Before the bell: What you need to know before the US market open August 2, 2016 Japan has launched a £34bn stimulus package, the Reserve Bank of Australia has chopped its its benchmark interest rate to a record low 1.5 per cent and Europe's banks are getting sold off. Here's what you need to know before the US market open at 2:30pm. The US pre-market is pointing down ahead of the open. The S&P is [...]
Satellite operator Inmarsat won’t make an offer for rival Avanti August 1, 2016 Inmarsat won't be making an offer for Avanti, it's said today following media reports that the two could come together in a £4bn takeover. The satellite operator – recently expelled from the blue-chip FTSE 100 index – put an end to speculation begun by Sky News on Friday that it was considering making a bid for its smaller rival. [...]
Verizon is buying this Irish GPS company for $2.4bn August 1, 2016 Verizon's buying spree hasn't ended with Yahoo. Verizon has now made a cash offer for Irish GPS vehicle tracking company Fleetmatics for $2.4bn (£1.8bn). The US telecoms giant is looking to expand into internet connected devices as it grows its business away from its core mobile market. Fleetmatics' shares leaped by 39 per cent to $59.69 following the announcement, though investors sent Verizon shares down by 0.1 [...]
Week ahead: Banks take centre stage for results and interest rates August 1, 2016 The Bank of England is widely expected to cut interest rates for the first time in seven years this week as it assesses the fallout from the UK’s vote to quit the European Union. The Bank held fire in July in the immediate aftermath of the Brexit vote, catching some analysts off guard. Policy committee members [...]
Addison Lee profits under pressure from rise of mobile app challengers July 31, 2016 Addison Lee’s profits are being driven down by rising competition from mobile-based apps. The UK private car hire company owned by private equity giant Carlyle has reported post-tax earnings for the year to August dipped to £11.6m, down almost two-thirds from £32.9m in the previous year. New players in the market, led by US upstart [...]
Talking the talk: Harding on Ofcom, hacks, and fibre July 31, 2016 At TalkTalk's Shepherd's Bush offices, cavernous rooms enclosed by exposed walls and trendy staff make this company feel more like an outsized Shoreditch startup than a FTSE 250 constituent. Fitting surroundings for a firm that is out to ape Google’s growing US broadband service, Google Fibre, as it ramps up its challenge to BT’s faux-fibre offering. [...]
Rising consumer spending has pushed up MasterCard’s profits July 28, 2016 MasterCard has reported expectation busting second-quarter profit of $983m as customers increasingly use plastic over cash at the till. Profits came in at 89 cents per share, with earnings – adjusted for non-recurring costs – were 96 cents per share. The average earnings estimate of 17 analysts surveyed by Zacks Investment Research was for 90 cents per share. Processed transactions [...]
Ford share price swerves after it misses profit expectations and warns over full year earnings and the impact of Brexit July 28, 2016 Ford shares have dipped ahead of the open after the US car manufacturer reported its second quarter profit missed expectations. The poor performance was blamed on stalling markets in the US and China. Ford posted profit of $1.97bn, or $0.49 per diluted share, versus $2.16bn or $0.54 per share a year ago. Its earnings – excluding one-off items – came in [...]
Before the bell: What you need to know before the US market open July 28, 2016 Last night the US Federal Reserve signalled the way to an interest rate rise before the US Presidential Election and investors are busy digesting the flood of earnings reports. Here's what you need to know before the US market open at 2:30pm. The pre-market is pointing lower ahead of the open but looks to be broadly [...]
Investment banks have taken a wait and see approach to Brexit July 28, 2016 London's investment banks are continuing to take a wait and see approach to the UK’s decision to quit the European Union more than one month after the vote. Of the 20 biggest investment banks in the UK, 40 per cent have so far expressed a view on the vote. Half of those institutions that have [...]
