PepsiCo reports fourth-quarter 2015 earnings beats revenue estimates as sales rise in North America February 11, 2016 PepsiCo, the US owner of brands ranging from Pepsi to Tropicana and Quaker Oats, reported revenue of $18.59bn (£12.86bn) for the fourth quarter of 2015. This represented a decline of seven per cent from the $19.95bn reported in the same period of 2014, but came in ahead of analysts' expectations of $18.51bn. Profit dipped by [...]
UK steel crisis: As business secretary Sajid Javid faces pressure to save thousands of job he deserves credit for taking a principled stance February 11, 2016 Should we slam heavy tariffs on Chinese imports in the wake of Britain’s steel manufacturing crisis? For some, the answer is a simple “yes” – the government has a responsibility to defend our industries and jobs, so they say. For others, the answer is a straightforward “no” – protectionism, while helping some local businesses in [...]
City Moves for 11 February 2016 | Who’s switching jobs February 11, 2016 Cogeco Peer 1 Cogeco Peer 1, a global provider of business-to-business products and services, such as colocation, network connectivity, managed hosting, cloud services and managed IT services, has announced the appointment of Susan Bowen to the newly created role of vice president and general manager, Europe, Middle East and Africa. Based in the UK, Susan [...]
Whole Foods share price rises as premium grocer announces record sales and beats expectations for first quarter of 2016 February 10, 2016 Whole Foods, the healthy US grocery chain with several outposts in London, posted record sales figures for the first quarter of 2016, up to $4.83bn (£3.3bn) from $4.67bn, beating analysts' expectations of $4.81bn. Shares in the company rose by as much as six per cent in after hours trading. Net income for the quarter fell [...]
Shares in Farmville creator Zynga drop almost eight per cent after company posts declining revenue and customer numbers February 10, 2016 Zynga, the online games company behind Farmville, recorded revenue of $186m (£128m) in the three months to the end of 2015, down from $193m in the last quarter of 2014. Shares in the group dropped by almost eight per cent in after hours trading. The company's losses widened to $47m from $45m year-on-year, while bookings dipped [...]
Shares in Twitter plunge by over 10 per cent in after hours trading as social media site reports February 10, 2016 Twitter’s share price dropped by over 11 per cent in after hours trading despite news that revenue increased by 48 per cent in the fourth quarter of 2015 as monthly user numbers stayed flat on the previous quarter. Revenue was up to $710m (£489m) in the three months to 31 December, compared with $479m in the final [...]
Tesla shares jump on increased revenue as losses widen February 10, 2016 Tesla Motors reported revenue of $1.2bn (£825m) for the three months to 31 December 2015, up from $956m in the same period of 2014. The electric car company's results fell short of analysts' expectations of $1.85bn in revenue. Meanwhile, losses for the quarter widened to $320m from $108m. Shares in the company were up by over four [...]
US Presidential Election: Carly Fiorina suspends campaign for Republican candidacy in 2016 White House race after poor showing in New Hampshire primary February 10, 2016 Carly Fiorina has suspended her campaign for the Republican Presidential nomination ahead of this year's US Presidential Election. Fiorina was previously chief executive of Hewlett-Packard, and in 2009-2010 ran as a Republican candidate for the California Senate but was defeated by Democrat Barbara Boxer. She was also a senior adviser to Republican Party Presidential candidate John McCain in the 2008 race. "While I [...]
Black cabs and Uber can co-exist in London – and can even help each other get more custom February 10, 2016 Famous the world over, London’s black cabs are an iconic part of our city’s transport infrastructure. That’s why the impact of apps like Uber on traditional taxis has generated such a heated debate in the capital. Of course competition has affected the taxi trade. But surely the answer to the pressures faced by black cabs [...]
UK wealth inequality is widening as climbing house prices due to quantitative easing drive home ownership down – Standard & Poor’s February 10, 2016 While quantitative easing (QE) may have helped to stabilise the UK economy, it has also led to a wider gulf between rich and poor, according to Standard & Poor's (S&P) – and it has also pushed home ownership even farther out of reach for younger people. QE has exacerbated wealth disparity by boosting financial asset and [...]
