Mayoral elections 2016: Will Sadiq Khan be Jeremy Corbyn’s man inside City Hall? January 28, 2016 An election campaign is as much a battle to define one’s opponent as it is to define oneself. This is particularly true of a campaign that boils down to a straight choice between two candidates. The London mayoral election presents a perfect case study of this struggle, as Labour’s Sadiq Khan and the Tory Zac Goldsmith [...]
City Moves for 28 January 2016 | Who’s switching jobs January 28, 2016 Horizon Software Horizon Software has announced that Sylvain Thieullent has been appointed the new chief executive, while Jean-Marc Delfarguiel, the founder of Horizon, becomes the company’s president. Horizon provides electronic trading solutions and algorithmic technology to the world’s exchanges, banks, brokers and fund managers. Sylvain was previously the EMEA head of electronic trading at Horizon. [...]
eBay share price dives 10 per cent as profits and revenues slip January 27, 2016 Shares in online retailer eBay have plunged by more than 12 per cent in after hours trading, after the company revealed a 28 per cent drop in profit for the fourth quarter of 2015, down to $523m (£367m) from $729m at the same time in the previous year. This comes despite the firm swinging from a loss [...]
PayPal share price jumps as it posts 15 per cent revenue growth in 2015 as mobile usage grows January 27, 2016 Online payment firm PayPal has reported a 17 per cent increase in revenue during the fourth quarter of 2015, up to $2.6bn (£1.8bn), while revenue for the year grew by 15 per cent to $9.2bn. The company also saw an increase in the number of customers using its services on a mobile device, similarly to [...]
Facebook share price jumps as social network reveals revenue growth of 51.7 per cent as mobile ad revenue rockets January 27, 2016 Facebook's stock has risen by almost nine per cent in after hours trading, after the social network unveiled revenue of $5.8bn (£4.1bn) for the three months to the end of December – and $17.9bn for 2015. This marks a quarterly jump of 51.7 per cent from $3.85bn in the final quarter of 2014, and a significant increase [...]
UK and Ireland among 31 countries signed up to OECD tax co-operation agreement January 27, 2016 The OECD has announced that 31 countries have signed up to a new tax co-operation agreement to enable automatic sharing of country-by-country information. Representatives from the 31 countries, which include the UK, Ireland and Australia, signed the Multilateral Competent Authority Agreement (MCAA) at a ceremony today. “Country-by-country Reporting will have an immediate impact in boosting international [...]
Boeing share price drops as it cuts production and forecasts earnings dip for 2016 January 27, 2016 Boeing's share price fell by as much as 10 per cent today, after the plane manufacturer reported a four per cent dip in revenue during the fourth quarter of 2015, although full-year revenue grew by six per cent. The figures In the last three months of last year, the group's revenues fell to $23.6bn (£16.6bn) [...]
Yorkshire Building Society Group to close branches and rebrand Barnsley and Chelsea building societies January 27, 2016 Yorkshire Building Society Group (YSB) has announced plans to close a number of branches, as part of changes to two of its high street brands. Barnsley Building Society and Chelsea Building Society branches will both be rebranded Yorkshire Building Society, and in 18 locations where YSB currently has two branches under either of the brands, [...]
Rupert Murdoch slams “posh boys” in Downing Street over Google tax deal January 27, 2016 Media mogul Rupert Murdoch took to Twitter today to blast politicians in the UK and the US for giving Google an easy way out of questions over its tax arrangements. Google recently reached a £130m deal with HMRC over corporation tax claims covering a 10-year period. However, Murdoch referred to the payment as a "token amount", handed over [...]
Tesco angers investors as storm clouds gather January 27, 2016 Just two weeks ago, Tesco chief executive Dave Lewis was hailing a “strong Christmas” as evidence of the retail giant “making progress”. UK like-for-like sales had risen 1.3 per cent in the six weeks ending 9 January, and Lewis was particularly pleased with international growth. When good news is hard to come by, every little [...]
