the end [...]
GW Pharmaceuticals and British Sugar sign cannabis plant deal October 25, 2016 British Sugar – a subsidiary of Associated British Foods – has signed a deal to grow cannabis plants for GW Pharmaceuticals. The marijuana plants – which are of a non-psychoactive variety – are for use in GW’s experimental childhood epilepsy treatment called Epidiolex. The drug is derived from compounds in the cannabis plant and has [...]
Vaccine and cancer drug sales give pharma firm Merck a boost October 25, 2016 The second-largest US drug producer has posted better-than-expected quarterly revenue, boosted by sales of its vaccines and cancer drugs. Higher sales of Merck’s vaccines and key cancer drug Keytruda sent its revenue for the third quarter up by five per cent on the same period last year, to $10.54bn (£8.7bn). The company reported a profit [...]
Caterpillar’s revenues take a hit as the drop in commodity prices weighs October 25, 2016 Construction and mining equipment maker Caterpillar has warned it expects earnings to continue to crawl for the foreseeable future. Caterpillar’s woes have largely been put down to the ongoing slump in commodity prices that has led to some its customers reining in spending. Caterpillar has cut its earnings view for 2016, now projecting full-year earnings [...]
Before the bell: What you need to know before the US market open October 25, 2016 Apple sales are expected to fall sharply and Twitter is planning another round of job cuts. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher ahead of the open, though only slightly. The S&P is up by 0.09 per cent, the Nasdaq is 0.14 per [...]
Large-cap pharma firms top global ranking of firms creating value October 25, 2016 Big biopharma firms have topped the list of the world’s best firms for creating shareholder value. An annual report from the Boston Consulting Group (BCG) has found three of the top five positions were taken by pharmaceutical groups. US-based Regeneron Pharmaceuticals grabbed the top spot with a total shareholder return (TSR) of 75.3 per cent, more [...]
