Philip Morris chokes as cigarette volumes shrink October 18, 2016 Cigarette firm Philip Morris has beaten bottom line Wall Street expectations in its third quarter, posting a profit of profit of $1.94bn (£1.57bn). However, cigarette volumes choked, dropping by more than five per cent. The numbers The firm reported diluted earnings per share of $1.25 for the third quarter, which were flat versus 2015. Net revenues hit $19.9bn, up by 2.6 [...]
Vodafone and Inmarsat team up on Internet of Things October 18, 2016 Telecoms firm Vodafone and satellite operator Inmarsat have teamed up to connect things in remote parts of the world to the internet. Vodafone has signed a roaming agreement with Inmarsat that allows it to offer customers access to Inmarsat’s satellite network to transmit data. It's expected to be used for things like monitoring an oil rig at sea or a driverless car [...]
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 [...]
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 [...]
Merlin builds on global growth with launch of Dubai Legoland October 17, 2016 Theme park operator Merlin Entertainments is set to open a Legoland park in Dubai at the end of the month. The park will include a Lego model of the world’s tallest building, the Burj Khalifa. Standing at 17 metres tall – compared with the real thing’s 830 meters – the Burj Khalifa model took more than [...]
Pepsi set to suck the sugar out of its drinks October 17, 2016 One of the world’s biggest soft drink producers Pepsi has set itself targets to reduce the amount of sugar in its drinks. The move is part of plans to try and tackle a range of issues, from obesity to climate change. By 2025 Pepsi wants more than 60 per cent of its drinks to have [...]
Footfall drops but shoppers keep spending October 17, 2016 Spending on the high street rose last month despite a decline in footfall, the latest data has shown. Retail spending grew in September by 1.3 per cent, while at the same time both footfall and shop prices have dropped year-on-year, according to figures released today by the British Retail Consortium (BRC) and retail analysts Springboard. Total [...]
London Remainers drag down consumer confidence in the capital October 17, 2016 London consumers are feeling less confident than the rest of the UK, data out today shows. Confidence fell in London during the third quarter despite climbing to a five-year high across the rest of the country, according to the latest survey from accountancy giant Deloitte. Consumer sentiment in the capital fell by three percentage points over [...]
Property price rebound continues in October as northern divide deepens October 17, 2016 The price of property in the UK coming on to market has risen for the second consecutive month, recovering from two consecutive falls in July and August. The average price of property coming to market rose by 0.9 per cent (£2,623) this month to £309,122, just 0.4 per cent below the all-time high reached in June. [...]
Misys cuts float value as Brexit volatility bites October 16, 2016 Financial technology company Misys has been forced to cut the value of its pending market flotation due to Brexit-induced market volatility. The company is the latest in a string of firms that has had to dial back or call off plans to list as a result of the UK’s shock vote to quit the European Union [...]
