City Moves for 26 February 2016 | Who’s switching jobs February 26, 2016 Edmonds Marshall McMahon Private prosecution law firm Edmonds Marshall McMahon has announced the firm’s expansion into civil fraud with the appointment of leading City litigator Robert Hunter. He joins as a partner from Herbert Smith Freehills where he was head of the fraud and asset tracing group. Robert has over 25 years’ experience in the [...]
Dozens of UK KPMG partners face the chop in overhaul led by chairman Simon Collins February 26, 2016 A top level restructure at one of the Big Four accountancy firms will see close to 50 partners shown the door. KPMG will shed dozens of partners as part of a push by Simon Collins, its UK chairman, to overhaul the professional service firm’s operating model and bring more technology into the business to suit [...]
So-called Chinese Google Baidu sees share price rocket as profit jumps 663 per cent and revenue climbs in fourth quarter February 25, 2016 Shares in Chinese internet giant Baidu have rocketed by 13.13 per cent in after hours trading, after the company reported 663 per cent growth in profit in the final quarter of 2015, up to 24.7bn yuan (£2.7bn) from 3.2bn yuan in the same period of 2014. The group,sometimes referred to as China's Google, also posted revenue [...]
Oprah Winfrey partnership could be an expensive choice for Weight Watchers as shares plunge on massive loss and missed earnings forecasts February 25, 2016 Weight Watchers stock has plummeted by over 27 per cent in after hours trading after the worldwide dieting organisation reported a loss of $11.3m (£8.1m) for the fourth quarter of 2015, compared with profit of $4.4m in the same period in 2014 – a 359 per cent drop in income. This brought earnings per share (EPS) [...]
Herbalife share price dips initially but recovers in after hours trading after sales and earnings beat expectations February 25, 2016 Controversial marketing and nutrition firm Herbalife made $1.1bn (£788m) in sales in the final quarter of 2015, a 3.1 per cent drop compared with the same period of last year. Profit dropped to $84.5m from $103.3m, and earnings per share (EPS) hit $0.98, down from $1.21- but beating expectations of $0.97. Meanwhile, volume points – [...]
Halliburton to slash 5,000 jobs under pressure from low oil prices February 25, 2016 Halliburton announced today it is to slash 5,000 jobs, cutting its workforce by eight per cent, in a bid to withstand the prolonged weak oil market. The oil services company has already reduced global headcount by 25 per cent – almost 22,000 employees – since 2014. The price of the black stuff has plummeted since June [...]
City Moves for 25 February 2016 | Who’s switching jobs February 25, 2016 Maples Teesdale Jo Preece has been appointed as a senior associate in the construction team at Maples Teesdale LLP. She has experience of working on development schemes, acquisitions and disposals, lettings and financings, having advised the likes of Almacantar, Capital & Counties, Intu Shopping Centres, Lend Lease and Standard Life. She previously worked as a [...]
Cyber crime rockets: Shocking rise in senior staff attacking businesses as threat levels continue to soar following hacks at TalkTalk and Sony Pictures February 24, 2016 Cyber crime targeting British businesses has rocketed 130 per cent over the past two years, with so-called “silver fraudsters” stepping up their fraudulent activity. The full scale of computer crime is laid bare in a new investigation by accountancy giant PwC that ranges from senior managers dipping their fingers in the digital till to large-scale cyber [...]
HP share price rises despite revenue dip in first results since spin off from Hewlett Packard Enterprise February 24, 2016 HP reported a 12 per cent decline in revenue during the first quarter of 2016, with sales dropping to $12.2bn (£8.75bn) from $13.9bn in the same three months of 2015, as demand for PCs and printers fell away. Shares in the company rose by 1.3 per cent in after hours trading. HP is the legacy hardware [...]
Facebook unveils new “Reactions”, allowing users to express love, anger, sadness, laughter and… say wow February 24, 2016 Facebook has launched its new function, Reactions, which it describes as "the new Like button with more ways to express yourself" – but there's still no dislike button. The social network first announced the new Reaction buttons in October 2015, and allowed users in Spain and Ireland to test them out initially. From today, they [...]
