Canon profit drops by 7.7 per cent as sales tumble April 26, 2016 Japanese camera manufacturer Canon has reported a slowdown in sales during the three months to 31 March, as demand declined across its product ranges. Net sales dropped by seven per cent to ¥767bn (£4.9bn) in the first quarter, down from ¥858bn during the same period of last year. Operating profit plummeted by 39.4 per cent, to ¥45.7bn [...]
eBay share price rises as online auction site posts four per cent jump in revenue during first quarter of 2016 April 26, 2016 Shares in online retailer eBay rose by over 1.7 per cent in after hours trading as the company revealed a jump in revenue during the first three months of the year. Sales went up by four per cent, from $2.06bn (£1.41bn) in the first quarter of 2015, to $2.14bn, and gross profit went from $1.65bn to [...]
Twitter share price jumps then plunges back down on first quarter numbers April 26, 2016 Twitter’s shares initially jumped in after hours trading last night, before nosediving 11 per cent below their closing price, after the firm missed revenue estimates and cut its forecast for the second quarter. The social network increased revenue by 36 per cent compared to the same period of last year, to $595m (£408m) from $436m. [...]
City Moves for 26 March 2016 | Who’s switching jobs April 26, 2016 Alpha FMC Asset and wealth management consultant Alpha FMC has appointed Andrew Glessing as director and head of its new dedicated compliance practice which will initially comprise nine consultants. Andrew has more than 25 years’ experience in financial services and compliance consulting. He spent seven years as manager at the Financial Conduct Authority where he [...]
Pressure mounts on BHS top dogs as MPs call for Sir Philip Green to be held accountable over department store’s collapse April 25, 2016 Pressure was mounting on Sir Philip Green last night after MPs called for the former BHS owner to be held to account over yesterday’s collapse of the 88-year-old high street chain, which he sold for just £1 last year after 15 years’ ownership. BHS’ failure, which puts 10,000 jobs at risk, is also being investigated by [...]
Charter’s $55bn takeover of Time Warner Cable is approved by the US Department of Justice April 25, 2016 Charter's $55bn (£38bn) takeover of Time Warner Cable has been granted antitrust approval by the US justice department. The two broadcasting companies agreed the deal last May, with Charter beating rival Comcast to make a successful bid for Time Warner. The justice department's approval was granted with conditions aimed at protecting competition. These measures include an [...]
Former Marks & Spencer boss Marc Bolland tipped to take up director role at British Airways owner IAG April 25, 2016 Marks & Spencer's former chief executive Marc Bolland is tipped to be named as a non-executive director of International Airlines Group (IAG), the owner of British Airways. An announcement about his appointment could be made as soon as this Friday, Sky News has reported, when IAG unveils its first-quarter results, according to headhunting industry sources. It [...]
City Moves for 22 April 2016 | Who’s switching jobs April 22, 2016 Callcredit Information Group UK-based credit reference agency and specialist in managing consumer data Callcredit information group has appointed Colin Rutter as chief risk officer and general counsel. With over 25 years of legal experience, Colin Rutter joins Callcredit Information Group from Experian where he was general counsel and a member of the UK&I, EMEA and [...]
Steel’s last stand: Government plans to attract bidders for Tata Steel’s UK operations with financial aid April 21, 2016 The government has announced a last-ditch package of rescue measures in a bid to attract potential buyers for Tata Steel's UK operations, including the Port Talbot steelworks. The plans, which amount to a “part-nationalisation” of the troubled steel industry, would see taxpayers take a 25 per cent stake in any rescue of Tata Steel’s [...]
BT Tower goes up in flames for the Queen’s birthday – kind of April 21, 2016 Camden Council has taken a rather unique approach to celebrate the Queen's 90th birthday this evening – it's projected flames onto the screen at the top of the iconic BT tower. While the screen had been showing a more traditional, and less frightening, birthday message throughout the day, the "beacon flames" started burning at 8.30pm and [...]
