Energean swings to profit on higher oil prices but shares fall after production delays September 12, 2018 Energean Oil & Gas has swung to a half yearly profit on higher oil prices but has seen its shares fall after lowering its production guidance. The FTSE 250 company today posted pre-tax profits of £82.1m for the six month ending June – up from the £4.4m loss it reported in the first half of [...]
Superdry hires former Tommy Hilfiger exec to push brand presence September 12, 2018 Superdry has hired former Tommy Hilfiger executive Brigitte Danielmeyer as it looks to expand its brand digitally and develop new ranges. Danielmeyer was global head of womenswear at Tommy Hilfiger for four years to 2016 and has also held executive roles at Esprit and most recently Liebeskind Berlin. The new role of chief product officer [...]
Dunelm to simplify after profits drop in ‘difficult and disappointing’ year September 12, 2018 Homeware retailer Dunelm has said it will simplify the business following a “difficult and disappointing” year, which saw profits fall nearly seven per cent. Read more: Mike Ashley proclaims House of Fraser strategy will be a 'game changer' The figures The company said revenue for the year ending 30 June was £1.05bn – 10 per cent [...]
JPMorgan to set up “significant” wealth management business in Luxembourg September 11, 2018 JPMorgan has announced plans to establish a wealth management business in Luxembourg as part of a corporate restructuring. The company will also merge its Luxembourg bank with its London-based bank into one legal entity – to be completed early next year, the US bank has announced. It described the restructuring plan as “long-planned”. Read more: [...]
Elon Musk’s ‘erratic behaviour’ causes Nomura to downgrade Tesla stock September 11, 2018 Tesla’s share price was set rocking by an investment bank downgrade today, with chief executive Elon Musk’s “erratic behaviour” cited as a reason for the price adjustment. Tesla’s shares fell by almost four per cent to $274.14 after Nomura cut its target price in the wake of Musk making yet more headlines with behaviour such as [...]
Domino’s franchisee boosted as Russia and Turkey show appetite for pizza September 11, 2018 Domino's franchisee DP Eurasia has been boosted by a growing appetite for pizza in Russia and Turkey despite “challenging” economic conditions. The exclusive Domino's Pizza franchisee in Russia, Turkey, Georgia and Azerbaijan said revenue for the first half of the year grew 32.2 per cent to 380m Turkish lira. Its online sales of pizza in Russia [...]
Unilever shareholders to hold crunch vote on Netherlands move September 11, 2018 Unilever shareholders will vote next month on plans to streamline the consumer goods giant and move its headquarters to Rotterdam over London. The company, which makes Marmite and Pot Noodle, has revealed details of its proposal to abandon its dual-headed structure and become one legal entity in the Netherlands. The Anglo-Dutch firm, which also produces [...]
Sonos shares fall sharply after losses in first public results September 11, 2018 Shares in Sonos fell more than 13 per cent in after hours trading last night as it reported losses in its first results as a public company. The figures The home audio company said it sold 11 per cent more products than the same quarter last year but its revenues fell 6.6 per cent to [...]
Offshore oil and gas firms concerned over record low drilling September 11, 2018 The UK’s offshore energy industry has expressed “serious concerns” over the recovery of the sector despite stable oil and gas prices as drilling activity looks set to drop to its lowest level since 1965. Oil and Gas UK, the representative body for the UK’s offshore firms, warned that capacity constraints could be felt across the supply chain [...]
Trial begins into €9bn investor lawsuit against Volkswagen but not all claims will be considered, judge says September 10, 2018 €9bn investor lawsuit against Volkswagen over the diesel emissions scandal has got under way in Germany but a judge has said only some of the 1,670 claims will be considered. Shares in the German car manufacturer rose steadily throughout the morning as the trial, expected to last at least until the end of the month, [...]
