Halfords share price dips on reduced revenue during first quarter July 14, 2016 Despite a soggy start to the summer pushing sales of mud guards for bikes up 15 per cent, Halfords has reported a 0.6 per cent drop in like-for-like revenue in the 13 weeks to 1 July – and warned that a weaker pound could hit profits. Shares in the company dipped by one per cent [...]
Japan’s Fast Retailing – owner of Uniqlo – issues second profit warning this year July 14, 2016 Japan's Fast Retailing has issued another profit warning, and expects income in the year to 31 August to dip by 60 per cent compared to last year, despite an uptick in sales. The Uniqlo owner expects to report profit of ¥ 45bn (£322m) – a 25 per cent reduction on the previously projected ¥ 60bn. In the nine [...]
Moneysupermarket.com expects 10 per cent growth in revenues for first half of 2016 July 14, 2016 Price comparison website Moneysupermarket.com said it expects to report solid results for the six months to 30 June, with revenues set to rise by 10 per cent. The online firm is expecting revenue to hit £157.6m for the first half, £142.1m of which will come from the main Moneysupermarket website. Consumer advice site Moneysavingexpert, which was bought [...]
Oil price drops after US reports a smaller-than-expected reduction in stock July 13, 2016 The oil price has fallen on reports that US stocks have fallen by a smaller-than-expected amount. The US government's Energy Information Administration (EIA) said crude inventories fell 2.5m barrels last week, less than expectations for a 3m-barrel drop in a Reuters poll and contradicting trade group American Petroleum Institute's report yesterday, which showed a crude build of 2.2m [...]
Wizz Air is spending $2.5bn on new engines in deal with Pratt & Whitney July 13, 2016 Budget airline Wizz Air is has agreed a deal with US manufacturer Pratt & Whitney to install new engines in 110 of its planes. The deal, worth $2.5bn (£1.9bn), will see Wizz Air's 110 Airbus A321neo aircraft equipped with Pratt & Whitney’s PurePower Geared Turbofan engines, with deliveries to start in 2019. The agreement also covers an additional 90 [...]
This is how insurers can become part of the sharing economy July 13, 2016 If the general public was asked ‘what does the insurance industry do’, it’s unlikely the answer would be; ‘it supports entrepreneurial innovation and endeavour ’. But that’s precisely what insurers do and the exponential growth of the sharing economy has provided an interesting challenge for insurers in this role. Sharing enablers such as AirBnB, RideLink and Vrumi are [...]
Burberry share price jumps as firm reports like-for-like sales down three per cent with retail revenue unchanged at £242m July 13, 2016 Luxury retailer Burberry has reported unchanged revenue for the three months to 30 June, amid a "challenging" trading environment – and analysts say the British designer is still too reliant on the Chinese market. Shares in the company were up 4.8 per cent in early trading. [stockChart code="BRBY" date="2016-07-13 14:41"] The group posted a [...]
Investors are prepared to take sub-zero yields in order to keep their money in safe haven German 10-year bunds July 13, 2016 Germany is getting ready to sell €5bn (£4.2bn) worth of 10-year bonds with a zero per cent coupon for the first time. Yields on the German bund have been dropping for weeks – and are now firmly in negative territory, hitting a record low of minus 0.2 per cent last week, which is why a negative yield [...]
Brexit: The House of Commons will debate a petition for a second EU referendum on 5 September July 12, 2016 The House of Commons will debate a petition for a second EU referendum on 5 September, due to the "huge number" of signatures it gathered. A petition with more than 4.1m signatures, calling on the government to "implement a rule that if the remain or leave vote is less than 60 per cent based a [...]
The Irish economy grew by a whopping 26 per cent last year – but economists are not impressed July 12, 2016 The Irish economy grew by an impressive 26 per cent last year, soaring past estimates of 7.8 per cent gross domestic product (GDP) growth – but only after the capital stocks of a number of companies that relocated to the country were included in the state's balance sheet. Revised figures from Ireland's Central Statistics Office (CSO) show GDP was [...]
